Canada's InMed Pharmaceuticals Q1 loss widens
INM•InMed Pharmaceuticals reported a fiscal first-quarter loss per share of $0.42, with its net loss widening year over year and research and development expenses down. It expects available cash to fund operations into mid-November 2026 and expects its proposed merger with Mentari to close in Q4 2026, subject to conditions.
1. Quarterly results
InMed Pharmaceuticals reported a fiscal first-quarter loss per share of $0.42. Its net loss widened year over year, while research and development expenses fell.
2. Cash and merger outlook
The company expects available cash to fund operations into mid-November 2026. InMed expects its proposed merger with Mentari to close in Q4 2026, subject to conditions, and anticipates the merger and financing will help it regain Nasdaq compliance, though it gave no assurance.
3. Spending focus
InMed said reduced operating activity and research spending reflected its focus on completing the proposed merger. It said it continues to monitor expenses and pursue strategic opportunities for legacy assets.
