09:51 AM EST - InMed Pharmaceuticals Inc. : Recently reported results for the first quarter of FY19 and continues to make solid progress in bringing INM-750 for epidermolysis bullosa (EB) into the clinic by H219. So far, its selected formulation has demonstrated good drug penetration as a topical formulation, a clean safety profile and that each of the two cannabinoid components plays an important and independent role in combating EB, which is an especially important finding from a regulatory point of view for any combination product. Additionally, the company’s biosynthesis program is tracking on schedule. InMed has adjusted its valuation to $232m or $1.36 per basic share ($1.05 per diluted share) from $234m or $1.37 per basic share ($1.05 per diluted share) solely due to lower net cash, otherwise our valuation estimates are the same. The company had C$24.8m in cash at 30 September and we believe this provides runway into FY21. InMed Pharmaceuticals
shares T.IN are trading unchanged at $0.52.
