24/7 Market News Snapshot 20 August, 2024 – InMed Pharmaceuticals Inc. Common Shares (NASDAQ:INM)

August 20, 2024

DENVER, Colo., 20 August, 2024 (247marketnews.com) – (NASDAQ:INM) are discussed in this article.
InMed Pharmaceuticals Inc. is currently navigating a challenging market, with shares trading at $0.421 in pre-market activity, reflecting a notable decline from its previous close of $0.148. The trading volume has surged to 7.95 million shares, indicating increased market participation, likely influenced by recent developments and investor speculation. This bearish trend suggests weak demand and cautious sentiment from investors, highlighting the importance of monitoring trading volumes and identifying potential resistance levels. As the company faces these market dynamics, its ongoing efforts in drug development continue to advance.

In parallel, InMed is making significant strides with its proprietary oral formulation of INM-901, aimed at treating Alzheimer’s disease. Recent preclinical studies affirm that this small molecule drug candidate can achieve therapeutic drug concentrations in the brain comparable to traditional administration methods, such as intraperitoneal (IP) injection. The high bioavailability of the oral formulation positions INM-901 as a promising alternative to existing treatments, which often rely on complicated delivery methods and can result in adverse side effects.

Michael Woudenberg, Chief Operating Officer and Senior Vice President of Chemistry, Manufacturing, and Controls at InMed, emphasized the importance of these findings, stating that the ability of INM-901 to effectively cross the blood-brain barrier through oral administration represents a significant advancement. This approach not only enhances drug accessibility for patients but also seeks to overcome existing barriers in Alzheimer’s therapies.

With ongoing studies focusing on drug metabolism and pharmacokinetics, InMed is dedicated to laying the groundwork for a robust investigational new drug (IND) submission. The potential of INM-901 to provide neuroprotection and improve communication between brain cells underscores InMed’s commitment to addressing high unmet medical needs in Alzheimer’s care, ultimately aiming to improve patient outcomes.

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