Mergers & Acquisitions ·
InMed Pharmaceuticals Inc. received a notice from Nasdaq on September 16, 2026, indicating non-compliance with Listing…
INMInMed Pharmaceuticals Inc.
InMed Pharmaceuticals Inc. received a notice from Nasdaq on September 16, 2026, indicating non-compliance with Listing Rule 5550(b)(1) due to shareholders' equity of $1,075,007 falling below the $2,500,000 minimum requirement. The decline in equity stems from transaction expenses related to its merger agreement with Mentari Therapeutics, wind-down costs for subsidiary BayMedica, and operating losses. InMed has 45 days until November 2, 2026, to submit a compliance plan and may receive an extension of up to 180 days. The company expects the merger, anticipated to close in Q4 2026 with approximately $490 million in aggregate gross proceeds from Mentari's pre-closing financing, will restore compliance. InMed Pharmaceuticals Inc. is a pharmaceutical company developing proprietary small molecule drug candidates for diseases with high unmet medical needs.