Earnings ·
InMed reports Q1 FY27 net loss of $2.3M and updates on proposed merger with Mentari Therapeutics
INMInMed Pharmaceuticals Inc.
InMed Pharmaceuticals reported a first-quarter fiscal 2027 net loss of $2,330,778, or $0.42 per share, compared to a loss of $1,726,899 in the prior year period. Cash and cash equivalents decreased to $1.1 million from $2.2 million at quarter-end. The company continues to pursue its proposed merger with Mentari Therapeutics, which includes approximately US$490 million in pre-closing financing expected to close in Q4 2026 subject to shareholder approval. InMed also received Nasdaq acceptance of a compliance plan for minimum shareholders' equity, requiring the company to regain compliance by March 15, 2027. The firm operates as a pharmaceutical company developing proprietary small molecule drug candidates.