InMed Pharmaceuticals reported financial results for fiscal year 2024, with revenue increasing 11% to $4.6 million. The company advanced its pharmaceutical pipeline, including INM-901 for Alzheimer's disease and INM-089 for dry age-related macular degeneration. Cash and investments totaled $6.6 million as of June 30, 2024.Research and development expenses increased slightly to $3.6 million as the company progressed its drug candidates. General and administrative expenses decreased 10% to $4.5 million due to cost reduction efforts. Net loss for the year was $7.7 million, an improvement from $7.9 million in fiscal 2023.InMed is pursuing strategic partnerships for its INM-755 program in epidermolysis bullosa following positive Phase 2 results. The company also expanded its rare cannabinoid product portfolio and commercial activities. Management expects current cash to fund operations into Q4 2024 and is exploring additional financing options to advance its pharmaceutical programs.

InMed Pharmaceuticals reported financial results for fiscal year 2024, with revenue increasing 11% to $4.6 million. The company advanced its pharmaceutical pipeline, including INM-901 for Alzheimer's disease and INM-089 for dry age-related macular degeneration. Cash and investments totaled $6.6 million as of June 30, 2024.Research and development expenses increased slightly to $3.6 million as the company progressed its drug candidates. General and administrative expenses decreased 10% to $4.5 million due to cost reduction efforts. Net loss for the year was $7.7 million, an improvement from $7.9 million in fiscal 2023.InMed is pursuing strategic partnerships for its INM-755 program in epidermolysis bullosa following positive Phase 2 results. The company also expanded its rare cannabinoid product portfolio and commercial activities. Management expects current cash to fund operations into Q4 2024 and is exploring additional financing options to advance its pharmaceutical programs.