InMed Reports First Quarter Fiscal 2026 Financial Results and Provides Business Update

Core Viewpoint - InMed Pharmaceuticals reported its financial results for the first quarter of fiscal year 2026, highlighting advancements in its lead program INM-901 for Alzheimer's disease and a solid financial position with $9.3 million in cash [1][3][11]. Financial Performance - The company generated revenues of $1.1 million for the three months ending September 30, 2025, down 11% from $1.3 million in the same period last year, primarily due to pricing adjustments [7][8]. - Research and development expenses decreased to $0.6 million from $0.7 million year-over-year, attributed to reduced spending on external contractors and compensation [9]. - General and administrative expenses remained stable at $1.5 million for both periods [10]. - The net loss for the period was $1.7 million, compared to a loss of $1.7 million in the previous year, with a net loss per share of $0.44 [13]. Business Update - INM-901 is advancing as a potential treatment for Alzheimer's disease, with ongoing IND-enabling activities and plans for a pre-IND meeting with the FDA [3][5]. - The company presented findings on INM-901 at the 2025 Alzheimer's Association International Conference, showcasing its therapeutic potential [4]. - INM-089 is under investigation for treating dry age-related macular degeneration, with preclinical studies showing significant improvements [6]. Cash Position - As of September 30, 2025, InMed had cash and cash equivalents of $9.3 million, down from $11.1 million at the end of June 2025, but expected to be sufficient to fund operations into the fourth quarter of calendar year 2026 [11].