INMED PHARMACEUTIC COM NPV
INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) shares gained 16.7% after the biopharmaceutical company announced positive pre-clinical data on an ocular hydrogel formulation that uses a biosynthesized cannabinoid. The study is the first to ever report delivery of hydrogel-mediated cannabinoid nanoparticles to the eye, which resulted in enhanced drug uptake via the cornea and lens.
Hydrogel Delivery Method
INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF)’s hydrogel delivery method offers unique rheological characteristics compared to ocular formulations such as eye drops that are usually washed away upon drug delivery due to blinking. Study results validate InMed Pharmaceuticals capacity to conduct drug development activities including biosynthesis of a cannabinoid using an E. coli-based system.
“Results like this, combined with our expanding patent portfolio and list of publications, on-going R&D, and renowned scientific team and collaborators demonstrates our depth of know-how and supports our trajectory to becoming an industry leader,” said CEO Eric A. Adams.
The positive pre-clinical data has helped strengthen investor confidence in the stock following recent sell-off. INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) is currently in consolidation after dropping from $0.66 to current trading levels. However, the stock is up by more than 80% for the year.
InMed Pain Program
The developer of cannabinoid-based drug therapies recently provided an update on the development of INM-405 for the treatment of pain and continues to strengthen investor sentiments on the stock. Study results suggest that the application of certain cannabinoid compounds may be effective in the treatment of craniofacial muscle pain disorders, without any CNS side effects.
The findings support the company’s bid to come up with new pain management alternatives that are non-addictive and have limited side effects. According to the Centers for Disease Control and Prevention, drug overdose deaths are on the rise in the United States.
INMED PHARMACEUTIC COM NPV (OTCMKTS:IMLFF) is currently researching the potential of non-THC cannabinoids to treat pain using topical formulation, which is less addictive. The preclinical stage pharmaceutical company has also filed a provisional patent application in the United States for INM-405 and other compositions for the treatment of pain
“There remains a significant need in the field of analgesia for a product that can treat pain via a topical route of administration, which would reduce systemic exposure and any associated side effects. InMed’s focus on non-psychoactive cannabinoids further reduces concerns regarding addiction,” said Dr. Sazzad Hossain, Chief Scientific Officer.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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