INMED PHARMACEUTIC (OTCMKTS:IMLFF)
Shares of INMED PHARMACEUTIC (OTCMKTS:IMLFF) gained 12% as investors took note of the company’s biosynthesis technology. Reports claim that the company’s technology has the potential to give rise to commercial quantities of cannabinoids without the normal production and maintenance costs pitfalls.
IMLFF Stock Performance
The reports helped strengthen investor confidence in INMED PHARMACEUTIC (OTCMKTS:IMLFF)’s long-term prospects. The stock has managed to bounce back after coming under pressure after rising to $0.66 a share in April. The stock is up by more than 100% for the year as it continues to make a push for its 52-week high.
Renewed investor interest in the stock has to do with INMED PHARMACEUTIC (OTCMKTS:IMLFF)’s biosynthesis technology that has the potential to address regulatory concerns associated with pharmaceutical grade cannabinoids. The biosynthesis technology should allow the company to produce high yield cannabinoids for its pipeline, rather than having to outsource cultivation, as is the case with other cannabis-focused biotech’s.
“InMed’s approach to developing biosynthetic cannabinoids combines the inherent safety and established the efficacy of natural drug structures with the kind of quality-controlled pharmaceutical manufacturing required by the FDA. This process also grants the company direct access to overlooked minor cannabinoids,” Network News Wire in a statement.
The pre-clinical stage biopharmaceutical company is currently working on INM-750, a topical product designed to treat Epidermolysis Bullosa a rare disease affecting skins connective tissue. The lead candidate drug contains a combination of biosynthetically-produced cannabinoids. InMed Pharmaceuticals has filed an International Patent Cooperation Treaty application to commercially protect INM-750
In addition, the biopharmaceutical company is also working INM-405, a novel candidate drug for the treatment of pain. INMED PHARMACEUTIC (OTCMKTS:IMLFF) has already verified the effects of individual non-THC in the treatment of pain with the candidate drug.
Preliminary results suggest that the application of certain cannabinoid compounds alone or in combination could be effective in the treatment of craniofacial muscle pain disorders. InMed Pharmaceuticals has filed a provisional patent application in the United States for INM-405 and other compositions of cannabinoid-based therapies for the treatment of pain.
Separately, INMED PHARMACEUTIC (OTCMKTS:IMLFF) has appointed, Dr. Mauro Maccarrone, to its scientific advisory board. Dr. Maccarrone currently serves as the Professor and Chair of Biochemistry and Molecular Biology at the University of Rome.
“We are very pleased to add Dr. Mauro Maccarrone and his vast experience in the field of cannabinoid research as an integral part of our Scientific Advisory Board. We look forward to working with Dr. Maccarrone to help bring drug therapies to those in need,” said Dr. Sazzad Hossain, InMed’s 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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