Form 8-K
8-K — InMed Pharmaceuticals Inc.
Accession: 0001062993-26-002371
Filed: 2026-05-07
Period: 2026-05-06
CIK: 0001728328
SIC: 2834 (PHARMACEUTICAL PREPARATIONS)
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — form8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (exhibit99-1.htm)
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InMed Pharmaceuticals Inc.: Form 8-K - Filed by newsfilecorp.com
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2026-05-06
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InMed Pharmaceuticals Inc.
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2026-05-06
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 6, 2026
INMED PHARMACEUTICALS INC.
(Exact name of registrant as specified in its charter)
British Columbia
001-39685
98-1428279
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
Suite 1445 – 885 West Georgia Street
Vancouver, British Columbia, Canada
V6C 3E8
(Address of principal executive offices) (ZIP Code)
Company’s telephone number, including area code: (604) 669-7207
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbols
Name of each exchange on which registered
Common Shares, no par value
INM
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).
Emerging growth company ☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On May 6, 2026, the Company reported financial results for the third quarter of the fiscal year 2026 which ended March 31, 2026.
The information set forth in this Item 7.01, including Exhibits 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information set forth in this Item 7.01, including Exhibit 99.1, shall not be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits:
The following exhibits shall be deemed to be furnished, and not filed:
Exhibit
No.
Description
99.1
News release, dated May 6, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document and included as Exhibit 101)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INMED PHARMACEUTICALS INC.
Date: May 6, 2026
By:
/s/ Eric A Adams
Eric A Adams
President & CEO
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: exhibit99-1.htm · Sequence: 2
InMed Pharmaceuticals Inc.: Exhibit 99.1 - Filed by newsfilecorp.com
NASDAQ: INM
Suite 1445-885 West Georgia St.
Vancouver, BC, Canada V6C 3E8
Tel: +1.604.669.7207
Email: info@inmedpharma.com
www.inmedpharma.com
InMed Reports Third Quarter Fiscal 2026 Financial Results and
Provides Business Update
Vancouver, BC - May 6th, 2026 - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (Nasdaq: INM), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today reports financial results for the third quarter of the fiscal year 2026 which ended March 31, 2026.
The Company's full financial statements and related MD&A for the third quarter ended March 31, 2026, are available at www.inmedpharma.com, www.sedarplus.com and at www.sec.gov.
"During the quarter, InMed reported additional preclinical data that further support the development of INM-901 for Alzheimer's disease through its targeting of neuroinflammation. Data from advanced human brain organoid systems demonstrated anti-neuroinflammatory effects consistent with findings observed across multiple in vivo and ex vivo studies," commented Eric A. Adams, InMed President and CEO.
Business Update
INM-901: Targeting the Modulation of Neuroinflammation in Alzheimer's disease
InMed's proprietary, disease-modifying, small molecule drug candidate INM-901 is a preferential signaling agonist of the CB1/CB2 receptors and continues to advance as a potential treatment for Alzheimer's disease with a primary focus on modulating neuroinflammation. During the quarter, InMed announced preclinical data demonstrating the effects of INM-901 in reducing neuroinflammation in 3D human brain organoid models of Alzheimer's disease.
The in vitro human organoid models represent some of the closest approximations to human brain tissue currently available, incorporating a complex cellular environment relevant to neurodegenerative disease. The organoids are composed of neurons, astrocytes, vascular cells and feature microglia, the brain's resident immune cells, and can be used to bridge the gap between traditional animal models and human clinical trials.
INM-901 was evaluated in two distinct human 3D organoid models: a general model of neuroinflammation induced with lipopolysaccharide ("LPS") and interferon-gamma ("IFN-γ"); and, Stem Pharm's proprietary neuroinflammation Alzheimer's disease model with specific features observed in Alzheimer's disease patients.
Key Observations included:
• INM-901 demonstrated significant reduction in neuroinflammation in Stem Pharm's LPS-induced model and in their Alzheimer's disease model. A dose-dependent reduction of key pro-inflammatory markers such as IL-6 and IL-8 was seen in both neuroinflammation models.
• Effects align with prior findings from an in vivo Alzheimer's model and an ex vivo LPS-induced neuroinflammation model.
• Provides supportive evidence of mechanistic translation from animal models to human tissue systems.
The consistency of INM-901's anti-inflammatory effects across in vivo animal models, ex vivo systems and now human 3D brain organoids provide increasing confidence in the compound's potential to translate into clinical benefit in humans with neuroinflammatory conditions.
Discontinued Operations
On March 4, 2026, the Company's board of directors ratified, confirmed and approved the decision of the board members of BayMedica to wind down and exit BayMedica's commercial operations business segment ("Commercial Operations"), which is the only revenue-generating commercial operations of the Company. BayMedica intends to substantially complete the wind down and exit prior to the end of its fiscal year ending June 30, 2026. During the interim period leading to the completion of operational wind down, BayMedica will continue its commercial operations including sales, marketing, limited manufacturing, and logistics.
Financial Commentary
Following the classification of the Commercial segment as discontinued operations, the Company has one reportable segment that constitutes consolidated results consisting of its operations. Unless otherwise noted, all activities and amounts reported in the following notes relate to the continuing operations of the Company and exclude activities and amounts related to discontinued operations.
For the three months ended March 31, 2026, the Company reported a net loss of $3.0 million, compared to a net loss of $2.1million in the same period the previous year. The increase was largely driven by higher expenses related to pharmaceutical research and development activities, as well as financing costs.
Pharmaceutical research and development for continuing operations were $1.0 million for the three months ended March 31, 2026, compared with $0.4 million for the three months ended March 31, 2025. The increase was primarily due to an increase in external contractors relating to our INM-901 program
General and administrative expenses for continuing operations were $1.7 million for the three months ended March 31, 2026, compared to $1.6 million the same period the previous year. The increase resulted primarily from a combination of changes including lower accounting fees, share-based payments fees, and shareholder communication fees.
As of March 31, 2026, the Company's cash, cash equivalents and short-term investments were $5.2 million, which compares to $10.8 million on June 30, 2025.
The Company reported no revenue from continuing operations for the period. The discontinued commercial operations generated revenue of $0.7 million during the period; however, its results are classified as discontinued operations and are presented separately from continuing operations.
Table 1. Consolidated Balance Sheet
Expressed in U.S. Dollars
March 31,
June 30,
2026
2025
Unaudited
(As restated)
$
$
ASSETS
Current
Cash and cash equivalents
5,158,932
10,743,430
Short-term investments
41,625
43,384
Prepaids and other current assets
617,211
319,547
Current assets of discontinued operations
1,070,313
1,760,918
Total current assets
6,888,081
12,867,279
Non-Current
Property, equipment and ROU assets, net
642,884
992,199
Intangible assets, net
1,498,473
1,620,562
Other assets
104,368
100,000
Total Assets
9,133,806
15,580,040
LIABILITIES AND SHAREHOLDERS' EQUITY
Current
Accounts payable and accrued liabilities
1,011,551
1,230,845
Current portion of lease obligations
389,381
435,507
Current liabilities of discontinued operations
810,334
173,438
Total current liabilities
2,211,266
1,839,790
Non-current
Lease obligations, net of current portion
30,766
305,755
Total Liabilities
2,242,032
2,145,545
Commitments and Contingencies (Note 9)
Shareholders' Equity
Common shares, no par value, unlimited authorized shares: 3,314,063 and 2,002,186 as of March 31, 2026 and June 30, 2025, respectively, issued and outstanding
92,578,071
91,221,174
Additional paid-in capital
38,144,484
39,322,644
Accumulated deficit
(123,959,350
)
(117,237,892
)
Accumulated other comprehensive income
128,569
128,569
Total Shareholders' Equity
6,891,774
13,434,495
Total Liabilities and Shareholders' Equity
9,133,806
15,580,040
Table 2. Consolidated Statements of Operations
Expressed in U.S. Dollars
For the Three Months Ended
For the Nine Months Ended
March 31,
March 31,
2026
2025
2026
2025
$
$
$
$
Operating Expenses
Research and development
1,022,630
425,370
2,222,732
2,243,948
General and administrative
1,742,016
1,584,393
4,304,323
4,155,493
Amortization and depreciation
51,707
51,706
156,912
158,289
Foreign exchange loss
23,168
22,165
62,026
50,608
Total operating expenses
2,839,521
2,083,634
6,745,993
6,608,338
Other Income (Expense)
Interest and other income
47,770
16,565
215,914
104,195
Finance expense
-
-
-
(351,549
)
Net loss from continuing operations before taxes
(2,791,751
)
(2,067,069
)
(6,530,079
)
(6,855,692
)
Income tax expense
-
-
-
-
Net loss from continuing operations
(2,791,751
)
(2,067,069
)
(6,530,079
)
(6,855,692
)
Discontinued operations:
Income (Loss) from discontinued operations
(174,585
)
(53,861
)
(191,379
)
481,870
Income tax benefit
-
-
-
-
Loss from discontinued operations
(174,585
)
(53,861
)
(191,379
)
481,870
Net Loss
(2,966,336
)
(2,120,930
)
(6,721,458
)
(6,373,822
)
Net loss per share for the period
Basic and diluted:
Continuing operations
(0.69
)
(1.89
)
(1.64
)
(8.53
)
Discontinued Operations
(0.04
)
(0.05
)
(0.05
)
0.6
Net loss per share attributable to Common Stockholders - basic and diluted
(0.73
)
(1.94
)
(1.69
)
(7.93
)
Weighted average outstanding common shares
Basic and diluted
4,048,209
1,095,973
3,985,313
803,909
Table 3. Consolidated Statements of Cash Flows
Expressed in U.S. Dollars
For the Nine Months Ended March 31,
2026
2025
$
$
Cash provided by (used in):
Operating Activities
Net loss
(6,721,458
)
(6,373,822
)
Items not requiring cash:
Amortization and depreciation
156,912
160,087
Share-based compensation
84,240
92,577
Amortization of right-of-use assets
291,245
243,555
Unrealized foreign exchange loss
27,730
44,876
Changes in operating assets and liabilities:
Prepaids and other currents assets
(294,825
)
(61,581
)
Other non-current assets
(4,368
)
-
Accounts payable and accrued liabilities
(218,577
)
(349,399
)
Lease obligations
(327,395
)
(315,221
)
Operating cash flow used by discontinued operations
1,327,501
570,483
Total cash used in operating activities
(5,678,995
)
(5,988,445
)
Investing Activities
Sale of short-term investments
41,667
40,039
Purchase of short-term investments
(41,667
)
(40,039
)
Total cash used in investing activities
-
-
Financing Activities
Proceeds from the private placement
231,675
4,361,220
Share issuance costs
(137,178
)
(264,559
)
Total cash provided by financing activities
94,497
4,096,661
Decrease in cash and cash equivalents during the period
(5,584,498
)
(1,891,784
)
Cash and cash equivalents beginning of the period
10,743,430
6,571,610
Cash and cash equivalents end of the period
5,158,932
4,679,826
SUPPLEMENTARY CASH FLOW INFORMATION:
Cash paid during the period for:
-
-
Income taxes
$
-
$
-
Interest
$
-
$
-
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Recognition of Right-of-use asset and corresponding operating lease
$
-
$
187,223
About InMed
InMed Pharmaceuticals is a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed's pipeline consists of three separate programs in the treatment of Alzheimer's, ocular and dermatological indications. For more information, visit www.inmedpharma.com.
Investor Contact:
Colin Clancy
Vice President, Investor Relations
and Corporate Communications
T: +1.604.416.0999
E: ir@inmedpharma.com
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Without limiting the foregoing, forward-looking information in this news release includes, but is not limited to, statements about; the potential efficacy of INM-901, INM-901's ability to treat Alzheimer's, marketability and uses for INM-901; preclinical data demonstrating the effects of INM-901 in reducing neuroinflammation in 3D human brain organoid models of Alzheimer's disease. demonstrated significant reduction in neuroinflammation in Stem Pharm's LPS-induced model and in their Alzheimer's disease model.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: the ability to obtain all necessary regulatory approvals on a timely basis, or at all; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause InMed's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing InMed's stand-alone business is disclosed in InMed's Annual Report on Form 10-K, InMed's Quarterly Report on Form 10-Q and other filings with the Security and Exchange Commission on www.sec.gov.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
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- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
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