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InMed posts $2.3m quarterly loss as Mentari merger vote nears and Nasdaq accepts equity plan

🇺🇸 InMed Pharmaceuticals Inc. (INM) · Tue 03 Nov 2026

With cash of $1.0m covering operations only into mid-November, InMed says its proposed Mentari Therapeutics merger should cure a Nasdaq equity shortfall; shareholders vote on 4 November.

InMed Pharmaceuticals reported a net loss of about $2.3m for the quarter ended 30 September 2026, the first quarter of its 2027 financial year. The company held cash of $1.0m at the end of the period, which it expects to fund operations only into mid-November.

Nasdaq has accepted InMed's plan to regain compliance with the exchange's shareholders' equity requirement, giving the company until 15 March 2027 to cure the shortfall. InMed said it expects the proposed merger with Mentari Therapeutics to resolve the deficiency.

The shareholder meeting on the merger is set for 4 November 2026, one day after the results announcement.

InMed also said it has held a pre-IND meeting with the US Food and Drug Administration on INM-901, its candidate for Alzheimer's disease. A pre-IND meeting is an informal step in which a sponsor seeks FDA feedback before filing an investigational new drug application. The summary available does not detail the outcome of that meeting.

What it means for your team

  • The very short cash runway means the outcome of the 4 November vote is critical to InMed's ability to continue operating.
  • Teams tracking INM-901 should note the FDA pre-IND meeting has taken place, but no feedback or timelines have been disclosed in the material available.
  • Partners and counterparties should watch for further disclosures after the shareholder vote, as the Nasdaq compliance deadline of 15 March 2027 depends on the merger completing.

Company's press release (SEC filing): InMed Pharmaceuticals Inc. ↗

Article written by VigiEye from the official source (InMed Pharmaceuticals Inc.). Claims are the company's own. AI-assisted; check the source before acting.

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