PR Newswire
VANCOUVER, May 11, 2018
VANCOUVER, May 11, 2018 /PRNewswire/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN; OTCQX:IMLFF), a fully integrated, cannabinoid-based biopharmaceutical company that leverages its proprietary bioinformatics and biosynthesis platform technologies to develop novel therapeutics for the treatment of diseases with high unmet medical needs, today reported financial results for the three and nine months ended March 31, 2018, which is the Company's third quarter of fiscal year 2018 ("3Q18").
"During the third quarter of fiscal 2018, InMed continued to execute on its R&D and business strategy," stated President and Chief Executive Officer, Eric A. Adams. "InMed is making headway at establishing its leadership position as a fully-integrated cannabinoid pharmaceutical company; we are not only developing innovative therapies for the treatment of important diseases with high unmet medical needs, but are also leading the burgeoning cannabinoid sector with our first-in-class biosynthetic manufacturing technology. "Over the next several months," Mr. Adams concluded, "we will remain focused on building shareholder value via innovative scientific research and development, as well as attaining greater exposure within the investment community in the United States."
Business and R&D Update:
Corporate Update (expressed in Canadian Dollars):
Results of Operations (expressed in Canadian Dollars):
Table 1: Condensed consolidated interim statements of financial position (un-audited):
InMed Pharmaceuticals Inc. | ||||
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (un-audited) | ||||
As at March 31, 2018 and June 30, 2017 | | | | |
Expressed in Canadian Dollars | | | | |
| | March 31 | | June 30 |
| | 2018 | | 2017 |
| | | | |
ASSETS | | | | |
Current | | | | |
Cash and cash equivalents | $ | 11,549,971 | $ | 6,707,796 |
Short-term investments | | 2,331,655 | | - |
Taxes recoverable | | 50,505 | | 59,148 |
Prepaids and advances | | 41,561 | | 177,577 |
Total current assets | | 13,973,692 | | 6,944,521 |
| | | | |
Non-Current | | | | |
Property and equipment | | 63,793 | | 27,049 |
Intangible assets | | 1,296,330 | | 1,364,558 |
| | | | |
| | | | |
Total Assets | $ | 15,333,815 | $ | 8,336,128 |
| | | | |
LIABILITIES AND SHAREHOLDERS' EQUITY | | | | |
Current | | | | |
Trade payables | | 636,152 | | 369,674 |
| | | | |
| | | | |
SHAREHOLDERS' EQUITY | | | | |
Share capital | | 54,311,635 | | 43,153,871 |
Contributed surplus | | 8,671,900 | | 7,606,735 |
Accumulated deficit | | (48,285,872) | | (42,794,152) |
| | 14,697,663 | | 7,966,454 |
| $ | 15,333,815 | $ | 8,336,128 |
Table 2: Condensed consolidated interim statements of comprehensive loss (un-audited):
InMed Pharmaceuticals Inc. | ||||||||
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS (un-audited) | ||||||||
For the three and nine months ended March 31, 2018 and March 31, 2017 | | |||||||
Expressed in Canadian Dollars | | | | | | | | |
| | Three Months Ended | | Nine Months Ended | ||||
| | March 31 | | March 31 | ||||
| | 2018 | | 2017 | | 2018 | | 2017 |
| | | | | | | | |
Expenses | | | | | | | | |
General and administrative | $ | 814,982 | $ | 881,061 | $ | 2,391,617 | $ | 1,566,831 |
Research and development | | 554,750 | | 174,856 | | 1,350,182 | | 367,913 |
Amortization and depreciation | | 30,088 Werbung Mehr Nachrichten zur InMed Pharmaceuticals Aktie kostenlos abonnieren
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