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InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) Posts Net Loss Of CAD 2.81 million In Q3 2020

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[ctt template=”12″ link=”wEp11″ via=”yes” ]InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) Posts Net Loss Of CAD 2.81 million In Q3 2020[/ctt]

InMed Pharmaceuticals Inc (OTCMKTS:IMLFF) has reported a net loss of CAD 2.81 million in Q3 2020. Eric A. Adams, Chief Executive Officer and President of InMed, said the company has achieved important milestones in cannabinoid biosynthesis programs and therapeutic development in Q3 2020.

Developmental efforts of CBD to treat skin diseases

Eric said the company continues the clinical development of CBD as a treatment option for ocular and skin diseases. The ongoing formulation and preclinical work with INM-088 and the completion of phase 1 clinical trial using INM-755 confirm its developmental efforts of CBD to treat skin diseases.

Acceptance of CTA in April 2020

With the acceptance of the clinical trial application in April, InMed initiates the second phase 1 clinical trial of INM-755. The company also strengthens its patent for therapeutic cannabinoid applications that comprise the potential cure for glaucoma. It is also pleased with the progress achieved by its scientific team in innovative cannabinoid manufacturing techniques by working closely with companies like Almac Group (UK).

Issues an update on R&D

INM-755 to treat epidermolysis bullosa

According to a news release on April 1, 2020, InMed has completed the phase 1 clinical trial of CBN Skin Cream – INM-755 to evaluate 755-101-HV to treat epidermolysis bullosa. It has not noticed any adverse events in the clinical trial of 755-101-HV in healthy volunteers on their intact skin. As a result, InMed has applied for a second phase 1 clinical trial, which will be conducted in healthy volunteers. In the second clinical trial of 755-102-HV, the company will evaluate the safety of INM-755 on patients suffering from epidermal wounds. The company has received the nod for its second CTA on April 30, 2020.

InMed is collaborating with its partners in the Netherlands to prepare enrollment for the clinical study 755-102-HV. The company expects to announce the results of phase 1 clinical trial of 755-101-HV in Q3 2020.

INM-088 to cure glaucoma

InMed has completed the in vivo and in vitro testing of the drug and expects to complete data analysis for INM-088. The company has applied for the patent for the neuroprotective effect of CBN to safeguard its IP. It expects to conduct additional steps in the INM-088 program that comprises selecting a final delivery mechanism.

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Companies Strengthening Leadership Position: Stock to Watch Aleafia Health Inc (OTCMKTS: ALEAF) and Item 9 Labs Corp (OTCMKTS: INLB)

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Aleafia Health Inc (OTCMKTS: ALEAF) and Item 9 Labs Corp (OTCMKTS: INLB) were looking to hire the senior position to support the company’s growth plan. As a result, Aleafia Health Inc (OTCMKTS: ALEAF) announced the appointment of its Chairman. On the other hand, Item 9 Labs Corp (OTCMKTS: INLB) hired several candidates in its strategic management team to support its growth.

New Chairman to support sustainable growth

Aleafia Health Inc (OTCMKTS: ALEAF), leading players in cannabis wellness products globally, announced the appointment of Mark J. Sandler as Chairman. Sandler is the longest-serving member of Aleafia Health’s board and was head of its Governance Committee. He is a leading trial and appellate lawyer. Besides this, he is also an adjudicator and mediator in regulatory matters, including securities litigation. Further, Mr. Sandler has served three terms as an elected member of the Law Society of Ontario’s governing body. 

The company is well placed to continue on its sustainable growth story. The company has marked its presence in the cannabis wellness product segment globally, from a start-up to a leading global company. In line with the company’s vision, the board under the leadership of Mr. Sandler will prioritize strong cooperative governance and sustainable growth in the medical and international markets.

Strengthening the strategic management team to support its growth

Item 9 Labs Corp (OTCMKTS: INLB) announced that the company hired several potential candidates to support its franchise expansion. The company is a vertically integrated cannabis dispensary franchisor. The company stated that they have successfully opened its first franchisee in Boulder, Colorado. To expand its franchisee, the company has hired Tracy Timko, as a Director of Franchise Support, Erica Tarnowski, as a Franchise Development Manager, Mike Keskey II as a General Counsel, Shabrina Glass as Executive Assistant. The company stated the new team is expected to add tremendous value to its growth and enable the company to scale its brands to their full potential. Besides this, the company is also looking for a potential candidate for several other senior-level positions to drive its vision.

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Skye Bioscience Inc. (OTCMKTS: SKYE) Adds Praveen Tyle to the Board of Directors as Medical Marijuana, Inc.’s (OTCMKTS: MJNA) Subsidiary Kannaway Joins Influential Japanese Groups in the Hemp Industry

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It seems the recent approvals of cannabinoid-based therapies are still not enough. According to Skye Bioscience Inc. (OTCMKTS: SKYE), they have just scratched the surface of the potential of how modulation of the ECS can impact health. So the biotech is quickly intervening. Thanks to its advanced technologies, which represent a scientific approach to realizing the pharmaceutical potential of cannabinoids. THCVHS is the company’s lead program and is focused on treating glaucoma an illness, which causes irreversible blindness. 

In its endeavor to scale up its operations, Skye has added Praveen Tyle to its Board as an independent director. The current President and Chief Executive Officer of Invectys, Inc. boast over 35 years of experience in the pharmaceutical industry. 

“…with expertise originating from a deep scientific foundation, Praveen has extensive cross-functional experience working with companies at various stages spanning big pharma through start-up biotech…,” CEO and Chair of Skye Bioscience, Punit Dhillon commented

Given his academic insight in clinical development, manufacturing, regulatory, and business development, Dr. Tyle will have the noble task of taking Skye to the next level of success in ophthalmic innovations and drug delivery. Besides, he has a wealth of industry exposure in multiple disease areas, including ocular disorders. 

Kannaway Joins Two of the Leading Hemp Industry Organizations in Japan

Admission into some of the influential groups within an industry comes with honor. Kannaway, a subsidiary of Medical Marijuana, Inc. (OTCMKTS: MJNA), understands exactly what this means. The network sales and marketing company is now part of the influential groups in the Hemp industry in Japan; Hokkaido Industrial Hemp Association (HIHA) and Association for Japan Cannabinoid (AJC). 

The company became an ambassador of tetrahydrocannabinol (THC)-free cannabidiol (CBD) products for personal in 2019. And since then, it has encountered potential growth opportunities. Hence, it will become one of the beneficiaries of the Japanese CBD market, which is rapidly expanding and is positioned to reach $5.3 billion by 2025.

According to Kannaway® CEO Blake Schroeder, their mission is to expand the rights for all citizens in Japan, whereby they can have easy access to hemp and hemp-derived products. 

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Trulieve Cannabis Corp (OTCMKTS: TCNNF) Expands its Footprint into the Southeast Hub; Thanks to a Production License Approval in Georgia

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The emergence of new products in the cannabis industry is a growing trend and is contributing immensely to the accessibility of cannabis. Additionally, the continued removal of legal and regulatory barriers is placing the industry in a position of expansive growth. These and other similar happenings will work in favor of the likes of Trulieve Cannabis Corp (OTCMKTS: TCNNF). 

The “seed-to-sale” company in the U.S. is also the first and largest fully licensed medical cannabis company in Florida. It distributes its in-house products in the state as well as directly to patients via home delivery. Today, it is a leading and top-performing cannabis company and has extended its services to Georgia. The approval of a production license Trulieve has solidified its presence in the Southeastern hub in the U.S. In addition, the license will facilitate the establishment of indoor cultivation and manufacturing facility in Adel.

Identifying and Developing Attractive Market Opportunities

As one of the oldest multi-state operators, Trulieve has established a strong track record. Thanks to solid foundations. Its approach and entry into the Georgia market explain its commitment to build the broadest patient access to medical marijuana in the state. 

“As the largest cannabis company…We strive to invest in underserved communities, source local materials and labor wherever possible, and be a good neighbor and partner everywhere we operate and this is what we intend to bring to the town of Adel and to Cook County…,” the company’s CEO, Kim Rivers reported

Trulieve has established a partnership with Harvest Health & Recreation Inc. through a deal worth $2.1 billion in other news. Rivers confirms that this is the largest and most exciting acquisition within the industry and will help them propel forward with an unparalleled platform for future growth. 

The two companies will bring together their capabilities to scale their businesses, innovation with an unparalleled platform for future growth. Additionally, the partnership allows Trulieve to access the Arizona market. 

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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