InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Issues Update on BayMedica Rare Cannabinoid Business
July 20, 2023

InvestorNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Issues Update on BayMedica Rare Cannabinoid Business

InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development, manufacturing and commercialization of rare cannabinoids and cannabinoid analogs, today provided a commercial and manufacturing update on its subsidiary BayMedica LLC, a leading supplier of bioidentical rare cannabinoids to the health and wellness (“H&W”) market. Among the highlights, the company reported a 123% quarter-over-quarter increase in revenues. “We are very encouraged to see another strong quarter with (unaudited) revenues in excess of $2.3M, representing our third consecutive quarter with significant revenue growth,” said Eric A. Adams, InMed’s president and CEO. “As demand for minor cannabinoids continues to increase, we see a potential path for BayMedica to become a profitable standalone business subsidiary and contribute margin to the pharmaceutical R&D parent.”

To view the full press release, visit https://ibn.fm/fjll8

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. The company also has significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, visit www.InMedPharma.com and www.BayMedica.com.

NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://ibn.fm/INM

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(862) 930-1404

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).