Tuesday, InMed Pharmaceuticals Inc. (INM) announced that its proprietary small molecule drug candidate, INM-901, is being developed as an oral formulation for Alzheimer's disease following its successful preclinical results. Following this announcement, the stock surged 388% in pre-market trading.
Research indicates that the orally administered INM-901 achieves therapeutic concentrations in the brain that are comparable to those obtained through intraperitoneal injections over a 24-hour period. The company emphasized that INM-901 offers an effective oral treatment option, enhancing accessibility for patients potentially lowering treatment costs, and addressing challenges associated with existing large molecule therapies.
The company stated that it is continuing its research on chemistry, manufacturing, dose responses, and pharmacokinetics to facilitate an IND submission.
In pre-market activity on the Nasdaq, the shares are trading at $0.72, up 388%.
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