InMed Pharmaceuticals Inc. (OTC: IMLFF) is a penny stock with plenty of growth potential. The company specializes in research and development of cannabinoid-based medications. Unlike other cannabis companies, InMed aims to unlock the potential of minor cannabinoid components beyond THC and CBD.
InMed’s research is still in the pre-clinical stage, so returns from the stock are likely years away. The company’s biggest investment is in its proprietary biosynthesis technology. This technology will allow for efficient manufacturing of pharmaceutical grade cannabinoids. InMed recently published a new patent application for a cannabinoid synthesis method that could be utilized to develop in-house products. This technology could also be licensed to other producers.
In the near-term, the company aims to refine its technology, scale up synthesis and production, and lower the cost of producing pharmaceutical grade cannabinoids.
InMed recorded a net loss of $3.5 million in the most recent quarter. R&D expenses rose to $1.6 million, compared to $0.6 million a year ago. Administration expenses increased to $1.0 million from $0.8 million. This reflects the expansion of the business and its significant investments.
- 1 Year Price Growth: -59.94%
- YTD Price Growth: 52%
- 3 Month Price Growth: -28.89%
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