InMed Pharmaceuticals (IMLFF: OTCQB) was a top performing stock in April’s Stock Challenge Wednesday. The pre-clinical stage biopharmaceutical company soared 35% to close at $0.56 per share on over 4.2 million traded.
According to the company, InMed specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. As every investor in Canada knows, the marijuana-related sector has remained extremely hot in recent months.
Investors have become focused on InMed’s proprietary bioinformatics database drug/disease targeting tool, cannabinoid biosynthesis technology and drug development pipeline. In conjunction, these are the fundamental value drivers of the Company.
Forbes on InMed Pharmaceuticals’ Potential
Forbes published an article on March 21st, titled InMed Pharmaceuticals Is More Than Just Another Cannabis Drug Company. Below is a short excerpt:
“InMed Pharmaceuticals is a Vancouver-based pre-clinical trial biotech company that has not only developed a proprietary cannabinoid manufacturing system but in the process created a highly sought after database. This database has mapped the different compounds of cannabinoids to the various diseases that it can address.
The database was created by InMed to assist them in their research and has now become a core asset as other biotech companies have come knocking on their door willing to pay for this information.”
Click here to read the entire article.
InMed Pharmaceuticals has been on fire in recent months. With attention never been greater on marijuana-related stocks, the company picked a good time to start expanding on its goals.
InMed Pharmaceuticals – 6 Month Chart
Like many companies that have gone on epic runs in 2016 and 2017, InMed is cashing in on warrants previously issued from financings.
On February 27th the company reported receiving over $1,350,000 from warrant exercises.
InMed Pharmaceuticals reported that prior to their expiry on Friday, February 24, 2017 a total of 10,672,750 common share purchase warrants have been exercised at a price of $0.13 per common share.
And that,
“Proceeds from the exercise of these warrants totaled $1,387,458 and 10,672,750 common shares were issued from InMed’s Treasury.”
Click here to read the entire press release.
Long-time member and past Stock Challenge Champ ‘IraM‘ selected InMed Pharmaceuticals for April. IraM’s single day return was 17.94%. IraM moved into 7th overall in April’s Stock Challenge. All members are chasing member ‘savage31‘ and his 28.27% return.
There are an amazing seven past Stock Challenge Champs in the Top 20 already. This would be a record if the Challenge were to end today.
