Shares of InMed Pharmaceuticals surged on Tuesday after the company revealed the selection of a lead Alzheimer’s drug candidate, backed by encouraging proof-of-concept study results.
At the time of this publication, InMed Pharmaceuticals Inc stock (INM) has witnessed a surge.
InMed Pharmaceuticals Inc
Current Price: $1.52
Change : +0.94
Change (%): (162.05%)
Volume: 83.4M
Source: Tomorrow Events Market Data
In a breakthrough development, InMed’s INM-901 exhibited distinctive pharmacological effects specific to Alzheimer’s disease during preclinical trials. The company now sets its sights on advancing this promising candidate within its pharmaceutical drug development program.
Eric Hsu, the Senior Vice President of Preclinical Research and Development at InMed, expressed confidence in the potential of this cannabinoid analog, stating, “We are optimistic that the next stage of studies will continue to show how this cannabinoid analog can improve neuronal function, a potential breakthrough in Alzheimer’s treatment.”
The experimental drug, INM-901, displayed notable trends in enhancing cognitive function and memory, locomotor activity, anxiety-related behavior, and sound awareness, according to InMed’s recent announcement.
InMed Pharmaceuticals specializes in the comprehensive spectrum of pharmaceutical activities, encompassing research, development, manufacturing, and commercialization of rare cannabinoids and their analogs. This milestone in Alzheimer’s research not only signifies a significant advancement for InMed but also holds promising implications for the broader field of neurodegenerative disease treatment.
Investors and stakeholders are closely monitoring InMed Pharmaceuticals as they progress towards the next crucial stages of clinical trials.
InMed Pharmaceuticals’ remarkable strides in Alzheimer’s research have not only elevated hopes for a breakthrough treatment but also significantly impacted the shares of the company, reflecting the profound potential of their pioneering work. As the company moves forward with its groundbreaking research, the medical community and pharmaceutical industry eagerly anticipate further insights into the potential of INM-901 as a viable solution for Alzheimer’s disease.
