Brief: Inmed Pharmaceuticals Reports Full Year Fiscal 2022 Financial Results And Provides Business Update

InMed Pharmaceuticals

23/09/2022 17:34

Sept 23 (Reuters) - InMed Pharmaceuticals Inc  INM.O :
    * INMED PHARMACEUTICALS REPORTS FULL YEAR FISCAL 2022
FINANCIAL
RESULTS AND PROVIDES BUSINESS UPDATE
    * INMED PHARMACEUTICALS INC FY LOSS PER SHARE $33.17
    * INMED PHARMACEUTICALS- IN H2 FISCAL 2022 INMED AND ITS
BAYMEDICA
UNIT IMPLEMENTED SIGNIFICANT COST SAVING MEASURES, INCLUDING
SOME PERSONNEL CHANGES
    * INMED PHARMACEUTICALS INC- INITIATIVES INCLUDED A
REDUCTION IN
TOTAL HEADCOUNT AND VOLUNTARY SALARY REDUCTIONS FOR SEVERAL
MEMBERS OF MANAGEMENT
    * INMED PHARMACEUTICALS INC- CHANGES HAVE RESULTED IN A
REDUCTION
BY APPROXIMATELY 25% OF CURRENT WORKFORCE
    * INMED PHARMACEUTICALS- HEADCOUNT CUTS, COST REDUCTION
INITIATIVES, EXPECTED TO RESULT IN HUMAN RESOURCE EXPENSE
SAVINGS OF ABOUT 30% ON ANNUALIZED BASIS
    * INMED PHARMACEUTICALS INC- INMED PRESIDENT AND CEO ERIC A.
ADAMS
VOLUNTEERED A 28% REDUCTION IN SALARY AS COMPARED TO PREVIOUS
YEAR
    * INMED PHARMACEUTICALS INC- AS PART OF EXPENSE REDUCTION
INITIATIVES, NO EMPLOYEE RECEIVED AN ANNUAL PERFORMANCE BONUS
FOR FISCAL YEAR 2022

Source text for Eikon:  ID:nGNX5VdSJv 
Further company coverage:  INM.O 
 ((Reuters.Briefs@thomsonreuters.com;))