Canada's InMed Pharmaceuticals Q1 loss widens

Mentari Therapeutics

Tue 21:59

Overview
Canada pharmaceutical developer's fiscal Q1 net loss widened; research and development expenses down yr/yr
Company expects proposed merger with Mentari to provide financing and support Nasdaq compliance
Available cash projected to fund operations into mid-November, pending merger completion

Outlook
Company expects available cash to fund operations into mid-November 2026
InMed expects merger with Mentari to close in Q4 2026, subject to conditions
Company anticipates merger and financing will help regain Nasdaq compliance, but no assurance

Result Drivers
MERGER FOCUS - Co said reduction in operating activity and research spending was due to focus on completing proposed merger with Mentari
COST MONITORING - Co said it continues to closely monitor expenses while working toward completing the proposed merger and pursuing strategic opportunities for legacy assets

Company press release: ID:nNFC29TdsR

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Loss Per Share
 
$0.42
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)