aibioInMed Pharmaceuticals gets Nasdaq minimum bid price deficiency notice
Tickers INM
Nasdaq told InMed on March 27, 2026 that its shares closed below $1.00 for 30 consecutive trading days. The company has 180 calendar days to regain compliance and keeps trading as INM.
Key facts
- Company
- InMed Pharmaceuticals Inc. (NASDAQ: INM)
- News type
- Listings
- Primary source
- InMed Pharmaceuticals Inc. Form 8-K filed March 30, 2026 (SEC EDGAR)
InMed Pharmaceuticals Inc. received a Nasdaq minimum bid price deficiency notice on March 27, 2026, according to a Form 8-K it filed on March 30, 2026. The letter from the Listing Qualifications Department says the closing bid price of the company's common shares was below the $1.00 minimum for continued listing on The Nasdaq Capital Market for 30 consecutive trading days, during the period from February 11, 2026 to March 26, 2026. The rule at issue is Nasdaq Listing Rule 5550(a)(2).
What the notice means
A bid price deficiency is a warning, not a delisting. InMed has 180 calendar days from the written notice to cure the deficiency and regain compliance. The filing says the notice has no immediate impact on the listing, and the shares continue to trade under the symbol INM. InMed says it intends to monitor the closing share price and explore its options to regain compliance.
The second period and the appeal risk
If InMed does not regain compliance in the first 180 days, it may be eligible for a second 180-day period. To qualify, it must meet the market value of publicly held shares requirement and the other initial listing standards for the Capital Market, apart from the bid price rule. It must also give Nasdaq written notice that it intends to cure the deficiency during that second period, by effecting a reverse stock split if necessary.
If Nasdaq concludes the company is not eligible, or the company does not regain compliance, Nasdaq will issue a delisting notice. InMed can appeal to a Nasdaq Hearings Panel. The 8-K says the securities would be automatically suspended from trading on Nasdaq while that appeal is pending. It also says there can be no assurance an appeal would succeed, or that the company could meet the terms of any extension the panel grants.
Going concern and debt
The annual report filed September 23, 2025 says the company's operating losses have raised substantial doubt about its ability to continue as a going concern. It says the company will require additional capital to fund its operations, and it warns that failure to raise that capital could hurt the business.
The report also describes a Second Amended and Restated Credit Agreement and other debt. It warns that cash flow used to pay interest and principal on that debt would reduce the funds available for working capital and other corporate purposes, and that the debt could limit its ability to borrow more. The 8-K does not describe the credit agreement's lender or its current balance.
The business
InMed describes itself as a pharmaceutical company developing small molecule drug candidates that act on the CB1 and CB2 receptors of the endocannabinoid system, along with other receptor targets. Its programs cover Alzheimer's disease, eye disease and epidermolysis bullosa, or EB, a rare skin condition.
INM-901 is the Alzheimer's program. Its ocular programs include INM-089 for dry age-related macular degeneration and INM-088 for glaucoma, both described as preclinical. The annual report says the company completed a Phase 2 trial of INM-755, a cannabinol cream, in EB. It reports a positive indication of enhanced anti-itch activity against the control cream alone, but calls that result an exploratory clinical evaluation. The company says it is pursuing partnerships for INM-755 in EB and other itch-related skin conditions.
InMed also owns BayMedica, LLC, which sells bulk rare, non-intoxicating cannabinoids to other businesses as raw materials for the health and wellness sector. The company says BayMedica's revenue is one of the uncertainties affecting its results, and it describes a proprietary manufacturing approach called IntegraSyn. The company has said its IntegraSyn approach still needs to be scaled up.
The people who signed
President and Chief Executive Officer Eric A. Adams signed the 8-K. The annual report was signed by Chief Financial Officer Netta Jagpal, and by Adams as president, chief executive officer and director. Andrew Hull, Bryan Baldasare and Nicole Lemerond also signed as directors, and Hull is listed as chairman of the board.