InMed Posts $2.3 Million Quarterly Loss

The Canadian pharmaceutical company reported a fiscal first-quarter net loss of $2,330,778 for the period ended September 30, 2026.

Updated on Nov. 3, 2026 in Corporate Finance

InMed Pharmaceuticals posted a net loss of $2,330,778, or $0.42 per share, for its fiscal 2027 first quarter ended September 30, 2026. The company reported lower research and development spending alongside higher general and administrative costs.

Why it matters

The company's cash position is narrowing, and it has forecast that available funds will cover planned costs only into mid-November, depending on spending levels and the timing of a proposed merger. Nasdaq has also set a deadline of March 15, 2027, for InMed to regain compliance with its shareholders' equity requirement.

The $0.42 per share loss included $0.36 from continuing operations and $0.06 from discontinued operations. Cash and short-term investments totalled about $1.13 million at quarter-end, and the company's runway depends on spending levels and merger timing.

The players

InMed Pharmaceuticals

A Canadian pharmaceutical company developing cannabinoid-based therapies, which is seeking a merger with Mentari Therapeutics.

Mentari Therapeutics

A drug developer with a migraine pipeline, which is the proposed merger counterparty to InMed.

Nasdaq

The U.S. stock exchange where InMed is listed, which has set compliance deadlines for the company's shareholders' equity requirement.

The details

InMed cut research and development spending by more than half from a year earlier, while general and administrative costs rose by roughly 46 per cent. The company said its available cash would cover planned operating expenses and capital expenditures into mid-November, conditional on expenditure levels and when the proposed merger closes.

June 30, 2026: Prior quarter-end cash and short-term investment balances recorded.
September 30, 2026: Fiscal first quarter 2027 ended; net loss per share reported.
October 30, 2026: Nasdaq accepted InMed's shareholders' equity compliance plan.
November 4, 2026: Annual general and special meeting on merger-related proposals.
Mid-November 2026: Forecast date through which available cash covers planned costs.

Market Dynamics

Nasdaq's shareholders' equity requirement obliges listed companies to maintain minimum equity levels or submit a compliance plan, and InMed's acceptance on October 30 gives it until March 15, 2027. The company's shrinking cash balance places it in a tighter position within that process than in the prior quarter.

Shareholders face a company whose cash covers planned costs only into mid-November unless the financing picture changes, so the outcome of the merger vote will directly affect the value of their holdings. Investors weighing InMed's shares should track both the November 4 meeting and the March 15, 2027 listing deadline.

The takeaway

A net loss of $0.42 per share alongside a cash runway ending in mid-November makes the November 4 shareholder meeting the key near-term checkpoint for InMed's future.

What happens next

The proposed merger with Mentari Therapeutics is scheduled for a shareholder vote at the November 4, 2026 annual general and special meeting, and Nasdaq's compliance deadline is March 15, 2027.