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Red Flags Detected

  • Going Concern (new) — The company explicitly states that winding down its only revenue-generating segment creates substantial uncertainty about its ability to continue as a going concern, and its auditors have issued going-concern warnings for two consecutive fiscal years.
  • Material Weakness (new) — The company acknowledges exposure from failure to fully remediate any material weakness in internal controls, a significant governance and financial reporting risk.
  • Dilution (new) — New investors face immediate dilution of $(1.20) per share, and the company has a substantial overhang of outstanding options and warrants, including 1,150,363 pre-funded warrants with an exercise price of $0.0001.
NASDAQ: INM InMed Pharmaceuticals Inc. 424B5

InMed Pharmaceuticals files for up to $1.2M at-the-market offering at $0.67/share amid going-concern warning

Filed April 3, 2026 · ~2 min read

Key Changes

  • high

    InMed is offering up to 1,811,416 common shares at $0.67 per share in an at-the-market offering, with gross proceeds of up to $1,213,648 and net proceeds to the company of $1,119,279.

    The Offering verify on EDGAR →
  • high

    The company is winding down BayMedica, its only revenue-generating segment, with completion targeted before June 30, 2026, creating substantial uncertainty about its ability to continue as a going concern.

    Risk Factors verify on EDGAR →
  • high

    InMed received a Nasdaq delisting notice on March 27, 2026, because its stock price closed below $1.00 for 30 consecutive trading days; it has 180 days to regain compliance.

    Risk Factors verify on EDGAR →

3 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 2, 2026 · How we verify