InMed Faces Challenges from New U.S. Legislation
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InMed Pharmaceuticals announced that the H.R. 5371 Act may negatively impact its subsidiary, BayMedica Inc., by restricting certain commercial activities related to rare cannabinoids. However, InMed's core pharmaceutical programs remain unaffected. Analysts rate INM stock as a Sell with a $2.50 target, citing financial performance concerns. Despite a recent $5M private placement, operational losses and negative cash flows pose risks. InMed focuses on developing drug candidates targeting CB1/CB2 receptors for Alzheimer's and other conditions.
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