InMed Pharmaceuticals Inc. Common Shares (INM)

FairStock Score: 53/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Looking at InMed, I see a speculative biotech, not a value investment. It is a six-employee drug developer pursuing cannabinoid-based candidates for Alzheimer's disease, dry age-related macular degeneration, and a cannabinol cream. The filed numbers show no durable earning power. In fiscal Q3 2026, the quarter ended 2026-03-31, revenue was not reported, net income was -$3.0M, and diluted EPS was -$0.73. In fiscal Q2 2026, the quarter ended 2025-12-31, revenue was $820,188, net income was -$2.0M, and diluted EPS was -$0.51. For fiscal year 2026, the year ended 2026-06-30, net income was -$12.6M and diluted EPS was -$3.12; for fiscal year 2025, the year ended 2025-06-30, revenue was $4.9M and net income was -$8.2M. Losses are not narrowing on an annual basis, and the company has lost money in each of the last four years, so the computed Lynch category is none. At the 2026-10-13 close of $1.33, FairStock's calculations show a P/E of -0.47, P/B of 6.65, ROE of -156.77%, ROCE of -66.46%, and FCF yield of -118.3%. Trailing free cash flow was -$8.6M, so the business burns more cash than its entire $7.3M market capitalization. The balance sheet has low debt, D/E 0.06, but that is cold comfort with a Piotroski score of 1/9, an Altman Z-score of -59.68, and no profits. Drug development can produce a miracle, but I cannot identify a moat, predictable earnings, or a margin of safety. The price is not cheap; it is a lottery ticket.

In plain English: InMed is a tiny drug company with six employees that is testing cannabinoid-based medicines for Alzheimer's disease, a type of age-related eye disease, and a skin cream. It has not been profitable, recent annual filings show losses, and the cash burn is larger than the company's whole market value. At the latest close, the price looks expensive for a business with no profits and weak reported financials.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-03-31) · fiscal Q2 2026 10-Q (period ended 2025-12-31) · fiscal Q1 2026 10-Q (period ended 2025-09-30) · fiscal Q3 2025 10-Q (period ended 2025-03-31) · FY2026 10-K (period ended 2026-06-30) · FY2025 10-K (period ended 2025-06-30) · FY2024 10-K (period ended 2024-06-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer