LONDON, Sept. 20, 2018 (GLOBE NEWSWIRE) -- InMed continues to make progress on its biosynthesis platform, optimizing the genes that lead E. coli to express the cannabinoids and scaling up the fermentation process, both crucial steps needed to achieve commercial scale to address the market. InMed is also optimizing the formulation for INM-750 for epidermolysis bullosa (EB). A final formulation is expected by the end of 2018. The company is also conducting pharmacology, toxicology and other pre-clinical studies in preparation for detailed discussions with regulatory authorities, which it expects to occur in H119. InMed is on track for an IND filing in H219.
We have adjusted our valuation from C$221m or C$1.45 per basic share (C$1.20 per diluted share) to C$234m or C$1.37 per basic share (C$1.05 per diluted share). The total value increased due to a higher level of net cash while the per share value decreased because of a larger number of shares outstanding. Otherwise, our valuation estimates are unchanged.
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