Stock Alert: InMed Pharma Gains 5%

(RTTNews) - Shares of InMed Pharmaceuticals Inc. (INM) are gaining over 5% on Thursday morning after the clinical-stage company developing cannabinoid-based pharmaceutical drug candidates announced that its continued optimization of IntegraSyn has increased the cannabinoid yield to a level of 5 g/L.

INM is currently trading at $2.95, up $0.15 or 5.3571%, on the Nasdaq. The stock has traded between $2.55 and $8.94 in the 52-week period.

InMed's cannabinoid yield of 5 g/L significantly exceeds currently reported industry yields, the company said. InMed continued to make important steps to further optimize the IntegraSyn manufacturing process, resulting in the improved yield of 5 g/L, surpassing InMed's previously reported yield levels of 2 g/L, an already commercially viable yield.

InMed said it is now focused on manufacturing scale-up to larger batch sizes in the second half of calendar year 2021.