InMed Rockets with INM-901 as Potential Alzheimer's Game-Changer
- October 24th, 2023
- 749 views
Shares of InMed Pharmaceuticals Inc. (Nasdaq: INM) surged by over 100% in pre-market trading following the company's announcement that it has identified a promising lead candidate, INM-901, for the treatment of Alzheimer's disease, based on highly positive proof-of-concept study results.
InMed said that its cannabinoid analog INM-901 showed early potential in targeting various Alzheimer's-related pathways, including brain neuron protection and improved neuronal function. Preclinical studies also indicated positive trends in cognitive function, locomotor activity, anxiety-based behavior, and sound awareness compared to a placebo group.
The cannabinoid-focused drugmaker is now gearing up for advanced preclinical studies, including drug metabolism and pharmacokinetics, and taking steps toward pharmaceutical drug development.
$INM was trading a $1.58 in pre-market, up $1.00 (+172.41%)
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