InMed Pharmaceuticals (TSE:IN) Shares Down 11.1%

InMed Pharmaceuticals Inc (TSE:IN)’s share price dropped 11.1% on Wednesday . The company traded as low as C$0.31 and last traded at C$0.32, approximately 132,776 shares traded hands during mid-day trading. A decline of 52% from the average daily volume of 275,583 shares. The stock had previously closed at C$0.36.

The stock has a market capitalization of $51.69 million and a P/E ratio of -3.86. The business’s 50 day simple moving average is C$0.25 and its two-hundred day simple moving average is C$0.28. The company has a quick ratio of 10.09, a current ratio of 10.30 and a debt-to-equity ratio of 3.36.

InMed Pharmaceuticals (TSE:IN) last released its quarterly earnings data on Friday, November 8th. The company reported C($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of C($0.02). Analysts predict that InMed Pharmaceuticals Inc will post -0.09 earnings per share for the current year.

About InMed Pharmaceuticals (TSE:IN)

InMed Pharmaceuticals Inc, a pre-clinical stage biopharmaceutical company, researches and develops cannabinoid-based therapies. The company's lead product is INM-750, a topical cannabinoid product candidate to treat epidermolysis bullosa. The company is also involved in developing INM-085, a cannabinoid-based topical therapy for glaucoma; and INM-405 for the treatment of orofacial pain.

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