Nano-Cap InMed Ignites Retail Frenzy As Stock Soars After Alzheimer's Drug Trial Shows Promise

Shares of InMed Pharmaceuticals surged to levels not seen in nearly five months, capturing significant attention from retail investors. 

The biopharma company, with a market cap of just under $4 million, announced on Tuesday that its INM-901 small molecule drug candidate for Alzheimer's disease demonstrated promising results in a recent clinical trial.

The study showed that INM-901 significantly reduced several markers of neuroinflammation, both in plasma and the brain. 

Specifically, the high-dose treated group exhibited a dose-dependent reduction in pro-inflammatory cytokines and neurofilament light chain levels in the plasma. 

Additionally, the trial indicated a reduction in key neuroinflammatory genes in the brain, signaling a potential breakthrough in Alzheimer's treatment.

Eric Hsu, InMed's Senior Vice President of Preclinical R&D, expressed excitement over the results, noting, "The ability of INM-901 to actively reduce inflammation is an exciting development, as neuroinflammation has emerged as a promising new drug target beyond existing AD treatments focused primarily on removing amyloid beta plaques and tau protein tangles." 

He added, "INM-901 may address multiple pathological factors, making it a very promising drug candidate."

The positive trial results propelled InMed into the top 25 trending stocks on Stocktwits, with a flood of bullish comments on the platform. 

One user expressed happiness with the stock's surge and speculated on the potential for a buy-out.

Another suggested that InMed's current levels were too good an entry point to miss.

According to Koyfin data, InMed has only about 718,000 shares outstanding and a short interest of 1.3%. 

While InMed's stock is down nearly 30% over the past 12 months, it has gained approximately 14% this year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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