Why InMed Pharmaceuticals Stock Is Soaring Tuesday
Portfolio Pulse from Adam Eckert
InMed Pharmaceuticals Inc (NASDAQ:INM) shares soared after the company announced it has selected a lead Alzheimer's drug candidate following positive proof-of-concept study data. The company's INM-901 demonstrated unique pharmacological effects in Alzheimer's disease in preclinical studies. The company now plans to advance the Alzheimer's candidate into its pharmaceutical drug development program.
October 24, 2023 | 2:20 pm
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POSITIVE IMPACT
InMed Pharmaceuticals' stock price is likely to increase in the short term due to the positive news about its Alzheimer's drug candidate.
The announcement of a lead Alzheimer's drug candidate following positive study data is a significant development for InMed Pharmaceuticals. This news is likely to boost investor confidence in the company, leading to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100