INM News & Events

InMed Pharmaceuticals announced that it has entered into an amendment to the previously announced definitive merger agreement for an all-stock transaction with Mentari Therapeutics, a privately-held biotechnology company developing therapies for migraine prevention, Indigo Merger Sub Corp., a wholly-owned subsidiary of InMed, and Indigo Merger Sub II, LLC, a wholly-owned subsidiary of InMed. InMed also announced that it has filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission containing a preliminary proxy statement/prospectus and management information circular in connection with the proposed merger and related transactions contemplated by the Agreement. The Amendment, among other things, clarifies the sequencing of the Contemplated Transactions, reflects clarifications regarding the impact of the pre-closing financing on the exchange ratio, and clarifies the intended tax treatment of the Merger. Except as specifically modified by the Amendment, the Agreement remains in full force and effect. The Merger has received approval by the Boards of Directors of InMed and Mentari and is expected to close in the fourth quarter of 2026, subject to certain closing conditions, including, among others, approval by the shareholders of InMed and the stockholders of Mentari, the effectiveness of the S-4, and the satisfaction of other customary closing conditions. InMed filed on July 2, 2026 the S-4 containing a preliminary proxy statement/prospectus and management information circular with the SEC in connection with the Merger. The S-4 outlines the strategic rationale and merits of the Merger, as well as the processes undertaken by InMed and Mentari and their respective Boards of Directors in reaching their recommendations. While the S-4 has not yet become effective and the information contained therein is subject to change, it provides important information about the Contemplated Transactions. Once declared effective by the SEC, a date for a special meeting for InMed shareholders to approve the proposals associated with the transaction will be set, and the definitive proxy statement/prospectus and management information circular will be mailed to InMed shareholders prior to the vote.

InMed Pharmaceuticals announced that it had received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC on June 3, 2026 informing the company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement for continued listing on Nasdaq. As previously disclosed, the company was notified by Nasdaq on March 27, 2026 that its common shares had failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days. Nasdaq has now determined that the closing bid price of the company's common stock was at or above $1.00 per share for 10 consecutive business days from May 19, 2026 to June 2, 2026. Accordingly, the company has regained compliance with Nasdaq Listing Rule 5550(a)(2), and Nasdaq has advised the company that the matter has been closed.

InMed Pharmaceuticals has entered into a definitive merger agreement for an all-stock transaction with Mentari Therapeutics, a privately-held biotechnology company developing therapies for migraine prevention, Indigo Merger Sub Corp. a wholly-owned subsidiary of InMed, and Indigo Merger Sub II, a wholly-owned subsidiary of InMed. The merger brings together Mentari's differentiated migraine pipeline with InMed's public market infrastructure, positioning the combined company to expedite the development of new therapies for people living with migraine. Upon consummation of the transaction contemplated by the Agreement, the combined entity will operate as Mentari Therapeutics and trade on the Nasdaq Capital Market under a new ticker symbol. The private placement will result in gross proceeds to the combined company of approximately $290M and is expected to fully fund its operations through 2028, beyond the generation of anticipated key clinical datasets from Mentari's parallel lead programs. These programs include MT-001, an anti-PACAP monoclonal antibody with Phase 2a proof-of-concept data expected in 2028, and MT-002, a potentially first-in-class bispecific antibody with Phase 1 healthy volunteer data expected in 2027.

InMed Pharmaceuticals announces that it has entered into an amending agreement with Armistice Capital Master Fund in respect of certain outstanding preferred investment options held by Armistice. As previously reported, pursuant to the terms of certain preferred investment options dated October 26, 2023 issued to Armistice, the Company provided Armistice with the right to subscribe for and purchase from the Company up to 278,761 common shares in the capital of the Company at an exercise price per common share of $16.60, subject to adjustment. The Company has entered into an amending agreement with Armistice in respect of the Armistice Preferred Investment Options to amend the Armistice Exercise Price from $16.60 to $0.80.