By the end of last week, the company had dipped to $0.28 a share – a depreciation of around 30% in a matter of weeks.
This week, however, things have turned around a little bit and the company has spiked to current levels at $0.35 apiece.
This circa recovery could be the start of a longer-term turnaround for InMed.
Here is a look at what is driving the action and what we see as potentially pushing this one higher heading into the close of the year.
For those new to the company, InMed is a biotechnology company that is trying to develop a portfolio of assets towards commercialization in the US, all of which are rooted in cannabis and cannabis science.
The company has developed a proprietary technology platform that allows for the isolation and subsequent cultivation of up to 100 cannabinoids outside of the standard CBD and THC normally associated with this area of biotechnology. The idea is that some of these cannabinoids can be used to treat various conditions in a more effective manner than can either of the two common cannabinoids just mentioned, but because of the difficulty in isolation that has existed to this point, it’s been tough to create any sort of consistent treatment asset and trial it in line with FDA requirements.
The first major application of this technology was reported over the last couple of days, and it is this news that is driving the action we are seeing InMed right now.
READ THE FULL ARTICLE AND ANALYSIS AT INSIDER FINANCIAL
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