InMed Q1 net loss widens to $2.3 million as Mentari merger nears shareholder vote
InMed Pharmaceuticals reported a first-quarter fiscal 2027 net loss of $2.3 million for the quarter ended September 30, 2026, up from $1.7 million a year earlier, and cash fell to $1.0 million from $2.2 million at June 30, 2026. The company said its cash is expected to fund operations into mid-November, and it reported shareholders' equity of negative $1.2 million, below Nasdaq's $2.5 million minimum, with a compliance deadline of March 15, 2027. Shareholders vote on the proposed Mentari merger at a meeting on November 4, 2026.
Key points
- Net loss of $2.3 million, or $0.42 per share, for the quarter ended September 30, 2026, compared with a net loss of $1.7 million, or $0.44 per share, a year earlier
- Cash and cash equivalents of $1.0 million at September 30, 2026, versus $2.2 million at June 30, 2026; cash expected to fund operations into mid-November
- Shareholders' equity was negative $1.2 million at September 30, 2026; Nasdaq set a March 15, 2027 deadline to regain compliance with its $2.5 million minimum
- Annual general and special meeting on November 4, 2026, to consider proposals needed to complete the Mentari merger, which is expected to close in the fourth quarter of calendar 2026
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.