Mentari Therapeutics completes InMed merger with $490 million financing
The merger between Mentari Therapeutics and InMed Pharmaceuticals closed on November 9, 2026, and the combined company now trades on the Nasdaq Capital Market as MTRI under the name Mentari Therapeutics, Inc. The closing included private placements with about $490 million in gross proceeds, which the company says provide runway into 2029, and the filing puts outstanding shares at about 58.3 million. The filing contains no revenue, profit, or guidance figures, so the financial effect on shareholders is defined mainly by the new capital and share count.
Key points
- Private financings totaled about $490 million in gross proceeds, led by Fairmount, including conversion of $50.0 million of previously issued convertible notes plus accrued interest.
- About 58.3 million shares of common stock and equivalents are outstanding after the reverse stock split, financings, and merger.
- Shares began trading on Nasdaq Capital Market under the ticker MTRI on November 9, 2026.
- Todd Shegog joined the Board and will chair the Audit Committee.
The filing
Written by AI on Nov 9, 2026, 8:25 AM ET, from this filing only.
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.