Nano-Cap InMed Ignites Retail Frenzy As Stock Soars After Alzheimer's Drug Trial Shows Promise

The positive trial results propelled InMed into the top 25 trending stocks on Stocktwits, with a flood of bullish comments on the platform.

Shares of InMed Pharmaceuticals surged to levels not seen in nearly five months, capturing significant attention from retail investors. 

The biopharma company, with a market cap of just under $4 million, announced on Tuesday that its INM-901 small molecule drug candidate for Alzheimer's disease demonstrated promising results in a recent clinical trial.

The study showed that INM-901 significantly reduced several markers of neuroinflammation, both in plasma and the brain. 

Specifically, the high-dose treated group exhibited a dose-dependent reduction in pro-inflammatory cytokines and neurofilament light chain levels in the plasma. 

Additionally, the trial indicated a reduction in key neuroinflammatory genes in the brain, signaling a potential breakthrough in Alzheimer's treatment.

Eric Hsu, InMed's Senior Vice President of Preclinical R&D, expressed excitement over the results, noting, "The ability of INM-901 to actively reduce inflammation is an exciting development, as neuroinflammation has emerged as a promising new drug target beyond existing AD treatments focused primarily on removing amyloid beta plaques and tau protein tangles." 

He added, "INM-901 may address multiple pathological factors, making it a very promising drug candidate."

The positive trial results propelled InMed into the top 25 trending stocks on Stocktwits, with a flood of bullish comments on the platform. 

One user expressed happiness with the stock's surge and speculated on the potential for a buy-out.

Another suggested that InMed's current levels were too good an entry point to miss.

According to Koyfin data, InMed has only about 718,000 shares outstanding and a short interest of 1.3%. 

While InMed's stock is down nearly 30% over the past 12 months, it has gained approximately 14% this year.

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