InMed Pharmaceuticals Inc
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Health Care : Biotechnology | Small Cap Growth
Based in CanadaCompany profile

InMed Pharmaceuticals Inc. is a pre-clinical-stage biopharmaceutical company. The Company specializes in the research and development of cannabinoid-based therapies combined with drug delivery systems. The Company operates through the segment of research and development of pharmaceutical cannabis based-therapies. The Company is working on two products, which include INM-750, for the treatment of Epidermolysis Bullosa (EB), and INM-085, for the treatment of Glaucoma. The INM-750 is a therapy developed for EB designed specifically to modulate disease activity and to alleviate symptoms. The INM-085 is designed as a dual-action cannabinoid ocular therapy. INM-085 is designed as a topical formulation to be administered directly to the eye. It is working on the development of several cannabinoid-based treatments for multiple diseases, including ocular, dermatology, cancer, inflammation, pain and arthritis disease areas. Its subsidiary is Biogen Sciences Inc. (BSI).

Closing Price
$0.2094
Day's Change
0.0234 (12.58%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.24
Day's Low
0.185
Volume
(Heavy Day)
Volume:
805,287

10-day average volume:
271,100
805,287

These tech companies are staying flush despite concerns that Corporate America's cash pile is set to dwindle this year

2:16 pm ET November 13, 2019 (MarketWatch)
Print

By Sunny Oh

Seven tech companies held 41% of the total cash among U.S. corporations in 2019

Even as cash stockpiles among U.S. corporations have dwindled steadily since 2017, more of these reserves are being concentrated in the hands of a select few tech firms, according to a new report.

Moody's on Wednesday issued a forecast that total cash holdings among U.S. non-financial companies would drop another 7.5% by the end of this year, falling to $1.55 trillion, as business executives look to pay down maturing debt and hand cash to shareholders through buybacks and dividends.

See: After Trump tax cuts, corporate cash hoards finally shrink (http://www.marketwatch.com/story/after-trump-tax-cuts-corporate-cash-hoards-finally-shrink-2019-06-10)

Yet only seven technology firms were expected to carry 41% of the total cash in all nonfinancial U.S. companies this year, versus 17% at the end of 2009, according to Moody's. Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Facebook (FB) Cisco and Oracle (ORCL) would hold $638 billion on their balance sheets.

Those companies were expected to see only a 1% decline in their cash holdings in 2019, while all seven firms also were pegged to reduce their debt levels.

Investors sometimes looked to large cash stockpiles among U.S. corporations as a buffer against the record level of debt racked up by nonfinancial corporations as C-suite executives seized on depressed interest rates to lock in lower borrowing costs.

But with much of that cash now holed up at a limited number of businesses, the credit profile of broader corporate America may be less robust than at first glance.

-Sunny Oh; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 13, 2019 14:16 ET (19:16 GMT)

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