InMed Pharmaceuticals (TSE:IN) Stock Price Down 1.6% – Time to Sell?

InMed Pharmaceuticals Inc. (TSE:IN) was down 1.6% on Monday . The company traded as low as C$4.13 and last traded at C$4.19. Approximately 17,035 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 29,552 shares. The stock had previously closed at C$4.26.

InMed Pharmaceuticals Stock Down 1.6 %

The company has a market cap of C$33.73 million and a price-to-earnings ratio of -2.77. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 8.48. The company’s 50 day moving average is C$4.19.

InMed Pharmaceuticals Company Profile

InMed Pharmaceuticals Inc, a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company's lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain.