$INM
InMed Pharmaceuticals Inc. Stock $inm

$inm Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000121390023039477 Filed on May 15, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2022 Q1
Revenue	$2.310M	$1.034M	$309.6K
YoY Change	348.75%	233.97%
Cost Of Revenue	$740.0K	$841.4K	$127.3K
YoY Change	179.2%	560.92%
Gross Profit	$1.570M	$192.5K	$182.3K
YoY Change	528.7%	5.61%
Gross Profit Margin	67.97%	18.62%	58.88%
Selling, General & Admin	$1.410M	$1.413M	$1.915M
YoY Change	-19.08%	-26.23%	46.18%
% of Gross Profit	89.81%	733.84%	1050.59%
Research & Development	$620.0K	$878.3K	$1.754M
YoY Change	-58.69%	-49.91%	-0.93%
% of Gross Profit	39.49%	456.24%	962.01%
Depreciation & Amortization	$50.00K	$50.69K	$53.34K
YoY Change	-7.39%	-4.97%	77.8%
% of Gross Profit	3.18%	26.33%	29.26%
Operating Expenses	$2.090M	$2.342M	$3.722M
YoY Change	-36.61%	-37.08%	18.91%
Operating Profit	-$520.0K	-$1.998M	-$3.540M
YoY Change	-82.94%	-43.55%	13.09%
Interest Expense	$180.0K	$152.8K	$63.96K
YoY Change	-603.64%	138.84%	113.2%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income	-$340.0K	-$1.996M	-$3.476M
YoY Change	-95.68%	-42.56%	12.12%
Income Tax	$0.00	$1.500K
% Of Pretax Income
Net Earnings	-$340.0K	-$1.998M	-$3.476M
YoY Change	-95.68%	-42.52%	12.12%
Net Earnings / Revenue	-14.72%	-193.24%	-1122.67%
Basic Earnings Per Share		-$0.60	-$6.14
Diluted Earnings Per Share	-$0.10	-$0.60	-$245.6K
COMMON SHARES
Basic Shares Outstanding	3.328M shares	3.328M shares	566.1K shares
Diluted Shares Outstanding		3.328M shares	566.1K shares

Balance Sheet

Concept	2023 Q2	2023 Q1	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$8.960M	$9.647M	$5.944M
YoY Change	44.01%	62.29%	-37.43%
Cash & Equivalents	$8.913M	$9.604M	$5.898M
Short-Term Investments	$40.00K	$43.06K	$46.10K
Other Short-Term Assets	$500.0K	$695.2K	$1.312M
YoY Change	-37.28%	-46.99%	-1.39%
Inventory	$1.616M	$1.330M	$1.420M
Prepaid Expenses
Receivables	$260.4K	$170.3K	$70.55K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$11.33M	$11.84M	$8.747M
YoY Change	18.07%	35.39%	-19.75%
LONG-TERM ASSETS
Property, Plant & Equipment	$723.4K	$753.2K	$1.003M
YoY Change	-20.0%	-24.89%	186.53%
Goodwill
YoY Change
Intangibles	$1.946M	$1.987M
YoY Change	-7.71%
Long-Term Investments
YoY Change
Other Assets	$104.9K	$147.5K	$108.6K
YoY Change	-40.61%	35.77%	986.3%
Total Long-Term Assets	$2.775M	$2.888M	$6.739M
YoY Change	-13.02%	-57.15%	364.75%
TOTAL ASSETS
Total Short-Term Assets	$11.33M	$11.84M	$8.747M
Total Long-Term Assets	$2.775M	$2.888M	$6.739M
Total Assets	$14.11M	$14.73M	$15.49M
YoY Change	10.31%	-4.88%	25.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$540.0K	$737.5K	$1.676M
YoY Change	-53.69%	-56.0%	2.21%
Accrued Expenses	$1.440M	$1.516M	$1.591M
YoY Change	-12.91%	-4.69%	1888.31%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$29.31K
YoY Change		-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$2.001M	$2.270M	$4.106M
YoY Change	-39.73%	-44.72%	140.09%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change			-100.0%
Other Long-Term Liabilities	$20.00K	$72.79K	$493.6K
YoY Change	-94.87%	-85.25%	124.35%
Total Long-Term Liabilities	$20.00K	$72.79K	$493.6K
YoY Change	-94.87%	-85.25%	124.35%
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.001M	$2.270M	$4.106M
Total Long-Term Liabilities	$20.00K	$72.79K	$493.6K
Total Liabilities	$2.017M	$2.342M	$4.599M
YoY Change	-45.63%	-49.07%	138.29%
SHAREHOLDERS EQUITY
Retained Earnings	-$101.4M	-$101.1M
YoY Change	8.5%
Common Stock	$77.62M	$77.62M
YoY Change	9.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$12.09M	$12.39M	$10.89M
YoY Change
Total Liabilities & Shareholders Equity	$14.11M	$14.73M	$15.49M
YoY Change	10.31%	-4.88%	25.39%

Cashflow Statement

Concept	2023 Q2	2023 Q1	2022 Q1
OPERATING ACTIVITIES
Net Income	-$340.0K	-$1.998M	-$3.476M
YoY Change	-95.68%	-42.52%	12.12%
Depreciation, Depletion And Amortization	$50.00K	$50.69K	$53.34K
YoY Change	-7.39%	-4.97%	77.8%
Cash From Operating Activities	-$650.0K	-$1.657M	-$5.349M
YoY Change	-83.94%	-69.03%	16.03%
INVESTING ACTIVITIES
Capital Expenditures	$160.0K	$0.00	-$3.550K
YoY Change		-100.0%
Acquisitions
YoY Change
Other Investing Activities	$130.0K	-$128.2K	$0.00
YoY Change	-117.92%
Cash From Investing Activities	-$30.00K	-$128.2K	-$3.550K
YoY Change	-95.86%	3511.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000	-63.70K	-29.31K
YoY Change	-100.0%	117.33%	-100.72%
NET CHANGE
Cash From Operating Activities	-650.0K	-1.657M	-5.349M
Cash From Investing Activities	-30.00K	-128.2K	-3.550K
Cash From Financing Activities	0.000	-63.70K	-29.31K
Net Change In Cash	-680.0K	-1.849M	-5.382M
YoY Change	-344.12%	-65.65%	861.01%
FREE CASH FLOW
Cash From Operating Activities	-$650.0K	-$1.657M	-$5.349M
Capital Expenditures	$160.0K	$0.00	-$3.550K
Free Cash Flow	-$810.0K	-$1.657M	-$5.345M
YoY Change	-79.99%	-69.01%	15.95%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	inm	Acquisition Consideration Payable AcquisitionConsiderationPayable		usd
CY2022Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-39685
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	A1
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	98-1428279
	dei	Entity Address Address Line1 EntityAddressAddressLine1	Suite 310 - 815 W. Hastings Street
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Vancouver
	dei	Entity Address City Or Town EntityAddressCityOrTown	B.C
	dei	Entity Address Country EntityAddressCountry	CA
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	V6C 1B4
	dei	City Area Code CityAreaCode	(604)
	dei	Local Phone Number LocalPhoneNumber	669-7207
	dei	Security12b Title Security12bTitle	Common Shares, no par value
	dei	Trading Symbol TradingSymbol	INM
	dei	Security Exchange Name SecurityExchangeName	NASDAQ
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	3328191	shares
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	9604057	usd
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	6176866	usd
CY2023Q1	us-gaap	Short Term Investments ShortTermInvestments	43055	usd
CY2022Q2	us-gaap	Short Term Investments ShortTermInvestments	44804	usd
CY2023Q1	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	170299	usd
CY2022Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	88027	usd
CY2023Q1	us-gaap	Inventory Net InventoryNet	1329931	usd
CY2022Q2	us-gaap	Inventory Net InventoryNet	2490854	usd
CY2023Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	695203	usd
CY2022Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	797225	usd
CY2023Q1	us-gaap	Assets Current AssetsCurrent	11842545	usd
CY2022Q2	us-gaap	Assets Current AssetsCurrent	9597776	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	753241	usd
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	904252	usd
CY2023Q1	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	1986826	usd
CY2022Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	2108915	usd
CY2023Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	147489	usd
CY2022Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	176637	usd
CY2023Q1	us-gaap	Assets Assets	14730101	usd
CY2022Q2	us-gaap	Assets Assets	12787580	usd
CY2023Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	1829924	usd
CY2022Q2	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	2415265	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	423574	usd
CY2022Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	404276	usd
CY2023Q1	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	16171	usd
CY2022Q2	inm	Acquisition Consideration Payable AcquisitionConsiderationPayable	500000	usd
CY2023Q1	us-gaap	Liabilities Current LiabilitiesCurrent	2269669	usd
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	3319541	usd
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	72794	usd
CY2022Q2	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	389498	usd
CY2023Q1	us-gaap	Liabilities Liabilities	2342463	usd
CY2022Q2	us-gaap	Liabilities Liabilities	3709039	usd
CY2023Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	3328191	shares
CY2023Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	3328191	shares
CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	650667	shares
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	650667	shares
CY2023Q1	us-gaap	Common Stock Value CommonStockValue	77620252	usd
CY2022Q2	us-gaap	Common Stock Value CommonStockValue	70718461	usd
CY2023Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	35700635	usd
CY2022Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	31684098	usd
CY2023Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-101061818	usd
CY2022Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-93452587	usd
CY2023Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	128569	usd
CY2022Q2	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	128569	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	12387638	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	9078541	usd
CY2023Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	14730101	usd
CY2022Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	12787580	usd
CY2023Q1	us-gaap	Revenues Revenues	1033925	usd
CY2022Q1	us-gaap	Revenues Revenues	309585	usd
	us-gaap	Revenues Revenues	1824496	usd
	us-gaap	Revenues Revenues	574677	usd
CY2023Q1	us-gaap	Cost Of Revenue CostOfRevenue	841414	usd
CY2022Q1	us-gaap	Cost Of Revenue CostOfRevenue	127308	usd
	us-gaap	Cost Of Revenue CostOfRevenue	1415068	usd
	us-gaap	Cost Of Revenue CostOfRevenue	280845	usd
	inm	Inventory Writedownin Dollars Per Share InventoryWritedowninDollarsPerShare	576772	usd
CY2023Q1	us-gaap	Gross Profit GrossProfit	192511	usd
CY2022Q1	us-gaap	Gross Profit GrossProfit	182277	usd
	us-gaap	Gross Profit GrossProfit	-167344	usd
	us-gaap	Gross Profit GrossProfit	293832	usd
CY2023Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	878303	usd
CY2022Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	1753545	usd
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3108312	usd
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	5781867	usd
CY2023Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1412727	usd
CY2022Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1915017	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	4438083	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5124670	usd
CY2023Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	50689	usd
CY2022Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	53340	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	148786	usd
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	131669	usd
CY2023Q1	us-gaap	Operating Expenses OperatingExpenses	2341719	usd
CY2022Q1	us-gaap	Operating Expenses OperatingExpenses	3721902	usd
	us-gaap	Operating Expenses OperatingExpenses	7695181	usd
	us-gaap	Operating Expenses OperatingExpenses	11038206	usd
CY2023Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	155497	usd
CY2022Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	30964	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	343881	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	62389	usd
CY2023Q1	us-gaap	Foreign Currency Transaction Gain Loss Unrealized ForeignCurrencyTransactionGainLossUnrealized	-2733	usd
CY2022Q1	us-gaap	Foreign Currency Transaction Gain Loss Unrealized ForeignCurrencyTransactionGainLossUnrealized	32996	usd
	us-gaap	Foreign Currency Transaction Gain Loss Unrealized ForeignCurrencyTransactionGainLossUnrealized	-79287	usd
	us-gaap	Foreign Currency Transaction Gain Loss Unrealized ForeignCurrencyTransactionGainLossUnrealized	-48109	usd
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-1996444	usd
CY2022Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-3475665	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-7597931	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-10730094	usd
CY2023Q1	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-1500	usd
	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-11300	usd
CY2023Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-1997944	usd
CY2022Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-3475665	usd
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-7609231	usd
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-10730094	usd
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.6
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-6.14
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-3.53
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-20.13
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3328191	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	566062	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	2156283	shares
	inm	Share Issuance Costs ShareIssuanceCosts	-2011266	usd
	inm	Agents Investment Options AgentsInvestmentOptions	691483	usd
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	533070	shares
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	9078541	usd
	inm	Stock Issued During Period Value Issued For Private Placement StockIssuedDuringPeriodValueIssuedForPrivatePlacement	11999790	usd
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.0374	pure
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--06-30
	inm	Exercise Of Prefunded Warrants ExerciseOfPrefundedWarrants	472	usd
	us-gaap	Net Income Loss NetIncomeLoss	-5611287	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	187318	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	14335051	usd
CY2023Q1	inm	Exercise Of Prefunded Warrants ExerciseOfPrefundedWarrants	174	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-1997944	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	50357	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	12387638	usd
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	7376567	usd
	inm	Stock Issued During Period Value Issued For Private Placement StockIssuedDuringPeriodValueIssuedForPrivatePlacement	11999686	usd
	inm	Share Issuance Costs ShareIssuanceCosts	-2034167	usd
	inm	Agents Warrants AgentsWarrants	739920	usd
	inm	Exercise Of Prefunded Warrants ExerciseOfPrefundedWarrants	315	usd
	inm	Acquisition Of Bay Medica AcquisitionOfBayMedica	3013500	usd
	us-gaap	Net Income Loss NetIncomeLoss	-7254429	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	325921	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	14167313	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-3475665	usd
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	195085	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	10886733	usd
	us-gaap	Net Income Loss NetIncomeLoss	-7609231	usd
	us-gaap	Net Income Loss NetIncomeLoss	-10730094	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	148786	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	131669	usd
	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	237675	usd
	us-gaap	Employee Benefits And Share Based Compensation EmployeeBenefitsAndShareBasedCompensation	521006	usd
	us-gaap	Operating Lease Expense OperatingLeaseExpense	296239	usd
	us-gaap	Operating Lease Expense OperatingLeaseExpense	226061	usd
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	-11355	usd
	inm	Interest Incomeaccrued Received On Shortterm Investments InterestIncomeaccruedReceivedOnShorttermInvestments	-392	usd
	inm	Interest Incomeaccrued Received On Shortterm Investments InterestIncomeaccruedReceivedOnShorttermInvestments	46	usd
	inm	Unrealized Gain On Foreign Exchange UnrealizedGainOnForeignExchange	-2138	usd
	inm	Unrealized Gain On Foreign Exchange UnrealizedGainOnForeignExchange	-312	usd
	us-gaap	Inventory Write Down InventoryWriteDown	576772	usd
	inm	Bad Debts BadDebts	25085	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-584151	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	933260	usd
	us-gaap	Increase Decrease In Prepaid Expenses Other IncreaseDecreaseInPrepaidExpensesOther	-102022	usd
	us-gaap	Increase Decrease In Prepaid Expenses Other IncreaseDecreaseInPrepaidExpensesOther	323653	usd
	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	-5507	usd
	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	-6580	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	107357	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	22535	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-585341	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-195125	usd
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	16171	usd
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	3760	usd
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	317490	usd
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	232633	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-6625265	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-11536511	usd
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	us-gaap	Payment For Contingent Consideration Liability Investing Activities PaymentForContingentConsiderationLiabilityInvestingActivities	500000	usd
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	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	52458	usd
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	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	12000001	usd
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CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	5898313	usd
	us-gaap	Nature Of Operations NatureOfOperations	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.5in; text-align: left"><b>1.</b></td><td style="text-align: justify"><b>CORPORATE INFORMATION AND CONTINUING OPERATIONS</b></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0pt"><b><i>Business</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">InMed Pharmaceuticals Inc. (“InMed” or the “Company”) was incorporated in the Province of British Columbia on May 19, 1981 under the <i>Business Corporations Act</i> of British Columbia. InMed is a clinical stage pharmaceutical company developing a pipeline of prescription-based products, including rare cannabinoids and novel cannabinoid analogs, targeting the treatment of diseases with high unmet medical needs as well as developing proprietary manufacturing technologies to produce rare cannabinoids for sale in the health and wellness industry.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company’s shares are listed on the Nasdaq Capital Market (“Nasdaq”) under the trading symbol “INM”. InMed’s office and principal place of business is located at #310 – 815 West Hastings Street, Vancouver, B.C., Canada, V6C 1B4.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.85pt; text-align: justify; text-indent: -17.85pt"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"/><td><b><i>Liquidity</i></b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Through March 31, 2023, the Company has funded its operations primarily with proceeds from the sale of common stock. The Company has incurred recurring losses and negative cash flows from operations since its inception, including net losses of approximately $7.6 million and $10.7 million for the nine months ended March 31, 2023 and 2022, respectively. In addition, the Company had an accumulated deficit of approximately $101.1 million at March 31, 2023. The Company expects to continue to generate operating losses for the foreseeable future.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As of the issuance date of these condensed consolidated interim financial statements, the Company expects its cash and cash equivalents of $9.6 million as of March 31, 2023 will be sufficient to fund its operating expenses and capital expenditure requirements into the <span>first quarter of calendar 2024, and possibly into the second quarter of calendar 2024</span> , depending on the level and timing of realizing BayMedica revenues from the sale of bulk rare cannabinoids in the health & wellness sector as well as the level and timing of the Company operating expenses. The future viability of the Company is dependent on its ability to raise additional capital to finance its operations. As a result of the recurring losses and requirement for cash in the first quarter of calendar 2024 or the second quarter of calendar 2024, the Company has concluded that there is substantial doubt about its ability to continue as a going concern within one year after the date that the consolidated financial statements are issued.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company expects to continue to seek additional funding through equity financings, debt financings or other capital sources, including collaborations with other companies, government contracts or other strategic transactions. The Company may not be able to obtain financing on acceptable terms, or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s existing shareholders.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These condensed consolidated interim financial statements have been prepared on a going concern basis, which assumes that the Company will be able to meet its commitments, realize its assets and discharge its liabilities in the normal course. These condensed consolidated interim financial statements do not reflect adjustments to the carrying values of assets and liabilities that would be necessary if the Company was unable to continue as a going concern and such adjustments could be material.</p>
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	us-gaap	Profit Loss ProfitLoss	10700000	usd
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	us-gaap	Use Of Estimates UseOfEstimates	<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0pt"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify"><b><i> </i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0pt">The preparation of financial statements in compliance with US GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities as of the balance sheet date, and the corresponding revenues and expenses for the periods reported. It also requires management to exercise judgment in applying the Company’s accounting policies. In the future, actual experience may differ from these estimates and assumptions. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to these consolidated financial statements are the estimate of useful life of intangible assets, the application of the going concern assumption, and determining the fair value of share-based payments and warrants.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-align: justify; text-indent: -21.3pt"><b><i> </i></b></p>
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	us-gaap	Depreciation Expense On Reclassified Assets DepreciationExpenseOnReclassifiedAssets	272568	usd
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	us-gaap	Depreciation Expense On Reclassified Assets DepreciationExpenseOnReclassifiedAssets	199058	usd
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	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	122089	usd
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	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	113296	usd
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CY2022Q4	inm	Estimated Fair Value Common Shares EstimatedFairValueCommonShares	239587	usd
CY2021Q3	inm	Estimated Fair Value Common Shares EstimatedFairValueCommonShares	739920	usd
CY2021Q4	us-gaap	Common Unit Issued CommonUnitIssued	2050000	shares
CY2021Q4	inm	Estimated Fair Value Common Shares EstimatedFairValueCommonShares	3013500	usd
CY2022Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	14760	shares
CY2022Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	14760	shares
CY2023Q1	inm	Cost Of Services Directs Materials CostOfServicesDirectsMaterials	2169023	usd
	us-gaap	Production Costs ProductionCosts	445259	usd
CY2023Q1	inm	Guaranteed Investment GuaranteedInvestment	43055	usd
CY2022Q2	inm	Guaranteed Investment GuaranteedInvestment	44676	usd
	inm	Warrants To Purchase WarrantsToPurchase	700	shares
CY2023Q1	us-gaap	Shares Issued SharesIssued	700	shares
CY2023Q1	us-gaap	Accrued Royalties Current And Noncurrent AccruedRoyaltiesCurrentAndNoncurrent	300000	usd
CY2023Q2	inm	Other Post Retirement Benefits Payments OtherPostRetirementBenefitsPayments	950209	usd
CY2023Q1	us-gaap	Accounts Payable And Other Accrued Liabilities AccountsPayableAndOtherAccruedLiabilities	1969113	cad
CY2023Q1	us-gaap	Accounts Payable And Other Accrued Liabilities AccountsPayableAndOtherAccruedLiabilities	1454977	usd
CY2023Q1	us-gaap	Cash Cash	8795454	usd
CY2022Q2	us-gaap	Cash Cash	5087615	usd
CY2023Q1	us-gaap	Other Minority Interests OtherMinorityInterests	808603	usd
CY2022Q2	us-gaap	Other Minority Interests OtherMinorityInterests	1089251	usd
CY2023Q1	us-gaap	Other Short Term Investments OtherShortTermInvestments	43055	usd
CY2022Q2	us-gaap	Other Short Term Investments OtherShortTermInvestments	44676	usd
CY2023Q1	inm	Short Term Investment ShortTermInvestment	9647112	usd
CY2022Q2	inm	Short Term Investment ShortTermInvestment	6221670	usd
CY2023Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	2269669	usd
CY2022Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	3181316	usd
CY2023Q1	inm	Working Capital Surplus workingCapitalSurplus	9572876	usd
CY2022Q2	inm	Working Capital Surplus workingCapitalSurplus	6416460	usd
	us-gaap	Legal Fees LegalFees	580761	usd
	dei	Entity Registrant Name EntityRegistrantName	InMed Pharmaceuticals Inc.
CY2022Q2	us-gaap	Deferred Revenue Current DeferredRevenueCurrent		usd
CY2022Q2	us-gaap	Common Stock No Par Value CommonStockNoParValue
CY2022	us-gaap	Common Stock Shares Authorized Unlimited CommonStockSharesAuthorizedUnlimited	Unlimited
CY2022Q1	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises		usd
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets		usd
	inm	Bad Debts BadDebts		usd
	inm	Cash Acquired From Acquisition Of Bay Medica CashAcquiredFromAcquisitionOfBayMedica		usd
	us-gaap	Payment For Contingent Consideration Liability Investing Activities PaymentForContingentConsiderationLiabilityInvestingActivities		usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment		usd
	inm	Settlement Of Debt Upon Acquisition Of Subsidiary SettlementOfDebtUponAcquisitionOfSubsidiary		usd
CY2023Q1	inm	Share Based Payment Aggregate Intrinsic Value At Beginning ShareBasedPaymentAggregateIntrinsicValueAtBeginning		usd
CY2023Q1	inm	Share Based Payment Aggregate Intrinsic Value Balance At Ending ShareBasedPaymentAggregateIntrinsicValueBalanceAtEnding		usd
CY2023Q1	us-gaap	Lessee Operating Lease Liability Payments Due After Rolling Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive		usd
CY2022Q1	us-gaap	Inventory Adjustments InventoryAdjustments		usd
	dei	Amendment Flag AmendmentFlag	false
	dei	Entity Central Index Key EntityCentralIndexKey	0001728328

Files In Submission

Name	View Source	Status
FilingSummary.xml	Edgar Link	unprocessable
0001213900-23-039477-index-headers.html	Edgar Link	pending
0001213900-23-039477-index.html	Edgar Link	pending
0001213900-23-039477.txt	Edgar Link	pending
0001213900-23-039477-xbrl.zip	Edgar Link	pending
f10q0323ex31-1_inmedpharma.htm	Edgar Link	pending
f10q0323ex31-2_inmedpharma.htm	Edgar Link	pending
f10q0323ex32-1_inmedpharma.htm	Edgar Link	pending
f10q0323ex32-2_inmedpharma.htm	Edgar Link	pending
f10q0323_inmedpharma.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
image_001.jpg	Edgar Link	pending
inm-20230331.xsd	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
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R27.htm	Edgar Link	pending
inm-20230331_cal.xml	Edgar Link	unprocessable
inm-20230331_def.xml	Edgar Link	unprocessable
inm-20230331_lab.xml	Edgar Link	unprocessable
inm-20230331_pre.xml	Edgar Link	unprocessable
f10q0323_inmedpharma_htm.xml	Edgar Link	completed
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
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R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$INM
InMed Pharmaceuticals Inc. Stock $inm

2023 Q2 Form 10-Q Financial Statement

#000121390023039477 Filed on May 15, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$INM InMed Pharmaceuticals Inc. Stock $inm

2023 Q2 Form 10-Q Financial Statement

#000121390023039477 Filed on May 15, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$INM
InMed Pharmaceuticals Inc. Stock $inm