InMed Pharmaceuticals Inc. 8-K

What Happened

• On March 27, 2026, InMed Pharmaceuticals, Inc. (INM) received a written notice from the Nasdaq Listing Qualifications Department that its closing bid price was below the $1.00 minimum required for continued listing under Nasdaq Listing Rule 5550(a)(2) for 30 consecutive trading days (Feb 11, 2026 to Mar 26, 2026).
• The company has a 180‑calendar‑day compliance period from receipt of the notice to regain the minimum bid price and remain listed. INM common shares will continue to trade on The Nasdaq Capital Market under the symbol "INM" while it seeks to cure the deficiency. The company issued a press release on March 27, 2026 announcing the notice.

Key Details

• Notice received: March 27, 2026. Deficiency period: Feb 11–Mar 26, 2026.
• Nasdaq rule cited: Listing Rule 5550(a)(2) — $1.00 minimum bid price requirement.
• Cure process: 180 calendar days to regain compliance; may be eligible for an additional 180‑day period if it meets market value and other initial listing standards (except the bid price) and notifies Nasdaq — a reverse stock split could be used to cure the deficiency.
• If Nasdaq issues a delisting notice, INM can appeal to a Nasdaq Hearings Panel but trading would be suspended on Nasdaq pending the appeal.

Why It Matters

• A continued failure to meet the $1.00 bid price could lead to delisting from Nasdaq, which can reduce liquidity, limit investor access, and make it harder for the company to raise capital.
• The company has defined procedural options (cure periods, possible reverse split, appeal rights), but there is no guarantee it will regain compliance or prevail on appeal. Investors should monitor the stock price, company updates, and any actions (e.g., reverse split) management may announce to address the deficiency.