By Owen Tucker-Smith

InMed shares rose after the pharmaceutical company reported positive results from a long-term study of its Alzheimer's drug.

Shares of the Vancouver, Canada, company were up 4.9% on Tuesday to $5.19. The stock is down more than 11% over the past three months but up almost 9% this year.

The company said groups treated with its INM-901 drug in a long-term study had experienced a reduction in neuroinflammation markers. This reduction was statistically significant, it said.

Eric Hsu, the company's senior vice president of preclinical research and development, said neuroinflammation is a promising target for researchers studying Alzheimer's, and that the results from the study indicate that INM-901 may lower neuroinflammation.

The company added it will continue to study the drug's potential role in Alzheimer's treatment, and it expects to complete another round of analyses in the coming weeks. InMed noted that preclinical behavioral studies of INM-901 have associated the drug with improvement in cognitive function, memory, locomotor activity, anxiety-based behavior and sound awareness.

Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com

(END) Dow Jones Newswires

January 21, 2025 13:01 ET (18:01 GMT)

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