InMed (INM), renamed Mentari Therapeutics Inc. following its merger with Mentari, reported an unaudited pro forma combined net loss from continuing operations of $37.3 million for the six months ended June 30, 2026. Pro forma net loss per common share was $0.64, basic and diluted.
The merger closed on November 6, 2026, following a pre-closing financing that generated aggregate gross proceeds of $490.0 million. The combined company said it remains focused on developing therapies for migraine prevention.
- Pro forma operating expenses totaled $38.1 million for the first six months of 2026.
- Research and development expense was $31.1 million, while general and administrative expense was $5.3 million.
- Pro forma cash and cash equivalents were $478.1 million as of June 30, 2026.
- Former Mentari stockholders and financing investors were expected to own about 99.0% of the combined company’s common stock.
- The exchange ratio was 0.20065 shares of InMed common stock for each Mentari common share.
$INM Insider Trading Activity
$INM insiders have traded $INM stock on the open market 49 times in the past 6 months. Of those trades, 49 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $INM stock by insiders over the last 6 months:
- CAPITAL MANAGEMENT, LLC ADAR1 has made 19 purchases buying 625,135 shares for an estimated $926,902 and 0 sales.
- OPPORTUNITY, LLC VIVO has made 30 purchases buying 276,324 shares for an estimated $433,548 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$INM Hedge Fund Activity
We have seen 12 institutional investors add shares of $INM stock to their portfolio, and 3 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ADAR1 CAPITAL MANAGEMENT, LLC added 800,000 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,240,000
- VIVO CAPITAL, LLC added 798,377 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,237,484
- SQUADRON CAPITAL MANAGEMENT LLC added 325,000 shares (+inf%) to their portfolio in Q2 2026, for an estimated $503,750
- IKARIAN CAPITAL, LLC added 245,025 shares (+inf%) to their portfolio in Q2 2026, for an estimated $379,788
- SABBY MANAGEMENT, LLC removed 175,290 shares (-79.6%) from their portfolio in Q2 2026, for an estimated $271,699
- URSA FUND MANAGEMENT, LLC added 125,800 shares (+inf%) to their portfolio in Q2 2026, for an estimated $194,990
- BOOTHBAY FUND MANAGEMENT, LLC added 74,244 shares (+inf%) to their portfolio in Q2 2026, for an estimated $115,078
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
