InMed Pharmaceuticals Inc (NASDAQ:INM) shares are trading lower after the company released safety and efficacy results from its Phase 2 clinical trial (755-201-EB) for symptoms related to Epidermolysis Bullosa (EB).

The Phase 2 Trial enrolled 19 patients, with data from one patient excluded from efficacy analysis due to protocol deviation.

Chronic itch improved in 12 patients (66.7%), with some patients showing the same level of improvement with INM-755cannabinol (CBN) cream as with the control cream, while others showed additional anti-itch activity with INM-755.

Statistical analyses for non-wound itch were not statistically significant in favor of INM-755, partly due to the anti-itch effect of the control cream.

Systemic exposure of CBN was measured at very low concentrations, with no serious drug-related adverse events or withdrawals from treatment.

Local adverse events in the treatment areas were reported but were transient and resolved without cessation of treatment.

INM-755 CBN cream was well tolerated on sensitive EB skin.

Based on the safety and efficacy data, InMed plans to seek R&D and commercial partnership opportunities for further development of INM-755 CBN cream.

Price Action: INM shares are down 14.40% at $1.01 on the last check Thursday.