MTRI · InMed Pharmaceuticals Inc. · Documents
Substantial doubt about the company's ability to continue as a going concern.
“We have concluded that there is substantial doubt about our ability to continue as a going concern within one year after the date that the condensed consolidated financial statements are issued.”View the 10-Q filed Nov 3, 2026
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Mentari Therapeutics completed its merger with InMed Pharmaceuticals Inc. after raising approximately $490 million in gross proceeds; shares began trading on Nasdaq under MTRI on November 9, 2026.
InMed Pharmaceuticals Inc., now Mentari Therapeutics, Inc., reported that shareholders approved all proposals on November 4, 2026, including Nevada redomestication. The company completed a one (1)-for-ten (10) share consolidation, reducing outstanding shares from 5,493,735 to approximately 549,374.
InMed Pharmaceuticals Inc. legally changed its name to Mentari Therapeutics, Inc. on November 4, 2026 and completed a one (1)-for-ten (10) common share consolidation. Shareholders approved merger-related issuance, redomestication to Nevada, and related proposals.
InMed Pharmaceuticals Inc. expects its merger with Mentari Therapeutics to close in the fourth quarter of calendar 2026, supported by approximately US$490 million in financing intended to fund operations into 2029; Nasdaq granted until March 15, 2027 to regain equity compliance.
InMed expects its Mentari merger, backed by approximately $490.0 million in pre-closing financing, to restore Nasdaq equity compliance; however, cash was $1.1 million and substantial doubt about going concern remains.
InMed Pharmaceuticals Inc. proposes to merge with Mentari Therapeutics, Inc., redomesticate from British Columbia, Canada to Nevada and rename itself Mentari Therapeutics, Inc.; Mentari holders are expected to own approximately 99.03% of the combined company on a fully-diluted basis.