New Trade Alert: InMed Pharmaceuticals Inc. (OTCMKTS: IMLFF)
As you know, one theme we see as extremely powerful right now is the Canadian cannabis space. In the aftermath of the US elections (when 8 out of 9 states with ballot propositions on marijuana passed their measures to push pot into more legal ground), the next anticipatory run for pot stocks will be Canada.
Why?
Because Justin Trudeau, the Prime Minister of Canada, got into office on a ticket that included a stated, explicit promise to make marijuana legal, on a full recreational basis, for all of Canada during 2017. That means, the big catalyst for Canadian pot stocks is still just ahead.
New research is also out showing that a massive jump in demand for medical cannabis in Canada is just around the corner that could bring thousands of pounds of demand onto the legal market over the near term.
We believe this will light a fire under the whole space.
Symbol: IMLFF
Company: InMed Pharmaceuticals Inc.
Quote: http://finance.yahoo.com/q?s=IMLFF
Latest News: http://finance.yahoo.com/q/h?s=IMLFF+Headlines
Company Website: http://www.inmedpharma.com
InMed Pharmaceuticals Inc. (OTCMKTS: IMLFF) is a pre-clinical stage biopharmaceutical company that engages in the research and development of novel and cannabinoid-based therapies in Canada.
The company’s products under pre-clinical development stage include INM-750 for the treatment of epidermolysis bullosa; and INM-085 for the treatment of glaucoma. It is also developing various drugs for diseases, such as ocular, pain and inflammation, dermatology, central nervous system, metabolic, and respiratory.
IMLFF also just announced progress on its R&D program in the use of cannabinoids for the treatment of chronic obstructive pulmonary disease (COPD).
Note, the global COPD market is estimated to currently be worth $11.3 billion, and is forecast to reach a value of $15.6 billion by 2019 according to GBI Research.
In June, 2015, IMLFF initiated its COPD program using its bioinformatics analysis tool to identify the targets and potential active compounds that can be useful for the treatment of COPD.
“Subsequently, with in vitro assays using human lung fibroblasts (HFL-1 cell line), InMed has demonstrated that certain cannabinoid compounds are capable of affecting a specific protein in the biochemical pathway relevant to healing and fibrosis in the lung.” (See Full Press Release Here).
According to a recent Bloomberg article, Canada’s push to legalize marijuana could be a “game changer” for the recreational pot industry with the potential to reach C$6 billion ($4.5 billion) in sales by 2021.
A massive black market for marijuana exists in Canada that Canaccord Genuity analysts believe, if brought into legal channels, might bring about sales of 400K kg, or nearly 900K lbs, of cannabis in year one.
If legalization occurs along expected timelines there will be about 3.8 million legal recreational users of marijuana across Canada by 2021, according to the note.
Demand for medical cannabis is growing at a significant pace and by 2021, combined annual demand for medical and recreational cannabis will be about 575,000 kilograms, the Canaccord report said.
The chart for IMLFF is a thing of beauty at the moment as well. This is a near-perfect Bull Flag pattern with huge upside potential on its next breakout.
About IMLFF
IMLFF (InMed Pharmaceuticals Inc. ) a company that InMed Pharmaceuticals, a pre-clinical stage biopharmaceutical company, engages in the research and development of novel and cannabinoid-based therapies in Canada.
IMLFFs products under pre-clinical development stage include INM-750 for the treatment of epidermolysis bullosa; and INM-085 for the treatment of glaucoma.
IMLFF is also developing various drugs for diseases, such as ocular, pain and inflammation, dermatology, central nervous system, metabolic, and respiratory.
IMLFF was formerly known as Cannabis Technologies and changed its name to InMed Pharmaceuticals in October 2014. InMed Pharmaceuticals was incorporated in 1981 and is based in Vancouver, Canada.
What You Need To Know:
- IMLFF is positioned to benefit from a massive surge in medical cannabis in Canada over the coming year, according to several research reports.
- IMLFF is moving into the $15B COPD space according to very recent press.
- IMLFF is coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way.
- IMLFF just recorded a MACD Bullish reversal, suggesting a technical change in trend.
- IMLFF is in a near-perfect Bull Flag pattern after breaking higher this Fall.
Conclusion
IMLFF may be poised for something special. The big picture looks like this: A new trend up got started in the Fall, and the initial explosive move in that trend has been consolidating like a coiling spring. Now it may be time for the spring to ‘pop’ and the move higher to resume.
If things play out here in terms of the research and forward calendar of catalysts, this could unleash a massive move higher from present levels in IMLFF.
Don’t miss the boat!
Regards,
Trade Green !
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