v3.26.1
Segment Information
 12 Months Ended
Jun. 30, 2026
Segment Information [Abstract]  
SEGMENT INFORMATION
10.
SEGMENT INFORMATION
The Company reports segment information based on the management approach in accordance with ASC 280, Segment Reporting. The Company has identified its Chief Executive Officer and senior management team as its chief operating decision maker (the “CODM”). The CODM is responsible for assessing the Company’s operating performance and making decisions about the allocation of resources.
 
Following the Company’s decision to wind down and exit the BayMedica commercial operations segment (“Commercial Operations”), Commercial Operations has been classified within discontinued operations in the Consolidated Financial Statements. As a result, the Company has one remaining reportable segment InMed Pharmaceuticals (‘InMed Pharma’). The InMed Pharma reportable segment reflects the manner in which the CODM reviews financial information to evaluate performance and allocate resources. The CODM uses Total Operating Expenses and Net loss from continuing operations presented in the Statements of Operations as the measure of segment profit or loss to assess segment performance and allocate resources. The CODM uses this measure to evaluate the financial results of the Company’s continuing operations, monitor operating trends, and determine the allocation of resources, including personnel, operating expenditures, and capital resources.
The accounting policies of the Company’s reportable segment are the same as those described in Note 2 — Significant Accounting Policies. The Company evaluates segment performance based on the information provided to and reviewed by the CODM. The CODM does not review segment assets for purposes of assessing performance or allocating resources.
The following table presents information about the Company’s reportable segment for the year ended June 30, 2026 and 2025:
 
     Year ended  
     June 30,
2026		      June 30,
2025		  
     $      $  
Operating Expenses
      
General and administrative
      6,661,372        5,414,525  
Research and development
      3,028,473        2,821,202  
Amortization and depreciation
      205,271        210,443  
Loss on disposal of fixed assets
      7,136         —  
Impairment of fixed assets
      189,225         —  
Impairment of intangible assets
      1,457,926         —  
Foreign exchange loss (gain)
      58,009        28,471  
  
 
 
     
 
 
  
Total Operating Expenses
      11,607,412        8,474,641  
Other Income (Expense)
      
Interest and other income
      244,971        155,882  
Finance expense
      (10,700 )       (371,549 ) 
  
 
 
     
 
 
  
Net loss from continuing operations before taxes
      (11,373,141 )       (8,690,308 ) 
Provision for Income Taxes
       —         —  
  
 
 
     
 
 
  
Net loss from continuing operations
      (11,373,141 )       (8,690,308 )