Reportedly, The Home Depot, Inc. (HD) quarterly earnings beat estimates as price increases helped the company post an 8.8% jump in average ticket, or the average amount of sales per customer assisting offset a 4.3% fall in customer transactions in the quarter. Comparable sales at the home improvement chain increased by 4.3% in three months, beating estimates of a 3.1% increase. Net earnings jumped to $4.34 billion, or $4.24 per share, while analysts estimated a profit of $4.12 per share.
Although demand from contractors, builders, and other professional customers remained strong, DIY customers splurged on paint, tools, and gardening equipment last year stayed conservative on spending in the third quarter of this year. The company reiterated its this fiscal comparable sales growth forecast of about 3%.
The Home Depot, Inc. (HD) is the world’s largest home improvement retailer with retail stores all across North America. The Home Depot sells building materials and home improvement products, as well as lawn and garden supplies, and provides installation, home maintenance, and professional service programs. To learn more about The Home Depot, Inc. (HD), and to continue to track its progress please visit vista Partners’ The Home Depot, Inc. Coverage Page.
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Shares of InMed Pharmaceuticals Inc. (INM), a leader in the research, development and manufacturing of rare cannabinoids, closed at $3.79 up 38.33% after trading as high as $4.75 today and trading 28,390,830 shares.
On Nov. 16, InMed announced the launch of its neurodegenerative disease program (INM-900 series), which will be investigating the effects of cannabinoid analogs in diseases such as Alzheimer’s, Huntington’s and Parkinson’s. In research conducted to date, InMed has identified two cannabinoid analogs demonstrating promising effects related to the treatment of neurodegenerative diseases, warranting further investigation in in vivo studies. InMed will be conducting studies using in vivo models in neurodegenerative disease to select the most appropriate candidate for clinical studies. Early preclinical efficacy readout is expected in 2Q 2023. In addition, Dr. Ujendra Kumar of the faculty of Pharmaceuticals Sciences at UBC has been awarded an Alliance grant from NSERC, with InMed as the named industry partner. The funding will support the research and development studies of InMed’s cannabinoid pharmaceutical candidates, investigating their potential therapeutic effects in neurodegenerative diseases. The collaboration project is entitled “Pharmacological characterization of phytocannabinoids and the endocannabinoid system.”
InMed’s Senior Vice President of Preclinical Research & Development, Eric Hsu, Ph.D., commented, “We are pleased that our efforts have led to the identification of two cannabinoid analog candidates to advance to in vivo studies. Our team will continue this important research in neurodegenerative diseases under the NSERC Alliance grant. Our early studies are showing promising neuroprotective effects as well as neurite outgrowth, signifying the potential to enhance neuronal function that may be important in the treatment of neurodegenerative diseases. This program, in conjunction with the work we are doing within glaucoma, increases our focus on, and expands our pipeline within, the neuroprotection space.”
InMed’s CEO Eric A. Adams and Eric Hsu, SVP of Preclinical Research and Development will present at Tribe Public’s Webinar Presentation and Q&A Event titled “Exploring the Neuroprotective Qualities of Rare Cannabinoids.” The Event is scheduled to begin at 8.30am Pacific/11.30am Eastern on November 17, 2022.
To register to join the complimentary, ZOOM webinar-based event, please visit Tribe Public LLC at INMNOV17.TribePublic.com.
Once registered, participants may begin forwarding their questions for InMed’s management to Tribe Public at email@example.com or share their questions via the ZOOM chat feature during the event. Tribe Public’s Managing Member, John F. Heerdink, Jr., will host the event and relay all questions to management.