J&J’s Spin-Off Kenvue Moves One Step Closer To NYSE Listing – $JNJ $DIA $KVUE $INM $ATOS

As per reports, Kenvue, Johnson & Johnson’s (JNJ) newly formed consumer health unit files on the New York Stock Exchange to be listed as an independent company, more than a year after the consumer giant announced its plan to break up into two companies. The filing, for Kenvue will be listed under the ticker symbol “KVUE”.  The consumer unit has also faced nearly 40,000 lawsuits alleging that its baby powder/ talc products contained asbestos that caused mesothelioma and ovarian cancer in women who used it for personal hygiene, however, the company has denied the claims.

Recently, Rival GlaxoSmithKline completed the spin-off of its consumer health business. J&J will continue to hold at least 80.1% of the voting power of Kenvue’s shares upon completion of the offering.

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READ THIS PROGRESS REPORT TOO…

On January 10, InMed Pharmaceuticals Inc. (Nasdaq: INM) issued a press release, which outlined their key accomplishments from 2022 and provided business update and catalysts for 2023 including the following interesting milestones for 2023:

• Complete Phase 2 clinical trial enrollment in Epidermolysis Bullosa in 1Q 2023
• Progress preclinical research in glaucoma in preparation for human trials
• Advance research using rare cannabinoids in treating neurodegenerative diseases such as Alzheimer’s, Huntington’s and Parkinson’s

“Over the course of 2022, we strengthened our position as a leader in rare cannabinoid R&D, creating a unique offering as the only company that has the breadth and depth in cannabinoid drug research, development and significant manufacturing know-how. Despite the many economic pressures affecting businesses on a global scale, including challenging capital markets, particularly in biotech, InMed was able to advance its programs and achieve a number of key milestones. As we move forward into 2023, we are very encouraged by the strength of our pharmaceutical programs, with several material milestones anticipated in the coming quarters,” stated Eric A. Adams, InMed President and CEO.

REVIEWING InMed’s 2022 ACCOMPLISHMENTS

INM-755 in Epidermolysis Bullosa

• Activated 11 clinical trial sites in seven countries for the Phase 2 study

• Expanded from adult subjects to include adolescents following independent review of early safety data

• Progressed clinical trial with enrollment and treatment of 15 patients, with the 16^th patient enrolled for treatment in early January 2023

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