Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $2.4952W HIGH $14.91
Volume
28.58 K
Value Traded
271.90 K
Short % Float
4.11%
Days to Cover
3.9
-3.63%Week
-15.56%1 Month
-10.89%3 Month
-34.65%6 Month
-99.82%5 Year
-99.82%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
33.46 M
EPS (TTM)
-1.54
P/E Ratio
-
Ent. Value
-34.34 M
Total Shares
12.54 M
Float Shares
11.09 M
Insiders
11.60%
Institutions
3.97%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
| Catalyst | Drug / Treatment | Stage | Prob. of Approval | Description | Drug Type | Therapeutic Area | Source |
|---|---|---|---|---|---|---|---|
PDUFA 2026 | Example Drug Treatment for example condition requiring FDA review | Phase 3 | Small Molecule | Oncology | - |
PoA blends historical approval base rates, trial design score and FDA review track record.
IXHL Catalyst Timeline
Dated clinical, regulatory and corporate events for Incannex Healthcare Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Incannex Healthcare Inc.
145Total events
7Upcoming
43Tier-1 (high impact)
2021 to 2027Coverage
Upcoming catalysts 2
Event history 50
▲Trial InitiationIHL-42XTrial
Official commencement of DReAMzz clinical study for IHL-42X in obstructive sleep apnea
obstructive sleep apneasource ↗
▲Oral PresentationIHL-42XPresentation
MedTech Breakthrough Award for Best New Technology Solution for Drug Development
obstructive sleep apneasource ↗
◆Reverse Stock SplitCorporate
Nasdaq grants 180-day extension to regain minimum bid price compliance; reverse stock split considered
◆First Patient DosedIHL-42XTrial
Patient dosing expected to commence in DReAMzz study
obstructive sleep apneasource ↗
▲Partnership / LicenseCorporate
Partnership with AASM Foundation to sponsor Junior Investigator Research Grant
▼Equity OfferingCorporate
Completion of financing led by healthcare-focused institutional investors
▼Reverse Stock SplitCorporate
1-for-30 reverse stock split approved by board and stockholders
◆Trial InitiationIHL-42XTrial
DReAMzz clinical trial protocol overview presented; trial in Phase 2/3
Obstructive Sleep Apneasource ↗
▲Management ChangeCorporate
Appointment of three additional members to Clinical Advisory Board for PSX-001 program
▲Trial InitiationPSX-001Trial
PSX-001 approved for Phase 2 clinical development
generalized anxiety disordersource ↗
▲Oral PresentationIHL-42XPresentation
Incannex wins Research and Development Award for IHL-42X in 2025 Clinical Trials Arena Excellence Awards
obstructive sleep apneasource ↗
▲First Patient DosedIHL-42XTrial
First patient dosed in DReAMzz Phase 2 crossover dose-optimization study
obstructive sleep apneasource ↗
▲Fast Track DesignationIHL-42XDesignation
FDA granted Fast Track designation for IHL-42X in OSA
obstructive sleep apneasource ↗
▲Topline ReadoutIHL-42XClinical Data
IHL-42X Phase 2 topline results: up to 83% reduction in AHI
obstructive sleep apneasource ↗
▲Topline ReadoutPSX-001Clinical Data
PSX-001 Phase 2 topline results: durable and clinically meaningful improvements in anxiety symptoms
generalized anxiety disordersource ↗
●Quarterly UpdateCorporate
Shareholder update highlighting clinical progress, capital discipline, and EOY 2025 strategic focus
▲Topline ReadoutPSX-001Clinical Data
Positive Phase 2 topline results for PSX-001 in GAD
Generalised Anxiety Disordersource ↗
▲Primary Endpoint MetPSX-001Clinical Data
Primary endpoint met: HAM-A reduction 12.8 vs 3.6 (p<0.0001)
Generalised Anxiety Disordersource ↗
▲Full ResultsIHL-42XClinical Data
Phase 2 topline results for IHL-42X in OSA announced
obstructive sleep apnoeasource ↗
▲Oral PresentationIHL-42XPresentation
Patient exit interview results from RePOSA Phase 2 trial presented
obstructive sleep apnoeasource ↗
◆Topline ReadoutIHL-42XClinical Data
Phase 2 topline data readout for IHL-42X expected next week
obstructive sleep apneasource ↗
▲Topline ReadoutPSX-001Clinical Data
Positive topline findings reported for PSX-001 Phase 2 trial
Generalized Anxiety Disordersource ↗
▲Topline ReadoutIHL-42XClinical Data
Phase 2 results for IHL-42X significantly exceeded expectations with statistically significant improvements across key clinical endpoints
obstructive sleep apneasource ↗
▲Topline ReadoutIHL-42XClinical Data
Positive topline results from RePOSA Phase 2 trial of IHL-42X
obstructive sleep apnoeasource ↗
◆Topline ReadoutIHL-42XClinical Data
Topline data readout from Phase 2 RePOSA trial of IHL-42X for obstructive sleep apnea
obstructive sleep apneasource ↗
◆Oral PresentationIHL-42XPresentation
Topline Phase 2 data from RePOSA study
obstructive sleep apneasource ↗
◆AdCom ScheduledIHL-42XAdvisory Committee
IHL-42X Phase 2 topline data expected July 2025
obstructive sleep apneasource ↗
◆End Of Phase 2 MeetingIHL-42XFDA Meeting
End-of-Phase 2 meeting with FDA
obstructive sleep apneasource ↗
▲Partnership / LicenseCorporate
Incannex forms 50:50 joint venture with Mind Medicine Australia to operate psychedelic-assisted therapies clinic in Melbourne
▲Enrollment CompleteIHL-42XTrial
Database lock for RePOSA Phase 2 trial of IHL-42X
obstructive sleep apnoeasource ↗
◆Topline ReadoutIHL-42XClinical Data
Phase 2 top-line results expected in coming weeks
obstructive sleep apneasource ↗
◆Quarterly UpdateCorporate
Special meeting of stockholders to vote on Series A Warrant exercise approval
◆ATM ProgramCorporate
Entry into Letter Agreements with Series A Warrant holders to potentially reduce up to 50.4% of shares underlying warrants via ATM proceeds
▲Enrollment CompleteIHL-42XTrial
Patient dosing completed in Phase 2 portion of Phase 2/3 RePOSA study
obstructive sleep apneasource ↗
▲Enrollment CompleteIHL-42XTrial
Completed Phase 2 patient enrollment in RePOSA Phase 2/3 trial
Obstructive Sleep Apneasource ↗
Past FDA Catalysts and PDUFA Decisions
How IXHL actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| - | Example Drug | Phase 3 data readout | Phase 3 |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
Pipeline Score
Pipeline Value
Valuation Signal
1
Drugs Scored
rNPV / MCap
Top Drug
Top 62%
Micro Cap(rank 408 of 657)
Percentile Rank
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IHL-42X Small moleculeNCT05857384 | Obstructive Sleep Apnea | Phase 2 | COMPLETED | 366 | Jul 31, 2024 |
Clinical Trial Results
Readouts, endpoints and source filings for every IXHL program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| Phase 2 | 2026-03-12 | Positive Phase 2 data has been reported for their drug candidatesRead More | Innovating New Pathways to Relief NASDAQ:IXHL INVESTOR PRESENTATION February 2026 2 Corporate Presentation Legal Disclaimers This presentation of Incannex Healthcare Inc . (" Incannex ") contains "forward - looking stateRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| John SmithCEO | Buy | 50,000 150,000 held | $45.50 | 01/10/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in IXHL
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| No hedge fund reported a 13F position in IXHL for Q2 2026. | ||||
IXHL Institutional Ownership Trends
IXHL Short Interest
Shares sold short, counted twice a month.
4.11%
Short % of Float
of tradable shares sold short
456.1K
Shares Sold Short
-36.3% vs prior count
3.9 Moderate
Days to Cover
trading days of normal volume to buy every short share back
117.5K
Avg Daily Volume
the average used for days to cover
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-11-20 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How IXHL ranks across every disease it competes in
Competitive Position is a premium feature
See how IXHL ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialIXHL News
IXHL▲ +6.5%on this news
Incannex Receives A$6.0 Million R&D Tax Incentive Refund for FY25, Further Strengthening Balance
Incannex Healthcare announced the receipt of A$6.0 million from the Australian Government's R&D Tax Incentive Program, reinforcing its financial position. The company expects an additional A$5.1 million in tax proceeds, bringing the total anticipated funds to over A$11.1 million, which will enhance its financial flexibility and support ongoing clinical developments. The CEO highlighted the importance of this non-dilutive capital, allowing the firm to manage its resources without the need to issue new shares or incurring debt.
Read more →IXHL▲ +7.9%on this newsshared move
Incannex Announces Initiation of Research Coverage by Alliance Global Partners
Incannex Healthcare has announced that Alliance Global Partners (AGP) has initiated research coverage of the company. This report, led by AGP's Managing Director, evaluates Incannex's clinical pipeline, development strategies, and market opportunities. The company views this coverage as a crucial step in enhancing its visibility among investors. However, there are inherent risks, such as the possibility that this coverage may not improve investor awareness as expected.
Read more →IXHLIncannex Healthcare Officially Commences DReAMzz Clinical Study for IHL-42X in Obstructive Sleep Apnea
Incannex Healthcare has officially commenced its DReAMzz clinical study for IHL-42X, targeting obstructive sleep apnea. This study is viewed as a significant operational milestone, marking the progression toward late-stage development and potential regulatory pathways for the drug. All 14 clinical trial sites have been identified and prepared, and the necessary manufacturing and logistical support has been established. IHL-42X has shown promising Phase II trial results, which will guide further optimization and development in addressing the unmet needs in sleep medicine.
Read more →IXHL▼ -13.9%on this newsshared move
Incannex Healthcare Wins MedTech Breakthrough Award for IHL-42X, Underscoring Leadership in Next-Generation Drug Development
Incannex Healthcare has won the 'Best New Technology Solution for Drug Development' award at the 10th annual MedTech Breakthrough Awards for its lead drug candidate, IHL-42X. This oral therapy aims to treat obstructive sleep apnea by combining dronabinol and acetazolamide, reflecting significant clinical progress. The recognition reinforces the company's innovative approach in the biopharmaceutical sector and their ongoing efforts in advancing IHL-42X through late-stage development.
Read more →IXHL▲ +8.5%on this news
Incannex Healthcare PSX-001 Program Aligns with White House Executive Order Accelerating Access to Psychedelic Treatments for Serious Mental Illness
Incannex Healthcare's PSX-001 program for treating Generalized Anxiety Disorder has received support from a recent White House Executive Order aimed at accelerating access to psychedelic treatments. The program, which has demonstrated significant improvements in clinical trials, stands to benefit from a more conducive regulatory framework. CEO Joel Latham emphasized the urgent need for new treatment options for patients suffering from anxiety disorders, making this initiative a pivotal moment for the company and its patients. With over $70 million in cash, Incannex is well-positioned to advance PSX-001 through further clinical development.
Read more →IXHLIncannex Reactivates Share Repurchase Program, Underscoring Confidence in Valuation and Strategic Position
Incannex Healthcare Inc. has reactivated its share repurchase program following a period of inactivity, indicating the company's confidence in its market valuation and future potential. The company holds approximately $75 million in cash and has no debt, positioning it favorably as it advances its clinical pipeline, including treatments for obstructive sleep apnea and generalized anxiety disorder. The board believes that current market perceptions do not accurately reflect its financial strength and progress in clinical programs.
Read more →IXHL▲ +15.8%on this newsshared move
Incannex Healthcare Announces Partnership with the AASM Foundation in Support of Sleep Company Joins AASM Foundation Corporate Recognition
Incannex Healthcare announced a partnership with the AASM Foundation to support research in combating sleep apnea. The collaboration includes a grant for junior investigators and highlights Incannex's commitment to advancing its lead candidate, IHL-42X, an oral treatment for obstructive sleep apnea, which has demonstrated positive results in Phase 2 trials. Additionally, the company has received FDA Fast Track designation, facilitating a quicker path to market for its innovative therapies. This partnership aims to foster further research in sleep medicine and aid those affected by this chronic condition.
Read more →IXHL▼ -6.6%on this news
Incannex Highlights Strong Balance Sheet with Approximately
Incannex Healthcare Inc. has reported a strong financial position with $75 million in cash and no debt, strengthening its ability to develop its clinical pipeline. The company plans to utilize financing proceeds to fund the DReAMzz Phase 2 study for its drug candidate IHL-42X, aimed at treating obstructive sleep apnea. With institutional investors backing their financing efforts, Incannex is set to advance both IHL-42X and PSX-001 for generalized anxiety disorder, while positioning itself for further capital-efficient growth and potential optimizations in future phases of development.
Read more →IXHLIncannex Regains Compliance with Nasdaq Minimum Bid Price Requirement
Incannex Healthcare Inc. (Nasdaq: IXHL) has announced that it has regained compliance with the Nasdaq minimum bid price requirement after its stock maintained a closing price of at least $1.00 per share for eleven consecutive business days. This confirmation ensures the company's continued listing on the Nasdaq Capital Market. With about $75 million in cash and no debt, Incannex is well-positioned to advance its clinical programs, including IHL-42X for obstructive sleep apnea and PSX-001 for generalized anxiety disorder, both of which have shown positive clinical results.
Read more →IXHL▼ -48.4%on this newsshared move
Incannex Healthcare Inc. Announces Pricing of $10 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules NEW YORK and MELBOURNE, Australia
Incannex Healthcare Inc. has announced a registered direct offering to raise $10 million by selling 2,000,000 shares of common stock. The offering, expected to close on March 13, 2026, involves warrants that could increase total potential funding to $23 million if exercised. The funds are primarily intended to support the DReAMzz Phase 2 study for the candidate IHL-42X, while the company also has prior cash reserves for Phase 3 development planned for late 2027. The issuance is seen as a positive move for the company's financial stability and operational progress.
Read more →IXHL▼ -48.4%on this newsshared move
Innovating New Pathways to Relief NASDAQ:IXHL INVESTOR PRESENTATION February 2026 2 Corporate Presentation Legal Disclaimers This presentation of Incannex Healthcare Inc . (" Incannex ") contains "forward - looking state
Incannex Healthcare Inc. delivered an investor presentation highlighting its innovative pipeline focused on chronic conditions like Obstructive Sleep Apnea and Generalized Anxiety Disorder. The presentation included forward-looking statements about their ability to achieve objectives, regulatory interactions, and market potential. Positive Phase 2 data has been reported for their drug candidates, and the company is described as well-funded with significant cash reserves to advance its clinical programs. However, the report also outlines various risks that could impact their future success.
Read more →IXHL▼ -15.4%on this news
Incannex Announces Reverse Stock Split
Incannex Healthcare Inc. has announced a 1-for-30 reverse stock split of its common stock, set to take effect on February 26, 2026. The move intends to increase the share price to comply with Nasdaq's listing requirements, following approval from stockholders in May 2025. The reverse split will reduce the outstanding shares significantly, from approximately 358 million to about 11.9 million. Stakeholders will see automatic adjustments in their holdings, with no fractional shares issued, as Incannex aims to navigate compliance challenges and continue its clinical development programs.
Read more →IXHLIncannex Healthcare Announces Additional Appointments to Clinical Advisory Board
Incannex Healthcare Inc. has expanded its Clinical Advisory Board by appointing three new members with significant expertise in psychiatry and clinical development. This strategic move aims to enhance the guidance on the clinical and regulatory path for its PSX-001 program, which is being developed as a treatment for generalized anxiety disorder. The newly appointed members bring extensive experience and leadership in their respective fields, which will support informed decision-making as the company progresses its developmental efforts.
Read more →IXHLIncannex Healthcare Announces Formation of Clinical Advisory Board for PSX-001 Program
Incannex Healthcare has announced the formation of a Clinical Advisory Board (CAB) to support the PSX-001 development program targeting generalized anxiety disorder. The CAB is composed of leading experts in psychiatry and neurobiology and will provide clinical and regulatory guidance as the program advances. Key roles include advising on clinical trial design and regulatory engagement, which aims to manage risks and strengthen execution through informed decisions.
Read more →IXHLIncannex Healthcare Wins Research and Development Award for Obstructive Sleep Apnea Program in the 2025
Incannex Healthcare has been awarded the Research and Development Award in the Respiratory Disorders category at the 2025 Clinical Trials Arena Excellence Awards for its product candidate IHL-42X, which aims to treat obstructive sleep apnea. This award highlights the company's dedication to addressing unmet medical needs in the respiratory field through innovative combination therapies. The development of IHL-42X is supported by a robust Phase 2 clinical program focusing on evidence-based outcomes and patient-reported measures. The recognition serves to emphasize Incannex's broader mission in developing novel therapeutic solutions targeting chronic conditions.
Read more →IXHLIncannex Healthcare Delivers Transformational 2025 Progress and Outlines Well-Funded Outlook for 2026
Incannex Healthcare has reported significant progress in 2025, noting two positive Phase 2 clinical readouts for its programs targeting obstructive sleep apnea and generalized anxiety disorder. The company has secured FDA Fast Track designation for its leading candidate, IHL-42X, and is well-funded entering 2026 with over $70 million in cash. This financial backing positions Incannex for continued execution and transition into later-stage development of its drug candidates. The firm also established a Clinical Advisory Board to enhance its strategic direction in advancing treatment solutions.
Read more →IXHL▲ +12.7%on this news
Incannex Granted FDA Fast Track Designation for IHL-42X in Obstructive Sleep Apnea (OSA)
Incannex Healthcare Inc. has received Fast Track designation from the FDA for its oral fixed-dose combination product, IHL-42X, aimed at treating obstructive sleep apnea (OSA). The designation follows favorable outcomes from three clinical trials, including significant reductions in the Apnea-Hypopnea Index. This regulatory milestone is seen as a pivotal step in facilitating expedited development of a new treatment option for OSA patients. Incannex is committed to working closely with the FDA towards late-stage development and commercialization.
Read more →IXHL▲ +17.8%on this news
Incannex Provides Shareholder Update Highlighting Clinical Progress, Capital Discipline, and EOY 2025 Strategic Focus
Incannex Healthcare Inc. has provided a shareholder update emphasizing its clinical advancements and strategic focus for the end of 2025. Key highlights include promising results from the Phase 2 clinical trials for IHL-42X, which showed up to an 83% reduction in AHI for obstructive sleep apnea, and PSX-001 for anxiety disorders. The company has also secured a Nasdaq extension, which is expected to enhance its financial positioning. Incannex is actively exploring partnerships and maintaining a disciplined approach to capital management as it progresses towards late-stage development.
Read more →IXHLIncannex Granted 180-Day Extension by Nasdaq to Regain Compliance with Minimum Bid Price Requirement
Incannex Healthcare Inc. has been granted a 180-day extension by the Nasdaq to meet its minimum bid price requirement. The company now has until April 20, 2026, to ensure its shares maintain a closing bid price of at least $1.00 for a minimum of ten consecutive business days. They have successfully launched two Phase 2 clinical data packages and are well-positioned to execute their strategy, maintaining compliance with other Nasdaq criteria. This extension provides Incannex with the opportunity to address the deficiency while preserving flexibility in their operational objectives.
Read more →IXHLIncannex Reports Positive Results from Phase 2 Clinical Trial of PSX-001 (Psi-GAD) for Generalised Anxiety Disorder
Incannex Healthcare reported positive results from its Phase 2 clinical trial of PSX-001 for Generalised Anxiety Disorder. The study involved 73 adults and showed statistically significant improvements in anxiety and quality of life measures, with the treatment effects observed to be durable over an 11-week follow-up. Safety evaluations indicated that the therapy was well tolerated with no serious adverse events, reinforcing PSX-001's potential as a leading psilocybin-assisted treatment for GAD. Following this success, the company aims to progress towards late-stage development, which could enhance treatment accessibility for patients.
Read more →About Incannex Healthcare Inc.
Headquarters8 CENTURY CIRCUIT, NORWEST NSW
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