Incannex Healthcare Inc. (NASDAQ: IXHL) recently disclosed its fiscal second-quarter 2025 financial results and provided updates regarding its business operations. The company, based in Melbourne, Australia, is a clinical-stage biopharmaceutical firm at the forefront of developing oral combination medicines aiming to address various medical conditions.
Joel Latham, the President and Chief Executive Officer of Incannex, highlighted the significance of their latest achievement in the treatment of Obstructive Sleep Apnea (OSA). The company’s oral, once-daily treatment, IHL-42X, demonstrated positive top-line results from a pharmacokinetics (PK) and safety study. These results are crucial for the OSA program, of which the data will be supportive for the forthcoming FDA 505(b)(2) New Drug Application (NDA) submission.
In operational highlights, the RePOSA Global Phase 2/3 clinical trial has shown progress with robust recruitment at U.S. sites. The trial’s design entails expansion to sites in the U.K. and the U.S. for the Phase 3 study. Manufacturing of the IHL-42X clinical supply has been successfully completed to facilitate the initiation of Phase 3 trials.
Clinically, positive top-line results from the PK and safety study of IHL-42X indicated bioavailability and delivery of the drug components, thus potentially aiding in future regulatory submissions. Financially, Incannex reported General and Administration expenses of $3.6 million USD and Research and Development expenses of $1.4 million USD for the three months ended December 31, 2024.
The company disclosed a net loss of $6.3 million USD for the same period and identified cash and cash equivalents of $2.1 million USD as of December 31, 2024, in comparison to $3.6 million USD as of September 30, 2024.
Incannex’s lead drug candidate, IHL-42X, is currently in Phase 2/3 clinical trials for OSA treatment. Another product in development is IHL-675A, designed for rheumatoid arthritis, while PSX-001 targets Generalized Anxiety Disorder (GAD). The company’s efforts focus on unlocking effective treatment options for conditions lacking adequate pharmaceutical solutions.
The healthcare sector eagerly awaits the progress made by Incannex Healthcare Inc., exemplifying innovation and dedication towards combating critical health challenges.
(Source: MarketBeat, based on Incannex Healthcare Inc.’s 8-K SEC Filing and attached Exhibit 99.1)
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Incannex Healthcare’s 8K filing here.
About Incannex Healthcare
Incannex Healthcare Inc, a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.
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