2.19
-2.23%
Close of 9 Nov 2026, in USD
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About Incannex Healthcare
From its filings with the US Securities and Exchange Commission
Incannex Healthcare is based in Norwest Nsw and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker IXHL. The SEC classifies its business as pharmaceutical preparations. In the fiscal year to 30 June 2026, it reported revenue of $0 and a net loss of $19.3m. At that date it held total assets of $73.0m and shareholders' equity of $67.4m.
We are a clinical-stage biopharmaceutical company developing oral fixed-dose combination therapies and psychedelic-assisted treatments for serious chronic conditions. Our principal development priority is IHL-42X for obstructive sleep apnea. We are also evaluating the next clinical development plan for PSX-001 in generalized anxiety disorder and the potential for further development of IHL-675A in inflammatory conditions. Our aim is to offer patients additional treatment options where existing care does not adequately meet their needs.
IHL-42X, our lead drug candidate for the treatment of obstructive sleep apnea (“OSA”), is an oral fixed-dose combination of dronabinol and acetazolamide designed to act synergistically by targeting two different physiological pathways associated with the intermittent hypoxia and hypercapnia that characterize OSA. We completed the Phase 2 portion of our RePOSA Phase 2/3 clinical trial (the "RePOSA Study") in July 2025, in which we observed that IHL-42X reduced apnea hypopnea index (“AHI”), improved patient reported outcome measures and was well-tolerated in OSA patients. In December 2025, the U.S. Food and Drug Administration (“FDA”) granted Fast Track designation for IHL-42X for the treatment of OSA. We have determined to conduct an additional dose confirmation study, the DReAMzz Study, to further optimize the ratio of dronabinol and acetazolamide prior to advancing into a Phase 3 clinical trial of IHL-42X.
Quoted from its 10-K, filed 25 Sept 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Pharmaceuticals
- Listed since
- 18 Mar 2022
- Website
- incannex.com ↗
- Head office
- 8 CENTURY CIRCUIT, NORWEST NSW
- Incorporated in
- DE
- Classification
- Pharmaceutical Preparations
- Filer status
- Non-accelerated filer<br>Smaller reporting company<br>Emerging growth company
Leadership
Pay as last reported
- Mr. Troy ValentineNon-Executive Chairman of the Board$330,462
- Mr. Joel LathamPresident, Chief Executive Officer, Executive Director, since 2018$1.1m
- Mr. Joseph SwanChief Financial Officer, Controller, Treasurer, Company Secretary$201,193
- Mr. Lekhram ChangoerChief Technology Officer$137,645
- Dr. Luigi BarbatoChief Medical Officer$497,167
- Dr. George AnastassovNon-Executive Independent Director$132,000
- Mr. Robert ClarkNon-Executive Independent Director$75,000
- Mr. Peter WiddowsNon-Executive Independent Director$107,196
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 29
- Environment
- 30
- Social
- 41
- Governance
- 16
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- The company operates in the Health Care sector with a focus on Pharmaceuticals.
- It has a diversified portfolio containing 28 distinct research and development programs.
- Six clinical trials are currently underway for various medicinal cannabinoid products.
Weaknesses
- The company is a clinical-stage pharmaceutical development firm without approved products.
- It is headquartered in New York City, which may increase operational costs.
- The firm went public on 18 March 2022, indicating a recent market entry.
Opportunities
- Medicinal cannabinoid products target obstructive sleep apnea and traumatic brain injury indications.
- Psychedelic medicine therapies address anxiety disorders and addiction disorders in patients.
- Research programs cover lung inflammation conditions like COPD and asthma.
Threats
- Developing psychedelic medicine therapies faces potential regulatory hurdles in the US.
- Competitors in the Pharmaceuticals industry may launch similar treatments for pain.
- Clinical trial results for IHL-42X could fail to meet efficacy standards.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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