IXHL News & Events

Incannex announced that it has reactivated its previously approved share repurchase program, with the program having been active over the past two trading days. The company has utilized the buyback program opportunistically in the past, however had not actively repurchased shares in recent periods. Following its recent financing, Incannex has approximately $75M in cash on hand and no debt.

Incannex announced it has entered into a partnership agreement with the American Academy of Sleep Medicine, or AASM, Foundation. Through this partnership, Incannex has joined the AASM Foundation's Corporate Recognition Program and will sponsor a Focused Projects Grant for Junior Investigators dedicated to the Diagnosis, Management, and Treatment of Sleep Apnea, to be awarded in 2026.

Incannex Healthcare reported that it holds approximately $75 million in cash with no debt, following the completion of its recently announced financing led by dedicated healthcare-focused institutional investors. At current trading levels, Incannex's market capitalization is approximately $46 million - representing a significant disconnect to the Company's $75 million cash position and resulting in a negative enterprise value. Management believes this disconnect does not reflect the Company's financial strength or, the continued advancement of its clinical pipeline, or the external validation demonstrated by the participation of healthcare-focused institutional investors in the recently completed financing. The participation of healthcare-focused institutional investors in this financing reflects meaningful external validation of both the Company's clinical program and the long-term value potential of IHL-42X. Incannex now holds approximately $75 million in cash with no debt, positioning the Company with a strong balance sheet as it advances IHL-42X for obstructive sleep apnea and PSX-001 for the treatment of generalized anxiety disorder. Proceeds from the recently completed financing are expected to fund the Company's DReAMzz Phase 2 crossover dose-optimization study for IHL-42X. The study is designed to further optimize the ratio of the two active pharmaceutical ingredients within the drug candidate, with the goal of maximizing efficacy across both objective physiological endpoints and patient-reported outcomes. Funding DReAMzz with proceeds from the recent financing allows the Company to preserve the majority of its existing capital for the next stage of development, including an optimized Phase 3 program. The Company's board-approved share buyback program remains available and carries remaining capacity, providing management with an additional tool to deliver shareholder value when market conditions warrant.