Incannex Healthcare Inc. IXHL

3.32 (0.08) (2.35%) as of 25 Sep
Market cap
$40.7M
P/E
0.0×

Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 14.89%

Capital & Financial Ratios

Market Cap 40.66
Revenue 1.56
Net Income (48.41)
Free Cash Flow (17.73)
Net Debt (74.45)
Current Ratio 41.56
Debt/Equity 0.00
P/E ratio 0.00
P/S ratio 26.27
P/B ratio 0.54
Past 5Y EPS Growth (130.90%)
This Y EPS Growth 96.59%
Next Y EPS Growth 11.59%
Next 5Y EPS Growth 64.25%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 22 6 15 74
Receivables 0 10 4 5
Inventory — — — —
Other 1 1 1 0
23 16 20 80
2023 2024 2025 Q'26
Payables 2 1 6 2
ST’ Debt — — — —
Other — — — —
3 6 7 2
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — (29.64%) (46.83%)
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 43.93% (19.87%)

Revenue

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — 0 0 0
’24 — — — — 0
’23 — — — — 1
’22 — — — — 1
’21 — 1 — 1 1
’20 — 0 — 0 0
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Sep Dec Mar Jun Year
’26 (9) (5) (2) — —
’25 (2) (6) (3) (1) (13)
’24 (6) (2) (4) (4) (16)
’23 — (5) (3) (3) (11)
’22 — (4) — (9) (9)
’21 — (2) — (3) (5)
’20 — (1) — (2) (3)
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Sep Dec Mar Jun Year
’26 (9) (5) (2) — —
’25 (2) (6) (3) (1) (13)
’24 (6) (2) (4) (4) (16)
’23 — (5) (3) (3) (11)
’22 — (4) — (9) (9)
’21 — (2) — (3) (5)
’20 — (1) — (2) (3)
in millions of $ · fiscal quarters ending in the months shown

EPS

Sep Dec Mar Jun Year
’26 (0.60) (0.60) (0.35) — —
’25 (8.71) (9.91) (6.01) (15.53) (40.54)
’24 (1.37) (9.91) (11.41) (11.71) (34.53)
’23 — (0.01) (6.76) (0.01) (95.27)
’22 — 0.00 — (0.01) (6.91)
’21 — 0.00 — 0.00 (0.01)
’20 — 0.00 — 0.00 (0.01)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
— — — — — — 312.00 58.80 45.00 2.40

Analyst estimates 2026–2028

Powerpack
Low Price
— — — — — — 11,528.40 438.00 254.10 67.50
High Price
— — — — — — 5 10 9 12
Employees
— 0 0 — 0 0 0 0 0 0
Revenue/Emp
— 0 1 — 0 1 1 1 0 0
Revenue
— (296.52%) (78.22%) 0.00% (33.80%) (45.28%) 99.20% 100.00% 100.00% 100.00%
Gross Margin
— (16) (2) (1) (3) (9) (11) (49) (18) (47)
EBT
— (7,445.43%) (317.26%) 0.00% (539.74%) (588.29%) (1,889.69%) (5,266.62%) (153,575.00%) (54,517.44%)
EBT Margin
— 0 (2) (1) (3) (9) (11) (49) (18) (47)
Net Income
— 0 0 0 0 — — 0 0 0
Depreciation
— 0.03 0.06 0.00 0.00 0.01 0.36 1.81 0.02 0.08
Revenue/Sh
— (0.12) (0.01) (0.01) (0.01) (0.01) (6.91) (95.27) (34.53) (40.54)
Earnings/Sh
— (0.27) (0.16) (0.01) (0.02) (0.02) (5.86) (20.98) (29.44) (10.91)
Cash Flow/Sh
— 0.00 0.00 0.00 0.00 0.00 0.00 (0.62) (0.51) (0.01)
Capex/Sh
— (0.27) (0.16) (0.01) (0.02) (0.02) (5.86) (21.60) (29.95) (10.91)
Free CF/Sh
— (0.02) (0.02) 0.00 0.01 0.03 16.40 40.65 20.84 11.67
Book Value/Sh
— 8 13 116 177 252 2 1 1 1
Shares
— 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00
PE Ratio
— 266,818.62 266,818.62 — 266,818.62 266,818.62 73,237.35 45,494.47 24.02 4.76
PS Ratio
— 37,500.94 37,500.94 — 37,500.94 37,500.94 5,580.92 4,332.16 4.25 0.56
PB Ratio
— 266,811.40 266,811.40 — 266,811.40 266,811.40 73,223.63 45,483.58 21.34 (2.45)
EV/Sales
— (49,145.25) (49,145.25) — (49,145.25) (49,145.25) (7,879.84) (4,433.09) (2.62) 0.31
EV/FCF
— (2) (2) (2) (3) (5) (9) (11) (16) (13)
Op' Cash Flow
— 0 0 0 — — — 0 0 0
Capex
— (2) (2) (2) (3) (5) (9) (11) (16) (13)
FCF
— 0 0 0 2 6 26 20 11 13
Working Cap'
— 0 0 0 — — — 1 — —
Total Debt
— 0 0 0 (2) (7) (27) (22) (6) (15)
Net Debt
— 0 0 0 2 6 26 21 11 13
Sh' Equity
— (2,460.51%) (832.89%) (428.85%) (197.18%) (172.48%) (62.69%) (190.43%) (90.42%) (250.09%)
ROA
— 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% (350.36%) 0.00%
ROIC
— 7,693.35% 1,055.51% 660.44% (343.08%) (198.54%) (66.60%) (208.38%) (115.22%) (381.09%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Jun 2025 · latest quarter Dec 2024

Incannex Healthcare Inc. peers in Drug Manufacturers Specialty & Generic

All 86 Drug Manufacturers Specialty & Generic stocks →

Incannex Healthcare Inc. (IXHL) key facts

  • Incannex Healthcare Inc. (IXHL) is a Drug Manufacturers Specialty & Generic company in the Healthcare sector, traded in the US as an ADR.
  • Incannex Healthcare Inc.’s revenue for fiscal 2025 (year ended June 2025) was AUD 86,000.00, up 616.7% from fiscal 2024.
  • As of September 25, 2026, IXHL traded at $3.32, a market capitalization of $40.7 million.
  • Return on equity was −381.1% and debt-to-equity 0.00.

Source: company filings (standardised) and stockrow calculations.

Incannex Healthcare Inc. (IXHL) Latest News

News by impact score

Fine-tune

9 Sep

3

Incannex Healthcare advances multiple clinical programs, expands its intellectual property portfolio with new patents, and reports sufficient capital to fund operations through key milestones. Updates on clinical progress and IP directly affect development pipeline and competitive positioning but remain incremental rather than transformative.

25 Aug

3

Incannex Healthcare Inc. dosed the first patient in the DReAMzz Phase 2 study of IHL-42X. First patient dosing in Phase 2 advances clinical development of IHL-42X but stays an early-stage milestone.

23 Jul

3

Incannex Healthcare has begun screening participants for its DReAMzz Phase 2 study of IHL-42X in obstructive sleep apnea. Phase 2 screening start advances IHL-42X development but remains an early-stage trial milestone with limited immediate market effects.

15 Jul

4

Incannex Healthcare Inc. (IXHL) secures U.S. patent grant for IHL-42X in obstructive sleep apnea. Patent strengthens IP protection for core OSA asset and supports long-term commercial positioning.

25 Jun

4

Incannex Healthcare secures U.S. patent grant for IHL-42X in obstructive sleep apnea. Patent grant for lead candidate IHL-42X secures IP protection in obstructive sleep apnea and supports future commercialization potential.

14 May

4

Incannex Healthcare Inc. (IXHL) officially commences the DReAMzz clinical study for IHL-42X, a combination therapy targeting obstructive sleep apnea. Commencing the DReAMzz study advances Incannex's lead pipeline candidate IHL-42X toward potential approval in obstructive sleep apnea, significantly boosting investor sentiment and stock trajectory.

12 May

4

Incannex Healthcare Inc. (IXHL) wins MedTech Breakthrough Award for IHL-42X, highlighting leadership in next-generation drug development. Award win validates IHL-42X innovation, boosting investor sentiment and competitive positioning for future growth.

22 Apr

4

Incannex Healthcare Inc. (IXHL) PSX-001 program aligns with White House Executive Order accelerating access to psychedelic treatments for serious mental illness. Alignment with White House Executive Order boosts IXHL's PSX-001 credibility, regulatory momentum, and investor interest in psychedelic mental health treatments.

27 Mar

4

Incannex Healthcare Inc. (IXHL) reactivates its share repurchase program, signaling strong confidence in its current valuation and strategic position. Reactivating the share repurchase program signals management's belief in undervaluation, likely boosting investor sentiment and supporting near-term stock performance.

25 Mar

3

Incannex Healthcare Inc. (IXHL) announced a partnership with the AASM Foundation to support sleep apnea research. Partnership advances sleep apnea research efforts aligning with Incannex's therapeutic pipeline, potentially influencing R&D progress and investor sentiment.

18 Mar

4

Incannex Healthcare Inc. (IXHL) reports a strong balance sheet with approximately $75 million in cash and no debt, supporting advancement of its IHL-42X development program. Robust cash reserves without debt provide extended runway for IHL-42X advancement, significantly enhancing financial stability and investor confidence.

17 Mar

3

Incannex Healthcare Inc. (IXHL) regained compliance with Nasdaq's minimum bid price requirement after its common stock closed at or above $1.00 for 10 consecutive business days, satisfying Listing Rule 5550(a)(2) and avoiding delisting risk. Regaining Nasdaq compliance stabilizes stock listing status and boosts short-term market sentiment without altering core operations or long-term prospects.

12 Mar

4

Incannex Healthcare Inc. (IXHL) strengthens clinical development pathway for IHL-42X following positive Phase 2 trial outcomes. Positive Phase 2 results for IHL-42X enable pathway advancement, significantly enhancing IXHL's drug pipeline and market prospects.

3

Incannex Healthcare Inc. priced a $10 million registered direct offering at-the-market under Nasdaq rules. $10 million capital raise strengthens cash reserves for operations but dilutes existing shareholders.

3 Mar

3

Incannex Healthcare Inc. (IXHL) implements a 1-for-30 reverse stock split effective February 26, consolidating every 30 shares into one to reduce outstanding shares and meet Nasdaq listing requirements. The 1-for-30 reverse split addresses listing compliance but signals financial distress, moderately impacting investor sentiment and short-term market performance.

25 Feb

3

Incannex Healthcare Inc. (IXHL) announced a reverse stock split. Reverse stock split signals potential listing compliance needs and short-term market volatility without fundamentally changing operations.

29 Jan

4

Incannex Healthcare Inc. has announced the addition of new members to its Clinical Advisory Board, aiming to enhance its research and development capabilities. The new appointees bring extensive experience in clinical research and medical practice, which is expected to support the company's initiatives in developing cannabinoid-based therapies. This strategic move is part of Incannex's ongoing efforts to strengthen its clinical programs and improve its competitive positioning in the healthcare market. The appointments to the Clinical Advisory Board are likely to significantly enhance the company's research capabilities and strategic direction.

22 Jan

4

Incannex Healthcare Inc. has established a Clinical Advisory Board for its PSX-001 program, aimed at advancing its research and development efforts. The board comprises experts in various fields, including clinical research and cannabinoid therapies, who will provide strategic guidance and insights. This initiative is expected to enhance the company's capabilities in developing innovative treatments and improve its competitive positioning in the healthcare market. The formation of a Clinical Advisory Board is a significant strategic move that could enhance product development and market positioning.

15 Jan

4

Incannex Healthcare Inc. has been awarded a Research and Development Award for its Obstructive Sleep Apnea Program at the 2025 Clinical Trials Arena Excellence Awards, highlighting the company's commitment to advancing innovative treatments in this area. Winning a prestigious award for a key program is likely to enhance investor sentiment and support future growth initiatives.

14 Jan

4

Incannex Healthcare Inc. (IXHL) has reported significant progress in its 2025 initiatives, highlighting advancements in product development and clinical trials. The company has outlined a well-funded outlook for 2026, indicating strong financial positioning and strategic growth plans. This progress is expected to enhance its competitive edge in the healthcare market, particularly in cannabinoid-based therapies. The outlined progress and funding for future initiatives are likely to significantly impact the company's trajectory and investor sentiment.

3 Dec

4

Incannex Healthcare Inc. has received FDA Fast Track Designation for its drug IHL-42X, aimed at treating Obstructive Sleep Apnea (OSA). This designation is intended to expedite the development and review process for drugs that address unmet medical needs. The company aims to advance its clinical trials and potentially bring the treatment to market more quickly, enhancing its position in the healthcare sector. FDA Fast Track Designation can significantly accelerate the development timeline and market entry for IHL-42X, impacting the company's future performance.

1 Dec

4

Incannex Healthcare Inc. (IXHL) is gaining attention as a potential buy stock due to its innovative approach in the healthcare sector, particularly in cannabinoid-based therapies. The company is advancing its clinical trials and expanding its product pipeline, which could enhance its market position. Analysts highlight the growing acceptance of cannabis in medical treatments and the company's strategic partnerships as key factors driving investor interest. With a focus on research and development, Incannex aims to capitalize on emerging opportunities in the healthcare market, positioning itself for future growth. Significant advancements in clinical trials and product development are likely to alter the company's trajectory and investor sentiment.

20 Nov

3

Stonegate has updated its coverage on Incannex Healthcare Inc. (IXHL) for the first quarter of 2026, providing insights into the company's performance and strategic direction. The report highlights key developments and projections that may influence investor sentiment and market positioning. The coverage update is expected to moderately influence investor sentiment and market performance.

30 Oct

4

Incannex Healthcare Inc. (IXHL) provided a shareholder update detailing its clinical progress, emphasizing capital discipline and outlining a strategic focus for the end of 2025. The company highlighted advancements in its clinical trials and ongoing commitment to financial prudence as it aims to enhance shareholder value. Significant clinical progress and strategic focus could notably influence the company's future performance and investor sentiment.

22 Oct

3

Incannex Healthcare Inc. has received a 180-day extension from Nasdaq to comply with the minimum bid price requirement. The extension allows the company until May 2024 to achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive trading days. Failure to meet this requirement could result in delisting from the exchange. The extension provides Incannex with additional time to stabilize its stock price, which may influence market sentiment and operational strategies.

26 Aug

4

Incannex Healthcare Inc. reported positive results from its Phase 2 clinical trial of PSX-001 (Psi-GAD) for Generalised Anxiety Disorder. The trial demonstrated significant improvements in anxiety symptoms among participants, indicating the potential effectiveness of the treatment. These findings could pave the way for further development and commercialization of PSX-001, enhancing the company's position in the mental health therapeutics market. Positive trial results could significantly impact future product development and market positioning for Incannex Healthcare.

22 Aug

4

Incannex Healthcare Inc. has authorized a $20 million share repurchase program aimed at enhancing shareholder value. The initiative reflects the company's confidence in its growth prospects and financial stability. The repurchase program is expected to be executed over the next 12 months, allowing the company to buy back its shares from the open market. This strategic move is anticipated to positively impact the stock price and overall market perception of Incannex. The share repurchase program is a significant strategic move that could enhance shareholder value and positively influence market sentiment.

19 Aug

3

Stonegate has updated its coverage on Incannex Healthcare Inc. (IXHL) for the third quarter of 2025, providing insights into the company's performance and strategic direction. The report highlights key developments and projections that could influence IXHL's market position and investor sentiment moving forward. The update indicates moderate influence on IXHL's financial performance and market positioning.

17 Aug

4

Incannex Healthcare Inc. (IXHL) has reported positive patient-reported outcomes for its drug IHL-42X, which is being developed for the treatment of obstructive sleep apnoea. The results indicate significant improvements in patient symptoms and quality of life, suggesting the potential effectiveness of IHL-42X in managing this condition. These findings may enhance the company's position in the market and support further development of the drug. Positive patient-reported outcomes for IHL-42X could significantly influence market sentiment and the company's future performance in the sleep apnoea treatment sector.

8 Aug

4

Incannex Healthcare Inc. (IXHL) has reported positive patient-reported outcomes and compelling Phase 2 efficacy data for its drug IHL-42X, aimed at treating obstructive sleep apnoea. The results indicate significant improvements in patient symptoms, suggesting the potential for IHL-42X to become a viable treatment option in this area. The company is optimistic about advancing the drug through further clinical trials. Positive Phase 2 data for IHL-42X could significantly enhance the company's product pipeline and market position in the sleep apnoea treatment sector.

stockrow.com/IXHL · Data as of Dec 31, 2024 · For information only; not investment advice. · © 2026 stockrow.com