Stonegate Updates Coverage on Incannex Healthcare Inc. (IXHL) 1Q 2025
Stonegate Capital Partners has updated its coverage on Incannex Healthcare Inc. (NASDAQ: IXHL) for Q1 2025. The company reported research and development costs of $2.9M, marking a $0.3M increase from Q1 2024. IXHL recovered 28.0% of these costs through an R&D tax incentive of $0.8M, with expectations of normalization around 43.5%. The company has completed dosing for its Phase 2/3 FDA trial for Obstructive Sleep Apnea treatment and received FDA IND clearance for PSX-001, targeting Generalized Anxiety Disorder. Stonegate's probability-adjusted DCF model suggests a per share valuation range of $5.07 to $5.93.
Stonegate Capital Partners ha aggiornato la sua copertura su Incannex Healthcare Inc. (NASDAQ: IXHL) per il primo trimestre del 2025. L'azienda ha riportato costi di ricerca e sviluppo di $2.9M, segnando un incremento di $0.3M rispetto al primo trimestre del 2024. IXHL ha recuperato il 28,0% di questi costi attraverso un incentivo fiscale R&D di $0.8M, con aspettative di normalizzazione attorno al 43,5%. L'azienda ha completato la somministrazione per il suo trial FDA di Fase 2/3 per il trattamento dell'apnea notturna ostruttiva e ha ricevuto l'approvazione IND della FDA per PSX-001, mirato al disturbo d'ansia generalizzato. Il modello DCF aggiustato per probabilità di Stonegate suggerisce un intervallo di valutazione per azione di $5.07 a $5.93.
Stonegate Capital Partners ha actualizado su cobertura sobre Incannex Healthcare Inc. (NASDAQ: IXHL) para el primer trimestre de 2025. La compañía reportó costos de investigación y desarrollo de $2.9M, marcando un aumento de $0.3M en comparación con el primer trimestre de 2024. IXHL recuperó el 28,0% de estos costos a través de un incentivo fiscal R&D de $0.8M, con expectativas de normalización alrededor del 43,5%. La empresa ha completado la dosificación para su ensayo FDA de Fase 2/3 para el tratamiento de la apnea obstructiva del sueño y recibió la autorización IND de la FDA para PSX-001, dirigido al trastorno de ansiedad generalizada. El modelo DCF ajustado por probabilidad de Stonegate sugiere un rango de valoración por acción de $5.07 a $5.93.
Stonegate Capital Partners는 Incannex Healthcare Inc. (NASDAQ: IXHL)에 대한 2025년 1분기 커버리지를 업데이트했습니다. 회사는 2024년 1분기 대비 $2.9M의 연구 및 개발 비용을 보고했으며, 이는 $0.3M의 증가를 의미합니다. IXHL은 이러한 비용의 28.0%를 R&D 세액 공제인 $0.8M을 통해 회수했으며, 정상화가 약 43.5%가 될 것으로 예상하고 있습니다. 회사는 폐쇄성 수면 무호흡증 치료를 위한 FDA 2/3상 시험에 대한 투여를 완료했으며, 일반화된 불안 장애를 목표로 하는 PSX-001에 대한 FDA IND 승인을 받았습니다. Stonegate의 확률 조정 DCF 모델은 $5.07에서 $5.93의 주당 가치 범위를 제시합니다.
Stonegate Capital Partners a mis à jour sa couverture concernant Incannex Healthcare Inc. (NASDAQ: IXHL) pour le premier trimestre 2025. L'entreprise a rapporté des coûts de recherche et développement de $2.9M, marquant une augmentation de $0.3M par rapport au premier trimestre 2024. IXHL a récupéré 28,0% de ces coûts grâce à un incitatif fiscal R&D de $0.8M, avec des attentes de normalisation autour de 43,5%. L'entreprise a terminé la posologie pour son essai FDA de Phase 2/3 pour le traitement de l'apnée du sommeil obstructive et a reçu l'approbation IND de la FDA pour PSX-001, visant le trouble d'anxiété généralisée. Le modèle DCF ajusté par probabilité de Stonegate suggère une fourchette de valorisation par action de $5.07 à $5.93.
Stonegate Capital Partners hat seine Berichterstattung über Incannex Healthcare Inc. (NASDAQ: IXHL) für das erste Quartal 2025 aktualisiert. Das Unternehmen berichtete von Forschung und Entwicklungskosten in Höhe von $2.9M, was einen Anstieg um $0.3M im Vergleich zum ersten Quartal 2024 bedeutet. IXHL hat 28,0% dieser Kosten durch einen R&D-Steueranreiz von $0.8M zurückgewonnen, mit Erwartungen einer Normalisierung bei etwa 43,5%. Das Unternehmen hat die Dosierung für seine FDA-Studie der Phase 2/3 zur Behandlung der obstruktiven Schlafapnoe abgeschlossen und erhielt die FDA IND-Freigabe für PSX-001, das auf eine generalisierte Angststörung abzielt. Das von Stonegate angepasste DCF-Modell für Wahrscheinlichkeiten deutet auf einen Bewertungsspielraum von $5.07 bis $5.93 pro Aktie hin.
- FDA IND clearance received for PSX-001 anxiety disorder treatment
- Completion of Phase 2/3 FDA trial dosing for Sleep Apnea treatment
- R&D tax incentive recovery of $0.8M (28% of costs)
- Analyst valuation range of $5.07-$5.93 per share
- R&D costs increased by $0.3M compared to Q1 2024
- Expected continued increase in R&D expenses
Insights
The update reveals significant progress in IXHL's clinical pipeline, with two notable developments: completion of Phase 2/3 FDA trial dosing for their OSA treatment and FDA IND clearance for PSX-001 targeting anxiety disorder. R&D expenses increased by
The increased R&D spending and advancement in clinical trials indicate positive momentum in drug development. However, the lower-than-expected R&D tax recovery rate of
Dallas, Texas--(Newsfile Corp. - December 2, 2024) - Incannex Healthcare Inc. (NASDAQ: IXHL): Stonegate Capital Partners updates their coverage on Incannex Healthcare Inc. (NASDAQ: IXHL). During 1Q 2025 the Company reported research and development costs of
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
- Incannex's novel drug to treat Obstructive Sleep Apnea has completed dosing for the Phase 2/3 FDA trial.
- IXHL has received IND clearance from the FDA for its PSX-001 drug, designed to treat Generalized Anxiety Disorder.
- When we use a probability adjusted DCF model, it returns an estimated per share valuation range of
$5.07 t o$5.93 .
Click image above to view full announcement.
About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
Contacts:
Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com
Source: Stonegate, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232235
FAQ
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