Incannex Healthcare (IXHL) Stock Price, News & Analysis
What Changed
Price Move History
- Daily moves over 5%
- 76 252 sessions, September 25, 2025 to September 25, 2026
- Largest daily move
- -48.4% close of March 12, 2026
- 1-year change
- -81.4% closing prices, September 25, 2025 to September 25, 2026
Company Description
Incannex Healthcare Inc. develops clinical-stage biopharmaceutical programs based on combination therapies and regulated botanical wellness medicine. The company’s common stock trades on Nasdaq under the symbol IXHL. Its business is centered on research and development programs for high-impact medical conditions, with company disclosures emphasizing investigational therapies for obstructive sleep apnea and generalized anxiety disorder.
The company’s lead disclosed program is IHL-42X, an investigational oral fixed-dose combination of dronabinol and acetazolamide designed for the treatment of obstructive sleep apnea. Incannex has described IHL-42X as a therapy intended to target underlying mechanisms of obstructive sleep apnea through the combined activity of its two active pharmaceutical ingredients. The program has been reported with Phase 2 clinical results, and the U.S. Food and Drug Administration has granted Fast Track Designation for IHL-42X.
Incannex also develops PSX-001, an oral fixed-dose synthetic botanical research compound formulation in development for generalized anxiety disorder. The company has reported completed Phase 2 clinical work for PSX-001 and positions the program within its broader development focus on novel therapies for serious mental-health conditions.
Incannex manages its business as one reportable and operating segment focused on research and development involving regulated botanical wellness medicine and therapies. Earlier company materials also describe an Australian license to import, export and distribute medicinal cannabis products, as well as a launched line of cannabinoid products. The company’s current public communications emphasize clinical development, regulatory interaction, capital structure, Nasdaq listing status and financing activities related to its investigational pipeline.
Corporate filings identify Incannex Healthcare Inc. as an emerging growth company and list its common stock as registered on The Nasdaq Stock Market LLC. The company has also disclosed capital-structure actions, including a completed 1-for-30 reverse stock split of its common stock and Nasdaq minimum bid price compliance matters. Its principal office is listed in Melbourne, Australia.
Stock Performance
Incannex Healthcare (IXHL) closed at $3.32 on September 25, 2026. Over the past 12 months, the price has lost 81.4%.
IXHL Metrics & Rankings
Price returns through September 25, 2026. Month-to-date and YTD include the first trading day. Ranking links may use different dates.
Latest News
Incannex Healthcare has 10 recent news articles. Of the recent coverage, 6 articles coincided with positive price movement and 4 with negative movement. Key topics include clinical trial. View all IXHL news →
SEC Filings
Incannex Healthcare has filed 10 recent SEC filings, including 7 Form 8-K, 1 Form 10-K, 1 Form SCHEDULE 13G, 1 Form 10-Q. The most recent filing was submitted on September 25, 2026. SEC filings provide transparency into a company's financial condition, material events, and regulatory compliance. View all IXHL SEC filings →
Financial Highlights
Incannex Healthcare generated $86K in revenue in FY2025, operating income reached -$23.8M (-27661.6% operating margin), and net income was -$46.9M, reflecting a -54517.4% net profit margin. Diluted earnings per share stood at -$1.35. The company generated -$12.5M in operating cash flow. With a current ratio of 2.86, the balance sheet reflects a strong liquidity position.
Upcoming Events
Additional R&D Funding
IHL-42X patent expiry
Incannex Healthcare has 2 upcoming scheduled events. The next event, "Additional R&D Funding", is scheduled for January 1, 2027 (in 97 days). 1 of the upcoming events are financial in nature, such as earnings calls or quarterly results. Investors can track these dates to stay informed about potential catalysts that may affect the IXHL stock price.
Short Interest History
Short interest in Incannex Healthcare (IXHL) currently stands at 736.0 thousand shares, down 9.4% from the previous reporting period, representing 7.0% of the float. Since September 2025, short interest has decreased by 86.3%. The 8.4 days to cover indicates moderate liquidity for short covering.
Days to Cover History
Days to cover for Incannex Healthcare (IXHL) currently stands at 8.4 days. This moderate days-to-cover ratio suggests reasonable liquidity for short covering, requiring about a week of average trading volume. The days to cover has increased 745% over the past year, indicating improving liquidity conditions. The ratio has shown significant volatility over the period, ranging from 1.0 to 9.5 days.
IXHL Company Profile & Sector Positioning
Incannex Healthcare (IXHL) operates in the Drug Manufacturers - Specialty & Generic industry within the broader Healthcare sector and is listed on the NASDAQ.
Investors comparing IXHL often look at related companies in the same sector, including SCYNEXIS, Inc. (SCYX), AYTU BioPharma, Inc. (AYTU), Cumberland Pharmaceuticals Inc (CPIX), Talphera, Inc. (TLPH), and Rockwell Medical, Inc. (DE) (RMTI). Comparing financial metrics, valuation ratios, and stock performance across these peers can help investors evaluate IXHL's relative position within its industry.