Stonegate Updates Coverage on Incannex Healthcare Inc. (NasdaqGM:IXHL) 1Q 2025

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Get Alerts IXHL Hot Sheet

Price: $3.57 -1.38%

Overall Analyst Rating:
SELL (= Flat)

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DALLAS, TX -- December 2nd, 2024 -- Incannex Healthcare Inc. (NasdaqGM:IXHL): Stonegate Capital Partners updates their coverage on Incannex Healthcare Inc. (NasdaqGM:IXHL). During 1Q 2025 the Company reported research and development costs of $2.9M, an increase of $0.3M from 1Q24. We expect R&D costs to continue to climb as the Company focuses on getting its drug candidates across the finish line. IXHL recovered 28.0% of these costs with an R&D tax incentive of $0.8M. We expect that this will normalize around 43.5% for the foreseeable future.

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 to $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.