Incannex Healthcare
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Incannex Healthcare (IXHL) investor relations material

Incannex Healthcare Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary13 Feb, 2026

Executive summary

  • Focused on clinical-stage biopharmaceutical development, advancing IHL-42X, PSX-001, and IHL-675A for chronic diseases with unmet needs.

  • No material revenue generated; operations funded by equity, debt, and government incentives.

  • Net loss for the six months ended December 31, 2025, was $12.9 million, with comprehensive loss of $13.0 million.

Financial highlights

  • Cash and cash equivalents rose to $68.9 million as of December 31, 2025, up from $15.0 million at June 30, 2025.

  • Current assets exceeded current liabilities by $73.1 million at December 31, 2025.

  • Operating expenses for the six months ended December 31, 2025, were $13.8 million, up 22% year-over-year.

  • R&D expenses decreased by $0.9 million year-over-year due to trial completions and resource reallocation.

  • General and administrative expenses increased by $3.4 million year-over-year, mainly from stock-based compensation and consulting fees.

  • Net cash used in operating activities was $13.8 million for the six months ended December 31, 2025.

Outlook and guidance

  • Sufficient liquidity to fund operations for at least twelve months from the reporting date.

  • Expectation of continued increases in R&D and administrative expenses as clinical programs advance.

  • No material revenue expected until drug candidates are approved.

Explain IHL-675A's US expedited pathway strategy
What is the impact of the material weakness?
Reconcile share issuance with buyback strategy
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Frequently asked questions

Incannex Healthcare Inc. is a clinical-stage pharmaceutical company focused on developing medicinal cannabis and psychedelic pharmaceutical products. The company is engaged in the research, development, and commercialization of therapies aimed at addressing a range of medical conditions. These include obstructive sleep apnea (OSA), traumatic brain injury (TBI), lung inflammation, rheumatoid arthritis, inflammatory bowel disease, anxiety, addiction, and chronic pain. Incannex Healthcare's product portfolio consists of both cannabinoid-based formulations and novel psychedelic therapies, which are in various stages of clinical development. The company is headquartered in Sydney, Australia, and its shares are listed on the NASDAQ.

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