24/7 Market News Snapshot 12 June, 2025 – Incannex Healthcare Limited American Depositary Shares (NASDAQ:IXHL)

June 12, 2025

DENVER, Colo., 12 June, 2025 (www.247marketnews.com) – (NASDAQ:IXHL) are discussed in this article.
Incannex Healthcare Limited (IXHL) is experiencing a notable increase in investor interest, as evidenced by a pre-market trading price of $0.232, reflecting a 13.78% rise from the previous close of $0.204. This surge is accompanied by significant trading volume, with 17.98 million shares exchanged, pointing to robust market participation and potential momentum. Investors are advised to observe key levels of support at approximately $0.204 and potential resistance near $0.25, as sustained bullish activity may signal further upward movement for IXHL in the near term.

In a strategic development, Incannex is pleased to announce the successful cancellation of all remaining Series A Warrants, further enhancing shareholder value and solidifying a strong capital structure. The company effectively utilized its At-The-Market (ATM) facility to generate the required capital, amply covering the $12.2 million needed to exchange the outstanding 172 million Series A Warrants, following a prior commitment to cancel an additional 175.2 million warrants earlier this year.

This significant achievement mitigates the impact of 347.2 million shares potentially entering the market, thereby streamlining the capital framework and preparing Incannex for key future milestones. CEO Joel Latham highlighted the strategic significance of this move, noting that the dilution risk has been substantially reduced, allowing Incannex to focus on critical objectives, including the anticipated topline results from the ongoing Phase 2 RePOSA trial of IHL-42X for obstructive sleep apnea, expected in July.

IHL-42X serves as a promising first-in-class oral therapeutic option for obstructive sleep apnea (OSA), addressing a pressing unmet need in a condition affecting millions globally. The drug, previously shown to reduce apnea episodes in clinical trials, holds the potential to revolutionize OSA treatment amidst the current lack of FDA-approved medications. As the RePOSA global trial proceeds and further data materializes, Incannex remains at the forefront of developing innovative biopharmaceutical solutions for chronic conditions, committed to advancing healthcare outcomes.

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