Incannex Reports Positive Phase 2 Psi-GAD1 Clinical Trial Topline Results

February 28, 2024

DENVER, Colo., Feb 28, 2024 (247marketnews.com)- Incannex Healthcare Inc. (NASDAQ:IXHL) reported, this morning, positive topline results from its psilocybin in generalized anxiety disorder (GAD) Phase 2 Psi-GAD1 clinical trial, and that the trial met its primary endpoint, demonstrating a large clinical effect in the psilocybin treatment group over the placebo group, the high

Incannex Healthcare is trading at $9.22, up $5.00 (+118.48%), on trading volume of 1,068,021 shares. The only resistance between here and a potential new 52-week high are two daily price spikes.

“We are thrilled with the results from our initial PsiGAD trial,” said President and CEO Joel Latham. “This is the first time psilocybin has been investigated for treatment of generalised anxiety disorder, and the reduction in HAM-A scores we have observed are far greater those reported from trials on established medicines for treatment of anxiety. The improvement in anxiety scores in PsiGAD1 are of a similar magnitude to the change seen in studies investigating psilocybin for treatment of depression disorders. Safety is a key component of any new therapy, and we are delighted that no serious or severe adverse events were observed in PsiGAD patients, which is testament to the focus on safety within the PsiGAD treatment protocol. The safety and efficacy results from PsiGAD1 implore us to continue the development of PsiGAD through large scale well-controlled trials, because this treatment method has the potential to improve the quality of life for millions of people suffering from generalised anxiety disorder.”

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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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