Stonegate Updates Coverage on Incannex Healthcare Inc. IXHL 1Q 2025
DALLAS, TX -- December 2nd, 2024 -- Incannex Healthcare Inc. IXHL: Stonegate Capital Partners updates their coverage on Incannex Healthcare Inc. 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.
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