What's Going On With Incannex Stock?

Incannex Healthcare Inc. IXHL shares are trading higher Wednesday after the company announced its Psi-GAD1 trial met its primary endpoint.

The Details:

Incannex said that its Phase 2 Psi-GAD1 clinical trial of psilocybin in generalized anxiety disorder met its primary endpoint of demonstrating a large clinical effect in the psilocybin treatment group over the placebo group.

“We are thrilled with the results from our initial PsiGAD trial,” said Incannex CEO Joel Latham. “This is the first time psilocybin has been investigated for treatment of generalized anxiety disorder, and the reduction in HAM-A scores we have observed are far greater than those reported from trials on established medicines for treatment of anxiety."

Incannex has designed the follow-up Phase 2B clinical trial, PsiGAD2, with the assistance of Clerkenwell Health, and the trial will be conducted at multiple sites in the United States and United Kingdom.

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IXHL Price Action: According to Benzinga Pro, Incannex Healthcare shares are up 53% at $6.45 at the time of publication.

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