Incannex Achieves Milestone in Sleep Apnea Drug Trial

Incannex Healthcare Limited Sponsored ADR ( (IXHL) ) has issued an update.

On June 18, 2025, Incannex Healthcare Inc. announced the achievement of a key milestone with the database lock for the RePOSA Phase 2 trial of IHL-42X, its lead drug candidate for obstructive sleep apnea. This milestone confirms the completion of clinical data collection, enabling final statistical analysis and keeping the company on track to deliver top-line results in July 2025. The development of IHL-42X represents a breakthrough opportunity to address obstructive sleep apnea, a condition affecting hundreds of millions globally, with no approved oral pharmacological treatment available. The trial is evaluating IHL-42X in patients who are unable or unwilling to use CPAP, aiming to offer a patient-friendly alternative and disrupt the treatment paradigm for this vastly underserved population.

Spark’s Take on IXHL Stock

According to Spark, TipRanks’ AI Analyst, IXHL is a Underperform.

The overall stock score for IXHL stands at 39, driven by the company’s initial revenue growth but overshadowed by significant profitability and cash flow challenges. Technical indicators suggest a bearish trend, with potential for further downside. Valuation factors also weigh negatively due to ongoing losses and lack of dividends. The company’s strong equity position is a minor positive, but overall financial health remains a concern.

To see Spark’s full report on IXHL stock, click here.

More about Incannex Healthcare Limited Sponsored ADR

Incannex Healthcare Inc. is a clinical-stage biopharmaceutical company focused on developing combination drug therapies for chronic conditions such as obstructive sleep apnea, rheumatoid arthritis, and generalized anxiety disorder. The company’s lead clinical program, IHL-42X, is an oral fixed-dose combination of dronabinol and acetazolamide designed to treat obstructive sleep apnea by targeting its underlying mechanisms.

Average Trading Volume: 55,258,927

Technical Sentiment Signal: Sell

Current Market Cap: $19.5M

For an in-depth examination of IXHL stock, go to TipRanks’ Overview page.