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The latest update is out from InhaleRx Limited ( (AU:NX1) ).
Nexalis Therapeutics has received clearance from its independent Safety Review Committee to advance to the third and final dosing cohort in its Phase 1 trial of IRX-616a, an inhaled cannabidiol formulation being tested in healthy volunteers. The randomised, double-blind, placebo-controlled study at CMAX Adelaide is designed to characterise the drug’s pharmacokinetics, safety and tolerability profile, with dosing of the last participant expected by the end of June 2026.
IRX-616a is being developed for rapid relief of acute panic and anxiety episodes, targeting a major unmet need where existing treatments often act too slowly in a global anxiety and depression market projected to exceed $13 billion. Progression to the final cohort marks a key clinical milestone for Nexalis, supporting its broader strategy to build evidence for its rapid-onset inhaled delivery platform and to create economic upside for shareholders by addressing conditions where current therapies carry limitations, including dependency concerns.
More about InhaleRx Limited
Nexalis Therapeutics Ltd is an Australian clinical-stage drug development company focused on rapid-onset therapies for pain management and mental health. Its pipeline includes IRX-211 for breakthrough cancer pain, IRX-616a for panic disorder and SRX-25 for treatment-resistant depression, targeting U.S. FDA approval via accelerated regulatory pathways and aiming to tap a multibillion-dollar market.
Average Trading Volume: 187,523
Technical Sentiment Signal: Sell
Current Market Cap: A$5.31M
Learn more about NX1 stock on TipRanks’ Stock Analysis page.