The score is primarily held down by weak financial performance (volatile revenue, persistent large losses, negative operating/free cash flow, and negative equity). Technicals add additional pressure with a negative MACD and price below longer-term moving averages, while valuation is difficult to justify given the negative P/E and no dividend support.
Positive Factors
Low leverage
Absolute debt levels are very small (~34k) which limits interest burden and reduces refinancing pressure. Low financial leverage gives the company structural flexibility to prioritize operational stabilization or raise equity without immediate debt servicing constraints, helping medium-term resilience.
Negative Factors
Volatile, shrinking revenue
A 62% YoY revenue decline and prior volatility indicate an unstable commercial base and weak demand predictability. Structural revenue instability undermines scaling, makes long-term planning difficult, and increases reliance on one-off sales or funding to cover fixed costs and product development.
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Positive Factors
Negative Factors
Low leverage
Absolute debt levels are very small (~34k) which limits interest burden and reduces refinancing pressure. Low financial leverage gives the company structural flexibility to prioritize operational stabilization or raise equity without immediate debt servicing constraints, helping medium-term resilience.
Read all positive factors
InhaleRx Limited (NX1) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$4.30M
Dividend YieldN/A
Average Volume (3M)66.75K
Price to Earnings (P/E)―
Beta (1Y)0.11
Revenue GrowthN/A
EPS Growth-55.00%
CountryAU
EmployeesN/A
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding253,037,320
10 Day Avg. Volume164,400
30 Day Avg. Volume66,745
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)-116.78
Price to Sales (P/S)22.29
P/FCF Ratio-20.26
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
InhaleRx Limited Business Overview & Revenue Model
Company Description
InhaleRx Limited engages in the developing and commercializing of medical drug delivery systems in Australia. It also develops inhaled drug formulations. Its solutions include Medihale inhaler, a sealed pod inhaler for use with inhaled formulation...
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How the Company Makes Money
InhaleRx Limited generates revenue primarily through the sale of its inhalation products, which are distributed to healthcare providers and pharmacies. The company may also engage in strategic partnerships with pharmaceutical firms to co-develop o...
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InhaleRx Limited Financial Statement Overview
Summary
Financials indicate high risk: revenue is highly volatile with a sharp 62% YoY decline in 2024, losses remain very large versus revenue (net margin about -381% in 2024), cash flow is consistently negative, and stockholders’ equity turned negative in 2024 despite modest debt.
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
16
Very Negative
Breakdown
Income Statement
Total Revenue
Gross Profit
EBITDA
Net Income
Balance Sheet
Total Assets
Cash, Cash Equivalents and Short-Term Investments
Total Debt
Total Liabilities
Stockholders Equity
Cash Flow
Free Cash Flow
Operating Cash Flow
Investing Cash Flow
Financing Cash Flow
InhaleRx Limited Technical Analysis
Technical Analysis Sentiment
Negative
Last Price0.02
Price Trends
50DMA
0.02
Negative
100DMA
0.02
Negative
200DMA
0.03
Negative
Market Momentum
MACD
>-0.01
Negative
RSI
41.31
Neutral
STOCH
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NX1, the sentiment is Negative. The current price of 0.02 is equal to the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.03, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 41.31 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NX1.
InhaleRx Shareholders Back Capital Resolutions and Rebrand to Nexalis Therapeutics
Jan 29, 2026
InhaleRx Limited has secured strong shareholder backing at its 29 January general meeting, with all eight resolutions passed by poll, including the ratification of prior share issues, approvals for additional placement securities and options under...
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InhaleRx Sets January 2026 Online General Meeting to Vote on Eight Resolutions
Jan 29, 2026
InhaleRx Limited has scheduled a general meeting for shareholders to be held online at 4:00pm AEDT on Thursday, 29 January 2026. The meeting will cover eight resolutions to be decided by poll, with procedures outlined for virtual attendees to rais...
InhaleRx reported progress across its clinical portfolio for the quarter ended 31 December 2025, underpinned by fresh funding and preparation for key trials. The company raised $857,730 through a placement and entitlement offer to support operatin...
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InhaleRx Narrows Cash Burn Through New Equity and Debt Funding in December Quarter
Jan 29, 2026
InhaleRx Limited reported its quarterly cash flow for the period ended 31 December 2025, showing net operating cash outflows of A$628,000 for the quarter and A$899,000 year-to-date, largely driven by research and development and administrative exp...
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InhaleRx Completes Tranche 1 of Capital Raising With $600,000 Secured
Jan 8, 2026
InhaleRx Limited has completed the first tranche of its equity placement, receiving a final $172,500 and issuing 6.9 million ordinary shares at $0.025 each, bringing total funds raised under Tranche 1 to $600,000 before costs as part of a broader ...
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InhaleRx Sets January 2026 Online-Only General Meeting for Shareholders
Dec 24, 2025
InhaleRx Limited has called an online-only general meeting of shareholders for 4:00pm AEDT on 29 January 2026, with investors able to watch, ask questions and vote via a virtual platform. The company is urging shareholders to pre-register for the ...
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InhaleRx Sets January 2026 Virtual Meeting to Approve Capital Moves and Rebrand to Nexalis Therapeutics
Dec 24, 2025
InhaleRx Limited has issued a proxy voting form and instructions for shareholders ahead of its general meeting scheduled for 4:00pm (AEDT) on Thursday, 29 January 2026, to be held virtually. The materials outline how shareholders can appoint proxi...
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InhaleRx Calls January 2026 Meeting to Ratify and Expand Equity Placements
Dec 24, 2025
InhaleRx Limited has called a virtual general meeting of shareholders for 29 January 2026 to consider a series of capital-raising related resolutions. The agenda includes ratification of prior share issues and Tranche 1 placement shares, approval ...
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InhaleRx Director Increases Indirect Stake via Entitlement Offer
Dec 24, 2025
InhaleRx Limited has disclosed a change in the indirect interests of director Dr Ronald Wise following his participation in the company’s recent entitlement offer. Through beneficiary interests in Sassey Pty Ltd entities, Dr Wise acquired 11...
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InhaleRx Director Sean Williams Increases Stake via Entitlement Offer
Dec 24, 2025
InhaleRx Limited has disclosed a change in the indirect holdings of director Sean Williams following his participation in the company’s recent entitlement offer. Williams holds his interests through TG Advisory Pty Ltd as trustee for the Wil...
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InhaleRx Secures $857,730 Through Entitlement Offer and Placement
Dec 23, 2025
InhaleRx has closed its pro-rata non-renounceable entitlement offer, raising $107,730 before costs from applications for 4.3 million new shares and associated options, below the maximum possible amount and leaving a shortfall of approximately $139...
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InhaleRx Issues Over 2.1 Million Unquoted Options Expiring in 2027
Dec 23, 2025
InhaleRx Limited has notified the market of a new issue of unquoted equity securities, consisting of 2,154,603 deferred options (IRXAK) expiring on 22 December 2027. The options, which were previously flagged to the market, are not quoted and are ...
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InhaleRx Seeks ASX Quotation for Over 4.3 Million New Shares
Dec 23, 2025
InhaleRx Limited has applied to the ASX for quotation of 4,309,185 new fully paid ordinary shares under its IRX ticker. The issuance of these securities, previously flagged in an Appendix 3B, will expand the company’s quoted share base and m...
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InhaleRx Expands Share Issuance to Boost Drug Development
Dec 12, 2025
InhaleRx Limited has issued 17,100,000 ordinary shares without disclosure to investors, in compliance with the Corporations Act. This move is part of their strategy to accelerate the development of their inhaled therapies, which could significantl...
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InhaleRx Limited Highlights Focus on Innovative Pain and Mental Health Therapies
Dec 10, 2025
InhaleRx Limited has released a presentation providing summary information about its current activities, emphasizing its focus on innovative therapies for pain management and mental health. The presentation serves informational purposes and cautio...
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InhaleRx Limited Announces Quotation of New Securities on ASX
Dec 8, 2025
InhaleRx Limited has announced the quotation of 17,100,000 fully paid ordinary securities on the ASX, as part of a previously disclosed transaction. This move is expected to enhance the company’s financial flexibility and potentially strengt...
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InhaleRx Limited Raises $427,500 in Initial Share Placement
Dec 8, 2025
InhaleRx Limited has issued 17,100,000 ordinary shares at $0.025 each, raising $427,500 as part of a larger capital raise effort of up to $1,000,000. The placement, managed by Peak Asset Management, involves professional and sophisticated investor...
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InhaleRx Limited Announces Entitlement Offer to Fund Drug Development
Dec 5, 2025
InhaleRx Limited has announced a non-renounceable pro-rata entitlement offer to raise approximately $250,000, offering 1 new share for every 22 shares held at 2.5 cents per share, along with free attaching options. The offer is restricted to share...
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InhaleRx Limited Opens Entitlement Offer to Fund Inhaled Therapies
Dec 5, 2025
InhaleRx Limited has announced the dispatch of its Entitlement Offer Prospectus, opening the offer for subscription to eligible shareholders. The offer is part of the company’s strategy to fund the development of its inhaled therapies, with ...
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InhaleRx Secures $12.6 Million for SRX-25 Development
Dec 3, 2025
InhaleRx Limited has secured an additional $12.6 million in funding from the Linlithgow Family Office to advance the development of its SRX-25 drug, a new oral therapy targeting treatment-resistant depression. This funding will support manufacturi...
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InhaleRx Limited Announces Proposed Issue of Unlisted Options
Nov 26, 2025
InhaleRx Limited has announced a proposed issue of 6,000,000 unlisted options with an exercise price of $0.042, set to expire on December 22, 2027. This strategic move is intended to strengthen the company’s financial position and support it...
InhaleRx Limited announced a proposed issue of securities, including 15 million unlisted options and 30 million ordinary fully paid shares, set to be issued on November 28, 2025. This strategic move is expected to bolster the company’s finan...
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InhaleRx Limited Announces Proposed Securities Issuance to Strengthen Financial Position
Nov 26, 2025
InhaleRx Limited has announced a proposed issuance of securities, including 4,953,367 unlisted options and 9,906,734 ordinary fully paid shares. This move, set to take place in December 2025, is part of a standard pro rata issue, which is non-reno...
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InhaleRx Limited Announces Entitlement Offer to Boost Capital
Nov 26, 2025
InhaleRx Limited has announced a non-renounceable entitlement offer to its eligible shareholders, allowing them to purchase up to 9,906,734 new shares at a price of $0.025 per share. This offer, scheduled to open on December 5, 2025, and close on ...
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InhaleRx Expands Pipeline with New Oral Ketamine Drug for Depression
Nov 26, 2025
InhaleRx Limited has announced the addition of SRX-25, a ketamine-based oral fixed-dose drug, to its development pipeline, targeting treatment-resistant depression (TRD). This new formulation aims to improve patient access and adherence by offerin...
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InhaleRx Limited Initiates Trading Halt for Upcoming Announcement
Nov 24, 2025
InhaleRx Limited has requested a trading halt on its securities pending an announcement related to a new drug development program and associated capital raising. This move is intended to manage the company’s continuous disclosure obligations...
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InhaleRx Limited Issues New Securities to Boost Employee Incentives
Nov 14, 2025
InhaleRx Limited has announced the issuance of 1,000,000 performance rights and 500,000 options as part of its employee incentive scheme. This strategic move is aimed at enhancing employee engagement and aligning their interests with the company&#...
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InhaleRx Aligns CSO Incentives with Key Clinical Trials
Nov 14, 2025
InhaleRx Limited has announced the issuance of performance rights and options to its Chief Scientific Officer, Dr. Rob Jenny, as part of an incentive plan aligned with key deliverables in their ongoing clinical trials for IRX-211 and IRX-616a. Thi...
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 30, 2026