Stonegate Capital Partners has updated its coverage on Incannex Healthcare Inc. (NasdaqGM: IXHL), focusing on the company's progress with IHL-42X for obstructive sleep apnea (OSA). The update comes after Incannex released full Phase 2 RePOSA data and exit-interview analyses, which bolster the clinical and patient-reported evidence for the drug candidate.
Key findings from the Phase 2 trial include statistically significant reductions in Apnea-Hypopnoea Index (AHI) for both low and high-dose IHL-42X compared to placebo. The high-dose arm achieved maximum AHI reductions of up to 83%. Exit interviews revealed that 57.6% of participants perceived an improvement in their OSA, with most describing the change as meaningful to daily life. IHL-42X was well tolerated across both dose cohorts, reinforcing its potential for broad use.
In addition to the clinical data, Incannex has secured fast track approval for IHL-42X from the U.S. Food and Drug Administration, which may expedite its development and review. The company also reported $68.9 million in cash and cash equivalents as of the latest quarter, providing a solid financial runway. Furthermore, positive Phase 2 results for PSX-001, another candidate in Incannex's pipeline, were noted.
Stonegate Capital Partners, a capital markets advisory firm, provides investor relations, equity research, and institutional investor outreach services. The full announcement, including downloadable images and bios, can be accessed here. For more details on the coverage, visit Stonegate's website.
