I
Incannex Healthcare Inc.
IXHLCIK 0001873875NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareAUFY ends Jun 30
Period
FY 2025
Revenue
—
Net Income
$-46.88M
Total Assets
$20.45M
Equity
$13.39M
Shares Out
358.33M
Op. Cash Flow
$-12.50M
Business
Incannex Healthcare Inc. is a clinical-stage biopharmaceutical company developing novel therapeutics for serious chronic diseases with unmet needs. Its main products include IHL-42X, an oral fixed‑dose combination of dronabinol and acetazolamide for obstructive sleep apnea; PSX-001, an oral synthetic psilocybin treatment administered with structured psychotherapy for generalized anxiety disorder; and IHL-675A, an oral CBD and hydroxychloroquine fixed‑dose combination for inflammatory conditions including rheumatoid arthritis. The company organizes around clinical development programs, regulatory and manufacturing collaborations, and commercialization planning, and conducts trials and operations principally in Australia and the United States while pursuing approvals and market expansion in the U.S., European Union, United Kingdom, Japan, Australia and Canada.
Summary from filing dated 2025-09-29
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 |
|---|---|---|---|---|
| Revenue from customers | 86,000 | 12,000 | — | |
| Research and development | −11 | −13 | −6 | |
| General and administrative | −13 | −17 | −8 | |
| Total operating expenses | −24 | −30 | −50 | |
| Loss from operations | −24 | −30 | −50 | |
| R&D tax incentive | 2 | 11 | 683,000 | |
| Foreign exchange expense | −289,000 | −28,000 | −67,000 | |
| Interest expense | −303,000 | — | — | |
| Interest income | 62,000 | 206,000 | 241,000 | |
| Change in fair value of convertible rights | 299,000 | — | — | |
| Change in fair value of warrant liabilities | −22 | — | — | |
| Warrant issuance costs | −129,000 | — | — | |
| Loss on extinguishment | −1 | — | — | |
| ELOC commitment fee | −1 | — | — | |
| Total other income, net | −23 | 12 | 857,000 | |
| Loss before income tax expense | −47 | −18 | −49 | |
| Income tax expense | — | −30,000 | — | |
| Net loss | −47 | −18 | −49 | |
| Currency translation adjustment, net of tax | 208,000 | −77,000 | −2 | |
| Total comprehensive loss | −47 | −19 | −51 | |
| Net loss per share: Basic (in Dollars per share) | −1.35 | −1.15 | −3.32 | |
| Net loss per share: diluted (in Dollars per share) | −1.35 | −1.15 | −3.32 | |
| Weighted average number of shares outstanding, basic (in Shares) | 34 | 16 | 15 | |
| Weighted average number of shares outstanding, diluted (in Shares) | 34 | 16 | 15 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 15 | 6 | 22 | — | |
| Prepaid expenses and other assets | 791,000 | 507,000 | 877,000 | — | |
| R&D tax incentive receivable | 4 | 10 | — | — | |
| Total current assets | 20 | 16 | 23 | — | |
| Property, plant and equipment, net | 227,000 | 472,000 | 294,000 | — | |
| Operating lease right-of-use assets | 258,000 | 373,000 | 492,000 | — | |
| Total assets | 20 | 17 | 24 | — | |
| Trade and other payables | 6 | 612,000 | 689,000 | — | |
| Accrued expenses and other current liabilities | 696,000 | 5 | — | — | |
| Operating lease liabilities, current | 184,000 | 163,000 | 113,000 | — | |
| Total current liabilities | 7 | 6 | 3 | — | |
| Operating lease liabilities, non-current | 74,000 | 210,000 | 408,000 | — | |
| Total liabilities | 7 | 6 | 3 | — | |
| Commitments and contingencies (Note 8) | — | — | — | — | |
| Common stock, $0.0001 par value 800,000,000 shares authorized; 194,379,996 and 17,642,832 shares issued and outstanding at June 30, 2025 and 2024, respectively | 20,000 | 2,000 | 2,000 | — | |
| Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized; no shares issued or outstanding at June 30, 2025 and 2024, respectively | — | — | — | — | |
| Additional paid-in capital | 174 | 125 | 116 | — | |
| Accumulated deficit | −158 | −111 | −92 | — | |
| Foreign currency translation reserve | −3 | −3 | −3 | — | |
| Total stockholders equity | 13 | 11 | 21 | 25 | |
| Total liabilities and stockholders equity | 20 | 17 | 24 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 |
|---|---|---|---|---|
| Depreciation and amortization | 246,000 | 103,000 | 88,000 | |
| Stock-based compensation expense | 3 | 9 | 2 | |
| Unrealized losses/(gains) on foreign currency remeasurement | 294,000 | 28,000 | — | |
| Non-cash expense of ELOC commitment | 1 | — | — | |
| Non-cash interest expense | 302,000 | — | — | |
| Prepaid expenses and other current assets | −189,000 | 369,000 | −626,000 | |
| R&D tax incentive receivable | 6 | −10 | — | |
| Trade and other payables | 1 | 3 | — | |
| Net cash used in operating activities | −13 | −16 | −11 | |
| Purchase of property, plant and equipment | −8,000 | −277,000 | −316,000 | |
| Net cash used in investing activities | −8,000 | −277,000 | −316,000 | |
| Proceeds received from facility agreement | 4 | — | — | |
| Repayment of facility agreement | −4 | — | — | |
| Proceeds share issuance | 48 | — | 8 | |
| Share issuance costs | −747,000 | — | — | |
| Warrant issuance costs | −125,000 | — | — | |
| Proceeds from issuance of convertible debt | 3 | — | — | |
| Cancellation of warrants | −25 | — | — | |
| Repayment of convertible debt | −4 | — | — | |
| Debt issuance costs | −113,000 | — | — | |
| Net cash provided by financing activities | 21 | — | 8 | |
| Effect of exchange rate changes on cash and cash equivalents | 306,000 | −140,000 | −824,000 | |
| Net (decrease)/increase in cash and cash equivalents | 9 | −16 | −3 | |
| Issuance of ELOC warrants at initial fair value | 806,000 | — | — | |
| Issuance of convertible note warrants at initial fair value | 341,000 | — | — | |
| Issuance of convertible rights at initial fair value | 282,000 | — | — | |
| Issuance of Series A warrants at initial fair value | 3 | — | — | |
| Partial conversion of convertible note | 100,000 | — | — | |
| Total | 4 | — | — |
Filings
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