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Incannex Healthcare (NASDAQ: IXHL)

Last close As at 20/11/2024

USD0.97

▲ −0.11 (−10.19%)

Market capitalisation

62m

Latest Insights

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Healthcare | Update

Incannex Healthcare — Spotlight on Incannex’s progress in psychedelics

Healthcare | Flash note

Incannex Healthcare — On the road to psychotherapy clinics

Healthcare | Flash note

Incannex Healthcare — On to Phase II for IHL-675A

Healthcare | Flash note

Incannex Healthcare — A clinically active quarter
incannex07
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Sector

Healthcare

Balance Sheet

Forecast net cash (A$m)

29.6

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (3.0) (36.3) (76.2)
Relative (12.3) (38.0) (79.3)
52 week high/low US$4.0/US$0.8

Financials

Incannex, an Australian-based biotech, has several active studies investigating cannabinoid combinations for a range of conditions, but is also focused on assessing psilocybin for the treatment of generalized anxiety disorder (GAD). In the psychedelics space, Incannex’s ongoing Phase II trial (Psi-GAD) received an encouraging interim review in March 2023, and we see the completion of the study in Q4 CY23 as a significant catalyst. Incannex has also recently announced developments in its psychedelic clinics business through its subsidiary Clarion Clinics Group. In this note, we provide an overview of psychedelics as therapeutics, the GAD market, and Incannex’s position in the emerging field of psychedelic-based therapies. Our valuation for Incannex stands at US$750.7m or US$11.83 per ADR (vs US$745.8m or US$11.75 per ADR previously).

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 2.0 N/A (8.2) (0.83) N/A N/A
2022A 0.8 N/A (14.9) (1.25) N/A N/A
2023E 0.1 N/A (20.7) (1.43) N/A N/A
2024E 0.1 N/A (33.4) (2.10) N/A N/A

Research

Update

Healthcare

Incannex Healthcare — Expanding base with A$13m private placement

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Healthcare

Incannex Healthcare: Disrupting the obstructive sleep apnoea space with IHL-42
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Healthcare

Flash note

Incannex Healthcare — Progressing the opportunity in anxiety treatment

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Further insights

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Incannex’s US redomicile is now complete – what’s next?

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Incannex Healthcare: Is life better on Nasdaq?
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Incannex Healthcare: Data opens path to treat anxiety

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Healthcare

Healthcare Week 2023
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Incannex Healthcare: Disrupting the obstructive sleep apnoea space with IHL-42X

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Seven things every investor needs to know about Incannex Healthcare

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ASCO 2017

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Edison healthcare quarterly: A boost for allergy immunotherapy

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Energy & Resources

ASX Spotlight Conference – London, 6 March 2014

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ASX Small to Mid Caps Conference – London, 7 March 2013

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Edison healthcare quarterly: Boom times for US biotech

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Edison healthcare quarterly: How to please some of the people some of the time