Stonegate Updates Coverage on Incannex Healthcare Inc. (IXHL) 2Q 2025
Incannex Healthcare Inc. (NASDAQ: IXHL) reported its Q2 FY2025 financial results, showing R&D costs of $1.4M, down from $2.6M year-over-year. The decrease resulted from completing the IHL-42X safety and pharmacokinetics trial and shifting resources from the Phase 2 IHL-675A Australia study to a larger U.S. Phase 2 study.
The company recovered 68.3% of R&D costs through a tax incentive of $0.956M. Net loss increased to $5.9M from $5.2M in the same period last year. Notable developments include securing a $50M ELOC financing agreement with Arena Investors and positive top-line results from IHL-42X's pharmacokinetics study, confirming successful drug component delivery. Stonegate Capital Partners' probability-adjusted DCF model suggests a share valuation range of $5.08 to $5.96, with a $5.50 midpoint.
Incannex Healthcare Inc. (NASDAQ: IXHL) ha riportato i risultati finanziari per il secondo trimestre dell'anno fiscale 2025, evidenziando costi di ricerca e sviluppo pari a 1,4 milioni di dollari, in calo rispetto ai 2,6 milioni di dollari dell'anno precedente. La diminuzione è stata causata dal completamento della sperimentazione di sicurezza e farmacocinetica dell'IHL-42X e dal trasferimento di risorse dallo studio di Fase 2 IHL-675A in Australia a uno studio di Fase 2 più ampio negli Stati Uniti.
L'azienda ha recuperato il 68,3% dei costi di R&D tramite un incentivo fiscale di 0,956 milioni di dollari. La perdita netta è aumentata a 5,9 milioni di dollari rispetto ai 5,2 milioni di dollari dello stesso periodo dell'anno scorso. Sviluppi significativi includono la stipula di un accordo di finanziamento ELOC di 50 milioni di dollari con Arena Investors e risultati positivi della sperimentazione farmacocinetica dell'IHL-42X, che confermano la riuscita consegna del componente del farmaco. Il modello DCF aggiustato per probabilità di Stonegate Capital Partners suggerisce un intervallo di valutazione delle azioni tra 5,08 e 5,96 dollari, con un punto medio di 5,50 dollari.
Incannex Healthcare Inc. (NASDAQ: IXHL) reportó sus resultados financieros del segundo trimestre del año fiscal 2025, mostrando costos de I+D de 1,4 millones de dólares, una disminución respecto a los 2,6 millones de dólares del año anterior. La disminución se debió a la finalización del ensayo de seguridad y farmacocinética del IHL-42X y al traslado de recursos del estudio de Fase 2 IHL-675A en Australia a un estudio de Fase 2 más grande en EE. UU.
La compañía recuperó el 68,3% de los costos de I+D a través de un incentivo fiscal de 0,956 millones de dólares. La pérdida neta aumentó a 5,9 millones de dólares desde 5,2 millones de dólares en el mismo periodo del año pasado. Los desarrollos notables incluyen la obtención de un acuerdo de financiamiento ELOC de 50 millones de dólares con Arena Investors y resultados positivos de la prueba farmacocinética del IHL-42X, confirmando la entrega exitosa del componente del fármaco. El modelo DCF ajustado por probabilidad de Stonegate Capital Partners sugiere un rango de valoración de acciones de 5,08 a 5,96 dólares, con un punto medio de 5,50 dólares.
Incannex Healthcare Inc. (NASDAQ: IXHL)는 2025 회계연도 2분기 재무 결과를 발표하였으며, 연구 및 개발 비용이 140만 달러로 작년 동기 260만 달러에서 감소하였음을 보여주었습니다. 감소는 IHL-42X 안전성 및 약물 동태 시험을 완료하고, 자원을 호주에서 진행 중인 IHL-675A 2상 연구에서 더 큰 미국 2상 연구로 전환한 데서 비롯되었습니다.
회사는 95만 6천 달러의 세금 인센티브를 통해 연구 및 개발 비용의 68.3%를 회수했습니다. 순손실은 작년 같은 기간의 520만 달러에서 590만 달러로 증가했습니다. 주요 발전 사항으로는 Arena Investors와의 5천만 달러 ELOC 금융 계약 체결과 IHL-42X의 약물 동태 연구에서 긍정적인 주요 결과가 확인되어 약물 성분 전달의 성공을 입증했습니다. Stonegate Capital Partners의 확률 조정 DCF 모델은 주식 가치 범위를 5.08에서 5.96달러로 제시하며, 중간값은 5.50달러입니다.
Incannex Healthcare Inc. (NASDAQ: IXHL) a annoncé ses résultats financiers pour le deuxième trimestre de l'exercice 2025, affichant des coûts de R&D de 1,4 million de dollars, en baisse par rapport à 2,6 millions de dollars l'année précédente. Cette baisse résulte de l'achèvement de l'essai de sécurité et de pharmacocinétique de l'IHL-42X et de la réallocation de ressources de l'étude de phase 2 IHL-675A en Australie vers une étude de phase 2 plus vaste aux États-Unis.
L'entreprise a récupéré 68,3 % de ses coûts de R&D grâce à un incitatif fiscal de 0,956 million de dollars. La perte nette a augmenté à 5,9 millions de dollars contre 5,2 millions de dollars au cours de la même période l'année précédente. Parmi les développements notables, on trouve la conclusion d'un accord de financement ELOC de 50 millions de dollars avec Arena Investors et des résultats positifs de l'étude de pharmacocinétique de l'IHL-42X, confirmant la livraison réussie du composant du médicament. Le modèle DCF ajusté en fonction de la probabilité de Stonegate Capital Partners suggère une fourchette d'évaluation des actions de 5,08 à 5,96 dollars, avec un point médian de 5,50 dollars.
Incannex Healthcare Inc. (NASDAQ: IXHL) hat seine finanziellen Ergebnisse für das zweite Quartal des Geschäftsjahres 2025 veröffentlicht, die F&E-Kosten von 1,4 Millionen Dollar zeigen, ein Rückgang von 2,6 Millionen Dollar im Vergleich zum Vorjahr. Der Rückgang resultierte aus dem Abschluss der Sicherheits- und Pharmakokinetikstudie IHL-42X und der Verlagerung von Ressourcen von der Phase-2-Studie IHL-675A in Australien zu einer größeren Phase-2-Studie in den USA.
Das Unternehmen hat 68,3% der F&E-Kosten durch einen Steueranreiz in Höhe von 0,956 Millionen Dollar zurückgewonnen. Der Nettoverlust stieg auf 5,9 Millionen Dollar von 5,2 Millionen Dollar im gleichen Zeitraum des Vorjahres. Zu den bemerkenswerten Entwicklungen gehört die Sicherstellung einer 50 Millionen Dollar ELOC Finanzierungsvereinbarung mit Arena Investors und positive Ergebnisse der Pharmakokinetikstudie von IHL-42X, die die erfolgreiche Abgabe des Arzneimittelbestandteils bestätigt. Das wahrscheinlichkeit-adjustierte DCF-Modell von Stonegate Capital Partners deutet auf einen Aktienbewertungsbereich von 5,08 bis 5,96 Dollar hin, mit einem Mittelwert von 5,50 Dollar.
- Secured $50M ELOC financing agreement with Arena Investors
- Positive top-line results from IHL-42X pharmacokinetics study
- 68.3% R&D cost recovery through tax incentive ($0.956M)
- Reduced R&D costs by 46% YoY ($1.4M vs $2.6M)
- Net loss increased to $5.9M from $5.2M YoY
Insights
The Q2 2025 financial results reveal a strategically managed R&D reorganization at Incannex Healthcare. The $1.2M reduction in R&D spending reflects a calculated pivot from the Australian IHL-675A study to a more substantial U.S. Phase 2 trial, rather than a cost-cutting measure. This geographic shift potentially positions the company for broader market access and regulatory pathways.
The company's financial efficiency is evident in their successful recovery of 68.3% of R&D costs through tax incentives, effectively reducing the net R&D burden to
The positive pharmacokinetics study results for IHL-42X represent a important technical validation, confirming proper drug delivery and bioavailability - essential factors for future FDA submissions and commercial viability. This milestone reduces development risk and strengthens the company's clinical pipeline value proposition.
Stonegate's valuation model suggesting a
Dallas, Texas--(Newsfile Corp. - February 18, 2025) - Incannex Healthcare Inc. (NASDAQ: IXHL): Stonegate Capital Partners updates their coverage on Incannex Healthcare Inc. (NASDAQ: IXHL). During the second quarter of fiscal year 2025, Incannex Healthcare Inc. reported R&D costs of
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
- Incannex secured a strategic financing agreement with Arena Investors, which includes a
$50M ELOC with Arena Business Solutions. - IHL-42X had positive top-line results from a pharmacokinetics(PK) and safety study. The study demonstrated the bioavailability of IHL-42X, confirming the delivery of both drug components.
- When we use a probability adjusted DCF model, it returns an estimated share valuation range of
$5.08 t o$5.96 with a midpoint of$5.50 .
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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
Contacts:
Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com
Source: Stonegate, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241380
FAQ
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