Stonegate Capital Partners has updated its coverage on Incannex Healthcare Inc. (NasdaqGM:IXHL), focusing on the company's progress in developing IHL-42X for obstructive sleep apnea (OSA). The update follows the full Phase 2 RePOSA data and exit-interview analyses, which showed both low and high-dose IHL-42X achieved statistically significant reductions in Apnea-Hypopnoea Index (AHI) versus placebo, with maximum AHI reductions of up to 83% in the high-dose arm.
Exit interviews revealed that 57.6% of participants reported perceived 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. The U.S. Food and Drug Administration (FDA) has granted Fast Track designation for IHL-42X, which may expedite its development and review.
Incannex reported $68.9 million in cash and cash equivalents, providing a strong financial runway to advance its pipeline. Additionally, the company reported positive Phase 2 results for PSX-001, another candidate in its portfolio. These developments underscore Incannex's commitment to addressing unmet medical needs in sleep apnea and other conditions.
Stonegate Capital Partners, a leading capital markets advisory firm, provides investor relations, equity research, and institutional investor outreach services. Its affiliate, Stonegate Capital Markets (member FINRA), offers investment banking services for public and private companies.
For more details, see the full announcement here.
