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Thursday, May 19, 2022

Acquisition of APIRx Pharmaceuticals: Incannex Healthcare Ltd. (IXHL) Stock Rising Premarket.

Incannex Healthcare Ltd. (IXHL) is an early-stage biotherapeutics growth company engaged in the manufacture of novel medicinal cannabis therapeutics and psychedelic medicines for treating anxiety disorders, obstructive sleep apnoea, traumatic brain injury, lung inflammation, rheumatoid arthritis, and inflammatory bowel disease. The company has a strong patent filing policy as it manufactures its therapeutics in combination with medical and scientific partners.


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IXHL stock price during the regular trading session of March 23, 2022, was $11.78. Its price rocketed as of the writing in the premarket session of March 24, 2022, by 25%.

IXHL: Events and Happenings

On March 24, 2022, IXHL announced the execution of a term sheet with binding commercial conditions to purchase APIRx Pharmaceutical, LLC subject to the approval of stockholders. APIRx is the manufacturer of cannabinoid medicines and the acquisition brings a diverse portfolio of promising therapeutic candidates to the company.

On March 10, 2022, IXHL updated that it completed the initial data analysis from phase 2, clinical trials of IHL-42X, for treating OSA. The trials evaluated its three doses at reducing the AHI, which is the chief diagnostic and monitoring standard for OSA.

On March 3, 2022, IXHL reported the execution of a licensing contract with Monash University for the development of an innovative treatment that merges Virtual Reality and psychedelics. This marked the commencement of a second clinical psychedelic therapeutics portfolio.

On February 28, 2022, IXHL stated the commencement of the trading of its American Depositary Shares which represent its ordinary shares on the Nasdaq Global Market under the ticker symbol IXHL. Each ADS represented its 25 ordinary shares.

Conclusion

IXHL stock dipped by 20% from the commencement of the trading of its shares on the NASDAQ. Currently, its stock is improving in the premarket session as the company announced the acquisition of APIRx Pharmaceuticals. Its stock instantly rocketed after the news was released from the company. The company has not reported the financials on its official website.

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