IXHL - Incannex adds over 19% with positive data for sleep apnea candidate

Australia-based developer of medicinal cannabinoids Incannex Healthcare (NASDAQ:IXHL) has added ~20% in the pre-market Friday after the company announced favorable results from a Phase 2 proof-of-concept clinical trial for IHL-42X, an experimental drug for obstructive sleep apnoea. The trial designed to IHL-42X versus placebo cut the primary endpoint apnoea hypopnea index (AHI) – a key measure to diagnose and monitor OSA – relative to baseline for all three doses, the company said. Notably, the difference from baseline was found to be statistically significant (p<0.05) with low dose and medium doses. With an average AHI decline of ~51% and a lower number of total treatment emergent adverse events compared to placebo, low dose IHL-42X was superior in terms of both efficacy and safety, the company added. Incannex (IXHL) drew a Hold rating from Seeking Alpha contributor Donavan Jones ahead of its public debut early this year.

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Incannex adds over 19% with positive data for sleep apnea candidate