Incannex Healthcare jumps after FDA fast-tracks sleep disorder drug

Incannex Healthcare

03/12/2025 14:02

** Shares of drug developer Incannex Healthcare IXHL.O rise 20.7% to $0.48 premarket

** Co says U.S. FDA granted fast track status to experimental drug IHL-42X for obstructive sleep apnea, a disorder causing breathing pauses during sleep

** Drug is an oral combination therapy, co says

** Co says FDA decision based on positive results from three trials, including mid-stage study showing fewer breathing interruptions during sleep

** U.S. FDA's "fast track" tag aims to speed development and review of drugs for serious conditions with unmet medical needs

** IXHL says it is also developing drugs for rheumatoid arthritis and anxiety disorders

** Up to last close, stock was down ~81% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))