Incannex surges as anxiety disorder drug succeeds in mid-stage study

Incannex Healthcare

28/02/2024 14:28

** Shares of cannabinoid drug developer Incannex Healthcare
 IXHL.O  rise ~82% to $7.66 premarket
    ** Company says its experimental therapy being tested to
treat generalized anxiety disorder (GAD) significantly reduced
severity of anxiety symptoms in a mid-stage study
    **  GAD is a mental health disorder characterized by
excessive, persistent and unrealistic worry about everyday
things
    ** The therapy uses a psychedelic compound called psilocybin
    ** The study was conducted in 73 patients for a period of 7
weeks - IXHL
    ** Company has planned a follow-up mid-stage study to be
conducted at multiple sites in U.S. and UK
    ** Up to last close, stock down 56% in the last 12 months

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))