Positive results from Incannex Healthcare Ltd (ASX:IHL, NASDAQ:IXHL) ’s ongoing Australian Phase II Psi-GAD1 study would represent a significant catalyst for the company, according to Edison Investment Research. It is estimated that around 6.8 million US adults (~3% of the US population) suffer from GAD (generalised anxiety disorder), representing a significant patient population. Edison expects management to use the results of the Psi-GAD1 trial, assuming they are positive, to support potential Phase II FDA-approved studies in FY23. The investment research firm continues to value Incannex at US$736.6 million or US$11.7 per ADR, including the issued shares from the A$13 million private placement in December 2022. Incannex ADRs are currently trading at US$3.5 per ADR. The following is an extract from the research update: Following continued patient enrolment in Incannex’s ongoing Australian Phase II Psi-GAD1 study (ACTRN12621001358831), management has announced the commencement of an independent analysis of the interim data. The company expects the interim results from the study of psilocybin-assisted psychotherapy in generalised anxiety disorder (GAD) to be reported in March 2023. In our view, positive results would represent a significant catalyst for Incannex, considering the large GAD patient population (c 6.8 million US adults), lack of consistently effective […]
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