Thu, May 15, 11:32 AM (65 days ago)
**Incannex Healthcare Inc. (IXHL) Q1 2025 Financial Summary** **Financial Health:** - **Cash Position:** $6.7 million in cash and cash equivalents as of March 31, 2025, an increase of $0.8 million from June 30, 2024. - **Total Assets:** $16.2 million, down from $17.0 million. - **Total Liabilities:** $8.8 million, up from $5.8 million. - **Stockholders' Equity:** $7.4 million, down from $11.2 million. **Performance Metrics:** - **Revenue:** No revenue for Q1 2025, with a minor $86,000 for the nine months. - **Operating Expenses:** $5.0 million for Q1 2025, down 33% from Q1 2024. Nine-month expenses were $16.3 million, down 19%. - **Net Loss:** $3.97 million for Q1 2025, a 35% decrease from Q1 2024. Nine-month net loss was $15.3 million, up 25%. - **Profit Margins:** Negative, with significant operating losses. - **Cash Flow:** Negative $11.0 million from operations for the nine months, a $1.2 million improvement. **Earnings Changes:** - **R&D Expenses:** Decreased by $0.5 million for Q1 and $1.5 million for nine months due to completed trials and reallocation of resources. - **General & Administrative Expenses:** Decreased by $1.9 million for Q1 and $2.5 million for nine months, primarily due to reduced employee benefits. **Trends & Uncertainties:** - **Going Concern:** Substantial doubt about the ability to continue as a going concern due to negative cash flows and uncertainty in generating sufficient cash. - **Funding:** Plans to address financial condition through equity sales, debt financings, or strategic transactions. - **Clinical Trials:** Focus on IHL-42X (OSA), PSX-001 (GAD), and IHL-675A (rheumatoid arthritis) with potential regulatory pathways in the U.S. **Future Operations Impact:** - **Expansion:** Plans to increase headcount and prepare for potential commercialization. - **Regulatory:** Uncertainties in regulatory approvals and market acceptance. - **Financial:** Need for additional funding to sustain operations and development activities. **Key Financial Ratios (Q1 2025):** - **Current Ratio:** 1.44 (Current Assets / Current Liabilities) - **Quick Ratio:** 1.27 (Liquid Assets / Current Liabilities) - **Loss per Share:** $0.20 (Basic and Diluted) **Ticker:** IXHL **Note:** Amounts are in thousands, except per share data.