Incannex updates on IHL-42X dosing, new patent, and $70 million cash position

Incannex Healthcare Inc. issued a corporate update on September 9, 2026, covering clinical, patent, and financial developments for its lead programs.

The company confirmed that patient dosing had commenced in DReAMzz, a Phase 2 crossover dose-optimization study of IHL-42X in patients with obstructive sleep apnea, first announced August 25, 2026.¹ The trial is running at 13 clinical trial sites in the United States, each of which has received Institutional Review Board approval.¹ Its purpose is to refine the dosing profile of IHL-42X and inform the design of a subsequent Phase 3 registration program.¹ The protocol was developed with input from the company's Obstructive Sleep Apnea Clinical Advisory Board and was reviewed by the FDA, with agency feedback incorporated into the final design.¹

This builds on the earlier RePOSA Phase 2 trial, which enrolled 121 subjects across 16 U.S. sites and reported positive topline results in August 2025.¹ In that study, both the low-dose and high-dose IHL-42X groups showed statistically significant reductions versus placebo in the apnea-hypopnea index and the oxygen desaturation index, with some individual patients seeing apnea-hypopnea index reductions of up to 83 percent.¹ Separately, the FDA granted Fast Track designation to IHL-42X in December 2025.¹

On intellectual property, the USPTO granted Incannex a patent on June 25, 2026, titled "Compositions and Methods of Treatment for Obstructive Sleep Apnea," covering the IHL-42X composition and associated treatment methods, with a baseline expiry of July 9, 2040.¹

On finances, the company said it held approximately $70 million in cash and cash equivalents with no debt as of August 31, 2026.¹ It also noted it had received more than A$11.2 million in non-dilutive funding during 2026 through Australia's Research and Development Tax Incentive program, split between a A$6.0 million refund tied to fiscal year 2025 disclosed in June 2026 and an additional A$5.1 million refund announced in August 2026.¹