10:42 AM EDT, 05/14/2025 (MT Newswires) -- Incannex Healthcare ( IXHL ) said Wednesday it has completed patient dosing in the phase 2 portion of its phase 2/3 study of IHL-42X in obstructive sleep apnea.

Incannex shares rallied more than 700% in recent trading.

The company said it expects to conclude end-of-study follow-up assessments by May 17, with topline data anticipated in July.

Incannex also said it is preparing for a meeting with the US Food and Drug Administration ahead of the data readout to discuss results and steps toward a new drug application submission.

The company said phase 3 trial planning is underway and will be conducted at US sites to improve operational efficiency.

Incannex said it has started to engage in preliminary commercial discussions amid "growing interest" in the IHL-42X program.

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