IXHL
Incannex Healthcare Inc.
NasdaqCMUSDEQUITY
Healthcare
DELAYED
Sell
-41/100
Last price
3.16
▲ 0.02 (0.68%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
3.29
Prev close
3.14
Day high
3.18
Day low
3.13
Volume
5.23K
Market cap
$39.66M
P/E (TTM)
—
52W range
2.49 – 14.91
Day trading desk
Gap from prior close
+3.72%
Prior close 3.17
VWAP
3.15
+0.24% from price
Relative volume
0.05×
Quiet session
Session range
4.93%
3.13 – 3.29
Position in range
18%
Near session low
ATR (14D)
0.16
5.14% of price
Prior day high
3.30
PDH
Prior day low
3.13
PDL
Bid / ask spread
—
Quote not published
Session volume
5.41K
Avg 105.72K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
-2.43%
-3.9%
1M
-6.20%
-7.3%
3M
-6.20%
-9.2%
6M
+16.22%
+1.7%
YTD
-70.57%
-84.1%
1Y
-76.32%
-91.6%
3Y
-97.65%
-178.8%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on IXHL open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
1.48M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Nov 14, 25 | LATHAM JOEL Chief Executive Officer |
STOCK | 22.61M | $0 | Direct |
| Nov 14, 25 | ANASTASSOV GEORGE Director |
STOCK | 1.69M | $0 | Direct |
| Nov 14, 25 | VALENTINE TROY ROBERT Director |
STOCK | 11.30M | $0 | Direct |
| Nov 14, 25 | SWAN JOSEPH Chief Financial Officer |
STOCK | 869.57K | $0 | Direct |
| Nov 14, 25 | SWAN JOSEPH Director |
STOCK | 1.69M | $0 | Direct |
| Nov 14, 25 | WIDDOWS PETER Director |
STOCK | 1.69M | $0 | Direct |
| Oct 23, 24 | SWAN JOSEPH Officer |
STOCK | 100.48K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ANASTASSOV GEORGE |
Director | 2.46M | Stock Award(Grant) |
LATHAM JOEL |
Chief Executive Officer | 24.19M | Stock Award(Grant) |
SWAN JOSEPH |
Chief Financial Officer | 921.36K | Stock Award(Grant) |
VALENTINE TROY ROBERT |
Director | 12.34M | Stock Award(Grant) |
WIDDOWS PETER |
Director | 1.96M | Stock Award(Grant) |
Fundamentals
Market cap$39.66M
Enterprise value$-27.85M
Revenue (TTM)—
Gross profit—
EBITDA$-18.13M
Net income$-19.30M
EPS (TTM)$-1.66
Free cash flow$-9.25M
Total cash$67.71M
Total debt$96.00K
Book value / share$5.37
Shares outstanding12.54M
Float10.18M
Short % of float5.78%
Dividend yield0.00%
Beta (5Y)2.82
Valuation & profitability ratios
Trailing P/E—
Forward P/E-1.86
PEG ratio—
Price / sales—
Price / book0.59
EV / revenue—
EV / EBITDA1.54
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity-47.80%
Return on assets-24.58%
Debt / equity0.14
Current ratio48.81
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | — | $12.00K | $0 | $0 | — |
| Operating revenue | — | $12.00K | $0 | $0 | — |
| Cost of revenue | — | — | $0 | $4.36K | — |
| Gross profit | — | — | $0 | -$4.36K | — |
| Research & development | — | $12.88M | $6.31M | $3.70M | — |
| Selling, general & admin | — | $17.07M | $7.92M | $7.00M | — |
| Total operating expense | — | $18.62M | $13.64M | $10.16M | — |
| Operating income | — | -$18.61M | -$13.64M | -$10.16M | — |
| Net interest income | — | $206.00K | $241.00K | $4.31K | — |
| Pre-tax income | — | -$18.43M | -$48.81M | -$10.25M | — |
| Tax provision | — | $30.00K | $0 | $0 | — |
| Net income | — | -$18.46M | -$48.81M | -$10.25M | — |
| Net income to common | — | -$18.46M | -$48.81M | -$10.25M | — |
| Basic EPS | -40.50 | -34.50 | -1.03 | -1.03 | -17.4% |
| Diluted EPS | -40.50 | -34.50 | -1.03 | -1.03 | -17.4% |
| EBIT | — | -$18.43M | -$13.64M | -$10.16M | — |
| EBITDA | — | -$18.33M | -$13.55M | -$10.16M | — |
| Basic shares | 1.15M | 538.81K | 12.81M | 9.93M | +113.1% |
| Diluted shares | 1.15M | 538.81K | 12.81M | 9.93M | +113.1% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | — | $5.86M | $22.12M | $25.80M | — |
| Cash & short-term investments | — | $5.86M | $22.12M | $25.80M | — |
| Accounts receivable | — | — | $287.48K | — | — |
| Total current assets | — | $16.20M | $23.00M | $26.06M | — |
| Property, plant & equipment | — | $845.00K | $786.00K | $0 | — |
| Goodwill & intangibles | — | — | $34.90M | $0 | — |
| Total assets | — | $17.05M | $23.78M | $26.06M | — |
| Total current liabilities | — | $5.62M | $2.55M | $1.38M | — |
| Total debt | — | $373.00K | $521.00K | $0 | — |
| Total liabilities | — | $5.83M | $2.96M | $1.38M | — |
| Retained earnings | — | -$110.67M | -$92.21M | -$40.45M | — |
| Shareholder equity | — | $11.22M | $20.82M | $24.67M | — |
| Working capital | — | $10.58M | $20.45M | $24.67M | — |
| Net tangible assets | — | $11.22M | $20.82M | $24.67M | — |
| Shares issued | 6.48M | 588.09K | 529.00K | 430.78K | +1,001.8% |
| Line item | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|
| Net income | -$18.46M | -$48.81M | -$10.25M | +62.2% |
| Depreciation & amortisation | $103.00K | $88.00K | $0 | +17.0% |
| Stock-based compensation | $8.93M | $2.15M | $1.01M | +315.4% |
| Change in working capital | -$6.45M | $35.83M | $843.64K | -118.0% |
| Operating cash flow | -$15.85M | -$10.75M | -$8.81M | -47.4% |
| Capital expenditure | -$277.00K | -$316.00K | — | +12.3% |
| Investing cash flow | -$277.00K | -$316.00K | $0 | +12.3% |
| Financing cash flow | $0 | $8.18M | $28.33M | -100.0% |
| Free cash flow | -$16.12M | -$11.06M | -$8.81M | -45.7% |
| End cash position | $5.86M | $22.12M | $25.80M | -73.5% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | — |
| Operating revenue | $0 | $0 | $0 | $0 | — |
| Research & development | $321.00K | $2.28M | $1.12M | $2.73M | -85.9% |
| Selling, general & admin | $3.73M | $4.71M | $5.67M | $2.27M | -21.0% |
| Total operating expense | $3.97M | $6.51M | $6.41M | $4.58M | -39.1% |
| Operating income | -$3.97M | -$6.51M | -$6.41M | -$4.58M | +39.1% |
| Net interest income | -$278.00K | $5.00K | $5.00K | -$257.00K | -5,660.0% |
| Pre-tax income | -$3.88M | -$6.52M | -$6.41M | -$3.97M | +40.5% |
| Tax provision | $0 | — | $0 | $0 | — |
| Net income | -$3.88M | -$6.52M | -$6.41M | -$3.97M | +40.5% |
| Net income to common | -$3.88M | -$6.52M | -$6.41M | -$3.97M | +40.5% |
| Basic EPS | -0.35 | -0.60 | -0.60 | -6.19 | +41.7% |
| Diluted EPS | -0.35 | -0.60 | -0.60 | -6.19 | +41.7% |
| EBIT | -$3.88M | -$6.52M | -$6.41M | -$3.84M | +40.5% |
| EBITDA | -$3.82M | -$6.46M | -$6.34M | -$3.84M | +40.9% |
| Basic shares | 12.35M | 11.65M | 10.34M | 654.42K | +6.0% |
| Diluted shares | 12.35M | 11.65M | 10.34M | 654.42K | +6.0% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $74.45M | $68.90M | $73.28M | — | $6.71M | +8.1% |
| Cash & short-term investments | $74.45M | $68.90M | $73.28M | — | $6.71M | +8.1% |
| Total current assets | $80.09M | $74.68M | $78.30M | — | $15.63M | +7.3% |
| Property, plant & equipment | $161.00K | $271.00K | $380.00K | — | $568.00K | -40.6% |
| Total assets | $80.28M | $75.01M | $78.72M | — | $16.20M | +7.0% |
| Total current liabilities | $1.93M | $1.55M | $1.65M | — | $7.37M | +24.6% |
| Current debt | — | — | — | — | $1.40M | — |
| Total debt | $114.00K | $163.00K | $210.00K | — | $1.69M | -30.1% |
| Total liabilities | $5.05M | $1.60M | $1.71M | — | $8.79M | +215.6% |
| Retained earnings | -$174.37M | -$170.48M | -$163.96M | — | -$125.95M | -2.3% |
| Shareholder equity | $75.23M | $73.41M | $77.01M | — | $7.40M | +2.5% |
| Working capital | $78.17M | $73.13M | $76.65M | — | $8.26M | +6.9% |
| Net tangible assets | $75.23M | $73.41M | $77.01M | — | $7.40M | +2.5% |
| Shares issued | 13.68M | 11.97M | 11.59M | 6.48M | 918.23K | +14.3% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|
| Net income | -$3.88M | -$6.52M | -$6.41M | -$3.97M | +40.5% |
| Depreciation & amortisation | $65.00K | $59.00K | $66.00K | -$5.00K | +10.2% |
| Stock-based compensation | $1.47M | $2.28M | $2.63M | $417.00K | -35.5% |
| Change in working capital | $298.00K | -$463.00K | -$5.46M | $1.03M | +164.4% |
| Operating cash flow | -$2.46M | -$4.62M | -$9.16M | -$3.16M | +46.9% |
| Capital expenditure | -$5.00K | -$4.00K | -$2.00K | — | -25.0% |
| Investing cash flow | -$18.00K | -$4.00K | -$42.00K | $0 | -350.0% |
| Share buybacks | -$1.14M | — | — | $0 | — |
| Financing cash flow | $4.71M | $927.00K | $67.18M | $7.74M | +408.1% |
| Free cash flow | -$2.46M | -$4.63M | -$9.16M | -$3.16M | +46.8% |
| End cash position | $74.45M | $69.19M | $73.28M | $6.71M | +7.6% |
Options analytics
Put / call volume
0.00
Call-heavy session
Put / call open interest
0.00
Positioning, not flow
Max pain
3.00
-5.1% from spot
ATM implied vol
475.0%
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
51
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
6.00
30 contracts
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.57 | -0.17 | +70.2% |
| Mar 2026 | -0.84 | -0.49 | +41.7% |
| Dec 2025 | -0.93 | -0.85 | +8.7% |
| Sep 2025 | -18.09 | -0.92 | +94.9% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.52 | 1 | $0 | 0.0% |
| Next quarter | -0.53 | 1 | $0 | 0.0% |
| Current year | -2.23 | 1 | $0 | 0.0% |
| Next year | -2.45 | 1 | $0 | 0.0% |
Analyst targets & ownership
Mean target$18.66
High target$19.31
Low target$18.00
Implied upside490.18%
Analyst count2
ConsensusSTRONG BUY
Strong buy / Buy0 / 1
Hold0
Sell / Strong sell0 / 0
Held by insiders11.77%
Held by institutions3.64%
Institutions holding19
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
3.24
-2.50% from price
SMA 20
3.35
-5.68% from price
SMA 50
3.31
-4.61% from price
SMA 100
3.37
-6.24% from price
SMA 200
4.97
-36.42% from price
EMA 12
3.26
-3.11% from price
EMA 26
3.32
-4.67% from price
EMA 50
3.35
-5.77% from price
RSI (14)
42.2
Neutral
MACD (12,26,9)
-0.05
Hist -0.03
ATR (14)
0.16
5.14% of price
Realised vol 30D
56.3%
Annualised
Bollinger upper
3.69
20, 2σ
Bollinger lower
3.01
20, 2σ
50 / 200 cross
Death
3.31 vs 4.97
Trend bias
Below 200
-36.42%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
1.41
More volatile than market
Correlation to SPY
0.17
Largely independent
Realised vol 30D
56.3%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-82.2%
Peak to trough
Max drawdown 5Y
-99.9%
Peak to trough
ATR 14
0.16
5.14% of price
Beta (reported)
2.82
5Y monthly, from filing
Short interest
Shares short
716.31K
Prior 812.49K
Change vs prior
-11.8%
Shorts covering
% of float
5.78%
Normal
% of shares out
5.71%
Against total outstanding
Days to cover
8.9
Crowded exit
Float
10.18M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jun 8, 26 | Alliance Global Partners | INITIATED | — | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay date—
Last split1:30
Split dateFeb 27, 2026
SEC filings
Periodic Financial Reports
10-K · 2026-09-25
Corporate Changes & Voting Matters
8-K · 2026-09-09
Corporate Changes & Voting Matters
8-K · 2026-08-25
Corporate Changes & Voting Matters
8-K · 2026-08-11
Corporate Changes & Voting Matters
8-K · 2026-07-23
Corporate Changes & Voting Matters
8-K · 2026-06-25
Corporate Changes & Voting Matters
8-K · 2026-06-10
Corporate Changes & Voting Matters
8-K · 2026-06-09
Headlines
Stonegate Updates Coverage on Incannex Healthcare Inc. (IXHL) FY26
TMX Newsfile · 6d ago
Incannex Healthcare Provides Corporate Update on Clinical Progress, Intellectual Property and Capital Position
GlobeNewswire · 28d ago
Incannex Announces First Patient Dosed in DReAMzz Phase 2 Study of IHL-42X
GlobeNewswire · 43d ago
Incannex Receives Additional A$5.1 Million R&D Tax Incentive Refund, Completing More Than A$11.2 Million in Non-Dilutive Capital Received in 2026
GlobeNewswire · 57d ago
Incannex Commences Participant Screening in DReAMzz Phase 2 Study of IHL-42X for Obstructive Sleep Apnea
GlobeNewswire · 76d ago
Incannex (IXHL) Secures U.S. Patent Grant in Obstructive Sleep Apnea for IHL-42X
Insider Monkey · 84d ago
PRIVATE STRATEGY · BY QUALIFICATION
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