IXHL - potential 10 bagger
Anyone heard of IXHL?
OSA: currently doing a joint phase 2b/ 3 trial for obstructive Sleep Apnea (OSA) on 560 patients, with phase 2b read out due to be released in the 4Q 2024. The phase 2a results were outstanding, so if you see a repeat with the phase 2b readout, could be a real winner, like a 10 bagger.
OSA: phase 2a results observed IHL-42X to reduce the apnea hypopnea index (AHI), the standard measure of OSA, by an average of greater than 50% at the low dose in the study. Furthermore, 25% of patients experienced a reduction in AHI of greater than 80%, representing a sub clinical AHI score for some trial participants. So you can see potentially how big phase 2b results would be, if we get a repeat of phase 2a.
OSA: phase 3 due to start immediately following phase 2b trial (approved by FDA) and due to go for the next 12 months. This is a serious clinical trial. There’s currently no drugs to treat sleep apnea and it’s a multi billion dollar market, so if successful the drug would be extremely disruptive and create a takeover target.
RA: currently doing a phase 2a trial for rheumatoid arthritis (RA) on 120 patients. News due to be released also in Q4 2024. This could be really big.
RA: IXHL’s RA drug is a combination of HCQ and CBD. HCQ is approved for treatment of rheumatoid arthritis by the FDA and is used by a significant cohort of patients with the disease. Many patients are also reportedly using non-cGMP grade CBD to ameliorate their symptoms. The intention of Incannex is to undertake clinical trials for its proprietary fixed dose combination of HCQ and CBD to achieve FDA marketing approval for a pharmaceutical grade IHL-675A product that can be prescribed by a patient’s doctor.
Patents: global patent portfolio on all drugs (28+ patents)
Psychedelics: just announced FDA approved an IND for phase 2b trial for psilocybin to treat Generalised Anxiety Disorder. So that should kick off in the coming months
Robert Clarke on the board - he’s currently the Vice President, Regulatory Affairs for Novo Nordisk; one of the world’s largest Pharma companies. So if the sleep apnea and the rheumatoid arthritis drugs look good, which company do you think will be first in line to buy it?
currently a $30M market cap (Nasdaq listed). Absolutely outrageous value for the pending news.
Risks and why the share price is cheap: they will raise cash to continue funding the ongoing trials, and simply no one knows about the company, as it just listed on the NASDAQ late last year. But if you like to take a punt, tremendous value from down here imo - especially buying into a late stage biotech with a joint phase 2b/3 trial