Incannex Healthcare Inc.
IXHLHealthcareNASDAQDrug Manufacturers - Specialty & Generic · Last scanned Oct 24, 2026
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Daily timeframeHeadquartered within the healthcare sector, Incannex Healthcare Inc. focuses on Drug Manufacturers - Specialty & Generic services and products. Incannex Healthcare Inc., a clinical-stage biopharmaceutical company, engages in the research and development of psychedelic medicines and therapies for patients with chronic diseases in Australia. At a $33.1M market cap, Incannex Healthcare Inc. ranks as a micro-cap company within healthcare. The company develops IHL-42X, an oral fixed dose combination of dronabinol and acetazolamide that is in Phase 2/3 clinical trial for the treatment of obstructive sleep apnea; and PSX-001, an oral synthetic psilocybin treatment in Phase 2b clinical development for patients with generalized anxiety disorder.
Market Cap
$33.1M
Beta
2.82
P/E (TTM)
—
P/E (Fwd)
-1.54
EPS (TTM)
$-1.69
EPS (Fwd)
$-1.72
ROE
-47.8%
ROA
-24.6%
Cash
$67.7M
Total Debt
$96,000
Free CF
-$9.3M
52W Change
-74.8%
Annual Financials
Cash vs Debt
Where IXHL stands vs its 150-day and 200-day moving averages
As of the October 20, 2026 close, IXHL finished 19.30% below its 150-day moving average ($3.42) and 40.13% below its 200-day moving average ($4.61). This snapshot is end-of-day data shown with a five-trading-day delay on the free plan; Premium members see readings from the latest close.
Is IXHL overbought or oversold?
At the October 20, 2026 close, IXHL's RSI(14) was 10.1, in oversold territory (below 30). The MACD histogram was negative, so short-term momentum leaned bearish at that close. These readings are historical, refresh daily after market close, and are not investment advice.
With $67.7M in cash and $96K in debt, IXHL maintains more liquidity than leverage. This favorable balance sheet position can be an asset when capital markets become less accommodating. Free cash flow is running at -$9.3M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of -47.8% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has pulled back from $1.4M (2021) to $0 (2026), a 100% decline worth watching.
Incannex Healthcare Inc.'s elevated beta suggests the stock experiences more pronounced price movements than the overall market, which increases both upside potential and downside risk. The strong cash position relative to debt provides a financial cushion that reduces balance sheet risk. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. No single metric tells the full story. Reviewing IXHL's risk profile alongside its fundamentals and technical indicators provides a more complete picture.