Incannex Healthcare Ltd (ASX:IHL, NASDAQ:IXHL) has begun trading on the Nasdaq Global Market under the ticker symbol ‘IXHL’.
The company is now dual listed on the ASX and Nasdaq, with the US listing making its shares more accessible to a wider audience of investors with sophisticated understanding of medicinal cannabinoids, psychedelic therapies and pharmaceutical development.
IHL is a clinical-stage pharmaceutical company developing unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies for unmet medical needs including treatment of generalised anxiety disorder (GAD), obstructive sleep apnoea (OSA), traumatic brain injury (TBI)/concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis and inflammatory bowel disease.
FDA approval and registration, subject to ongoing clinical success, is being pursued for each drug and therapy under development. Each indication represents major global markets and currently have no, or limited, existing registered pharmacotherapy (drug) treatments available to the public.
IHL has a strong patent filing strategy in place as it develops its products and therapies in conjunction with its medical and scientific advisory board and partners.
Ringing the bell
Incannex was invited to ring the Nasdaq closing bell, with managing director and CEO Joel Latham along with chairman Troy Valentine, doing the honours at the Nasdaq MarketSite in Times Square on Friday, February 25, at 4:00 pm US EST.
“The ringing of the closing bell to commemorate the listing of our ADSs was a milestone for Incannex, as we advance our pipeline of novel synthetic cannabinoid and psychedelic agents through the clinic,” stated Latham.
“Listing on Nasdaq will help increase our visibility with international investors and clinical research facilities. We look forward to continuing our strategy of pursuing US Food and Drug Administration approval for all of our therapies and to bringing these innovative medicines to patients in need.”
A recording of the ceremony may be viewed on the Nasdaq website under the page for closing bell ceremonies.
Note: As there was no capital raise to complete the listing, initial trading of IHL’s American Depositary Shares (‘ADS’), representing its ordinary shares, may be limited due to the time it takes for existing shareholders to transition their IHL ordinary shares to ADSs.