Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 115

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 115
---
 2018
     
    Victoria, Australia
  
    Psychennex Pty Ltd
     
    November 20, 2020
     
    Victoria, Australia
  
    APIRx Pharmaceutical USA, LLC
     
    August 5, 2022
     
    Delaware
  
    Clarion Clinics Group Pty Ltd
     
    March 3, 2023
     
    Victoria, Australia
  
    Clarion Model Clinic Pty Ltd
     
    March 2, 2023
     
    Victoria, Australia
  
    Psychennex Licensing and Franchising Pty Ltd
     
    March 2, 2023
     
    Victoria, Australia

39

Item
1A. Risk Factors

Investing
in our common stock involves a high degree of risk. You should consider carefully the risks and uncertainties described below, together
with all of the other information in this Annual Report, including our financial statements and related notes included elsewhere in this
Annual Report and in the section titled “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” before making an investment decision.
If any of the following risks are realized, our business, financial condition, results of operations and prospects could be materially
and adversely affected. In that event, the trading price of our common stock could decline, and you could lose part or all of your investment.
Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial also may impair our business,
financial condition, results of operations and prospects.

Summary
Risk Factors

We
are subject to a number of risks that if realized could affect our business, financial condition, results of operations and cash flows.
As a clinical-stage biopharmaceutical company, certain elements of risk are inherent to our business. Accordingly, we encounter risks
as part of the normal course of our business. Some of the more significant challenges and risks include the following:

Risks
Related to Our Financial Condition and Capital Requirements

●We
                                            have a history of operating losses and may not achieve or maintain profitability in the future.
                                            Our ability to achieve profitability depends on the successful development of our drug candidates.

●We
                                            rely on R&D tax incentives to provide resources to conduct our business operations. If
                                            the amount of R&D tax incentives decreases, our results of operations and cash resources
                                            may be materially affected.

●We
                                            expect that we will need substantial additional funding to continue the development of our
                                            drug