Company: IXHL
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013783
Chunk: 0

Company: Incannex Healthcare Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements

INCANNEX HEALTHCARE INC.

Condensed Consolidated Balance Sheets

(unaudited)

(in thousands, except share and per share amounts)

(expressed
in U.S. Dollars, unless otherwise stated)

    December 31,  2024  
    June 30, 2024 
  
    Assets 

    Current assets: 

    Cash and cash equivalents 
    $2,098  
    $5,858 
  
    Prepaid expenses and other assets 
     417  
     507 
  
    Assets pledged as security for short-term debt 
     1,383  
     - 
  
    Research and Development (“R&D”) tax incentive receivable 
     6,606  
     9,837 
  
    Total current assets 
     10,504  
     16,202 
  
    Property, plant and equipment, net 
     273  
     472 
  
    Operating lease right-of-use assets 
     329  
     373 
  
    Total assets 
    $11,106  
    $17,047 
  
    Liabilities and stockholders’ equity 

    Current liabilities: 

    Trade and other payables 
    $845  
    $612 
  
    Accrued expenses and other current liabilities 
     3,435  
     4,845 
  
    Short-term debt 
     1,383  
     - 
  
    Operating lease liabilities, current 
     177  
     163 
  
    Total current liabilities 
     5,840  
     5,620 
  
    Operating lease liabilities, non-current 
     152  
     210 
  
    Long-term debt 
     2,385  
     - 
  
    Warrant liabilities 
     1,286  
     - 
  
    Convertible rights 
     478  
     - 
  
    Total liabilities 
     10,141  
     5,830 
  
    Commitments and contingencies (Note 8) 

    Stockholders’ equity: 

    Common Stock, $0.0001 par value per share – 100,000,000 shares authorized; 17,785,235 and 17,642,832 shares issued and outstanding at December 31, 2024 and June 30, 202