Company: IXHL
Filing Date: 2025-04-07
Form Type: 424B5
Source: 0001213900-25-029414
Chunk: 5

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-07
Form: 424B5
Chunk 5
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 a representation,
warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly,
such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.

Information contained on,
or that can be accessed through, our website does not constitute part of this prospectus supplement, the accompanying prospectus or any
related free writing prospectus.

<div align='center'>S-ii

PROSPECTUS
SUPPLEMENT SUMMARY</div>

This summary highlights selected information contained elsewhere in
this prospectus supplement and in the documents we incorporate by reference. This summary does not contain all of the information you
should consider before making an investment decision. You should read this entire prospectus supplement, the accompanying prospectus and
the information and documents that we incorporate by reference herein and there in carefully, especially the risks of investing in our
common stock discussed under “Risk Factors” beginning on page S-6 of this prospectus supplement, along with our consolidated
financial statements and notes to those consolidated financial statements and the other information and documents incorporated by reference
in this prospectus supplement and the accompanying prospectus.

<div align='center'>THE
COMPANY</div>

About Incannex Healthcare Inc.

We are a clinical-stage biopharmaceutical
development company dedicated to developing combination medicines that target the underlying biological pathways associated with chronic
conditions, including obstructive sleep apnea (“OSA”), rheumatoid arthritis and generalized anxiety disorder. We are advancing
novel oral fix-dosed treatments and therapeutic regimens based on evidence-based innovation. Our lead Phase 2/3 and Phase 2 clinical programs
include IHL-42X for the treatment of OSA; IHL-675A for the treatment of inflammatory conditions, including rheumatoid arthritis, and PSX-001,
our oral synthetic psilocybin treatment, in combination with psychotherapy, for the treatment of generalized anxiety disorder. Our programs
target disorders that have limited, inadequate, or no approved pharmaceutical treatment options.

To date, we have not generated any revenue and do not expect to generate
significant revenue from the sale of our drug candidates in development in the foreseeable future. If our development efforts for our
drug candidates are successful and result in regulatory approval, we may generate revenue in the future from these sales. We cannot predict
if, when, or to what extent we will generate revenue from the commercialization and sale of our drug candidates.