Company: IXHL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043682
Chunk: 0

Company: Incannex Healthcare Inc.
Filing Date: 2025-05-15
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)

    March 31,
 2025  
    June 30,
 2024 
  
    Assets 

    Current assets: 

    Cash and cash equivalents 
    $6,711  
    $5,858 
  
    Prepaid expenses and other assets 
     416  
     507 
  
    Assets pledged as security for short-term debt 
     1,397  
     - 
  
    Research and Development (“R&D”) tax incentive receivable 
     7,105  
     9,837 
  
    Total current assets 
     15,629  
     16,202 
  
    Property, plant and equipment, net 
     277  
     472 
  
    Operating lease right-of-use assets 
     291  
     373 
  
    Total assets 
    $16,197  
    $17,047 
  
    Liabilities and stockholders’ equity 

    Current liabilities: 

    Trade and other payables 
    $1,067  
    $612 
  
    Accrued expenses and other current liabilities 
     4,718  
     4,845 
  
    Short-term debt 
     1,397  
     - 
  
    Operating lease liabilities, current 
     186  
     163 
  
    Total current liabilities 
     7,368  
     5,620 
  
        Operating lease liabilities, non-current 
     104  
     210 
  
        Long-term debt 
     -  
     - 
  
        Warrant liabilities 
     1,322  
     - 
  
        Convertible rights 
     -  
     - 
  
    Total liabilities 
     8,794  
     5,830 
  
    Commitments and contingencies (Note 8) 

    Stockholders’ equity: 

    Common stock, $0.0001 par value – shares 100,000,000 authorized; 17,785,235 and 17,642,832 shares issued and outstanding at March 31, 2025 and June