Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 767

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 6
Chunk 767
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 Agreement has been increased by up to an aggregate of $100 million of shares of
our common stock. There can be no assurance that the Sales Agents will be able to complete future placements pursuant to the Amended and
Restated Sales Agreement, even if instructed to do so. The number of shares of our common stock that we may ultimately sell under the
Amended and Restated Sales Agreement will fluctuate based on a number of factors, including the market price of our common stock during
the sales period, the limits it may set in any instruction to sell Shares, and the demand for our common stock during an applicable sales
period.

Results of Operations

Comparison of Fiscal Years Ended June 30, 2025 to June 30, 2024

The following tables summarize our results of
operations for the periods presented (in thousands):

    For the Years Ended  June 30  
    $  
    % 

    2025  
    2024  
    Change  
    Change 
  
    Revenue from customers 
     86  
     12  
     74  
     617 
  
    Operating expenses: 

    Research and development 
     (10,747) 
     (12,879) 
     2,132  
     (17)
  
    General and administrative 
     (13,128) 
     (17,174) 
     4,046  
     (24)
  
    Total operating expenses 
     (23,875) 
     (30,053) 
     6,178  
     (21)
  
    Loss from operations 
     (23,789) 
     (30,041) 
     6,252  
     (21)
  
    Other income/(expense): 

    R&D tax incentive 
     1,756  
     11,434  
     (9,678) 
     (85)
  
    Foreign exchange gains (losses) 
     (289) 
     (28) 
     (261) 
     932 
  
    Interest expense 
     62  
     206  
     (144) 
     (70)
  
    Interest income 
     (303) 
     -  
     (303) 
     100 
  
    Change in fair value of convertible rights