Company: IXHL
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013783
Chunk: 88

Company: Incannex Healthcare Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 88
---
 (179) 
     (100)%
  
    Change in fair value of warrant liabilities 
     (103) 
     -  
     (103) 
     (100)% 
     (103) 
     -  
     (103) 
     (100)%
  
    Other expenses 
     (1,095) 
     -  
     (1,095) 
     (100)% 
     (1,095) 
     -  
     (1,095) 
     (100)%
  
    Total other income / (expenses), net 
     (890) 
     2,742  
     (3,632) 
     (132)% 
     (55) 
     6,908  
     (6,963) 
     (101)%
  
    Currency translation adjustment, net of tax 
     (414) 
     927  
     (1,341) 
     (145)% 
     (75) 
     418  
     (493) 
     (118)%
  
    Comprehensive loss 
    $(6,308) 
    $(4,314) 
    $(1,994) 
     (46)% 
    $(11,388) 
    $(5,550) 
    $(5,838) 
     105%

18

Revenue from Customers

We have generated revenue from Clarion Clinics for patient services
for the three and six months ended December 31, 2024. However, we do not expect to generate material revenues unless and until our drug
candidates are approved.

Operating Expenses 

Research and development 

Research and development expenses consist primarily
of external and internal costs incurred in performing clinical and preclinical development activities.

Our R&D expenses include:

    ●
    external costs associated with services provided by contract research organizations, contract manufacturers, consultants and other third parties to conduct and support our clinical trials and preclinical studies; and

    ●
    internal costs, including R&D personnel-related expenses such as salaries, and benefits, as well as allocated facilities costs and dues and subscriptions.

We expense research and development costs as incurred.

Research and development expenses decreased by
$1.2 million for the three months ended December 31, 2024 compared to the three months ended December 31, 2023. The decrease