Company: IXHL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043682
Chunk: 62

Company: Incannex Healthcare Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 62
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 annum and is payable on the last date of each calendar month and on the Final Repayment Date.

This facility provides us with immediate access
to funds based on research and development expenses incurred during the 2023 and 2024 financial years, aligning with the end of the Australian
financial year. The Research and Development Tax Incentive (“RDTI”) program is a key program under the Australian government's
innovation framework, designed to encourage companies to undertake research and development activities that benefit Australia. It offers
a tax rebate, currently at 48.5%, for eligible research and development expenses, allowing companies to recoup almost half of their research
and development spending.

22

Results of Operations

Comparison of the Three and
Nine Months Ended March 31, 2025 and 2024

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

    For the Three Months Ended March 31  

    For the Nine Months Ended March 31  

    2025  
    2024  
    $ Change  
    % Change  
    2025  
    2024  
    $ Change  
    % Change 
  
    Revenue from customers 
    $-  
    $-  
    $-  
     -  
    $86  
    $-  
    $86  
     100%
  
    Operating expenses: 

    Research and development 
     (2,735) 
     (3,277) 
     542  
     (17)% 
     (7,045) 
     (8,520) 
     1,475  
     (17)%
  
    General and administrative 
     (2,268) 
     (4,138) 
     1,870  
     (45)% 
     (9,302) 
     (11,777) 
     2,475  
     (21)%
  
    Total operating expenses 
     (5,003) 
     (7,415) 
     2,412  
     (33)% 
     (16,347) 
     (20,297) 
     3,950  
     (19)%
  
    Loss from operations 
     (5,003) 
     (7,415)