Company: IXHL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110299
Chunk: 4

Company: Incannex Healthcare Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 4
---
 $(6,407) 
    $(5,420)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Depreciation and amortization 
     66  
     64 
  
    Unrealized loss on foreign currency remeasurement 
     13  
     5 
  
    Stock-based compensation expense 
     2,626  
     459 
  
    Change in operating assets and liabilities: 

    Prepaid expenses and other current assets 
     299  
     177 
  
    R&D tax incentive 
     (364) 
     (839)
  
    Trade and other payables 
     (5,396) 
     3,309 
  
    Net cash used in operating activities 
     (9,163) 
     (2,245)
  
    Cash flows from investing activities: 

    Purchase of property, plant and equipment 
     (2) 
     - 
  
    Investment of joint venture 
     (40) 
     - 
  
    Net cash used in investing activities 
     (42) 
     - 
  
    Cash flows from financing activities: 

    Proceeds from share issuance 
     69,465  
     - 
  
    Share issuance costs 
     (2,288) 
     - 
  
    Net cash provided by financing activities 
     67,177  
     - 

    Effect of exchange rate changes on cash and cash equivalents 
     269  
     14 
  
    Net increase/(decrease) in cash and cash equivalents 
     57,972  
     (2,245)
  
    Cash and cash equivalents at beginning of period 
     15,039  
     5,858 
  
    Cash and cash equivalents at end of period 
    $73,280  
    $3,627 

The accompanying notes are an integral part of
these condensed consolidated financial statements.

4

INCANNEX HEALTHCARE INC.

Notes To Unaudited Condensed Consolidated Financial
Statements
(in thousands, except share and per share amounts)

(expressed
in U.S. Dollars, unless otherwise stated)

Note 1 – Business

Incannex Healthcare
Inc. (the “Company”) is a corporation formed under the laws of Delaware in July 2023. Incannex Healthcare Inc. and its