Business
Incannex Reactivates Share Repurchase Program, Underscoring Confidence in Valuation and Strategic Position
Board initiates buyback activity following period of inactivity, with repurchases executed over the past two trading days MELBOURNE, Australia and NEW YORK,
About this update from Incannex Healthcare Inc.
[{"type":"text","content":"Board initiates buyback activity following period of inactivity, with repurchases executed over the past two trading days\nMELBOURNE, Australia and NEW YORK, March 27, 2026 (GLOBE NEWSWIRE) -- Incannex Healthcare Inc. (Nasdaq: IXHL), a clinical-stage biopharmaceutical company developing innovative combination therapies, today announced that it has reactivated its previously approved share repurchase program, with the program having been active over the past two trading days. The Company has utilized the buyback program opportunistically in the past, however had not actively repurchased shares in recent periods. The decision to reinitiate buyback activity reflects the Board of Directors’ view that the Company’s current market valuation does not accurately reflect the strength of its balance sheet, clinical progress, and future potential. Following its recent financing, Incannex has approximately $75 million in cash on hand and no debt, positioning the Company with significant financial flexibility as it advances its clinical pipeline, including IHL-42X for obstructive sleep apnea and PSX-001 for the treatment of generalized anxiety disorder. At current trading levels, the Company believes its market capitalization represents a significant disconnect relative to its underlying financial strength and the progress achieved across its clinical programs. CEO Commentary “We have taken the decision to reactivate our share buyback program, which has been active over the past two trading days, as we believe the current valuation of the Company does not reflect the strength of our balance sheet or the progress we have made across our clinical pipeline,” said Joel Latham, President and Chief Executive Officer of Incannex Healthcare. “While we have used the share repurchase program opportunistically in the past, we have not been active in recent periods. The decision to re-engage reflects our conviction in deploying capital in a manner to potentially enhance shareholder value” “With approximately $75 million in cash and no debt, we are in a strong financial position to execute on our clinical development strategy while maintaining the flexibility to allocate capital in a disciplined and strategic manner. As we progress key milestones across IHL-42X and PSX-001, we believe the Company is well positioned to unlock meaningful value.” Capital Al...