Business UpdateJun 10, 2026, 07:36 AM
Incannex Healthcare Receives A$6M R&D Tax Refund, Expects A$11M Total
AI Summary
Incannex Healthcare Inc. announced it has received a A$6.04 million refund under the Australian Government's Research and Development Tax Incentive Program for FY25. The company anticipates an additional A$5.1 million in R&D Tax Incentive proceeds later in 2026, bringing the total expected non-dilutive funding to over A$11.1 million. These funds will strengthen the company's balance sheet and provide flexibility to advance its clinical development programs, including IHL-42X and PSX-001, and support capital allocation initiatives like its share repurchase program.
Key Highlights
- Incannex Healthcare received A$6.04 million R&D tax incentive refund for FY25.
- Company expects an additional A$5.1 million in R&D Tax Incentive proceeds later in 2026.
- Total expected non-dilutive funding under the program to exceed A$11.1 million in 2026.
- Funds will support advancement of clinical programs like IHL-42X and PSX-001.
- Proceeds will also support shareholder-focused capital allocation initiatives, including share repurchase program.
Price Impact
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