Incannex Healthcare Inc, a clinical stage pharmaceutical development company, experienced a remarkable surge in its stock value on Thursday after the company’s successful implementation of the previously announced transaction to redomicile from Australia to the United States. The redomiciliation process of Incannex Healthcarewas finalized on November 28, 2023, according to New York time (November 29, 2023, Melbourne time).
Having closed trading at $0.97 on Wednesday, the stock witnessed an impressive opening during Thursday’s trading session, commencing at $1.96. The upward momentum has persisted, with the current trading value soaring to an impressive $8.80.
At the time of this publication, Incannex Healthcare Ltd stock (IXHL) has witnessed a surge.
Incannex Healthcare Ltd
Current Price: $8.80
Change : +7.83
Change (%): (807.22%)
Volume: 41.5K
Source: Tomorrow Events Market Data
In connection with the redomiciliation, common stock shares of Incannex Healthcare Inc. were issued on November 28 and are set to commence trading on The Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “IXHL” on November 30, 2023 (New York time) or at the earliest possible time thereafter.
Incannex Healthcare Inc. will now be subject to the reporting requirements of the U.S. Securities and Exchange Commission (“SEC”) and must adhere to the corporate governance rules of Nasdaq. Comprehensive details regarding the redomiciliation process can be found in a Current Report on Form 8-K, which will be promptly filed by Incannex Healthcare Inc. with the SEC.
Incannex Healthcare operates as a clinical-stage pharmaceutical development firm focused on creating distinctive medicinal cannabis pharmaceutical products and psychedelic medicine therapies. The company’s primary focus lies in addressing various medical conditions, including obstructive sleep apnea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, and pain, among other indications.
Investors and stakeholders are keenly watching the company’s performance as it navigates this pivotal transition and adapts to the regulatory landscape in the United States. The surge in stock value reflects the market’s positive response to the successful completion of this strategic move.
