(Note:  IPOScoop has No Call on this offering because it is NOT an IPO. This is an uplisting of American Depositary Shares (ADS) on the NASDAQ under the proposed symbol “IXHL.” The company’s ordinary shares already trade on the Australian Securities Exchange under the symbol “IHL”. Each ADS represents 25 ordinary shares.)

(On Dec. 3, 2021, the last reported sale price of our ordinary shares on the Australian Securities Exchange was A$0.53 per ordinary share, equivalent to a price of US$9.38 per ADS, after giving effect to the Australian dollar/U.S. dollar exchange rate of A$1.00 to US$0.7076 (as published by the Reserve Bank of Australia as of Dec. 3, 2021), and an ADS-to-ordinary share ratio of 1 to 25. For the purposes of this preliminary prospectus, the estimated initial public offering price is US$9.38 per ADS.)

We are a clinical stage pharmaceutical development company and the success of our drug candidates is therefore uncertain. We focus on medicinal synthetic cannabidiol pharmaceutical products and psychedelic medicine therapies. 

We are developing targeted and scientifically validated fixed-dose combinations of synthetic cannabidiol and psychedelic agents. We focus on clinical indications that we believe represent unmet or inadequately addressed medical needs and also represent compelling commercial opportunities. In particular, we are developing three unique pharmaceutical compositions to target five indications: obstructive sleep apnea (“OSA”), traumatic brain injury (“TBI”)/concussion, rheumatoid arthritis, inflammatory bowel disease and inflammatory lung conditions (“ARDS”, “COPD”, Asthma, Bronchitis). We are also developing a treatment for generalized anxiety disorder (“GAD”) utilizing psilocybin combined with innovative psychotherapy methods. We are pursuing FDA registration and marketing approval for each product and therapy under development. 

Note: Revenue and net loss figures are for the 12 months that ended June 30, 2021, and these figures have been converted to U.S. dollars – as shown here – from Australian dollars in the prospectus.

(Note: Incannex Healthcare withdrew its IPO in a letter to the SEC dated Jan. 21, 2022.) Previously: Incannex Healthcare tweaked the terms of its Nasdaq uplisting in an F-1/A filing on Dec. 7, 2021, in which it slightly increased the number of American Depositary Shares to 2.6 million, up from 2.5 million, and cut the expected IPO price to US$9.38 per ADS, based on the Dec. 3, 2021, close of its ordinary shares on the Australian Securities Exchange and the U.S. dollar/Australian dollar exchange rate in effect on Dec. 3, 2021.)