Ann: Independent data review commences for Ph 2 trial psilocybin, page-25

Good to see this made the news, including a write up from Edison, who have maintained their value of US$736m MC or US$11.70 per ADR. I think it works out to about AUD$0.68 (divide the ADR by 25 and then convert?)

https://www.edisongroup.com/research/progressing-the-opportunity-in-anxiety-treatment/31878/

https://themarketherald.com.au/incannex-healthcare-asxihl-achieves-interim-milestone-in-psilocybin-trial-2023-01-18/

https://unauthorised investment advice/health/incannex-at-forefront-of-psychedelic-research-and-development-with-key-trial-data-review-kicking-off/

'Incannex Healthcare — Progressing the opportunity in anxiety treatment

Following continued patient enrolment in Incannex’s ongoing Australian Phase II Psi-GAD1 study (ACTRN12621001358831), management has announced the commencement of an independent analysis of the interim data. The company expects the interim results from the study of psilocybin-assisted psychotherapy in generalised anxiety disorder (GAD) to be reported in March 2023. In our view, positive results would represent a significant catalyst for Incannex, considering the large GAD patient population (c 6.8 million US adults), lack of consistently effective first-line treatments and safety issues associated with long-term medication. We expect management to use the results of the Psi-GAD1 trial, assuming they are positive, to support potential Phase II FDA approved studies in FY23. We continue to value Incannex at US$736.6m or US$11.7 per ADR, including the issued shares from the A$13m private placement in December 2022.'

Looking forward to the interim results in March