It is understandable to have amorphous fears. And even easier to...

It is understandable to have amorphous fears.
And even easier to sympathise with a fear that another delay will occur, based merely on the fact that it happened before, regardless of the reason.
On a basic level, we know delays can happen, and so on an equally basic level, we fear they will happen.

But that's not really what I was asking about. My questions goes to the heart of reasons for delays, and I'm curious whether you thought the reason for the Dec/Jan delay was a good one, and if not, why not? I was entirely satisfied with the reasons put forth, and am convinced the company would have suffered significant short and mid term damage, had it chosen to move ahead with the IPO at that point in the market's evolution.

Your question about whether folks will give the company the benefit of the doubt if it happens again, does it not hinge on why a new delay might happen? As stated by @moguns, if Novotech has a delay releasing the results to Incannex, only a deeply foolish investor would complain that the company should list in February no matter what, and miss the synergy of a listing paired with hopefully positive IHL-42x results. Only an even more deeply foolish investor would decide that Novotech's delay is Incannex's fault, and deep-six their investment thesis because of it.

The folks we might lose are the weak hands we've already been shaking off for the past few weeks, with their shares being happily gobbled up by other investors, some from the US due to our CEO's outreach there. Who will miss them? Nobody will miss them as much as they stand to miss their own shares... if the impending results turn out the way they look like they will. In a nutshell, the fundamentals have not changed. Any illusion that they have is merely the handy-work of the many-headed demons of impatience and fear, whispering with their forked tongues in the ears of us mere mortals.

If a delay as valid as the previous one, happens again now: I will celebrate it. Doing things right is much more important than satisfying our impatience.

Good luck @JohnK123. Not long now before all of this speculation becomes a thing of the past. I hope we all will be at peace with our decisions.