I think it is possible, but I think all things considered it...

I think it is possible, but I think all things considered it would be better for the company to leave the ASX.
I suspect a good portion of the drag on the share price is that many US investors are looking to the ASX for guidance.
Australian company with an ADR listing, very recent introduction to the NASDAQ with an unfortunate pump and dump at the outset of the ADR listing? Beyond the fundamentals, the question on my mind would be... well, what do the Australians make of this company, and I'd look to ASX share price movements. Which we all know have failed to fairly value the company for a while now for all the usual reasons... bank and mining myopia, more risk averse capital, etc.

That's precisely what we want to get beyond. We want the NASDAQ to drive sentiment. If we stay partially on the ASX, it might take positive IHL42x pivotal trial results to truly break the cycle of the ASX weighing us down. That potential is about a year away.

I suspect Joel and the rest of the BOD know they have several announcements coming up that could push our NASDAQ listing towards fair valuation among our peers: announcements that are due well before the end of our IHL42x pivotal trials. They've pretty much said as much. But for these to have full effect on our market cap, we have to be untethered from a reference market that under-appreciates our price sensitive progress.

Consider IHL216a: when it starts human trials, I don't think the ASX will bat much of an eyelid. The NASDAQ will wonder what's wrong with the stock, and their enthusiasm will be dampened proportionally. Without the sluggish ASX as a guide, the NASDAQ will be free to create its own story, weave it with its profound love for contact sports and the unmet need so tragically illustrated by life after life of star athletes, ruined by TBI, and draw untainted attention to IXHL as a seriously undervalued play. Same for our PsiGAD results and clinics business.

Don't underestimate the effect the ASX is having here. There is a very natural fear of the unknown when investing in a foreign company. So much one does not understand about how business is done overseas. The easiest shortcut to gaining some insight, however small, as to how well a foreign company is faring is to look at what the domestic market is doing with its shares. We really don't want to be seen through that lens anymore.

That's my take. I might be wrong, but I'm definitely voting yes on the move to the NASDAQ.