Incannex Healthcare Inc., a clinical-stage biopharmaceutical company, has released its fiscal third quarter 2025 financial results, detailing key financial metrics and business updates. For the three-month period ending March 31, 2025, the company reported a net loss of $3.97 million USD, an improvement compared to a net loss of $6.03 million USD for the same period in 2024. Research and Development expenses decreased to $2.74 million USD from $3.28 million USD year-over-year. Additionally, General and Administration expenses for the quarter were reduced to $2.27 million USD, down from $4.14 million USD in the previous year, attributed to cost-saving initiatives and reduced overhead. Cash and cash equivalents as of March 31, 2025, stood at $6.71 million USD, up from $2.09 million USD at the end of December 2024, bolstered by proceeds from financing activities and R&D tax incentive receivables. The company secured $12.5 million USD in private placement funding to support its ongoing IHL-42X Phase 2/3 clinical program for obstructive sleep apnea (OSA). Operationally, the company reported positive topline results from a pharmacokinetics and safety study of IHL-42X, demonstrating bioavailability and pharmacokinetic profiles comparable to established reference drugs. This progress supports the planning of the RePOSA Phase 3 trial, which will be conducted exclusively at U.S. sites. Through these efforts, Incannex aims to advance IHL-42X as a potential treatment for patients with OSA.