Incannex Healthcare Inc. (Nasdaq: IXHL), a clinical-stage biopharmaceutical company, has announced the cancellation of all remaining Series A Warrants, effectively streamlining its capital structure and eliminating potential dilution. This strategic move was funded through the company's At-The-Market $(ATM.UK)$ facility and follows binding agreements to cancel the final 172 million Series A Warrants in exchange for $12.2 million, as announced on May 28, 2025. The cancellation initiative removes a total of 347.2 million shares from potential future dilution. This development comes ahead of key clinical milestones, including the anticipated topline data readout from the Phase 2 RePOSA trial of IHL-42X, a potential first-in-class oral therapy for obstructive sleep apnea. The results of this trial are expected to be presented in July 2025.
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