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Investing.com -- Incannex Healthcare Inc. (NASDAQ:IXHL) stock jumped 10% Friday following the release of positive Phase 2 trial results for its obstructive sleep apnea (OSA) treatment, IHL-42X.
The clinical-stage pharmaceutical company reported compelling efficacy data from its RePOSA Phase 2 trial, with patient exit interviews revealing that 57.6% of participants experienced perceived improvements in their OSA condition. Among those reporting benefits, 89.5% described the changes as meaningful to their daily lives.
The trial demonstrated statistically significant improvements across multiple key endpoints. Patients receiving IHL-42X showed significant reductions in Apnoea-Hypopnoea Index (AHI) compared to placebo, with 41.2% of high-dose recipients achieving greater than 30% reduction in AHI. Some patients experienced AHI reductions of up to 83%.
"Our recent Phase 2 results for IHL-42X exceeded expectations. In some patients, we observed reductions in AHI of up to 83%, which is an extraordinary outcome and a powerful signal of the drug’s potential," said Joel Latham, President and CEO of Incannex.
The treatment also demonstrated an excellent safety profile with no serious adverse events reported during the treatment period. Most treatment-emergent adverse effects were mild or moderate.
Patients reported improvements in sleep quality, reduced daytime sleepiness, fewer cognitive disturbances, and greater ease in completing daily responsibilities. Unlike many sleep medications, IHL-42X did not reduce REM sleep, an important stage for memory consolidation and brain health.
The company remains well-capitalized to continue advancing its clinical programs while exploring strategic options to deliver long-term value to shareholders.
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