Stonegate Capital Partners' updated coverage on Incannex Healthcare Inc. highlights the positive Phase 2 study results of their IHL-42X asset, showing significant reduction in Apnoea-Hypopnoea Index. Patient-reported outcomes were also impressive, boosting IXHL's prospects for bringing IHL-42X to market. The company's financial position has improved through strategic financing, and other projects like PSX-001 and IHL-675A are progressing well. Stonegate's valuation model suggests a range of $1.05 to $2.86 for IXHL, with potential for re-ratings based on new information.
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