--- title: "Incannex Healthcare Inc. gets Nasdaq minimum bid price notice" url: "https://aibio.space/news/incannex-healthcare-inc-gets-nasdaq-minimum-bid-price-notice-has-until/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-04-25" section: "Listings" tickers: "NASDAQ:IXHL" source: "https://www.sec.gov/Archives/edgar/data/1873875/000121390025035636/ea0239610-8k_incannex.htm" summary: "Nasdaq told Incannex on April 23, 2025 that its shares had closed below $1.00 for 30 consecutive trading days, giving it until October 20, 2025 to regain c" --- By the aibio.space news desk. Sources - [Incannex Healthcare Inc. Form 8-K filed April 25, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1873875/000121390025035636/ea0239610-8k_incannex.htm) - [Incannex Healthcare Inc. Form 10-K filed September 30, 2024: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1873875/000121390024082937/ea0212488-10k_incannex.htm) [IXHL](https://aibio.space/companies/incannex-healthcare/) 2025-04-25 # Incannex Healthcare Inc. gets Nasdaq minimum bid price notice, has until October 20, 2025 Tickers [IXHL](https://aibio.space/companies/incannex-healthcare/) Nasdaq told Incannex on April 23, 2025 that its shares had closed below $1.00 for 30 consecutive trading days, giving it until October 20, 2025 to regain compliance. Its annual report for the year ended June 30, 2024 carries an auditor's going concern paragraph. ## Key facts - **Company**: Incannex Healthcare Inc. (NASDAQ: IXHL) - **News type**: Listings - **Primary source**: [Incannex Healthcare Inc. Form 8-K filed April 25, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1873875/000121390025035636/ea0239610-8k_incannex.htm) *The Capitol dome against a blue sky. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Incannex Healthcare Inc. (Nasdaq: [IXHL](https://aibio.space/companies/incannex-healthcare/)), a Delaware corporation with its principal office in Norwest, New South Wales, Australia, received a written notice from Nasdaq's Listing Qualifications Department on April 23, 2025. The company reported it in a Form 8-K dated April 23, 2025 and signed April 25, 2025 by Chief Executive Officer and President Joel Latham. The notice says the stock closed below $1.00 for 30 consecutive trading days and no longer meets the minimum bid price for continued inclusion on The Nasdaq Global Market. The notice has no immediate effect on the listing. ## The compliance clock Nasdaq gave Incannex an initial 180 calendar days, until October 20, 2025, which the 8-K calls the Compliance Date. To regain compliance, the closing bid price must be at least $1.00 for a minimum of 10 consecutive business days, unless Nasdaq staff extend that period under Nasdaq Listing Rule 5810(c)(3)(H). If the company misses that date, it may be eligible for an additional 180 calendar days. To qualify, it would have to transfer its listing to the Nasdaq Capital Market, meet the market value of publicly held shares and other initial listing standards other than the bid price, and pay an application fee. It would also have to say in writing that it intends to cure the deficiency with a reverse stock split, if necessary, and staff must approve the extension. ## The company's position The 8-K says Incannex "remains committed to maintaining its listing" and is "actively evaluating and pursuing all available options." Its lead asset, IHL-42X for obstructive sleep apnea, is advancing through the RePOSA Phase 2/3 trial, and top-line data from the Phase 2 part are expected before the end of the first half of 2025. The filing also lists risks. They include that the company may not regain compliance, that a reverse split may not produce a lasting price increase, that it may not receive an additional period, and that an appeal may fail. A reverse split would need stockholder approval and "may require investor consent per the terms of the private placement." ## What the annual report says The 8-K refers to an annual report "for the year ended June 30, 2025," filed September 30, 2024. The annual report for the year ended June 30, 2024, which carries that filing date, is the one the 8-K appears to mean, so the 8-K's reference contains a year error. That report carries an explanatory paragraph from the company's auditor on going concern. It says the company believes there is substantial doubt about its ability to continue as a going concern for the 12 months after the report. The company says it has not yet established an ongoing source of revenue sufficient to cover its operating and capital expenditure requirements. The report gives June 30, 2024 cash and cash equivalents as $5.6 million in its discussion of results, and as $5.9 million in its going-concern note. Both compare with $22.1 million a year earlier. The report's cash runway changed during the year. Before September 2024, it said unrestricted cash would fund planned operations into December 2024. After a September 2024 purchase agreement, it said cash, the equity line and the debentures would be sufficient "until August 2025." ## The September 2024 financing Under the September 2024 purchase agreement, the company plans to issue secured convertible debentures of up to $10 million principal, for an aggregate purchase price of up to $9 million in three tranches that depend on closing conditions. A separate purchase agreement with Arena Business Solutions Global SPC II, Ltd lets the company sell up to $50 million of its common stock to Arena. Arena also holds a warrant for 585,000 shares at 115% of the closing price on the issue date. ## What the filings leave out The 8-K gives no closing price history, no current cash balance and no date for a stockholder vote on a reverse split. It does not update the annual report's cash runway, which ran to August 2025 at the time of the report. The 8-K gives no trial results. ## Who signed Chief Executive Officer and President Joel Latham signed the 8-K on April 25, 2025. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story IXHL Incannex Healthcare Inc. NASDAQ ยท Australia Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/incannex-healthcare-inc-gets-nasdaq-minimum-bid-price-notice-has-until/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Incannex Healthcare Inc. gets Nasdaq minimum bid price notice", 2025-04-25, https://aibio.space/news/incannex-healthcare-inc-gets-nasdaq-minimum-bid-price-notice-has-until/