IXHL, isn't it a good news? Here:
Incannex Confirms Strong Cash Position; No Plans or Requirement to Fully Utilise ATM in Near Term
2025-07-31 08:00 ET - News Release
MELBOURNE, Australia, July 31, 2025 (GLOBE NEWSWIRE) -- Incannex Healthcare Inc. (Nasdaq: IXHL) (“Incannex” or the “Company”) announced, in response to recent questions it received from a number of its stockholders, that it does not presently intend to use the full capacity available under its at the market offering program (the “ATM”) in the near-term. As previously disclosed in the Company’s Form 8-K filed with the U.S. Securities and Exchange Commission on July 24, 2025, the Company is under no obligation to issue any shares of its common stock pursuant to the ATM and any utilisation of the ATM will be at the discretion of the Company, taking into account prevailing market conditions and strategic priorities. The Company’s general practice is to make use of the ATM in its discretion, but in limited amounts compared to the then-present daily trading volume. For example, on July 30, 2025, the Company sold approximately 9.2 million shares of its common stock pursuant to the ATM, which represented only 1.97% of the reported daily trading volume for the day. Prior to yesterday’s activity, the Company had not utilised the ATM facility since July 17. With a strong current cash balance of approximately US$50 million, Incannex is well positioned to advance its portfolio of drug candidates through the next stages of development.
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