At time of writing, the share price of Incannex Healthcare Ltd [ASX:IHL] is up a further 15.9%, trading at 25.5 cents.
After a dormant period, the IHL share price sprang to life starting in November:
After looking at their efforts to dual list in the US, today we look at the highlights from the latest in vivo study results and the outlook for the IHL share price.
Highlights from Incannex Healthcare in vivo study
Here they are:
‘• IHL reports positive results from another in vivo study that has further assessed the antiinflammatory capability of its proprietary IHL-675A; synergy between CBD and HCQ has yet again been demonstrated
‘• Results indicate that IHL-675A has superior anti-inflammatory activity compared to CBD and HCQ in a mouse model of Colitis; a form of inflammatory bowel disease
‘• IHL-675A demonstrated a reduction in the Colitis Index of 46%; CBD-only treatment achieved a reduction of 25% (Appendix 1, Table 1)
‘• Incannex has expanded target indications for IHL-675A to include Inflammatory bowel disease, as well as SAARDS, COPD, asthma and bronchitis
‘• Potential for IHL-675A to become a multi-use medication
‘• Incannex will now expand its discussions with research organisations and regulators to continue a clinical and regulatory strategy and these negotiations are ongoing.
‘• Inflammatory bowel disease is a growing patient problem that requires new, cost effective treatments’
All good news then, especially if IHL-675A can actually become a multi-use medication.
Inflammatory bowel disease is particularly nasty too.
Outlook for IHL share price
After such big moves, it’s common to see a retracement or a pullback.
Alternatively, FOMO kicks in and IHL shares continue on their merry way.
Given how long the IHL share price spent in the doldrums, looking at long-term resistance levels isn’t really relevant here.
If charts are a mystery to you, our chart guru Murray Dawes recently wrote an excellent report on how to manage risk in volatile trades, which you can get right here.
And I’ve got another great resource for you; it’s the top three pot stocks for 2021 report.
As for IHL, it’s part of a broader uptick in the share prices of many ASX-listed pot stocks.
You can find all our coverage of this part of the market here.
For Money Morning