Incannex Healthcare Ltd (ASX:IHL, NASDAQ:IXHL), a global biotech company developing cannabinoid and psychedelic compound medicines, has been added to the S&P/ASX 300 Index with the change effective prior to the market opening on September 19, 2022.
This addition to the S&P/ASX Indices was made following S&P Dow Jones Indices’ September quarterly review.
Incannex is a clinical-stage pharmaceutical development company that is developing unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies for the treatment of generalised anxiety disorder (GAD), obstructive sleep apnoea (OSA), traumatic brain injury (TBI)/concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis and inflammatory bowel disease.
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FDA approval and registration, subject to ongoing clinical success, is being pursued for each drug and therapy under development.
Each indication represents major global markets and currently have no, or limited, existing registered pharmacotherapy (drug) treatments available to the public.
IHL has a strong patent filing strategy in place as it develops its products and therapies in conjunction with its medical and scientific advisory board and partners.
Extended possibilities
The company is buoyed by the opportunities entry to the index brings.
“We’re delighted to be recognised for inclusion in the S&P/ASX 300 index to be listed among the largest and most-recognisable companies in Australia”, IHL CEO and Managing Director Joel Latham said.
“Being listed in the index is a precursory investment condition for many domestic and international investment institutions so we are excited for the possibilities this recognition may bring”.
S&P/ASX Index changes
Other changes to the S&P/ASX Indices include the removal of AVZ Minerals Ltd (ASX:AVZ) from the S&P/ASX 200 Index as well as the S&P/ASX 300 Index and the removal of Firefinch Ltd (ASX:FFX) from the S&P/ASX 300 Index.
There were no changes to the S&P/ASX 20 Index or the S&P/ASX 50 Index.
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