FDA Experts Weigh In On Incannex's CannQuit-O With Feedback On CBD As Treatment For Opioid Use Disorder
Portfolio Pulse from Jelena Martinovic
Incannex Healthcare Inc. (NASDAQ:IXHL) announced the successful completion of a pre-investigational new drug meeting with the FDA for CannQuit-O, a treatment for opioid use disorder combining CBD and an opioid antagonist. The FDA provided feedback and recommendations for the clinical development strategy. Incannex has partnered with Eurofins Scientific to manufacture this and another product aimed at treating nicotine disorders. The company's shares rose 9.09% to $2.52 following the announcement.
May 07, 2024 | 4:35 pm
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POSITIVE IMPACT
Incannex Healthcare Inc. received positive feedback from the FDA on CannQuit-O, a treatment for opioid use disorder, leading to a 9.09% increase in its stock price.
The positive outcome of the pre-IND meeting with the FDA regarding CannQuit-O's development strategy is a significant step forward for Incannex Healthcare. The FDA's feedback and recommendations are crucial for advancing the clinical development of CannQuit-O. This regulatory milestone, combined with the partnership for manufacturing with Eurofins Scientific, has positively impacted investor sentiment, as reflected in the 9.09% increase in stock price. The news directly relates to Incannex's core business and future revenue potential, making it highly relevant and important to investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100