Incannex Reactivates Share Repurchase Program, Cites ‘Significant Disconnect’ Between Its Market Cap And Financial Strength

Incannex Healthcare Inc. (IXHL) on Friday announced that it has reactivated its share repurchase program, saying that it has been active over the past two trading days.

The company cited a “significant disconnect” between its market capitalization and the underlying financial strength, as well as the progress it has achieved across its clinical programs.

Incannex stated that it intends to continue utilizing the share repurchase program “opportunistically.”

Incannex Healthcare shares gained more than 6% in Friday’s pre-market trade. However, retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.

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