ixhl stock today and why suspended

**Bottom-line:** IXHL is **not delisted or permanently “suspended.”** 🚦
It was briefly *halted* by Nasdaq this morning under a **T-1 (news-pending) code** while the company released the much-anticipated Phase-2 data for its sleep-apnea drug IHL-42X. Trading resumed once the press release hit the tape, but the combination of fresh clinical news and the stock’s micro-cap float kept volatility high, triggering a few automatic limit-up/limit-down (LULD) pauses—something traders often describe colloquially as a “suspension.”

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### What happened today?
| Time (ET, 30 Jul 25) | Event | Impact |
|----------------------|-------|--------|
| ~07:55 | Nasdaq issues **T-1 halt** (“news pending”) | Trading stopped so all investors receive material info simultaneously |
| 08:00 | Incannex publishes **positive topline results** from its RePOSA Phase-2 trial (AHI reduction up to 83%) | Fundamental catalyst; bullish headline |
| 09:30 | Regular session opens; halt lifted | Huge gap open and retail flows |
| Throughout day | Two quick **LULD volatility pauses** (prices whipping between $0.82 and $1.18) | Automatic safety brakes, each ~5 min |

By the close IXHL finished at **$1.07, -10.08% on 80.3 M shares**—still 4× its 20-day average volume and 200%+ above where it traded two weeks ago .

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### Why does Nasdaq do this?
1. **T-1 / T-12 news halts** – to ensure a level playing field when material information (earnings, FDA data, M&A, financings, etc.) is about to be released.
2. **LULD pauses** – to curb runaway price swings (>10% in 5 minutes for securities <$3). These are *temporary* (usually 5–10 min) and differ from formal delisting suspensions.

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### Context: earlier “halts”
IXHL also saw multiple LULD halts on **15 May 25** after a surprise $12.5 M private placement and a 60% intraday crash . That history explains why message boards keep using the word “suspended” whenever volatility spikes.

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### Take-aways for a short-term, high-risk trader ⚡
1. **Expect whipsaw moves:** A $7-8 M market cap and a float under 50 M shares mean small orders move the tape. Tight stops or options can manage risk.
2. **Catalyst path:** Today’s data clear the way for an FDA End-of-Phase-2 meeting; any indication the agency green-lights a streamlined Phase-3 could be the next pop.
3. **Dilution watch:** The shelf registration (up to $100 M) filed on 25 Jul 25 still hangs over the name ; management has already tapped the ATM twice in 2025.
4. **Know the codes:** If IXHL is halted again, check Nasdaq’s “Current Trading Halts” page. A **T-1/T-12** means news; **LULD** means volatility; anything labeled **H10/H11** would be far more serious (reg-based suspension).

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> “Suspended” sounds scary, but in this case it was a routine, short-lived trading halt so everyone could read today’s good news. 🌟

*Good luck and trade carefully!* 🤞