Incannex Healthcare shares surge 46.22% after hours following FDA Fast Track designation for IHL-42X in OSA.

Incannex Healthcare Inc. surged 46.22% in after-hours trading following the announcement that the FDA granted Fast Track Designation for its drug candidate IHL-42X in treating obstructive sleep apnea (OSA). This regulatory milestone accelerates the development and review process, signaling potential for expedited market approval and validating the therapy’s unmet medical need. The news aligns with the company’s recent focus on advancing its OSA pipeline, including positive Phase 2 trial outcomes and expanded clinical advisory support, reinforcing investor confidence in its therapeutic innovation and commercial potential.