FX.co ★ Incannex's Phase 2 Psi-GAD1 Trial Of Psilocybin Meets Primary Endpoint; Stock Surges 39%

Incannex Healthcare Inc., a leading biotechnology company, has released encouraging results from their Phase 2 Psi-GAD1 clinical trial on Wednesday. This trial focuses on the usage of psilocybin as a possible treatment for Generalised Anxiety Disorder (GAD).

GAD is a widespread disorder causing a great deal of distress and damaging the emotional and social wellbeing of the sufferers. The trial, which was carried out in collaboration with the Clinical Psychedelic Lab at Monash University and headed by Paul Liknaitzky, found significant improvements in patients. These improvements were classified in terms of a significant reduction in anxiety scores and a notable remission of the disorder.

During the trial, patients were treated with a combination of psilocybin and psychotherapy. Considering the favourable outcomes of the trial, Incannex is gearing up to advance the formulation of the psilocybin drug product PSX-001 and the subsequent Phase 2B clinical trial PsiGAD2. This follow-up trial will be conducted across multiple sites in the U.S. and the U.K., according to the company.

In recent news, Incannex's stocks have seen a significant rise of 39.57 percent, reaching $5.89 from the preceding close of $4.22 on the Nasdaq.