Incannex Healthcare To Repurchase Up To $20 Million In Shares; Stock Up In Pre-market

(RTTNews) - Incannex Healthcare Inc. (IXHL), a clinical-stage biopharmaceutical company, on Friday announced that its board has approved a share repurchase program of up to $20 million of its outstanding common stock.

The company said buybacks may be executed through open-market purchases, privately negotiated transactions, accelerated share repurchase arrangements.

The program reflects the company's commitment to driving sustainable shareholder value while maintaining disciplined capital allocation to support the advancement of its late-stage clinical pipeline.

In the pre-market trading, Incannex Healthcare is 31.6066% higher at $0.6021 on the Nasdaq.