BUZZ-Incannex surges as anxiety disorder drug succeeds in mid-stage study

Reuters02-28

** Shares of cannabinoid drug developer Incannex Healthcare

rise ~82% to $7.66 premarket

** Company says its experimental therapy being tested to treat generalized anxiety disorder (GAD) significantly reduced severity of anxiety symptoms in a mid-stage study

** GAD is a mental health disorder characterized by excessive, persistent and unrealistic worry about everyday things

** The therapy uses a psychedelic compound called psilocybin

** The study was conducted in 73 patients for a period of 7 weeks - IXHL

** Company has planned a follow-up mid-stage study to be conducted at multiple sites in U.S. and UK

** Up to last close, stock down 56% in the last 12 months

(Reporting by Mariam Sunny in Bengaluru)

((Mariam.ESunny@thomsonreuters.com;))

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