0001213900-25-013783 | 10-Q | XBRL Viewer

Property, Plant and Equipment, Net (Tables)

6 Months Ended

Dec. 31, 2024

Property, Plant and Equipment, Net [Abstract]

Schedule of Property, Plant and Equipment, Net

	December 31, 2024 $			June 30, 2024 $
	(in thousands)
Furniture, fittings and equipment		560			597
Assets under construction		-			-
Total property, plant and equipment, gross		560			597
Accumulated depreciation and amortization		(287	)		(125	)
Total property, plant and equipment, net	$	273		$	472

Assets Pledged as Security for Short-Term Debt - Schedule of Assets Pledged as Security for Short-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Schedule of Assets Pledged as Security for Short-Term Debt [Abstract]
Assets pledged as security for short-term debt	$ 1,383

Trade and Other Payables, Accrued Expenses and Other Current Liabilities

6 Months Ended

Dec. 31, 2024

Trade and Other Payables, Accrued Expenses and Other Current Liabilities [Abstract]

Trade and other payables, accrued expenses and other current liabilities

Note 7 – Trade and other payables, accrued expenses and other current liabilities

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Current liabilities
Trade payables		818		527
Contract liabilities		27		85
Total trade and other payables		845		612

Accrued expenses		3,066		4,512
Employee leave entitlements		369		333
Total accrued expenses and other current liabilities		3,435		4,845
Total Trade and other payables, accrued expenses and other current liabilities		4,280		5,457

Trade and other payables are unsecured, non-interest bearing and are normally settled within 30 days. The carrying amounts are a reasonable approximation of fair value.

Cover - shares	6 Months Ended
Cover - shares	Dec. 31, 2024	Feb. 14, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Entity Information [Line Items]
Entity Registrant Name	Incannex Healthcare Inc.
Entity Central Index Key	0001873875
Entity File Number	001-41106
Entity Tax Identification Number	93-2403210
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	Suite 105
Entity Address, Address Line Two	8 Century Circuit Norwest
Entity Address, City or Town	NSW
Entity Address, Country	AU
Entity Address, Postal Zip Code	2153
Entity Phone Fax Numbers [Line Items]
City Area Code	+61
Local Phone Number	409 840 786
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	IXHL
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		17,859,708

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenue from customers	$ 12		$ 86
Operating expenses:
Research and development	(1,414)	(2,638)	(4,310)	(5,247)
General and administrative	(3,602)	(5,345)	(7,034)	(7,629)
Total operating expenses	(5,016)	(7,983)	(11,344)	(12,876)
Loss from operations	(5,004)	(7,983)	(11,258)	(12,876)
Other income, net:
R&D tax incentive	956	2,727	1,767	6,824
Foreign exchange losses	(326)	(5)	(331)	(6)
Interest income	28	20	57	90
Interest expense	(171)		(171)
Change in fair value of convertible rights	(179)		(179)
Change in fair value of warrant liabilities	(103)		(103)
ELOC commitment fee	(1,095)		(1,095)
Total other income, net	(890)	2,742	(55)	6,908
Loss before income tax expense	(5,894)	(5,241)	(11,313)	(5,968)
Income tax expense
Net loss	(5,894)	(5,241)	(11,313)	(5,968)
Other comprehensive income/(loss):
Currency translation adjustment, net of tax	(414)	927	(75)	418
Total comprehensive loss	$ (6,308)	$ (4,314)	$ (11,388)	$ (5,550)
Net loss per share: Basic (in Dollars per share)	$ (0.33)	$ (0.33)	$ (0.65)	$ (0.38)
Net loss per share: diluted (in Dollars per share)	$ (0.33)	$ (0.33)	$ (0.65)	$ (0.38)
Weighted average number of shares outstanding, basic (in Shares)	17,624,422	15,873,113	17,563,200	15,873,113
Weighted average number of shares outstanding, diluted (in Shares)	17,624,422	15,873,113	17,563,200	15,873,113

Trade and Other Payables, Accrued Expenses and Other Current Liabilities - Schedule of Trade and Other Payables, Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Current liabilities
Trade payables	$ 818	$ 527
Contract liabilities	27	85
Total trade and other payables	845	612
Accrued expenses	3,066	4,512
Employee leave entitlements	369	333
Total accrued expenses and other current liabilities	3,435	4,845
Total Trade and other payables, accrued expenses and other current liabilities	$ 4,280	$ 5,457

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)						3 Months Ended	6 Months Ended
	Jan. 16, 2025	Dec. 09, 2024	Nov. 06, 2024	Oct. 31, 2024	Sep. 06, 2024	Dec. 31, 2024	Dec. 31, 2024	Jun. 30, 2024
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Purchase amount (in Dollars)					$ 9,000,000		$ 3,000,000
Common stock, par value (in Dollars per share)					$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Percentage of purchase price					115.00%
Gross proceeds					7.00%
Shares issuances (in Shares)		142,403
Warrant exercisable shares (in Shares)							453,749
Exercise price per share (in Dollars per share)						$ 1.89	$ 1.89
Principal amount (in Dollars)					$ 10,000,000	$ 3,333,333	$ 3,333,333
Percentage of original issue discount					10.00%		10.00%
Percentage of payment-in-kind interest rate						5.00%	5.00%
Net proceeds (in Dollars)							$ 2,877,588
Resale of common stock (in Shares)			61,389,758
Conversion of issuable shares (in Shares)			10,101,009
September 2024 Debenture [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of purchase price					25.00%
Percentage on closing price					115.00%
ELOC Warrant [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Warrant exercisable shares (in Shares)				585,000
Exercise price per share (in Dollars per share)				$ 1.66
Common Stock [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Shares issuances (in Shares)						142,403	142,403
Conversion of issuable shares (in Shares)			453,749
Arena Global [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Purchase amount (in Dollars)					$ 50,000,000
September 2024 Debenture Warrant [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of purchase price					115.00%
Equity-Line of Credit Purchase Agreement [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of purchase price					96.00%
Subsequent Event [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Shares issuances (in Shares)	10,346

Re-domiciliation and Business (Details)	Dec. 31, 2024 shares
Incannex Australia [Member]
Re-domiciliation and Business [Line Items]
Number of ordinary shares traded	25
Number of share received	100
Incannex Healthcare Limited [Member]
Re-domiciliation and Business [Line Items]
Number of share received	1
Common Stock [Member] \| Incannex Australia [Member]
Re-domiciliation and Business [Line Items]
Number of share received	1

Re-domiciliation and Business - Schedule of Condensed Consolidated Financial Statements (Details)	6 Months Ended
	Dec. 31, 2024
Incannex Healthcare Limited [Member]
Schedule of Condensed Consolidated Financial Statements [Line Items]
Jurisdiction	Victoria, Australia
Incannex Pty Ltd [Member]
Schedule of Condensed Consolidated Financial Statements [Line Items]
Jurisdiction	Victoria, Australia
Psychennex Pty Ltd [Member]
Schedule of Condensed Consolidated Financial Statements [Line Items]
Jurisdiction	Victoria, Australia
APIRx Pharmaceutical USA, LLC [Member]
Schedule of Condensed Consolidated Financial Statements [Line Items]
Jurisdiction	Delaware, United States of America
APIRx Pharmaceuticals Holding BV [Member]
Schedule of Condensed Consolidated Financial Statements [Line Items]
Jurisdiction	IJsselstein, Netherlands
Clarion Clinics Group Pty Ltd [Member]
Schedule of Condensed Consolidated Financial Statements [Line Items]
Jurisdiction	Victoria, Australia
Clarion Model Clinic Pty Ltd [Member]
Schedule of Condensed Consolidated Financial Statements [Line Items]
Jurisdiction	Victoria, Australia
Psychennex Licensing and Franchising Pty Ltd [Member]
Schedule of Condensed Consolidated Financial Statements [Line Items]
Jurisdiction	Victoria, Australia

Loss Per Share

6 Months Ended

Dec. 31, 2024

Loss Per Share [Abstract]

Loss per share

Note 15 – Loss per share

All share and earnings per share amounts presented below reflect the impact of the Re-domiciliation as if it had taken effect on July 1, 2022.

Basic and diluted net loss per share attributable to stockholders was calculated as follows (in thousands, except share and per share amounts):

	For the six months ended December 31,
	2024 $			2023 $
Basic and diluted loss per share – (dollars per share)		(0.65	)		(0.38	)
The loss and weighted average number of Common Stock used in the calculation of basic loss per share is as follows:
Total comprehensive loss for the year (in thousands)		(11,388	)		(5,550	)
- Weighted average number of Common Stock (number)		17,563,200			15,873,113

	For the three months ended December 31,
	2024 $			2023 $
Basic and diluted loss per share – (dollars per share)		(0.33	)		(0.33	)
The loss and weighted average number of Common Stock used in the calculation of basic loss per share is as follows:
Total comprehensive loss for the year (in thousands)		(6,308	)		(4,314	)
- Weighted average number of Common Stock (number)		17,624,422			15,873,113

The Company notes that the diluted loss per share is the same as basic loss per share.

Leases (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2024	Jun. 30, 2024	Jun. 30, 2024
Leases [Abstract]
Operating lease liabilities	$ 96	$ 96	$ 172	$ 200
Weighted-average remaining lease term	1 year 9 months 21 days	1 year 9 months 21 days	2 years 3 months 25 days	2 years 3 months 25 days
Weighted-average remaining discount rate	9.18%	9.18%

Stock-Based Payments

6 Months Ended

Dec. 31, 2024

Stock-Based Payments [Abstract]

Stock-based payments

Note 11 – Stock-based payments

	For the six months ended December 31,
	2024 $		2023 $
	(in thousands)
Research and development		-		-
General and administrative		894		3,597
Total stock-based compensation expense		894		3,597

	For the three months ended December 31,
	2024 $		2023 $
	(in thousands)
Research and development		-		-
General and administrative		435		3,396
Total stock-based compensation expense		435		3,396

Restricted stock units

A summary of the changes in the Company’s restricted stock activity for the period ended December 31, 2024, are as follows:

	Numbers of Shares		Weighted Average Grant Date Fair Value $
	(in thousands, expect per share data)
Unvested and Outstanding as of June 30, 2024		651,939		3.91
Granted		27,795		1.84
Vested		9,265		1.84
Forfeited		-		-
Unvested and Outstanding as of September 30, 2024		670,469		3.86

	Numbers of Shares		Weighted Average Grant Date Fair Value $
	(in thousands, expect per share data)
Unvested and Outstanding as of September 30, 2024		670,469		3.86
Granted		-		-
Vested		-		-
Forfeited		-		-
Unvested and Outstanding as of December 31, 2024		670,469		3.86

Stock options

A summary of the changes in the Company’s stock options activity for the period ended December 31, 2024, are as follows:

	Number of Shares		Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands) ($)
Outstanding as of June 30, 2024		235,008		26.76		1.93		-
Granted		-		-		-		-
Exercised		-		-		-		-
Cancelled or forfeited		-		-		-		-
Outstanding as of September 30, 2024		235,008		28.00		1.93		-
Unvested as of September 30, 2024		14,001		24.26		4.01		-

	Number of Shares		Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands) ($)
Outstanding as of September 30, 2024		235,008		28.00		1.93		-
Granted		-		-		-		-
Exercised		-		-		-		-
Cancelled or forfeited		-		-		-		-
Outstanding as of December 31, 2024		235,008		28.00		1.43		-
Unvested as of December 31, 2024		14,001		24.26		3.5		-

The aggregate intrinsic value of share options is calculated as the difference between the exercise price of the share options and the fair value of the Company’s Common Stock for those options with exercise prices lower than the fair value of the Company’s Common Stock.

As of December 31, 2024, there was $56,727 of unrecognized compensation cost related to unvested share options, which is expected to be recognized over a weighted-average period of 0.5 years.

Stockholder's Equity/Issued Capital

6 Months Ended

Dec. 31, 2024

Stockholder’s Equity/Issued Capital [Abstract]

Stockholder’s equity/Issued capital

Note 10 – Stockholder’s equity/Issued capital

Common Stock

The Company has one class of Common Stock. In connection with the re-domiciliation, the Company’s amended and restated certificate of incorporation became effective, which provides for the issuance of 100,000,000 authorized shares of Common Stock with a par value of $0.0001 per share, with one vote per share. Holders of Common Stock are entitled to receive any dividends as may be declared from time to time by the Company’s board of directors.

On November 28, 2023, the Company effected the Re-domiciliation. All references in these unaudited condensed consolidated financial statements to the Company’s outstanding Common Stock, including per share information, have been retrospectively adjusted to reflect this Re-domiciliation.

- Definition

The entire disclosure for equity.

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+ Details

Stockholder's Equity/Issued Capital (Details) - $ / shares	6 Months Ended
	Dec. 31, 2024	Sep. 06, 2024	Jun. 30, 2024
Stockholder's Equity/Issued Capital [Line Items]
Common stock, shares authorized	100,000,000		100,000,000
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001
Vote per share	one

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Thousands

Dec. 31, 2024

Jun. 30, 2024

Prepaid Expenses and Other Current Assets [Abstract]

Prepayments

^[1]

$ 174

$ 329

GST recoverable

243

178

Total prepaid expenses and other current assets

$ 417

$ 507

[1]	Prepayments consist of prepaid clinical trial insurances, prepaid R&D expenditure relating to PSX-001 and IHL-675A clinical trials and scientific, marketing, and advertising subscription services.

Related Party Transactions

6 Months Ended

Dec. 31, 2024

Related Party Transactions

Note 16 – Related Party Transactions

Transactions between related parties are conducted on commercial terms and conditions, no more favorable than those available to other parties, unless otherwise stated.

There were no amounts payable to any related parties as of December 31, 2024 and June 30, 2024.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Fair Value of Financial Instruments (Details)	6 Months Ended
Fair Value of Financial Instruments (Details)	Dec. 31, 2024 USD ($)
ELOC Warrant [Member]
Fair Value of Financial Instruments [Line Items]
Warrant liability	$ 80,328

Debt (Tables)

6 Months Ended

Dec. 31, 2024

Debt [Abstract]

Schedule of Debt

The table below presents details of the Company’s debt as of the following periods:

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Short-term debt
FC Credit – 14.5% Facility agreement due 2025		1,383		-
Long-term debt
Arena LP – 10% Original discount secured convertible debenture due April 14, 2026		2,385		-

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Dec. 31, 2024

Basis of Presentation and Summary of Significant Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Note 2 – Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation

On November 28, 2023, the Company implemented the transaction to redomicile from Australia to United States and became the parent of Incannex Australia and the wholly owned subsidiaries listed in Note 1. The historical financial statements of Incannex Australia became the historical financial statements of the combined company upon consummation of the Re-domiciliation. As a result, the financial statements included in this report reflect (i) the historical operating results of Incannex Australia and subsidiaries prior to the Re-domiciliation; (ii) the combined results of the Company, Incannex Australia, and subsidiaries following the completion of the Re-domiciliation; and (iii) the Company’s equity structure for all periods presented, including adjusting the issued and outstanding shares of Common Stock to reflect the 100:1 exchange ratio as if it had occurred on July 1, 2022.

The Company’s unaudited condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Prior to the Re-domiciliation, Incannex Australia reported its consolidated financial statements in accordance with International Financial Reporting Standards (“IFRS”). Following the Re-domiciliation, the Company transitioned to U.S. GAAP and applied U.S. GAAP retrospectively for all prior periods presented.

Reference is frequently made herein to the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”). This is the source of authoritative U.S. GAAP recognized by the FASB to be applied to non-governmental entities.

Unaudited Interim Financial Information

In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of December 31, 2024, and its results of operations for the three and six months ended December 31, 2024, and 2023, and cash flows for the three and six months ended December 31, 2024, and 2023. The Company has condensed or omitted certain information and note disclosures normally included in financial statements prepared in accordance with GAAP pursuant to the applicable required disclosures and regulations of the SEC. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on September 30, 2024 (the “2024 Annual Report”).

Going Concern Basis

The Company believes there is substantial doubt about its ability to obtain additional capital when and as needed to continue as a going concern as previously disclosed in the 2024 Annual Report. The Company has not yet established an ongoing source of revenue sufficient to cover its operating and capital expenditure requirements and to cover any potential payments that may become due and payable pursuant to any debentures to provide sufficient certainty that the Company will continue as a going concern. Historically, the Company has financed its operations to date primarily through partnerships, funds received from public offerings of Common Stock, a debt financing facility, as well as funding from governmental bodies. The Company plan to address this condition through the sale of Common Stock in public offerings and/or private placements, debt financings, or through other capital sources, including collaborations with other companies or other strategic transactions, but there is no assurance these plans will be completed successfully or at all. Pursuant to the requirements of ASC 205-40, Presentation of Financial Statements - Going Concern, and as a result of the financial condition and other factors described herein, there is substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the date of this Quarterly Report.

The Company’s independent auditor included a going concern opinion in its audit report, which is part of the 2024 Annual Report, raising substantial doubt about the Company’s ability to continue as a going concern. This doubt may adversely impact the Company’s ability to secure additional financing necessary for its business operations and could materially affect its ability to enter into contractual relationships with third parties. Uncertainty about the Company’s ability to continue as a going concern could materially and adversely affect its liquidity, financial condition, and business prospects.

Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Details of all controlled entities are set out in Note 1. All intercompany balances and transactions have been eliminated on consolidation.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company’s unaudited condensed consolidated financial statements and accompanying notes.

The most significant estimates and assumptions in the Company’s unaudited condensed consolidated financial statements include the valuation of equity-based instruments (including the convertible rights and warrant liabilities) issued, accrued research and development expense, and the research and development tax credit. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ materially from those estimates.

Risks and Uncertainties

The Company is subject to risks and uncertainties common to companies in the biopharmaceutical industry. The Company believes that changes in any of the following areas could have a material adverse effect on future financial position or results of operations: ability to obtain future financing; regulatory approval and market acceptance of, and reimbursement for, product candidates; performance of third-party clinical research organizations and manufacturers upon which the Company relies; protection of the Company’s intellectual property; litigation or claims against the Company based on intellectual property, patent, product, regulatory or other factors; the Company’s ability to attract and retain employees.

There can be no assurance that the Company’s research and development will be successfully completed, that adequate protection for the Company’s intellectual property will be obtained or maintained, that any products developed will obtain necessary government regulatory approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from product sales. The Company operates in an environment of rapid technological change and substantial competition from other pharmaceutical and biotechnology companies. In addition, the Company is dependent upon the services of its employees, consultants and other third parties.

Significant Accounting Policies

The following is provided to update the Company’s significant accounting policies previously disclosed in Note 2 to the consolidated financial statements in the Company’s 2024 Annual Report, reflecting those that have had a material impact on the Company’s unaudited condensed consolidated financial statement and related notes.

Equity-Line of Credit Purchase Agreement

On September 6, 2024, the Company entered into an equity line of credit Purchase Agreement (the “ELOC Purchase Agreement”) with Arena Business Solutions Global SPC II, Ltd (“Arena Global”). Under the ELOC Purchase Agreement, Arena Global has committed to purchase up to $50 million of the Company’s Common Stock par value $0.0001 per share (the “Common Stock”), at the Company’s direction from time to time, subject to the satisfaction of the conditions in the ELOC Purchase Agreement.

The purchase price per share of Common Stock is obtained by multiplying by 96% the daily volume weighted average price (“VWAP”) on The Nasdaq Global Market (“Nasdaq”) for the trading day specified in the sale notice (same trading day or one trading day following such notice) delivered to Arena Global. The ELOC Purchase Agreement will terminate automatically upon the earliest to occur of (i) the first day of the month next following the 36-month anniversary of the date of the ELOC Purchase Agreement; or (ii) the date on which Arena Global shall have purchased shares of Common Stock under the ELOC Purchase Agreement for an aggregate gross purchase price equal to the Commitment Amount (as defined in the ELOC Purchase Agreement). We have also agreed to pay a financial advisor up to 7% of the gross proceeds raised under the ELOC Agreement.

On December 9, 2024, in connection with the ELOC Purchase Agreement, the Company issued 142,403 shares of Common Stock as a commitment fee to Arena Global. On January 16, 2025 the Company issued 10,346 true-up shares of Common Stock to Arena Global. The Company evaluated that the costs incurred in connection with the commitment fee and the true-up shares do not meet the definition of an asset and, therefore, are expensed as incurred.

As additional consideration for Arena Global’s execution and delivery of the ELOC Purchase Agreement, the Company issued a five-year warrant (the “ELOC Warrant”) on October 31, 2024, exercisable for 585,000 shares of Common Stock with an exercise price equal to $1.66 per share.

We determine whether to classify contracts, such as warrants, that may be settled in our own stock as equity of the entity or as a liability. An equity-linked financial instrument must be considered indexed to the Company’s own stock to qualify for equity classification. The Company classifies warrants as liabilities for any contracts that may require a transfer of assets. Warrants classified as liabilities are accounted for at fair value and remeasured at each reporting date until exercise, expiration or modification that results in equity classification. Any change in the fair value of the warrants is recognized in the Consolidated Statements of Operations and Comprehensive Loss.

Refer to Note 12 for the accounting of the ELOC Purchase Agreement.

Convertible Debenture Financing

On September 6, 2024, the Company entered into a Securities Purchase Agreement (the “September 2024 Purchase Agreement”) with Arena Investors, LP (“Arena Investors”), which provides for the issuance of secured convertible debentures in an aggregate principal amount of up to $10 million at an aggregate purchase price of up to $9 million (a 10% original issue discount), divided into three separate tranches, each subject to closing conditions. Under the September 2024 Purchase Agreement, the conversion price of each secured convertible debenture will equal 115% of the closing price of the Common Stock on the trading day preceding the date of the issuance of the respective secured convertible debenture, subject to subsequent adjustments and alternative conversion prices based on the then-current trading price of the Common Stock on Nasdaq, as further detailed in the September 2024 Purchase Agreement. For each secured convertible debenture purchased under the September 2024 Purchase Agreement, the Company will also issue a warrant to the purchaser, exercisable to purchase up to the number of shares of Common Stock equal to 25% of the total principal amount of the related secured convertible debenture, divided by 115% of the closing price of the Company’s Common Stock on the trading day immediately preceding the applicable closing date. The Company is not obligated to issue warrants for any tranche that does not close. The exercise price of each warrant will be 115% of the closing price of the Common Stock on the issuance date, and the warrants will have a five-year term. Additionally, the Company has agreed to pay a financial advisor up to 7% of the gross proceeds raised under the September 2024 Purchase Agreement.

The Company completed the closing of the first tranche under the September 2024 Purchase Agreement for the issuance of a 10% original issue discount secured convertible debenture (the “First Tranche Debenture”) in the principal amount of $3,333,333 at an aggregate purchase price of $3 million (a 10% original issue discount) to Arena Special Opportunities (Offshore) Master II LP (“Arena Opportunities”). The First Tranche Debenture provides for a payment-in-kind interest rate at 5% and matures on April 14, 2026. In addition, the Company issued a warrant to Arena Investors exercisable for up to 453,749 shares of Common Stock (the “First Tranche Warrant”), at an exercise price of $1.89 per share.

The net proceeds received from the issuance of the First Tranche Debenture, after deduction of expenses reimbursable to the Arena Investors, was $2,877,588.

The Company did not meet the closing conditions for the second and third tranche closings set forth in the September 2024 Purchase Agreement; however, the Company and Arena Investors may conduct additional closings under the September 2024 Purchase Agreement, subject to mutual agreement and the closing conditions described therein. There can be no assurance that the parties will reach such an agreement for additional tranche closings.

On November 6, 2024, and as required by our agreements in connection with the First Tranche Debenture, the Company filed a resale Registration Statement on Form S-1/A with the SEC, registering for resale up to 61,389,758 shares of Common Stock, including up to 10,101,009 shares of Common Stock issuable upon conversion of the First Tranche Debenture and up to 453,749 shares of Common Stock issuable upon the exercise of the First Tranche Warrant. This registration statement was declared effective on December 6, 2024.

The Company evaluates its convertible instruments and warrants to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for under ASC 815, Derivatives and Hedging. The classification of derivative instruments, including whether such instruments should be recorded as assets, liabilities, or equity, is reassessed at the end of each reporting period. For equity-linked financial instruments, the Company must determine whether the underlying instrument is indexed to its own Common Stock in order to classify the derivative instrument as equity. Otherwise, the derivative asset or liability, including embedded derivatives, is recognized at fair value with subsequent changes in fair value recognized in the consolidated statements of operations and comprehensive income (loss).

For hybrid instruments, ASC 815-15 requires bifurcation of embedded features if (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The nature of the host instrument is therefore evaluated to determine if it is more akin to a debt-like or equity-like host. In this assessment, the Company considers the stated and implied substantive features of the contract as well as the economic characteristics and risks of the hybrid instrument. Each term and feature are then weighed based on the relevant facts and circumstances to determine the nature of the host contract. Terms and features of the hybrid

Refer to Note 12 and Note 13 for the accounting of the Convertible Debenture.

Fair Value of Financial Instruments

The Company measures certain financial assets and liabilities at fair value in accordance with ASC 820, Fair Value Measurement and Disclosures (“ASC 820”). ASC 820 establishes a hierarchy of valuation techniques based on observability of the inputs used in those valuation techniques. Observable inputs are derived from market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two categories of inputs form the following fair value hierarchy:

Level 1: Quoted prices for identical instruments in active markets;

Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and value drivers are observable in active markets; and

Level 3: Valuations derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.

R&D Tax Incentive Receivable

6 Months Ended

Dec. 31, 2024

R&D Tax Incentive Receivable [Abstract]

R&D tax incentive receivable

Note 5 – R&D tax incentive receivable

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
R&D tax incentive receivable		6,606		9,837

Based on multiple years of tax incentives granted and the successful lodgment of overseas findings related to the Company’s lead assets, the Company revised its estimates for the R&D tax incentive receivable, primarily based on historical experience with similar claims. These amounts exclude the portion of R&D tax incentive receivable pledged as security for the facility agreement as detailed in Note 4.

Stock-Based Payments - Schedule of Stock-Based Payments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Schedule of Stock-Based Payments [Line Items]
Total stock-based compensation expense	$ 435	$ 3,396	$ 894	$ 3,597
Research and development [Member]
Schedule of Stock-Based Payments [Line Items]
Total stock-based compensation expense
General and administrative [Member]
Schedule of Stock-Based Payments [Line Items]
Total stock-based compensation expense	$ 435	$ 3,396	$ 894	$ 3,597

Fair Value of Financial Instruments

6 Months Ended

Dec. 31, 2024

Fair Value of Financial Instruments [Abstract]

Fair value of Financial Instruments

Note 12 – Fair value of Financial Instruments

Cash and cash equivalents, accounts receivable (including assets pledged as security for short-term debt and R&D tax incentive receivable), prepaid expenses and other current assets, accounts payable, accrued expenses, and current liabilities are reflected on the consolidated balance sheets at amounts that approximate fair value because of the short-term nature of these financial assets and liabilities.

The fair value of the Company’s debt approximates its carrying value and is classified as Level 3 within the fair value hierarchy, as it is derived from discounted cash flows using a current borrowing rate.

ELOC Purchase Agreement

The Company evaluated the ELOC Purchase Agreement to determine whether it should be accounted for under ASC 815-40, “Derivatives and Hedging - Contracts on an Entity’s Own Equity,” (“ASC 815-40”) and concluded that it is an equity-linked contract that does not qualify for equity classification. Therefore, it requires fair value accounting as a derivative. The Company has analyzed the terms of the ELOC Purchase Agreement as a freestanding purchased put right and has concluded that it had insignificant value as of December 31, 2024.

ELOC Warrants

Classification of the ELOC Warrants as liability instruments was based on management’s analysis of the guidance in ASC 815 and in a statement issued by the Staff of the SEC regarding the accounting and reporting considerations for warrants issued entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies.”

Management considered whether the ELOC Warrant displayed the three characteristics of a derivative under ASC 815 and concluded that the ELOC Warrant meets the definition of a derivative. However, the ELOC Warrant failed to meet the equity scope exception in ASC 815-10-15-74(a) and thus is classified as a liability measured at fair value, subject to remeasurement at each reporting period. This conclusion is based on the fact that the ELOC Warrant includes certain cash-settlement features in the event of a tender offer, which is outside the control of the Company, and that the exercise price is denominated in a currency other than the reporting entity’s functional currency. As a result, the instrument is not considered to be indexed to the reporting entity’s own stock. The Company measured the ELOC Warrant as a liability at fair value as at each reporting period with changes in fair value recognized as other (income) expense, net in the consolidated statements of operations and comprehensive income (loss).

The ELOC Warrant was classified as a Level 3 financial instrument in the fair value hierarchy and was valued using the Black-Scholes option pricing model (“BSOPM”). The following table presents the fair value of the ELOC Warrant and the valuation assumptions under the BSOPM as of December 31, 2024 and at inception.

	December 31, 2024			At inception
Fair value	$	739			820
Exercise price	$	1.66			1.66
Common stock price	$	2.12			2.27
Expected option term (years)		4.8			5
Expected volatility		60.0	%		60.0	%
Risk free rate of return		4.27	%		4.06	%
Expected annual dividend yield		Nil			Nil

The changes in the fair value of the ELOC Warrant liability resulted in a decrease of $80,328 for the six months ended December 31, 2024.

Convertible Debentures

The Company has accounted for the First Tranche Debenture as a financing transaction, with the net proceeds allocated to the financial instruments issued. Prior to making this allocation, the Company evaluated the First Tranche Debenture under ASC 815, Derivatives and Hedging (“ASC 815”). ASC 815 generally requires an analysis of embedded terms and features that may exhibit characteristics of derivatives, to determine if bifurcation and separate accounting are necessary when their economic risks and characteristics are not clearly and closely related to the risks of the host contract.

The Company evaluated that the conversion right of the First Tranche Debenture meets the definition of a derivative under ASC 815-10-15-83. Furthermore, the Company determined that the conversion right of the First Tranche Debenture requires bifurcation from the debt host, as it fails to meet the equity scope exception in ASC 815-10-15-74(a) and thus is classified as a liability, measured at fair value, and subject to remeasurement at each reporting period.

The Company evaluated that the First Tranche Warrant is a detachable freestanding instrument. The First Tranche Warrant includes certain cash settlement features in the event of a tender offer, which are outside the Company’s control, and the exercise price is denominated in a currency (USD) other than the reporting entity’s functional currency (AUD). As a result, it fails to meet the equity scope exception in ASC 815-10-15-74(a), and is not considered indexed to the reporting entity’s own stock. As such, the First Tranche Warrant is classified as a liability and measured at fair value, with changes in fair value each period reported in earnings.

The proceeds from issuing the First Tranche Debenture were allocated first to the First Tranche Warrant based on its fair value. The remaining proceeds allocated to the debt instrument were then further allocated between the debt host contract and the bifurcated derivative, based on the fair value of that derivative as prescribed by ASC 815-15-30-2.

The proceeds of the transaction were initially allocated as follows:

	Amount
	(in thousands)
10% Original issue discount		333
Conversion rights (liability) at fair value		302
First Tranche Warrants (liability) at fair value		365
Debt issuance costs		122
Debt liability host		2,211
Face value		3,333

Debt discount and the debt issuance costs were capitalized to the carrying amount of the debt. Such costs are presented on the balance sheet as a direct deduction from that debt liability host.

The First Tranche Warrant was classified as a Level 3 financial instrument in the fair value hierarchy and were valued using the BSOPM. The following table presents the fair value of the First Tranche Warrant and the valuation assumptions under the BSOPM as of December 31, 2024, and at inception.

	December 31, 2024			At inception
Fair value	$	547		$	365
Exercise price	$	1.89		$	1.89
Common stock price	$	2.12		$	1.60
Expected option term (years)		4.7			4.9
Expected volatility		60.0	%		60.0	%
Risk free rate of return		4.28	%		3.81	%
Expected annual dividend yield		Nil			Nil

The conversion right of the First Tranche Debenture classified as a Level 3 financial instrument within the fair value hierarchy and were valued using the Monte Carlo option pricing model (“MCSOPM”). The following table presents the fair value of the conversion right of the First Tranche Debenture and the valuation assumptions under the MCSOPM as of December 31, 2024 and at inception.

	December 31, 2024			At inception
Fair value	$	477		$	300
Exercise price	$	1.84		$	1.84
Common stock price	$	2.12		$	1.64
Expected option term (years)		1.3			1.5
Expected volatility		60.0	%		60.0	%
Risk free rate of return		4.10	%		3.98	%
Expected annual dividend yield		Nil			Nil

For subsequent measurement of the debt host, refer to Note 13.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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+ Details

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Jun. 30, 2024	Jun. 30, 2024
Schedule of Lease Costs [Abstract]
Lease term (years)	1 year 9 months 21 days	1 year 9 months 21 days	2 years 3 months 25 days	2 years 3 months 25 days
Discount rate	9.18%	9.18%	9.18%	9.18%
Operating lease cost	$ 96	$ 96	$ 172	$ 200

Condensed Consolidated Statements of Stockholders’ Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional paid-in capital	Accumulated deficit	Foreign currency translation reserve	Total
Balance at Jun. 30, 2023	$ 2	$ 116,290	$ (92,212)	$ (3,255)	$ 20,825
Balance (in Shares) at Jun. 30, 2023	15,873,113
Stock-based compensation		3,597			3,597
Share issuance
Net loss			(5,968)		(5,968)
Currency translation adjustment, net of tax				418	418
Balance at Dec. 31, 2023	$ 2	119,887	(98,180)	(2,837)	18,872
Balance (in Shares) at Dec. 31, 2023	15,873,113
Balance at Sep. 30, 2023	$ 2	116,491	(92,939)	(3,764)	19,790
Balance (in Shares) at Sep. 30, 2023	15,873,113
Stock-based compensation		3,396			3,396
Share issuance
Net loss			(5,241)		(5,241)
Currency translation adjustment, net of tax				927	927
Balance at Dec. 31, 2023	$ 2	119,887	(98,180)	(2,837)	18,872
Balance (in Shares) at Dec. 31, 2023	15,873,113
Balance at Jun. 30, 2024	$ 2	125,218	(110,671)	(3,332)	11,217
Balance (in Shares) at Jun. 30, 2024	17,642,832
Stock-based compensation		894			894
Share issuance		242			242
Share issuance (in Shares)	142,403
Net loss			(11,313)		(11,313)
Currency translation adjustment, net of tax				(75)	(75)
Balance at Dec. 31, 2024	$ 2	126,354	(121,984)	(3,407)	965
Balance (in Shares) at Dec. 31, 2024	17,785,235
Balance at Sep. 30, 2024	$ 2	125,677	(116,090)	(2,993)	6,596
Balance (in Shares) at Sep. 30, 2024	17,642,832
Stock-based compensation		435			435
Share issuance		242			242
Share issuance (in Shares)	142,403
Net loss			(5,894)		(5,894)
Currency translation adjustment, net of tax				(414)	(414)
Balance at Dec. 31, 2024	$ 2	$ 126,354	$ (121,984)	$ (3,407)	$ 965
Balance (in Shares) at Dec. 31, 2024	17,785,235

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Stock-Based Payments - Schedule of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Dec. 30, 2024	Sep. 30, 2024
Schedule of Restricted Stock Units [Line Items]
Numbers of Shares, Unvested and Outstanding Beginning	670,469	651,939
Weighted Average Grant Date Fair Value, Unvested and Outstanding Beginning	$ 3.86	$ 3.91
Numbers of Shares, Granted		27,795
Weighted Average Grant Date Fair Value, Granted		$ 1.84
Numbers of Shares, Vested		9,265
Weighted Average Grant Date Fair Value,Vested		$ 1.84
Numbers of Shares, Forfeited
Weighted Average Grant Date Fair Value, Forfeited
Numbers of Shares, Unvested and Outstanding Ending	670,469	670,469
Weighted Average Grant Date Fair Value, Unvested and Outstanding Ending	$ 3.86	$ 3.86

Debt - Schedule of Debt (Parentheticals) (Details)	Dec. 31, 2024	Jun. 30, 2024
Schedule of Debt [Abstract]
Facility agreement due 2025	14.50%	14.50%
Original discount secured convertible debenture due	10.00%	10.00%

Accounting Policies, by Policy (Policies)	6 Months Ended
Accounting Policies, by Policy (Policies)	Dec. 31, 2024
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	*Basis of Presentation* On November 28, 2023, the Company implemented the transaction to redomicile from Australia to United States and became the parent of Incannex Australia and the wholly owned subsidiaries listed in Note 1. The historical financial statements of Incannex Australia became the historical financial statements of the combined company upon consummation of the Re-domiciliation. As a result, the financial statements included in this report reflect (i) the historical operating results of Incannex Australia and subsidiaries prior to the Re-domiciliation; (ii) the combined results of the Company, Incannex Australia, and subsidiaries following the completion of the Re-domiciliation; and (iii) the Company’s equity structure for all periods presented, including adjusting the issued and outstanding shares of Common Stock to reflect the 100:1 exchange ratio as if it had occurred on July 1, 2022. The Company’s unaudited condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the SEC. Prior to the Re-domiciliation, Incannex Australia reported its consolidated financial statements in accordance with International Financial Reporting Standards (“IFRS”). Following the Re-domiciliation, the Company transitioned to U.S. GAAP and applied U.S. GAAP retrospectively for all prior periods presented. Reference is frequently made herein to the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”). This is the source of authoritative U.S. GAAP recognized by the FASB to be applied to non-governmental entities.
Unaudited Interim Financial Information	*Unaudited Interim Financial Information* In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of December 31, 2024, and its results of operations for the three and six months ended December 31, 2024, and 2023, and cash flows for the three and six months ended December 31, 2024, and 2023. The Company has condensed or omitted certain information and note disclosures normally included in financial statements prepared in accordance with GAAP pursuant to the applicable required disclosures and regulations of the SEC. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on September 30, 2024 (the “2024 Annual Report”).
Going Concern Basis	*Going Concern Basis* The Company believes there is substantial doubt about its ability to obtain additional capital when and as needed to continue as a going concern as previously disclosed in the 2024 Annual Report. The Company has not yet established an ongoing source of revenue sufficient to cover its operating and capital expenditure requirements and to cover any potential payments that may become due and payable pursuant to any debentures to provide sufficient certainty that the Company will continue as a going concern. Historically, the Company has financed its operations to date primarily through partnerships, funds received from public offerings of Common Stock, a debt financing facility, as well as funding from governmental bodies. The Company plan to address this condition through the sale of Common Stock in public offerings and/or private placements, debt financings, or through other capital sources, including collaborations with other companies or other strategic transactions, but there is no assurance these plans will be completed successfully or at all. Pursuant to the requirements of ASC 205-40, Presentation of Financial Statements - Going Concern, and as a result of the financial condition and other factors described herein, there is substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the date of this Quarterly Report. The Company’s independent auditor included a going concern opinion in its audit report, which is part of the 2024 Annual Report, raising substantial doubt about the Company’s ability to continue as a going concern. This doubt may adversely impact the Company’s ability to secure additional financing necessary for its business operations and could materially affect its ability to enter into contractual relationships with third parties. Uncertainty about the Company’s ability to continue as a going concern could materially and adversely affect its liquidity, financial condition, and business prospects.
Principles of Consolidation	*Principles of Consolidation* The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Details of all controlled entities are set out in Note 1. All intercompany balances and transactions have been eliminated on consolidation.
Use of Estimates	*Use of Estimates* The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company’s unaudited condensed consolidated financial statements and accompanying notes. The most significant estimates and assumptions in the Company’s unaudited condensed consolidated financial statements include the valuation of equity-based instruments (including the convertible rights and warrant liabilities) issued, accrued research and development expense, and the research and development tax credit. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ materially from those estimates.
Risks and Uncertainties	*Risks and Uncertainties* The Company is subject to risks and uncertainties common to companies in the biopharmaceutical industry. The Company believes that changes in any of the following areas could have a material adverse effect on future financial position or results of operations: ability to obtain future financing; regulatory approval and market acceptance of, and reimbursement for, product candidates; performance of third-party clinical research organizations and manufacturers upon which the Company relies; protection of the Company’s intellectual property; litigation or claims against the Company based on intellectual property, patent, product, regulatory or other factors; the Company’s ability to attract and retain employees. There can be no assurance that the Company’s research and development will be successfully completed, that adequate protection for the Company’s intellectual property will be obtained or maintained, that any products developed will obtain necessary government regulatory approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from product sales. The Company operates in an environment of rapid technological change and substantial competition from other pharmaceutical and biotechnology companies. In addition, the Company is dependent upon the services of its employees, consultants and other third parties.
Significant Accounting Policies	*Significant Accounting Policies* The following is provided to update the Company’s significant accounting policies previously disclosed in Note 2 to the consolidated financial statements in the Company’s 2024 Annual Report, reflecting those that have had a material impact on the Company’s unaudited condensed consolidated financial statement and related notes. Equity-Line of Credit Purchase Agreement On September 6, 2024, the Company entered into an equity line of credit Purchase Agreement (the “ELOC Purchase Agreement”) with Arena Business Solutions Global SPC II, Ltd (“Arena Global”). Under the ELOC Purchase Agreement, Arena Global has committed to purchase up to $50 million of the Company’s Common Stock par value $0.0001 per share (the “Common Stock”), at the Company’s direction from time to time, subject to the satisfaction of the conditions in the ELOC Purchase Agreement. The purchase price per share of Common Stock is obtained by multiplying by 96% the daily volume weighted average price (“VWAP”) on The Nasdaq Global Market (“Nasdaq”) for the trading day specified in the sale notice (same trading day or one trading day following such notice) delivered to Arena Global. The ELOC Purchase Agreement will terminate automatically upon the earliest to occur of (i) the first day of the month next following the 36-month anniversary of the date of the ELOC Purchase Agreement; or (ii) the date on which Arena Global shall have purchased shares of Common Stock under the ELOC Purchase Agreement for an aggregate gross purchase price equal to the Commitment Amount (as defined in the ELOC Purchase Agreement). We have also agreed to pay a financial advisor up to 7% of the gross proceeds raised under the ELOC Agreement. On December 9, 2024, in connection with the ELOC Purchase Agreement, the Company issued 142,403 shares of Common Stock as a commitment fee to Arena Global. On January 16, 2025 the Company issued 10,346 true-up shares of Common Stock to Arena Global. The Company evaluated that the costs incurred in connection with the commitment fee and the true-up shares do not meet the definition of an asset and, therefore, are expensed as incurred. As additional consideration for Arena Global’s execution and delivery of the ELOC Purchase Agreement, the Company issued a five-year warrant (the “ELOC Warrant”) on October 31, 2024, exercisable for 585,000 shares of Common Stock with an exercise price equal to $1.66 per share. We determine whether to classify contracts, such as warrants, that may be settled in our own stock as equity of the entity or as a liability. An equity-linked financial instrument must be considered indexed to the Company’s own stock to qualify for equity classification. The Company classifies warrants as liabilities for any contracts that may require a transfer of assets. Warrants classified as liabilities are accounted for at fair value and remeasured at each reporting date until exercise, expiration or modification that results in equity classification. Any change in the fair value of the warrants is recognized in the Consolidated Statements of Operations and Comprehensive Loss. Refer to Note 12 for the accounting of the ELOC Purchase Agreement. Convertible Debenture Financing On September 6, 2024, the Company entered into a Securities Purchase Agreement (the “September 2024 Purchase Agreement”) with Arena Investors, LP (“Arena Investors”), which provides for the issuance of secured convertible debentures in an aggregate principal amount of up to $10 million at an aggregate purchase price of up to $9 million (a 10% original issue discount), divided into three separate tranches, each subject to closing conditions. Under the September 2024 Purchase Agreement, the conversion price of each secured convertible debenture will equal 115% of the closing price of the Common Stock on the trading day preceding the date of the issuance of the respective secured convertible debenture, subject to subsequent adjustments and alternative conversion prices based on the then-current trading price of the Common Stock on Nasdaq, as further detailed in the September 2024 Purchase Agreement. For each secured convertible debenture purchased under the September 2024 Purchase Agreement, the Company will also issue a warrant to the purchaser, exercisable to purchase up to the number of shares of Common Stock equal to 25% of the total principal amount of the related secured convertible debenture, divided by 115% of the closing price of the Company’s Common Stock on the trading day immediately preceding the applicable closing date. The Company is not obligated to issue warrants for any tranche that does not close. The exercise price of each warrant will be 115% of the closing price of the Common Stock on the issuance date, and the warrants will have a five-year term. Additionally, the Company has agreed to pay a financial advisor up to 7% of the gross proceeds raised under the September 2024 Purchase Agreement. The Company completed the closing of the first tranche under the September 2024 Purchase Agreement for the issuance of a 10% original issue discount secured convertible debenture (the “First Tranche Debenture”) in the principal amount of $3,333,333 at an aggregate purchase price of $3 million (a 10% original issue discount) to Arena Special Opportunities (Offshore) Master II LP (“Arena Opportunities”). The First Tranche Debenture provides for a payment-in-kind interest rate at 5% and matures on April 14, 2026. In addition, the Company issued a warrant to Arena Investors exercisable for up to 453,749 shares of Common Stock (the “First Tranche Warrant”), at an exercise price of $1.89 per share. The net proceeds received from the issuance of the First Tranche Debenture, after deduction of expenses reimbursable to the Arena Investors, was $2,877,588. The Company did not meet the closing conditions for the second and third tranche closings set forth in the September 2024 Purchase Agreement; however, the Company and Arena Investors may conduct additional closings under the September 2024 Purchase Agreement, subject to mutual agreement and the closing conditions described therein. There can be no assurance that the parties will reach such an agreement for additional tranche closings. On November 6, 2024, and as required by our agreements in connection with the First Tranche Debenture, the Company filed a resale Registration Statement on Form S-1/A with the SEC, registering for resale up to 61,389,758 shares of Common Stock, including up to 10,101,009 shares of Common Stock issuable upon conversion of the First Tranche Debenture and up to 453,749 shares of Common Stock issuable upon the exercise of the First Tranche Warrant. This registration statement was declared effective on December 6, 2024. The Company evaluates its convertible instruments and warrants to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for under ASC 815, Derivatives and Hedging. The classification of derivative instruments, including whether such instruments should be recorded as assets, liabilities, or equity, is reassessed at the end of each reporting period. For equity-linked financial instruments, the Company must determine whether the underlying instrument is indexed to its own Common Stock in order to classify the derivative instrument as equity. Otherwise, the derivative asset or liability, including embedded derivatives, is recognized at fair value with subsequent changes in fair value recognized in the consolidated statements of operations and comprehensive income (loss). For hybrid instruments, ASC 815-15 requires bifurcation of embedded features if (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The nature of the host instrument is therefore evaluated to determine if it is more akin to a debt-like or equity-like host. In this assessment, the Company considers the stated and implied substantive features of the contract as well as the economic characteristics and risks of the hybrid instrument. Each term and feature are then weighed based on the relevant facts and circumstances to determine the nature of the host contract. Terms and features of the hybrid Refer to Note 12 and Note 13 for the accounting of the Convertible Debenture. Fair Value of Financial Instruments The Company measures certain financial assets and liabilities at fair value in accordance with ASC 820, Fair Value Measurement and Disclosures (“ASC 820”). ASC 820 establishes a hierarchy of valuation techniques based on observability of the inputs used in those valuation techniques. Observable inputs are derived from market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two categories of inputs form the following fair value hierarchy: Level 1: Quoted prices for identical instruments in active markets; Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and value drivers are observable in active markets; and Level 3: Valuations derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.

Debt (Details) - USD ($) $ in Millions			6 Months Ended
Debt (Details) - USD ($) $ in Millions	Oct. 10, 2024	Oct. 09, 2024	Dec. 31, 2024	Jun. 30, 2024
Debt [Line Items]
Short-term debt			14.50%	14.50%
Initial drawdown amount (in Dollars)	$ 4.3
Facility agreement due			48.50%
Long-term debt			10.00%	10.00%
FC Credit [Member]
Debt [Line Items]
Short-term debt			14.50%
Initial drawdown amount (in Dollars)		$ 6.9
Original Discount Secured Convertible Debenture Due [Member]
Debt [Line Items]
Long-term debt			10.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

R&D Tax Incentive Receivable (Tables)

6 Months Ended

Dec. 31, 2024

R&D Tax Incentive Receivable [Abstract]

Schedule of R&D Tax Incentive Receivable

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
R&D tax incentive receivable		6,606		9,837

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Re-domiciliation and Business

6 Months Ended

Dec. 31, 2024

Re-domiciliation and Business [Abstract]

Re-domiciliation and Business

Note 1 – Re-domiciliation and Business

Incannex Healthcare Inc. (the “Company”) is a corporation formed under the laws of Delaware in July 2023. In November 2023, Incannex Healthcare Inc. acquired all the outstanding ordinary shares of Incannex Healthcare Limited, an Australian corporation (“Incannex Australia”), pursuant to a scheme of arrangement under Australian law (the “Re-domiciliation”). As a result of the Re-domiciliation, Incannex Australia became a wholly-owned subsidiary of Incannex Healthcare Inc., which is the new ultimate parent company.

Until the Re-domiciliation, Incannex Australia’s ordinary shares were listed on the Australian Securities Exchange (“ASX”) and American Depositary Shares (“ADSs”), each representing 25 ordinary shares of Incannex Australia, traded on Nasdaq. Following completion of the Re-domiciliation, Incannex Australia’s ordinary shares were delisted from the ASX and Incannex Healthcare Inc. assumed Incannex Australia’s listing on Nasdaq.

Pursuant to the Re-domiciliation, holders of Incannex Australia’s ordinary shares received one share of Common Stock in Incannex Healthcare Inc. for every 100 ordinary shares held in Incannex Australia and holders of ADSs in Incannex Australia received one share of Common Stock of Incannex Healthcare Inc. for every 4 ADSs held in Incannex Australia.

The issued and outstanding shares of the Company’s Common Stock as shown in this report have been adjusted in the consolidated financial statements to reflect the 100:1 exchange ratio as if it had occurred on July 1, 2022.

Incannex Healthcare Inc. and its subsidiaries are referred to as “the Company” unless the text otherwise requires.

The Company’s fiscal year end is June 30. References to a particular “fiscal year” are to the Company’s fiscal year ended June 30 of that calendar year.

The unaudited condensed consolidated financial statements of the Company are presented in United States dollars and consist of Incannex Healthcare Inc. and the following wholly-owned subsidiaries:

Subsidiary		Jurisdiction
Incannex Healthcare Limited		Victoria, Australia
Incannex Pty Ltd		Victoria, Australia
Psychennex Pty Ltd		Victoria, Australia
APIRx Pharmaceutical USA, LLC		Delaware, United States of America
APIRx Pharmaceuticals Holding BV		IJsselstein, Netherlands
Clarion Clinics Group Pty Ltd		Victoria, Australia
Clarion Model Clinic Pty Ltd		Victoria, Australia
Psychennex Licensing and Franchising Pty Ltd		Victoria, Australia

Assets Pledged as Security for Short-Term Debt

6 Months Ended

Dec. 31, 2024

Assets Pledged as Security for Short-Term Debt [Abstract]

Assets pledged as security for short-term debt

Note 4 – Assets pledged as security for short-term debt

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Assets pledged as security for short-term debt		1,383		-

The amount consists of R&D tax incentive receivables, as detailed under Note 5, which have been pledged to FC Credit Pty Ltd (“FC Credit”) as part of the facility agreement detailed under Note 12.

R&D Tax Incentive Receivable - Schedule of R&D Tax Incentive Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Schedule of R&D Tax Incentive Receivable [Abstract]
R&D tax incentive receivable	$ 6,606	$ 9,837

Fair Value of Financial Instruments - Schedule of Transaction were Initially Allocated (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($)
Schedule of Transaction were Initially Allocated [Line Items]
Face value	$ 3,333
Original issue discount [Member]
Schedule of Transaction were Initially Allocated [Line Items]
Face value	333
Conversion rights (liability) at fair value [Member]
Schedule of Transaction were Initially Allocated [Line Items]
Face value	302
First Tranche Warrants (liability) at fair value [Member]
Schedule of Transaction were Initially Allocated [Line Items]
Face value	365
Debt issuance costs [Member]
Schedule of Transaction were Initially Allocated [Line Items]
Face value	122
Debt liability host [Member]
Schedule of Transaction were Initially Allocated [Line Items]
Face value	$ 2,211

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Stock-Based Payments - Schedule of Stock Options Activity (Details) - USD ($)			3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2024	Sep. 30, 2024
Schedule of Stock Options [Abstract]
Number of Shares, Outstanding balance	235,008	235,008	235,008	235,008
Weighted Average Exercise Price, Outstanding balance (in Dollars per share)	$ 28	$ 26.76	$ 28	$ 28
Weighted Average Remaining Contractual Term, Outstanding balance	1 year 11 months 4 days	1 year 11 months 4 days	1 year 5 months 4 days	1 year 11 months 4 days
Aggregate Intrinsic Value, Outstanding balance (in Dollars)
Number of Shares, Unvested	14,001		14,001	14,001
Weighted Average Exercise Price, Unvested (in Dollars per share)	$ 24.26		$ 24.26	$ 24.26
Weighted Average Remaining Contractual Term, Unvested			3 years 6 months	4 years 3 days
Aggregate Intrinsic Value, Unvested (in Dollars)
Number of Shares, Granted
Weighted Average Exercise Price, Granted (in Dollars per share)
Number of Shares, Exercised
Weighted Average Exercise Price, Exercised (in Dollars per share)
Number of Shares, Cancelled or forfeited
Weighted Average Exercise Price, Cancelled or forfeited (in Dollars per share)
Weighted Average Remaining Contractual Term, Cancelled or forfeited

Prepaid Expenses and Other Current Assets (Tables)

6 Months Ended

Dec. 31, 2024

Prepaid Expenses and Other Current Assets [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Prepayments¹		174		329
GST recoverable		243		178
Total prepaid expenses and other current assets		417		507

¹	Prepayments consist of prepaid clinical trial insurances, prepaid R&D expenditure relating to PSX-001 and IHL-675A clinical trials and scientific, marketing, and advertising subscription services.

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Schedule of Future Minimum Lease Payments [Abstract]
June 30, 2025	$ 98
June 30, 2026	189
June 30, 2027	45
June 30, 2028	30
Total minimum lease payments	363
Less amount representing interest	34
Total operating lease liabilities	$ 329

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (5,894)	$ (5,241)	$ (11,313)	$ (5,968)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Debt

6 Months Ended

Dec. 31, 2024

Debt [Abstract]

Debt

Note 13 – Debt

The table below presents details of the Company’s debt as of the following periods:

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Short-term debt
FC Credit – 14.5% Facility agreement due 2025		1,383		-
Long-term debt
Arena LP – 10% Original discount secured convertible debenture due April 14, 2026		2,385		-

FC Credit – 14.5% Facility agreement due 2025

On October 9, 2024, the Company entered into a Facility Agreement with FC Credit, under which, the Company received approximately A$6.9 million (USD$4.3 million) on October 10, 2024, as the initial drawdown amount.

This facility provides the Company with immediate access to funds based on R&D expenses incurred during the 2023 and 2024 financial years, aligning with the end of the Australian financial year. The Research and Development Tax Incentive (“RDTI”) program is a key program under the Australian government's innovation framework, designed to encourage companies to undertake R&D activities that benefit Australia. It offers a tax rebate, currently at 48.5%, for eligible R&D expenses, enabling companies to recover nearly half of their R&D spending.

Arena LP – 10% Original discount secured convertible debenture due April 14, 2026

For initial recognition of the long-term debt, refer to Note 12. For more information on the September 2024 Debenture, refer to Note 2. The value allocated to the debt at initial recognition is classified as a liability and accreted or amortized to par value.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Leases

6 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

Note 8 – Leases

During fiscal year 2023, the Company entered into three new lease agreements for its corporate head office in Sydney, Melbourne office and Clarion Clinic site. The leases have four-, five-, and three-year terms respectively. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain of these leases provide renewal options at the Company’s discretion, allowing the Company to renew or extend the lease for an additional three to five years. These optional renewal periods have not been included in the determination of the right-of-use assets or lease liabilities related to these leases, as the Company has not determined it reasonably certain it will exercise the renewal options.

The following table summarizes the weighted-average remaining lease term and discount rates for the Company’s operating leases:

	December 31, 2024			June 30, 2024
Lease term (years)		1.81			2.32

Discount rate		9.18	%		9.18	%

The following table summarizes the lease costs pertaining to the Company’s operating leases:

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Operating lease cost		96		172

Cash paid for amounts included in the measurement of operating lease liabilities during the three and six months ended December 31, 2024 and fiscal year June 30, 2024 was $96,000 and $0.2 million, respectively, and was included within net cash used in operating activities in the cash flows.

The following table summarizes the future minimum lease payments due under operating leases as of December 31, 2024, (in thousands):

	Amount $
Operating leases	(in thousands)
June 30, 2025		98
June 30, 2026		189
June 30, 2027		45
June 30, 2028		30

Total minimum lease payments		363

Less amount representing interest		34

Total operating lease liabilities		329

As of December 31, 2024, the Company’s operating lease has a weighted-average remaining lease term of 1.81 years and a discount rate of 9.18%.

Stock-Based Payments (Tables)

6 Months Ended

Dec. 31, 2024

Stock-Based Payments [Abstract]

Schedule of Stock-Based Payments

	For the six months ended December 31,
	2024 $		2023 $
	(in thousands)
Research and development		-		-
General and administrative		894		3,597
Total stock-based compensation expense		894		3,597

	For the three months ended December 31,
	2024 $		2023 $
	(in thousands)
Research and development		-		-
General and administrative		435		3,396
Total stock-based compensation expense		435		3,396

Schedule of Restricted Stock Activity

A summary of the changes in the Company’s restricted stock activity for the period ended December 31, 2024, are as follows:

	Numbers of Shares		Weighted Average Grant Date Fair Value $
	(in thousands, expect per share data)
Unvested and Outstanding as of June 30, 2024		651,939		3.91
Granted		27,795		1.84
Vested		9,265		1.84
Forfeited		-		-
Unvested and Outstanding as of September 30, 2024		670,469		3.86

	Numbers of Shares		Weighted Average Grant Date Fair Value $
	(in thousands, expect per share data)
Unvested and Outstanding as of September 30, 2024		670,469		3.86
Granted		-		-
Vested		-		-
Forfeited		-		-
Unvested and Outstanding as of December 31, 2024		670,469		3.86

Schedule of Stock Options Activity

A summary of the changes in the Company’s stock options activity for the period ended December 31, 2024, are as follows:

	Number of Shares		Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands) ($)
Outstanding as of June 30, 2024		235,008		26.76		1.93		-
Granted		-		-		-		-
Exercised		-		-		-		-
Cancelled or forfeited		-		-		-		-
Outstanding as of September 30, 2024		235,008		28.00		1.93		-
Unvested as of September 30, 2024		14,001		24.26		4.01		-

	Number of Shares		Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands) ($)
Outstanding as of September 30, 2024		235,008		28.00		1.93		-
Granted		-		-		-		-
Exercised		-		-		-		-
Cancelled or forfeited		-		-		-		-
Outstanding as of December 31, 2024		235,008		28.00		1.43		-
Unvested as of December 31, 2024		14,001		24.26		3.5		-

Re-domiciliation and Business (Tables)

6 Months Ended

Dec. 31, 2024

Re-domiciliation and Business [Abstract]

Schedule of Condensed Consolidated Financial Statements

The unaudited condensed consolidated financial statements of the Company are presented in United States dollars and consist of Incannex Healthcare Inc. and the following wholly-owned subsidiaries:

Subsidiary		Jurisdiction
Incannex Healthcare Limited		Victoria, Australia
Incannex Pty Ltd		Victoria, Australia
Psychennex Pty Ltd		Victoria, Australia
APIRx Pharmaceutical USA, LLC		Delaware, United States of America
APIRx Pharmaceuticals Holding BV		IJsselstein, Netherlands
Clarion Clinics Group Pty Ltd		Victoria, Australia
Clarion Model Clinic Pty Ltd		Victoria, Australia
Psychennex Licensing and Franchising Pty Ltd		Victoria, Australia

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Property, Plant and Equipment, Net [Abstract]
Furniture, fittings and equipment	$ 560	$ 597
Assets under construction
Total property, plant and equipment, gross	560	597
Accumulated depreciation and amortization	(287)	(125)
Total property, plant and equipment, net	$ 273	$ 472

Property, Plant and Equipment, Net

6 Months Ended

Dec. 31, 2024

Property, Plant and Equipment, Net [Abstract]

Property, Plant and Equipment, net

Note 6 – Property, Plant and Equipment, net

	December 31, 2024 $			June 30, 2024 $
	(in thousands)
Furniture, fittings and equipment		560			597
Assets under construction		-			-
Total property, plant and equipment, gross		560			597
Accumulated depreciation and amortization		(287	)		(125	)
Total property, plant and equipment, net	$	273		$	472

Depreciation expense is recorded within general and administrative in the unaudited condensed consolidated statements of operations and comprehensive loss and amounted to $0.2 million and $25,000 for the three and six months ended December 31, 2024 and 2023, respectively.

Commitments and Contingencies

6 Months Ended

Dec. 31, 2024

Commitments and Contingencies [Abstarct]

Commitments and contingencies

Note 9 – Commitments and contingencies

The Company records a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company also discloses material contingencies when it believes a loss is not probable but reasonably possible. Accounting for contingencies requires the Company to use judgment related to both the likelihood of a loss and the estimate of the amount or range of loss. Although the Company cannot predict with assurance the outcome of any litigation or tax matters, it does not believe there are currently any such actions that, if resolved unfavorably, would have a material impact on the Company’s operating results, financial position, or cash flows.

Assets Pledged as Security for Short-Term Debt (Tables)

6 Months Ended

Dec. 31, 2024

Assets Pledged as Security for Short-Term Debt [Abstract]

Schedule of Assets Pledged as Security for Short-Term Debt

Assets pledged as security for short-term debt

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Assets pledged as security for short-term debt		1,383		-

Related Party Transactions (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024
Related Party [Member]
Related Party Transactions [Line Items]
Payable to any related parties

- Definition

Amount of liabilities classified as other.

+ References + Details

Loss Per Share (Tables)

6 Months Ended

Dec. 31, 2024

Loss Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share Attributable to Stockholders

Basic and diluted net loss per share attributable to stockholders was calculated as follows (in thousands, except share and per share amounts):

	For the six months ended December 31,
	2024 $			2023 $
Basic and diluted loss per share – (dollars per share)		(0.65	)		(0.38	)
The loss and weighted average number of Common Stock used in the calculation of basic loss per share is as follows:
Total comprehensive loss for the year (in thousands)		(11,388	)		(5,550	)
- Weighted average number of Common Stock (number)		17,563,200			15,873,113

	For the three months ended December 31,
	2024 $			2023 $
Basic and diluted loss per share – (dollars per share)		(0.33	)		(0.33	)
The loss and weighted average number of Common Stock used in the calculation of basic loss per share is as follows:
Total comprehensive loss for the year (in thousands)		(6,308	)		(4,314	)
- Weighted average number of Common Stock (number)		17,624,422			15,873,113

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment, Net [Abstract]
Depreciation expense	$ 200	$ 25	$ 200	$ 25

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents	$ 2,098	$ 5,858
Prepaid expenses and other assets	417	507
Assets pledged as security for short-term debt	1,383
Research and Development (“R&D”) tax incentive receivable	6,606	9,837
Total current assets	10,504	16,202
Property, plant and equipment, net	273	472
Operating lease right-of-use assets	329	373
Total assets	11,106	17,047
Current liabilities:
Trade and other payables	845	612
Accrued expenses and other current liabilities	3,435	4,845
Short-term debt	1,383
Operating lease liabilities, current	177	163
Total current liabilities	5,840	5,620
Operating lease liabilities, non-current	152	210
Long-term debt	2,385
Warrant liabilities	1,286
Convertible rights	478
Total liabilities	10,141	5,830
Commitments and contingencies (Note 8)
Stockholders’ equity:
Common Stock, $0.0001 par value per share – 100,000,000 shares authorized; 17,785,235 and 17,642,832 shares issued and outstanding at December 31, 2024 and June 30, 2024 respectively	2	2
Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized; no shares issued or outstanding at December 31, 2024 and June 30, 2024, respectively
Additional paid-in capital	126,354	125,218
Accumulated deficit	(121,984)	(110,671)
Foreign currency translation reserve	(3,407)	(3,332)
Total stockholders’ equity	965	11,217
Total liabilities and stockholders’ equity	$ 11,106	$ 17,047

Income Tax

6 Months Ended

Dec. 31, 2024

Income Tax [Abstarct]

Income Tax

Note 14 – Income Tax

For the three and six months ended December 31, 2024, and December 31, 2023, respectively, the Company did not recognize a provision or benefit for income taxes due to incurring net losses. In addition, the net deferred tax assets arising from net operating losses were fully offset by a valuation allowance as the Company believes it is not more likely than not that the benefit will be realized.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Dec. 31, 2024	Jun. 30, 2024
Statement of Financial Position [Abstract]
Common Stock, par value per share (in Dollars per share)	$ 0.0001	$ 0.0001
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	17,785,235	17,642,832
Common Stock, shares outstanding	17,785,235	17,642,832
Preferred stock, par value per share (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding

Stock-Based Payments (Details) $ in Thousands	6 Months Ended
Stock-Based Payments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Stock-based payments [Line Items]
Unrecognized compensation cost	$ 56,727
Weighted-average period	6 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Section 35
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Fair Value of Financial Instruments - Schedule of Transaction were Initially Allocated (Parentheticals) (Details)	6 Months Ended
	Dec. 31, 2024
Schedule of Transaction were Initially Allocated [Line Items]
Original issue discount	10.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Prepaid Expenses and Other Current Assets

6 Months Ended

Dec. 31, 2024

Prepaid Expenses and Other Current Assets [Abstract]

Prepaid expenses and other current assets

Note 3 – Prepaid expenses and other current assets

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Prepayments¹		174		329
GST recoverable		243		178
Total prepaid expenses and other current assets		417		507

¹	Prepayments consist of prepaid clinical trial insurances, prepaid R&D expenditure relating to PSX-001 and IHL-675A clinical trials and scientific, marketing, and advertising subscription services.

Fair Value of Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2024

Fair Value of Financial Instruments [Abstract]

Schedule of Warrant and the Valuation Assumptions

The following table presents the fair value of the ELOC Warrant and the valuation assumptions under the BSOPM as of December 31, 2024 and at inception.

	December 31, 2024			At inception
Fair value	$	739			820
Exercise price	$	1.66			1.66
Common stock price	$	2.12			2.27
Expected option term (years)		4.8			5
Expected volatility		60.0	%		60.0	%
Risk free rate of return		4.27	%		4.06	%
Expected annual dividend yield		Nil			Nil

The following table presents the fair value of the First Tranche Warrant and the valuation assumptions under the BSOPM as of December 31, 2024, and at inception.

	December 31, 2024			At inception
Fair value	$	547		$	365
Exercise price	$	1.89		$	1.89
Common stock price	$	2.12		$	1.60
Expected option term (years)		4.7			4.9
Expected volatility		60.0	%		60.0	%
Risk free rate of return		4.28	%		3.81	%
Expected annual dividend yield		Nil			Nil

The following table presents the fair value of the conversion right of the First Tranche Debenture and the valuation assumptions under the MCSOPM as of December 31, 2024 and at inception.

	December 31, 2024			At inception
Fair value	$	477		$	300
Exercise price	$	1.84		$	1.84
Common stock price	$	2.12		$	1.64
Expected option term (years)		1.3			1.5
Expected volatility		60.0	%		60.0	%
Risk free rate of return		4.10	%		3.98	%
Expected annual dividend yield		Nil			Nil

Schedule of Transaction were Initially Allocated

The proceeds of the transaction were initially allocated as follows:

	Amount
	(in thousands)
10% Original issue discount		333
Conversion rights (liability) at fair value		302
First Tranche Warrants (liability) at fair value		365
Debt issuance costs		122
Debt liability host		2,211
Face value		3,333

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Trade and Other Payables, Accrued Expenses and Other Current Liabilities (Tables)

6 Months Ended

Dec. 31, 2024

Trade and Other Payables, Accrued Expenses and Other Current Liabilities [Abstract]

Schedule of Trade and Other Payables, Accrued Expenses and Other Current Liabilities

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Current liabilities
Trade payables		818		527
Contract liabilities		27		85
Total trade and other payables		845		612

Accrued expenses		3,066		4,512
Employee leave entitlements		369		333
Total accrued expenses and other current liabilities		3,435		4,845
Total Trade and other payables, accrued expenses and other current liabilities		4,280		5,457

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (11,313)	$ (5,968)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	190	24
Unrealized loss on foreign currency remeasurement	273
Non-cash expense of ELOC commitment	1,095
Share-based compensation expense	894	3,471
Change in fair value of warrant liabilities	103
Change in fair value of convertible rights	179
Non-cash interest expense	176
Change in operating assets and liabilities:
Prepaid expenses and other current assets	146	(5,883)
R&D tax incentive	2,627
Assets pledged as securities for short-term debt	(1,383)
Trade and other payables	(859)	504
Net cash used in operating activities	(7,872)	(7,852)
Cash flows from investing activities:
Purchase of property, plant and equipment	(8)	(280)
Net cash used in investing activities	(8)	(280)
Cash flows from financing activities:
Proceeds received from facility agreement	4,282
Repayment of facility agreement	(2,898)
Proceeds from issuance of convertible debt	2,779
Debt issuance costs	(113)
Net cash provided by financing activities	4,050
Effect of exchange rate changes on cash and cash equivalents	70	567
Net decrease in cash and cash equivalents	(3,830)	(8,132)
Cash and cash equivalents at beginning of period	5,858	22,120
Cash and cash equivalents at end of period	2,098	14,555
Non-cash investing and financing activities
Issuance of ELOC warrants at initial fair value	1,284,108
Issuance of convertible note warrants at initial fair value	543,298
Issuance of conversion rights at initial fair value	449,334
Total	$ 2,276,740

Loss Per Share - Schedule of Basic and Diluted Net Loss Per Share Attributable to Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Schedule of Basic and Diluted Net Loss Per Share Attributable to Stockholders [Abstract]
Basic loss per share	$ (0.33)	$ (0.33)	$ (0.65)	$ (0.38)
Diluted loss per share	$ (0.33)	$ (0.33)	$ (0.65)	$ (0.38)
The loss and weighted average number of Common Stock used in the calculation of basic loss per share is as follows:
Total comprehensive loss for the year (in thousands)	$ (6,308)	$ (4,314)	$ (11,388)	$ (5,550)
- Weighted average number of Common Stock (number)	17,624,422	15,873,113	17,563,200	15,873,113

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Schedule of Debt [Abstract]
FC Credit – 14.5% Facility agreement due 2025	$ 1,383
Arena LP – 10% Original discount secured convertible debenture due April 14, 2026	$ 2,385

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Leases (Tables)

6 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Lease Costs

The following table summarizes the weighted-average remaining lease term and discount rates for the Company’s operating leases:

	December 31, 2024			June 30, 2024
Lease term (years)		1.81			2.32

Discount rate		9.18	%		9.18	%

The following table summarizes the lease costs pertaining to the Company’s operating leases:

	December 31, 2024 $		June 30, 2024 $
	(in thousands)
Operating lease cost		96		172

Schedule of Future Minimum Lease Payments

The following table summarizes the future minimum lease payments due under operating leases as of December 31, 2024, (in thousands):

	Amount $
Operating leases	(in thousands)
June 30, 2025		98
June 30, 2026		189
June 30, 2027		45
June 30, 2028		30

Total minimum lease payments		363

Less amount representing interest		34

Total operating lease liabilities		329

Fair Value of Financial Instruments - Schedule of Warrant and the Valuation Assumptions (Details) - Fair Value, Inputs, Level 3 [Member]	Dec. 31, 2024
Fair value [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	477
Fair value [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	739
Fair value [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	547
Fair value [Member] \| At inception [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	300
Fair value [Member] \| At inception [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	820
Fair value [Member] \| At inception [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	365
Exercise price [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.84
Exercise price [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.66
Exercise price [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.89
Exercise price [Member] \| At inception [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.84
Exercise price [Member] \| At inception [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.66
Exercise price [Member] \| At inception [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.89
Common stock price [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	2.12
Common stock price [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	2.12
Common stock price [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	2.12
Common stock price [Member] \| At inception [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.64
Common stock price [Member] \| At inception [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	2.27
Common stock price [Member] \| At inception [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.6
Expected option term (years) [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.3
Expected option term (years) [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	4.8
Expected option term (years) [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	4.7
Expected option term (years) [Member] \| At inception [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	1.5
Expected option term (years) [Member] \| At inception [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	5
Expected option term (years) [Member] \| At inception [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	4.9
Expected volatility [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	60
Expected volatility [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	60
Expected volatility [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	60
Expected volatility [Member] \| At inception [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	60
Expected volatility [Member] \| At inception [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	60
Expected volatility [Member] \| At inception [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	60
Risk free rate of return [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	4.1
Risk free rate of return [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	4.27
Risk free rate of return [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	4.28
Risk free rate of return [Member] \| At inception [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	3.98
Risk free rate of return [Member] \| At inception [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	4.06
Risk free rate of return [Member] \| At inception [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input	3.81
Expected annual dividend yield [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input
Expected annual dividend yield [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input
Expected annual dividend yield [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input
Expected annual dividend yield [Member] \| At inception [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input
Expected annual dividend yield [Member] \| At inception [Member] \| ELOC Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input
Expected annual dividend yield [Member] \| At inception [Member] \| First Tranche Warrants [Member]
Schedule of Warrant and the Valuation Assumptions [Line Items]
Warrants measurement input