Quick Answer
Incannex Healthcare Inc. reported R&D Expense of $10.75 million for fiscal year 2025.
Incannex Healthcare Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $10.75M | -16.6% |
| 2024 | $12.88M | +104.1% |
| 2023 | $6.31M | +17.4% |
| 2022 | $5.37M | +13.1% |
| 2021 | $4.75M | +125.0% |
| 2020 | $2.11M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| December 31, 2025 | $2.28M | +61.2% | +103.6% |
| September 30, 2025 | $1.12M | -61.3% | -59.0% |
| March 31, 2025 | $2.73M | -16.5% | +93.4% |
| December 31, 2024 | $1.41M | -46.4% | -51.2% |
| September 30, 2024 | $2.90M | +11.0% | -11.6% |
| March 31, 2024 | $3.28M | +99.9% | +24.2% |
| December 31, 2023 | $2.64M | +70.3% | +1.2% |
| September 30, 2023 | $2.61M | — | +59.1% |
- Incannex Healthcare Inc. showed a decrease of -16.6% in R&D Expense compared to the prior fiscal year.
- Over the 2020–2025 period, Incannex Healthcare Inc.’s r&d expense has grown by 409.2% (from $2.11 million to $10.75 million).
- The most recent figure is from Incannex Healthcare Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on September 29, 2025.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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