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Nexalis Therapeutics Ltd (ASX:NX1)

ALERT: Price-sensitive ASX Announcement for NX1
Current share price for NX1 : $0.011 0.001 (10%)+
Announcement
Release
6 Jul 2026 11:48AM
Price at Release
$0.010
Full Release
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Summary
Nexalis Therapeutics Ltd (NX1), based in Melbourne, Australia, provided an update on its funding and clinical program. The company announced the cessation of negotiations with Point8 Capital Pty Ltd for a new funding facility, following the cancellation of a previous funding agreement with Linlithgow Family Office Pty Ltd. Despite the funding challenges, the company completed a Phase 1 clinical trial for IRX-616a, which showed promising results with no serious adverse events, confirming safety and tolerability. The trial has provided valuable data for future studies in patients with Panic Disorder. The company is reevaluating its clinical priorities and plans, including a detailed review of the IRX-211 Phase 2 trial and designing the Phase 2 trial for IRX-616a. Additionally, Nexalis received $490,000 in R&D Tax Incentive proceeds for FY2025, which is expected to support ongoing clinical developments. Efforts to secure alternative funding solutions are ongoing.
Key Points
  • Negotiations with Point8 Capital Pty Ltd for funding ceased.
  • Linlithgow Family Office Pty Ltd funding facility cancelled.
  • IRX-616a Phase 1 trial completed with no serious adverse events.
  • IRX-616a Phase 1 trial results exceeded expectations.
  • Company assessing revised clinical development plans.
  • Received $490,000 in R&D Tax Incentive proceeds.
  • Focus on securing alternative funding solutions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.