Latest Nexalis Therapeutics (ASX:NX1) News

Nexalis Therapeutics has initiated its Phase 1 trial for IRX-616a, an inhaled cannabidiol treatment aimed at panic disorder, marking a significant step in developing rapid-onset anxiety therapies.

Cannabis and psychedelics delivered the week’s biggest winner, while a cluster of smaller caps slid on fresh losses, leadership change, and near-term uncertainty. Investors kept paying up for FDA clearances and reimbursement wins, but punished businesses where early pops quickly disappeared.

Nexalis Therapeutics reported a widening loss of $1.83 million for 2025, reflecting increased investment in product development and marketing. Despite the loss, the company boosted its cash reserves through equity raises and borrowings.

Two capital raisings and one brutal reset set the tone, even as several companies posted clean growth or strong clinical updates. Radiopharmaceuticals kept delivering good news, but investors still punished supply-chain and cash needs fast.

Nexalis Therapeutics has completed a key capital raising milestone, issuing new shares, options, and performance rights following shareholder approval. This move supports the company’s clinical-stage drug development programs targeting pain and mental health.