Why the Incannex (ASX:IHL) share price is climbing 5% this morning

The Incannex Healthcare Ltd (ASX: IHL) share price is climbing on the back of a positive update regarding its therapy, IHL-675A.

At the time of writing, the healthcare company’s shares are up 5%, trading at 21 cents.

What did Incannex announce?

The Incannex share price is on the move today as investors appear pleased with the company’s progress.

In its release, Incannex advised that it has been granted a pre-IND meeting with the United States Food and Drug Administration (FDA). The meeting follows the company’s submitted information package, which contained details of IHL-675A and its medical benefits.

IHL-675A is a novel therapy that…