Incannex Healthcare Forms Joint Venture with Mind Medicine Australia to Expand Access to Psychedelic-Assisted Therapy

Incannex Healthcare (Nasdaq: IXHL) said it has started participant screening at first approved sites for its DReAMzz Phase 2 dose confirmation study of IHL-42X in obstructive sleep apnea. The FDA granted IHL-42X Fast Track. Prior Phase 2 results reported up to 83% AHI reduction and improved patient-reported outcomes.

Biotech stocks rose Monday as investors reacted to clinical and regulatory updates. Tango Therapeutics (TNGX) jumped 52.97% after initial Phase 1/2 pancreatic cancer data showed 90% 6-month PFS; Alvotech (ALVO) gained 19.77% as the FDA accepted its Entyvio interchangeable biosimilar AVT16; Zevra (ZVRA) rose 13.95% on an Orange Book listing for MIPLYFFA.

Bernstein initiated coverage of Shopify (SHOP) with an Outperform rating and $160 price target, citing its commerce innovation and AI potential. Despite strong Q2 results, the stock fell 17.04% in a month. It trades at a forward P/E of 51, above sector average. Hedge fund interest declined, but short interest is low, and analysts' consensus is Buy with a $175 target.

Piper Sandler initiated coverage on First Solar (FSLR) with an Overweight rating and $260 price target, citing low-cost domestic supply and optimistic margin forecasts. FSLR reported Q2 2026 net sales of $1.06B, down 4% YoY, but net income rose to $423M. Shares are down 22% YTD, facing policy and competition risks. Analysts maintain a Buy rating, with FSLR trading at 9.27x forward earnings.

Sherritt International Corp, a Canadian miner with Cuban operations, is seeking a US backer to navigate Trump's sanctions. Citigroup and Office Depot hold claims on Sherritt's Cuban properties, valued at over $350 million, complicating potential deals. Sherritt is in talks with Gillon Capital and a consortium including Glencore. Resolving these claims could set a precedent for other Cuban investments.

Boeing (BA) increased a contract by $13.4B to $19.1B for Foreign Military Sales, primarily with Japan and Israel. The company's P/S ratio is 1.74, below its historical median, and its GF Value™ suggests it is 0.4% undervalued. BA's GF Score™ is 68, indicating moderate financial health with strengths in valuation and momentum but weaknesses in profitability and financial strength. Insiders have sold more shares than they have bought in the past year, and institutional investors have mixed sentime