IHL.AX Incannex Healthcare ASX pre-market 20 Feb 2026: 61.36M shares active

IHL.AX stock opened pre-market on 20 Feb 2026 at A$0.047 and trades at A$0.041 after a one-day drop of -10.87%, driven by heavy volume of 61,360,016 shares. As one of the most active ASX names this session, Incannex Healthcare Limited (IHL.AX) shows a relative volume near 9.55x its average, signalling elevated trader attention ahead of catalysts. We track clinical progress, cash metrics and short-term technical levels to frame the most active flow and investor risks.