ResMed (NYSE: RMD; also ASX: RMD) has suddenly become the center of intense online speculation as investors buzz about a potential acquisition or partnership with Incannex Healthcare (Nasdaq: IXHL). The surge in discussion isn’t surprising: structural ties between the two companies’ leadership and the fact that Incannex is nearing a major data readout for its oral sleep apnea therapy IHL‑42X have lit up social media and trading platforms.
On the one hand is ResMed, a global leader in home sleep and respiratory care devices—most notably CPAP machines—trading on both the New York Stock Exchange and the Australian Securities Exchange under ticker RMD. The company continues to roll out AI‑driven digital health solutions across more than 140 countries, and its reputation gives any rumored strategic move extraordinary weight.
On the other hand is Incannex Healthcare, listed on Nasdaq under ticker IXHL, a clinical‑stage biopharma pioneer geared toward treating obstructive sleep apnea and related conditions via novel combination drug therapies. Its flagship candidate, IHL‑42X, is a fixed‑dose combination of dronabinol and acetazolamide, now in a Phase 2/3 study known as RePOSA. That trial – enrolling more than 560 global patients – includes U.S. sites and is expected to yield topline data in July 2025.
The rumor mill is fueled by Incannex’s recent string of strategic moves. Just in May and June 2025 it launched a binding agreement to cancel up to 347 million Series A warrants to eliminate dilution ahead of the Phase 2 data readout, involving a cash payment of up to $12.2 million. That cleanup of its capital structure is seen by industry watchers as pre‑positioning for a potential corporate tie‑up or rescue, if not a bidding war. Moreover, Incannex recently appointed Dr. Alison Wimms—who has deep sleep medicine experience and represents ResMed on its IHL‑42X advisory board.
Investors online have begun weaving a narrative: ResMed could either partner to bolster a pharmaceutical ambition or acquire Incannex outright once the Phase 2 results emerge. With CPAP therapy being the standard of care for obstructive sleep apnea and no FDA‑approved drug yet on the horizon, a successful readout could validate IHL‑42X as a first‑in‑class oral alternative—one that disrupts CPAP’s dominance. Forums, message boards and stock‑tracking platforms report RMD and IXHL trending heavily, as traders anticipate major moves.
RMD investors are curious whether ResMed wants to diversify into pharmaceuticals, while IXHL buyers are betting on a drug breakthrough and possible premium acquisition. Some analysts warn of over-exuberance: the micro‑cap IXHL shows high volatility, and its cash runway remains tight. Still, recent trading volume and a spike near $0.61 for IXHL reflect speculative momentum.
At stake is more than two tickers. This could define the future of sleep apnea treatment: traditional PAP devices versus a potential oral drug that could transform adherence, convenience and quality of life for millions. A tie‑up would combine ResMed’s global commercialization muscle with Incannex’s innovative pipeline and clinical momentum. For readers tracking RMD on NYSE/ASX or IXHL on Nasdaq, now is the moment to watch closely.