In This Article:
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Revenue: CHF0.1 million in Q3 2024, compared to CHF0.3 million in Q3 2023.
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R&D Expenses: CHF0.2 million in Q3 2024, decreased by CHF0.3 million from Q3 2023.
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G&A Expenses: CHF0.5 million in Q3 2024, decreased by CHF5.1 million from Q3 2023.
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Net Loss from Associates: CHF0.9 million related to investment in Neurosterix Group.
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Cash Position: CHF3.3 million as of Q3 2024.
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Current Liabilities: CHF0.9 million as of September 30, 2024, decreased by CHF2 million from December 31, 2023.
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Non-current Liabilities: CHF0.2 million as of September 30, 2024, decreased by CHF0.4 million from December 31, 2023.
Release Date: November 22, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Addex Therapeutics Ltd (NASDAQ:ADXN) has made significant progress in its GABAB positive allosteric modulator program, completing the R&D phase and delivering multiple drug candidates.
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The partnership with Indivior has led to the selection of a compound for development in substance use disorder, with IND-enabling studies already started.
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Addex Therapeutics Ltd (NASDAQ:ADXN) is eligible for up to USD330 million in milestone payments and tiered royalties from the partnership with Indivior.
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The company has selected a compound to advance its independent GABAB PAM program for chronic cough, with promising preclinical data.
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Neurosterix, a spin-out company, has made excellent progress, starting IND-enabling studies with its M4 PAM program.
Negative Points
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Addex Therapeutics Ltd (NASDAQ:ADXN) reported a decrease in income for Q3 2024, recognizing CHF0.1 million compared to CHF0.3 million in Q3 2023.
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Continuing R&D expenses decreased by CHF0.3 million, indicating a potential slowdown in research activities.
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The company experienced foreign exchange losses on US dollar cash balances, impacting financial results.
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There is a risk of dilution for Addex Therapeutics Ltd (NASDAQ:ADXN) in Neurosterix if additional capital is needed for later-stage clinical development.
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The disappointing results in epilepsy with ADX71149 have led to a repositioning of the dipraglurant development for brain injury recovery.
Q & A Highlights
Q: Could you tell us what would be the next key triggers for the milestones from Indivior? Should we expect any trigger pre-clinical and for the clinical stage? A: Tim Dyer, CEO: We are not at liberty to disclose the details around the milestones, but they are prespecified and include clinical and commercial milestones within the USD330 million. They are roughly split 50-50 between clinical and commercial milestones.