The following is a summary of the Addex Therapeutics Ltd (ADXN) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Addex secured CHF5 million by spinning out its unpartnered preclinical portfolio into a new private company, Neurosterix.

• R&D expenses reduced from CHF14.7 million in 2022 to CHF7 million in 2023 due to termination of Dipraglurant development for Parkinson's disease.

• G&A expenses reduced from CHF7.3 million in 2022 to CHF5 million in 2023 due to decreased D&O insurance costs.

Business Progress:

• Addex is awaiting data from the Phase 2 epilepsy clinical study conducted by partner, Janssen.

• Addex identified post-stroke recovery as a potential area for future development of Dipraglurant and is currently profiling it in preclinical models.

• Extension of the GABAB PAM Indivior collaboration funded Addex with additional CHF2.7 million for research.

• Addex plans to advance multiple drug candidates into IND enabling studies in H2 2024.

• With the launch of Neurosterix with a $63 million Series A financing round, Addex plans to progress its preclinical portfolio without diluting its clinical-stage asset and partner program.

• Addex Therapeutics is in talks with potential partners for Dipraglurant in PD-LID and post-stroke recovery. It also plans to move M4 PAM program through Phase 1 development.

More details: Addex Therapeutics IR

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