The following is a summary of the Addex Therapeutics Ltd (ADXN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Addex Therapeutics reported a revenue of CHF0.2 million in Q1 2024, primarily from research funding.

• R&D expenses for the GABAB PAM program were stable at CHF0.3 million.

• General and Administrative expenses increased due to legal fees related to the Neurosterix transaction.

• After the Neurosterix transaction, they recognized CHF5 million, enhancing their balance sheet with total assets primarily held in cash.

Business Progress:

• Launched Neurosterix with a Series A funding of $63 million.

• Partnership with Indivior advancing with a funded GABAB modulator program for substance use disorders.

• Development of dipraglurant for post-stroke recovery advanced.

• Preparing to start IND enabling studies for their independent GABAB cough program.

Opportunities:

• The differentiation of dipraglurant for post-stroke recovery catering to a large unmet medical need in rehabilitation therapies.

• Potential expansions in partnering for dipraglurant in various unmet medical areas.

• Advancing M4 PAM, mGlu7NAM, and mGlu2NAM programs with secured financing in the specialized entity, Neurosterix.

Risks:

• The epilepsy program with Janssen did not meet its primary endpoint, raising uncertainties about the future of this collaboration.

More details: Addex Therapeutics IR

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