The following is a summary of the Addex Therapeutics Ltd (ADXN) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Addex recognized Q3 2024 income of CHF 0.1 million primarily from research funding, compared to CHF 0.3 million in Q3 2023.

• R&D expenses declined due to completion of search phase, resulting in lower costs, from CHF 0.5 million in Q3 2023 to CHF 0.2 million in Q3 2024.

• G&A expenses marginally decreased from CHF 0.6 million in Q3 2023 to CHF 0.5 million in Q3 2024.

• Diluted net loss from investments in Neurosterix was CHF0.9 million.

Business Progress:

• Progress in the GABAB PAM program for substance use disorders with IND-enabling studies started by partner Indivior.

• Independent research advancing with GABAB PAM program for chronic cough, with preclinical proof-of-concept and toxicity studies completed.

• Strategic advance in dipraglurant development targeting brain injury recovery.

• Continued advancements with spin-out company Neurosterix, focusing on IND-enabling studies for their M4 PAM program.

Opportunities:

• Engagement in high-impact clinical programs such as substance use disorders and chronic cough, addressing substantial unmet medical needs.

• Potential financial gain from partnership with Indivior, encompassing up to $330 million in milestone payments.

Risks:

• Reliance on financing to progress key clinical programs, including the GABAB PAM development for chronic cough set to commence IND-enabling studies in 2025.

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