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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