Summary by Moomoo AI
Addex Therapeutics reported Q1 2024 financial results with revenue of CHF 0.2M from the Indivior collaboration, down from CHF 0.5M in Q1 2023. Operating costs increased to CHF 1.0M from CHF 0.9M, primarily due to higher legal fees. Net loss from continuing operations was CHF 0.7M compared to CHF 0.4M in Q1 2023.On April 2, 2024, Addex completed the sale of its allosteric modulator drug discovery platform and preclinical portfolio to newly formed Neurosterix Pharma, which received USD 63M funding led by Perceptive Advisors. Addex received CHF 5M cash and retained 20% equity in Neurosterix. The company maintains partnerships with Janssen and Indivior, along with clinical-stage assets including dipraglurant.Cash and cash equivalents stood at CHF 1.6M as of March 31, 2024, compared to CHF 3.9M at year-end 2023. The company recorded CHF 0.8M in assets held for sale and CHF 1.3M in associated liabilities related to the Neurosterix transaction.
