Q2 2024 Addex Therapeutics Ltd Earnings Call Transcript
Key Points
- Addex Therapeutics Ltd (ADXN) secured USD 63 million in Series A financing led by Perceptive Advisors, providing resources to advance their preclinical portfolio without diluting shareholders' interests.
- The company received CHF 5 million and a 20% equity interest in Neurosterix, strengthening their balance sheet and retaining significant upside potential.
- Excellent progress in the GABAB PAM program with partner Indivior selecting a compound for development in substance use disorders, with potential milestone payments up to $330 million.
- Dipraglurant is being repositioned for brain injury recovery, addressing a large unmet medical need in post-stroke rehabilitation.
- Neurosterix has made significant advancements, including starting IND-enabling studies with the M4 PAM program for schizophrenia.
- Technical issues during the earnings call presentation, requiring attendees to download the presentation separately.
- Janssen Pharmaceuticals discontinued development of ADXM1149 in epilepsy, although the partnership remains ongoing.
- The company’s financials show a decrease in income from CHF 0.6 million in Q2 2023 to CHF 0.1 million in Q2 2024.
- Current liabilities decreased by CHF 1.9 million compared to June 30, 2023, indicating potential financial constraints.
- Uncertainty remains regarding the specific clinical indications for the chronic cough program, with no finalized patient population yet.
Hello, everyone. I'd like to thank you all for standing by and attending our half-year 2024 financial results conference call. I'm here with Mikhail Kalinichev, Head of Translational Science who will be providing an update on our R&D programs. I draw your attention to the press release and the financial statements issued earlier today, which are available on our website.
Unfortunately, there has been a technical issue with loading the presentation to the webcast system, so please use the download button in order to download the presentation. We will be indicating slide numbers so that you will be able to follow hopefully.
So on to slide 3, the disclaimer slide. I also draw your attention to our disclaimers. We will be making certain forward-looking statements, that are based on the knowledge we have today.
I will start this conference call by giving a quick overview of our recent activities and achievements before reviewing our pipeline. I will then hand
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