Q3 2024 Addex Therapeutics Ltd Earnings Call Transcript
Key Points
- Addex Therapeutics Ltd (ADXN) has made significant progress in its GABAB positive allosteric modulator program, completing the R&D phase and delivering multiple drug candidates.
- The partnership with Indivior has led to the selection of a compound for development in substance use disorder, with IND-enabling studies already started.
- Addex Therapeutics Ltd (ADXN) is eligible for up to USD330 million in milestone payments and tiered royalties from the partnership with Indivior.
- The company has selected a compound to advance its independent GABAB PAM program for chronic cough, with promising preclinical data.
- Neurosterix, a spin-out company, has made excellent progress, starting IND-enabling studies with its M4 PAM program.
- Addex Therapeutics Ltd (ADXN) reported a decrease in income for Q3 2024, recognizing CHF0.1 million compared to CHF0.3 million in Q3 2023.
- Continuing R&D expenses decreased by CHF0.3 million, indicating a potential slowdown in research activities.
- The company experienced foreign exchange losses on US dollar cash balances, impacting financial results.
- There is a risk of dilution for Addex Therapeutics Ltd (ADXN) in Neurosterix if additional capital is needed for later-stage clinical development.
- The disappointing results in epilepsy with ADX71149 have led to a repositioning of the dipraglurant development for brain injury recovery.
Hello, everyone. I would like to thank you all for attending our third quarter 2024 financial results conference call. I'm here with Mikhail Kalinichev, our Head of Translational Science who will provide 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.
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 over to Misha who will review in more detail our GABAB PAM preclinical program. I will then review our third-quarter 2024 financial results. Following that, we will open the call for questions.
So we have made excellent progress in our GABAB positive allosteric modulator program with the completion of the R&D
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