Q2 2025 Addex Therapeutics Ltd Earnings Call Transcript
Key Points
- Addex Therapeutics Ltd (ADXN) has made significant progress in its GABAB PAM program, with successful completion of IND-enabling studies for a drug candidate in substance use disorders in collaboration with Indivior.
- The company regained rights to its mGlu2 positive allosteric modulator program, including the Phase II asset ADX71149, from Johnson & Johnson, opening new therapeutic development opportunities.
- Addex Therapeutics Ltd (ADXN) has repositioned dipraglurant for brain injury recovery and secured an option agreement for exclusive licensing of related intellectual property.
- The company invested in Stalicla, which has developed a precision medicine platform for patient stratification, potentially applicable to various disease areas beyond autism spectrum disorders.
- Addex Therapeutics Ltd (ADXN) has a cash runway through mid-2026, supported by reduced cash burn following the Neurosterix spin-out transaction.
- Current cash reserves do not fund the progression of unpartnered programs into the clinic, indicating a need for additional financing.
- Income decreased by CHF0.1 million in Q2 2025 compared to 2024, primarily due to the completion of the funded research phase with Indivior.
- The share of net loss from the 20% participation in Neurosterix Group increased by CHF0.7 million, reflecting a financial burden on Addex Therapeutics Ltd (ADXN).
- Current liabilities increased by CHF0.3 million compared to December 2024, indicating rising financial obligations.
- The company faces challenges in securing financing to start IND-enabling studies for its independent GABAB PAM program for chronic cough.
Thank you. Hello, everyone. I'd like to thank you all for attending our half year 2025 financial results conference call. I'm here with Mikhail Kalinichev, who will provide an update on our R&D programs. I draw your attention to the press release and the financial statements issued yesterday, which are available on the website.
I also draw your attention to our disclaimer. 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 Mikhail, who will review in more detail our GABAB PAM preclinical program for cough. I will then review our financial results. Following that, we will open the call for questions.
The first half of 2025 has seen several important achievements across our pipeline. We've made excellent progress in our GABAB PAM program with our partner, Indivior,
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