Q3 2025 Addex Therapeutics Ltd Earnings Call Transcript
Key Points
- Addex Therapeutics Ltd (ADXN) has made excellent progress in its GABAB PAM program, advancing towards IND-enabling studies for chronic cough.
- The company has repositioned dipraglurant for brain injury recovery, with promising pre-clinical results and a strong patent position.
- Addex Therapeutics Ltd (ADXN) has a partnership with Indivior, which could lead to payments of up to USD330 million upon achieving regulatory, clinical, and commercial milestones.
- The spin-out company, Neurosterix, is advancing its portfolio, including a potentially best-in-class M4 PAM for schizophrenia.
- Addex Therapeutics Ltd (ADXN) has reduced its cash burn following the Neurosterix spin-out, extending its cash runway through mid-2026.
- Current cash reserves do not fund the progression of unpartnered programs into the clinic, indicating a need for additional financing.
- R&D expenses remain stable but are primarily focused on the GABAB PAM program, potentially limiting resources for other projects.
- The company faces competition in the post-stroke recovery space, particularly from CCR5 receptor modulators like maraviroc.
- Addex Therapeutics Ltd (ADXN) has not disclosed its commercial assessment for the chronic cough market, leaving uncertainty about its market potential.
- The company's income remains low, primarily from patent maintenance and services from Neurosterix, indicating limited revenue streams.
Hello, everyone. I'd like to thank you all for attending our third-quarter 2025 financial results conference call.
I'm here with Misha Kalinichev, our 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. 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 dipraglurant post-stroke recovery program and GABAB PAM pre-clinical program for cough. I will then review our Q3 2025 financial results. Following that, we will open the call for Q&A.
The third quarter of 2025 has seen several important
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