Addex Therapeutics (ticker: ADXN) held its Half-Year 2024 Financial Results and Corporate Update Conference Call on [insert date]. CEO Tim Dyer and Head of Translational Science Misha Kalinichev discussed research progress, financials, and the launch of Neurosterix and its GABAB PAM compound development. Technical issues were acknowledged, but updates included the termination of dipraglurant for PD-LID in favor of brain injury recovery.
Key Takeaways
- Neurosterix raised $63 million in Series A funding.
- Partnership with Indivior for GABAB PAM compound development for substance use disorders.
- Advancing GABAB PAM program for chronic cough IND studies in 2025.
- Dipraglurant development terminated for PD-LID in favor of brain injury recovery.
- Financial results adjusted due to Neurosterix divestiture.
- Compound A showing efficacy in treating chronic cough, IND-enabling studies planned for 2025.
- Neurosterix spun out preclinical programs, retaining 20% interest.
- Q2 2024 income at $0.1 million, with CHF3.8 million cash at quarter-end.
Company Outlook
- H1 2025 to start IND studies for GABAB PAM compound.
- Benchmarking treatments against existing options like Camlipixant.
- Focusing on broader efficacy for chronic cough and brain injury recovery.
Bearish Highlights
- Q2 2024 income drop compared to previous year Q2.
- Dipraglurant termination shifts research focus.
Bullish Highlights
- Neurosterix spinout provided $5 million, easing financing pressure.
- GABAB PAM compound development targeting substance use disorders market.
Misses
- Technical issues requiring participants to download slides.
Q&A Highlights
- No comment on potential Neurosterix public listing.
- Distinct IND studies progress for M4 modulation chemistry expected by mid-2024.
Addex Therapeutics is strategizing R&D initiatives, with a focus on chronic cough and brain injury treatment. Financially stable, the company faces income reduction while maintaining strong R&D activity.
