Addex Therapeutics (ticker: ADXN) shared its Half-Year 2024 Financial Results and Corporate Update during a recent conference call. The event featured discussions by CEO Tim Dyer and Head of Translational Science Misha Kalinichev on the company’s progress in research and development, as well as its financial updates.
Key highlights from the conference call included the launch of Neurosterix, which raised $63 million in Series A funding, partnerships and plans for GABAB PAM compound development, as well as the redirection of dipraglurant towards brain injury recovery.
- Neurosterix was launched with substantial funding.
- Partnerships established with Indivior for GABAB PAM compound development.
- Advancement in a GABAB PAM program for chronic cough.
- Termination of dipraglurant for PD-LID.
- Reclassification of income and expenses due to Neurosterix divestiture.
- Advancements in Compound A for treating chronic cough.
- Developmental progress with Neurosterix preclinical programs.
- Q2 2024 reported income of $0.1 million.
- IND-enabling studies for GABAB PAM compound expected to start in early 2025.
- Focus on benchmarking treatments against existing therapies.
- Targeting unmet needs in chronic cough and brain injury recovery.
- Income decrease in Q2 2024 compared to the previous year.
- Termination of dipraglurant for PD-LID signaling a shift in research focus.
- Spinout of Neurosterix providing Addex with $5 million and reducing financing pressures.
- GABAB PAM compound development addressing substantial market opportunity in substance use disorders.
- Technical issues during the presentation requiring participants to download slides directly.
- Dyer could not comment on the potential public listing of Neurosterix.
- IND-enabling studies for M4 modulation chemistry expected to complete by mid-2024.
Further insights and in-depth analysis of Addex Therapeutics’ financial health and market position can be accessed through InvestingPro.
