CHF15.5M ($16.6M) of cash and cash equivalents at September 30, 2021- Cash used in Q3 2021 of CHF2.6M
- Dipraglurant Phase 2 blepharospasm clinical trial Initiated
- Phase 2b/3 dipraglurant study in dyskinesia associated with Parkinson’s disease on track
- Janssen led ADX71149 Phase 2 study in epilepsy on track
- Indivior GABAB PAM strategic collaboration extended with
$4M additional funding
Ad Hoc Announcement Pursuant to Art. 53 LR
“We continue to make excellent progress throughout our pipeline as we advance all programs to their next valuable creating milestones. With the initiation of the placebo-controlled Phase 2 clinical trial of dipraglurant in blepharospasm patients, Addex now has three active clinical programs, all of which are due to readout in 2022,” said
Q3 2021 Operating Highlights:
- Initiated a placebo-controlled Phase 2 clinical trial with dipraglurant in blepharospasm patients
- Continued to advance pivotal Phase 2b/3 dipraglurant study in dyskinesia associated with Parkinson’s disease
Janssen Pharmaceuticals continued to advance a Phase 2a clinical study of ADX71149 in epilepsy patients- Extended our strategic collaboration with Indivior to advance GABAB PAM until mid-2022 with
$4M additional funding - Continued to advance GABAB PAM drug candidates through clinical candidate selection phase
- Entered a research collaboration with the Charcot–Marie–Tooth Association (CMTA) to evaluate selected drug candidates in preclinical models of CMT1A
- Advanced Eurostars / Innosuisse funded mGlu7 NAM program for post-traumatic stress disorder
- Continued to advance preclinical programs to next value inflection points
Select Upcoming Milestones:
- Q1 22 - Phase 2a data: dipraglurant for blepharospasm
- Q2 22 - Start IND enabling studies for GABAB PAM for Addiction and CMT1a
- Q3 22 - Phase 2a data: ADX71149 for epilepsy
- Q4 22 - Phase 2b/3 data: dipraglurant for dyskinesia associated with Parkinson’s disease
Key Financial Data for the three-months and nine-months ended
CHF’ thousands | Q3 21 | Q3 20 | Change | YTD 21 | YTD 20 | Change |
Income | 758 | 102 | 656 | 2,752 | 1,987 | 765 |
R&D expenses | (2,862) | (1,979) | (883) | (9,342) | (7,851) | (1,491) |
G&A expenses | (1,472) | (1,236) | (236) | (4,641) | (4,496) | (145) |
Total operating loss | (3,576) | (3,113) | (463) | (11,231) | (10,360) | (871) |
Finance result, net | (22) | (200) | 178 | 303 | (374) | 677 |
Net loss for the period | (3,598) | (3,313) | (285) | (10,928) | (10,734) | (194) |
Basic and diluted net loss per share | (0.11) | (0.12) | 0.01 | (0.32) | (0.40) | 0.08 |
Net decrease in cash and cash equivalents | (2,622) | (2,857) | 235 | (3,209) | (13,723) | 10,514 |
Cash and cash equivalents as of | 15,486 | 17,813 | (2,327) | 15,486 | 17,813 | (2,327) |
Shareholders’ equity as of | 13,341 | 15,744 | (2,403) | 13,341 | 15,744 | (2,403) |
Financial Summary:
Income is primarily driven by amounts received under our funded research collaboration with Indivior. During the nine-month period ended
R&D expenses increased by
G&A expenses slightly increased by
The net loss is primarily driven by the evolution of income, research and development costs and financial result. During the nine-month period ended
Basic and diluted loss per share decreased to
Cash and cash equivalents amounted to
2021 Q3 Condensed Consolidated Interim Financial Statements:
The Q3 2021 financial report can be found on the Company’s website in the investor/download section here.
Conference Call Details:
A conference call will be held today, November 4, 2021, at
Joining the Conference Call:
1: In the 10 minutes prior to the call start time, call the appropriate participant dial-in number.
Dial-In Numbers:
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- UK +44 20 30 09 24 70
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- Other Countries
2: Provide the Operator with the Participation Pin Code: 89492779#
Link to live event online:
1: In the 10 minutes prior to the call start time, sign in online by following this WebEx Link.
2: Password: Welcome
About
Addex Therapeutics is a clinical-stage pharmaceutical company focused on the development and commercialization of an emerging class of novel orally available small molecule drugs known as allosteric modulators for neurological disorders. Allosteric modulators offer several potential advantages over conventional non-allosteric molecules and may offer an improved therapeutic approach to conventional "orthosteric" small molecule or biological drugs. Addex's allosteric modulator drug discovery platform targets receptors and other proteins that are recognized as essential for therapeutic intervention. Addex's lead drug candidate, dipraglurant (mGlu5 negative allosteric modulator or NAM), is in a pivotal registration clinical trial for Parkinson’s disease levodopa induced dyskinesia (PD-LID) and has entered a Phase 2 clinical study for the treatment of blepharospasm, a form of dystonia. Addex's third clinical program, ADX71149 (mGlu2 positive allosteric modulator or PAM), developed in collaboration with
Contact:
Chief Executive Officer Telephone: +41 22 884 15 55 PR@addextherapeutics.com | Partner, +44 (0)20 7318 2955 msinclair@halsin.com | Hayden IR (646)-755-7412 james@haydenir.com |
Addex Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including in respect of the anticipated initiation of clinical trials. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release, are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions. These and other risks and uncertainties are described in the Company’s Annual Report on Form 20-F filed with the
Any forward-looking statements contained in this press release represent Addex Therapeutics’ views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.
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