“We continue to execute on our strategy to advance our portfolio of in-house discovered allosteric modulator programs and have made significant progress, with three programs scheduled to start clinical studies in Q1 2021, and a robust pipeline of preclinical programs advancing towards the clinic,” said
Research & Development Highlights:
- Dipraglurant PD-LID pivotal Phase 2b/3 clinical trial poised to start in Q1 2021
- Dipraglurant dystonia program scheduled to start Phase 2 blepharospasm clinical trial in Q1 2021
- ADX71149 Phase 2 epilepsy study: Janssen (J&J) scheduled to dose patients in Q1 2021
- GABAB PAM Indivior partnership extended with
$2.8 million of additional research funding – expect to start IND enabling studies by end of 2021 - Advancing mGlu2NAM and mGlu7NAM programs into late lead optimization – clinical candidate selection expected in 2021
- Awarded
CHF600K Innosuisse grant in collaboration with SIB (Swiss Institute of Bioinformatics ) to identify new therapeutic indications for ADX10061, a highly selective and potent D1 receptor antagonist
Financial Highlights:
·Cash and cash equivalents of
Key Financial Data for the three-months and nine-months ended
CHF’ thousands | Q3 20 | Q3 19 | Change | YTD 20 | YTD 19 | Change |
Income | 102 | 511 | (409) | 1,987 | 1,738 | 249 |
R&D expenses | (1,979) | (2,915) | 936 | (7,851) | (8,808) | 957 |
G&A expenses | (1,236) | (1,358) | 122 | (4,496) | (4,179) | (317) |
Total operating loss | (3,113) | (3,762) | 649 | (10,360) | (11,249) | 889 |
Finance result, net | (200) | 176 | (376) | (374) | 123 | (497) |
Net loss for the period | (3,313) | (3,586) | 273 | (10,734) | (11,126) | 392 |
Basic and diluted net loss per share | (0.12) | (0.14) | 0.02 | (0.40) | (0.42) | 0.02 |
Net decrease in cash and cash equivalents | (2,857) | (4,799) | 1,942 | (13,723) | (9,721) | (4,002) |
Cash and cash equivalents as of | 17,813 | 31,949 | (14,136) | 17,813 | 31,949 | (14,136) |
Shareholders’ equity as of | 15,744 | 28,775 | (13,031) | 15,744 | 28,775 | (13,031) |
Financial Summary
Income decreased by
Research and development costs decreased by
G&A expenses decreased by
The net loss decreased by
Basic and diluted loss per share decreased to
Cash and cash equivalents amounted to
Q3 2020 Condensed Consolidated Interim Financial Statements:
The third quarter 2020 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, Tuesday, November 3, 2020 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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Link for other countries
2. Provide the operator with the Participant PIN Code: 48937768#
Joining the Live Event Online:
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- Password: Welcome
About
Press Contacts:
Chief Executive Officer Telephone: +41 22 884 15 55 Email: PR@addextherapeutics.com | Partner, +44 (0)20 7318 2955 msinclair@halsin.com |
Forward Looking Statements:
Certain statements made in this announcement are forward-looking statements including with respect to the anticipated timing of the Company’s clinical candidate selection, clinical trials and the reporting of data therefrom. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including delays resulting from the COVID-19 pandemic and healthcare regulatory considerations. The Company cautions securityholders and prospective securityholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
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