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    ADXN   CH0029850754

ADDEX THERAPEUTICS LTD

(ADXN)
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Press Release: Addex Convenes Annual General Meeting 2021

05/14/2021 | 01:00am EDT
 
   Geneva, Switzerland, May 14, 2021 -- Addex 
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Therapeutics 
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(SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical company 
pioneering allosteric modulation-based drug discovery and development, 
announced today that its Annual General Meeting will take place on 
Wednesday 16 June 2021 at 11:00am CEST at the Campus Biotech, Chemin des 
Mines 9, 1202 Geneva. 
 
   Due to the global coronavirus (COVID-19) outbreak, the Federal Council 
has enacted measures to prevent the spread of the coronavirus under the 
Ordinance on Measures to Combat the Coronavirus (COVID-19) (COVID-19 
Ordinance 3). Among other measures, the Federal Council has banned all 
public and private events in Switzerland and allowed companies to impose 
on their shareholders the ability to exercise their rights exclusively 
through voting instructions to the Independent Voting Rights 
Representative. In accordance with the COVID-19 Ordinance 3, the Board 
of Directors ordered that all shareholders may exercise their rights at 
the Annual General Meeting (AGM) exclusively through the Independent 
Voting Rights Representative, Robert P. Briner, attorney-at-law, B & B 
Avocats. Shareholders will not be granted access to the meeting room on 
the day of the meeting. 
 
   Agenda 
 
   1.   Approval of the Annual Report, the Annual Financial Statements and 
the Consolidated Financial Statements for the business year 2020 
 
   2.   Consultative vote on the Compensation Report for the business year 
2020 
 
   3.   Appropriation of the results 
 
   4.   Discharge of the members of the Board of Directors and of the 
Executive Management 
 
   5.   Re-elections of the members of the Board of Directors and 
re-election of the Chairman of the Board of Directors 
 
   5.1.    Re-election of Vincent Lawton as member and Chairman of the 
Board of Directors 
 
   5.2.    Re-election of Raymond Hill as member of the Board of Directors 
 
   5.3.    Re-election of Timothy Dyer as member of the Board of Directors 
 
   5.4.    Re-election of Roger Mills as member of the Board of Directors 
 
   5.5.    Re-election of Jake Nunn as member of the Board of Directors 
 
   5.6.    Re-election of Isaac Manke as member of the Board of Directors 
 
   6.   Re-elections of the members of the Compensation Committee 
 
   6.7.    Re-election of Vincent Lawton as member of the Compensation 
Committee 
 
   6.8.    Re-election of Raymond Hill as member of the Compensation 
Committee 
 
   7.   Re-election of the Auditors BDO AG 
 
   8.   Re-election of the Independent Voting Rights Representative 
 
   9.   Amendments to the Articles of Association 
 
   9.9.    Creation of an authorized share capital in an amount of CHF 
24,636,476 and expiring on 16 June 2023 (article 3b of the Articles of 
Association) 
 
   9.10.    Increase of the conditional share capital by a total amount of 
CHF 8,212,159 from CHF 16,424,317 to CHF 24,636,476 (article 3c of the 
Articles of Association) 
 
   10.   Compensation of the members of the Board of Directors and of the 
Executive Management 
 
   10.11.      Compensation of the members of the Board of Directors 
 
   10.12.      Compensation of the members of the Executive Management 
 
   11.   Miscellaneous 
 
   The full invitation to the AGM 2021 may be found in the General Meetings 
section of the Company's website here 
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. 
 
   About Addex Therapeutics: 
 
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Addex 
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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 
product candidate, dipraglurant (mGlu5 negative allosteric modulator or 
NAM), is poised to start a pivotal registration clinical trial for 
Parkinson's disease levodopa induced dyskinesia (PD-LID) in Q2 2021. 
Addex is also investigating dipraglurant's therapeutic use in 
blepharospasm (a type of dystonia), for which a clinical trial is 
expected to be initiated in Q2 2021. Addex's third clinical program, 
ADX71149 (mGlu2 positive allosteric modulator or PAM), developed in 
collaboration with Janssen Pharmaceuticals, Inc., is scheduled to enter 
a phase 2a proof of concept clinical trial for the treatment of epilepsy 
in Q2 2021. Addex's GABAB PAM program has been licensed to Indivior PLC, 
which is focused on development for the treatment of addiction. 
Preclinical programs include GABAB PAM for CMT1A, mGlu7 NAM for PTSD, 
mGlu2 NAM for mild neurocognitive disorders, mGlu4 PAM for Parkinson's 
disease and mGlu3 PAM for neurodegenerative disorders. Addex shares are 
listed on the SIX Swiss Exchange and American Depositary Shares 
representing its shares are listed on the NASDAQ Capital Market, and 
trade under the ticker symbol "ADXN" on each exchange. 
 
   Press Contacts: 
 
 
 
 
Tim Dyer                   Mike Sinclair              James Carbonara 
 Chief Executive Officer    Partner, Halsin Partners   Hayden IR 
 Telephone: +41 22 884 15   +44 (0)20 7318 2955        +1 (646) 755 7412 
 55                         msinclair@halsin.com       james@haydenir.com 
 PR@addextherapeutics.com 
 
   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 and progress 
of clinical trials and preclinical studies, and its future financing 
activities. 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 SEC on March 11, 
2021, as well as market conditions and regulatory review. 
 
   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. Addex 
Therapeutics explicitly disclaims any obligation to update any 
forward-looking statements, except as required by law. 
 
 
 
 
 
 

(END) Dow Jones Newswires

May 14, 2021 01:00 ET (05:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
ADDEX THERAPEUTICS LTD -2.19% 1.565 Delayed Quote.-19.60%
DJ INDUSTRIAL -0.49% 34229.22 Delayed Quote.12.65%
GOLD -0.57% 1856.42 Delayed Quote.-1.28%
INDIVIOR PLC -1.33% 155.9 Delayed Quote.45.22%
NASDAQ COMP. -0.62% 14086.439444 Delayed Quote.9.98%
S&P GSCI GOLD INDEX -0.50% 1081.8004 Delayed Quote.-1.54%
SILVER -1.38% 27.474 Delayed Quote.5.59%
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Financials
Sales 2021 1,61 M 1,79 M 1,79 M
Net income 2021 -15,1 M -16,8 M -16,8 M
Net Debt 2021 5,28 M 5,88 M 5,88 M
P/E ratio 2021 -3,72x
Yield 2021 -
Capitalization 69,7 M 77,6 M 77,6 M
EV / Sales 2021 46,6x
EV / Sales 2022 76,6x
Nbr of Employees 27
Free-Float 77,2%
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Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 1,08 CHF
Last Close Price 1,60 CHF
Spread / Highest target -32,5%
Spread / Average Target -32,5%
Spread / Lowest Target -32,5%
EPS Revisions
Managers and Directors
NameTitle
Timothy Dyer Chief Executive Officer & Director
Lénaic Teyssédou Head-Finance
Vincent M. Lawton Chairman
Roger G. Mills Director & Chief Medical Officer
Raymond George Hill Director
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