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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Addex Therapeutics Ltd    ADXN   CH0029850754

ADDEX THERAPEUTICS LTD

(ADXN)
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Press Release : Addex Files Registration Statement on Form F-3 with the US Securities and Exchange Commission

04/08/2021 | 01:00am EDT
 
   Geneva, Switzerland, April 8, 2021 -- Addex Therapeutics 
https://www.globenewswire.com/Tracker?data=PnB3_q7SnocXwhKbpoq8zJYKEbD03MIh59wc9iNFrQ6YeY3liMNY-UsXKQBQPbmF2ONxDotoqG0x-CMC4eVDJtgloPnR0y5OjZLfxRLqnvk= 
Ltd (SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical 
company pioneering allosteric modulation-based drug discovery and 
development, announced today that it has filed a registration statement 
on Form F-3 with the U.S. Securities and Exchange Commission (SEC) to 
provide flexibility for future offerings of shares, including those to 
be settled in the form of American Depositary Shares (ADSs). Each ADS 
represents the right to receive six shares of Addex. The terms of the 
future offerings have not been determined yet and there can be no 
assurance as to whether or when the offerings may be completed. Addex 
intends to file a prospectus supplement with the SEC, where required, to 
describe the specific terms of any such securities offering. 
 
   A registration statement on Form F-3 has been filed with the SEC but has 
not yet become effective. The securities referred to in the registration 
statement may not be sold, nor may offers to buy them be accepted, prior 
to the time the registration statement becomes effective. This press 
release shall not constitute an offer to sell or the solicitation of an 
offer to buy these securities, nor shall there be any sale of these 
securities in any state or jurisdiction in which such offer, 
solicitation or sale would be unlawful prior to registration or 
qualification under the securities laws of any such state or 
jurisdiction. 
 
   About Addex Therapeutics: 
 
   https://www.globenewswire.com/Tracker?data=PnB3_q7SnocXwhKbpoq8zJmg2uM-PyobzgX8EssudekYf_gD28ZZK65K4Wcv9DjKYwL2h79K8EHFA9TFy4_u5hx5zSGwpSGqPxHrRBZgwINPtThKOMhGbfPBkMU5fsae 
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 
poised to start  a pivotal registration clinical trial for Parkinson's 
disease levodopa induced dyskinesia (PD-LID) in 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 
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 study for the treatment of epilepsy in 2021. Addex's GABAB PAM 
program has been licensed to Indivior PLC for the treatment of 
addiction. Preclinical programs include GABA(B)  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. 
 
   Press Contacts: 
 
 
 
 
Tim Dyer                                                          Mike Sinclair 
 Chief Executive Officer                                           Partner, Halsin Partners 
 Telephone: +41 22 884 15 55                                       +44 (0)20 7318 2955 
 Email: mailto:PR@addextherapeutics.com PR@addextherapeutics.com   mailto:msinclair@halsin.com msinclair@halsin.com 
----------------------------------------------------------------  ------------------------------------------------- 
 
   Forward Looking Statements: 
 
   Statements in this announcement concerning the timing and terms of the 
anticipated offering of the Company's securities are forward-looking 
statements, which are subject to risks and uncertainties, including 
those risks 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. 
 
 
 
 
 
 

(END) Dow Jones Newswires

April 08, 2021 01:00 ET (05:00 GMT)

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More news
Financials
Sales 2021 3,90 M 4,22 M 4,22 M
Net income 2021 -16,8 M -18,2 M -18,2 M
Net cash 2021 11,0 M 11,9 M 11,9 M
P/E ratio 2021 -3,28x
Yield 2021 -
Capitalization 55,8 M 60,5 M 60,3 M
EV / Sales 2021 11,5x
EV / Sales 2022 55,7x
Nbr of Employees 27
Free-Float 72,6%
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Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 1,08 CHF
Last Close Price 1,64 CHF
Spread / Highest target -34,1%
Spread / Average Target -34,1%
Spread / Lowest Target -34,1%
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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