Summary by Futu AI
Addex Therapeutics reported a provisional net loss of CHF 1.5 million for Q3 2024, compared to a net profit of CHF 12.9 million in Q2 2024. The CHF 14.4 million decrease is primarily attributed to a non-recurring CHF 14.0 million gain from the sale of part of Addex's business to Neurosterix in Q2. The company expects to generate quarterly losses in the future.Despite the Q3 loss, Addex's nine-month results remain positive with a net profit of CHF 8.3 million, down from CHF 9.8 million for the six-month period ended June 30, 2024. The cash position stood at CHF 3.3 million as of September 30, 2024. Final Q3 and nine-month results are still under review and may be subject to change.Addex will release its full Q3 2024 Financial Results on November 22, 2024, followed by a teleconference and webcast for investors, analysts, and media at 16:00 CET. The company continues to focus on developing novel small molecule allosteric modulators for neurological disorders, with its lead candidate dipraglurant under evaluation for brain injury recovery.
