Addex Therapeutics reported financial results for Q3 2024, with revenue decreasing to CHF 54,000 from CHF 328,000 in Q3 2023 due to the termination of the Indivior research agreement. The company completed the divestment of its discovery platform to Neurosterix Pharma for CHF 5 million and a 20% equity stake in April 2024.Operating loss from continuing operations narrowed to CHF 622,000 from CHF 749,000 year-over-year. R&D expenses decreased to CHF 205,000 from CHF 491,000, while G&A costs fell to CHF 476,000 from CHF 588,000. The company recorded a CHF 875,000 share of loss from its Neurosterix investment.Addex ended the quarter with CHF 3.3 million in cash. The company expects its cash runway to extend through 2026 as it advances its GABAB PAM program for chronic cough. Management is evaluating options to monetize its intellectual property and raise additional capital to fund future operations.

Addex Therapeutics reported financial results for Q3 2024, with revenue decreasing to CHF 54,000 from CHF 328,000 in Q3 2023 due to the termination of the Indivior research agreement. The company completed the divestment of its discovery platform to Neurosterix Pharma for CHF 5 million and a 20% equity stake in April 2024.Operating loss from continuing operations narrowed to CHF 622,000 from CHF 749,000 year-over-year. R&D expenses decreased to CHF 205,000 from CHF 491,000, while G&A costs fell to CHF 476,000 from CHF 588,000. The company recorded a CHF 875,000 share of loss from its Neurosterix investment.Addex ended the quarter with CHF 3.3 million in cash. The company expects its cash runway to extend through 2026 as it advances its GABAB PAM program for chronic cough. Management is evaluating options to monetize its intellectual property and raise additional capital to fund future operations.