The following is a summary of the Addex Therapeutics Ltd (ADXN) Q1 2024 Earnings Call Transcript:
Financial Performance:
Addex Therapeutics reported a revenue of CHF0.2 million in Q1 2024, primarily from research funding.
R&D expenses for the GABAB PAM program were stable at CHF0.3 million.
General and Administrative expenses increased due to legal fees related to the Neurosterix transaction.
After the Neurosterix transaction, they recognized CHF5 million, enhancing their balance sheet with total assets primarily held in cash.
Business Progress:
Launched Neurosterix with a Series A funding of $63 million.
Partnership with Indivior advancing with a funded GABAB modulator program for substance use disorders.
Development of dipraglurant for post-stroke recovery advanced.
Preparing to start IND enabling studies for their independent GABAB cough program.
Opportunities:
The differentiation of dipraglurant for post-stroke recovery catering to a large unmet medical need in rehabilitation therapies.
Potential expansions in partnering for dipraglurant in various unmet medical areas.
Advancing M4 PAM, mGlu7NAM, and mGlu2NAM programs with secured financing in the specialized entity, Neurosterix.
Risks:
The epilepsy program with Janssen did not meet its primary endpoint, raising uncertainties about the future of this collaboration.
More details: Addex Therapeutics IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.