The following is a summary of the Addex Therapeutics Ltd (ADXN) Q4 2023 Earnings Call Transcript:
Financial Performance:
Addex secured CHF5 million by spinning out its unpartnered preclinical portfolio into a new private company, Neurosterix.
R&D expenses reduced from CHF14.7 million in 2022 to CHF7 million in 2023 due to termination of Dipraglurant development for Parkinson's disease.
G&A expenses reduced from CHF7.3 million in 2022 to CHF5 million in 2023 due to decreased D&O insurance costs.
Business Progress:
Addex is awaiting data from the Phase 2 epilepsy clinical study conducted by partner, Janssen.
Addex identified post-stroke recovery as a potential area for future development of Dipraglurant and is currently profiling it in preclinical models.
Extension of the GABAB PAM Indivior collaboration funded Addex with additional CHF2.7 million for research.
Addex plans to advance multiple drug candidates into IND enabling studies in H2 2024.
With the launch of Neurosterix with a $63 million Series A financing round, Addex plans to progress its preclinical portfolio without diluting its clinical-stage asset and partner program.
Addex Therapeutics is in talks with potential partners for Dipraglurant in PD-LID and post-stroke recovery. It also plans to move M4 PAM program through Phase 1 development.
More details: Addex Therapeutics IR
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