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Addex Therapeutics (ADXN)

Business description

Addex Therapeutics is a Swiss biotech company with a leading position in the identification of allosteric modulators with activity in CNS, inflammatory and metabolic disease. Its pipeline includes two Phase II compounds, with one partnered with J&J.

Lilly issues may give Addex a boost

Update | Pharmaceutical & healthcare | 30/07/2012

Addex has seen an unexpected boost to the prospects for its lead partnered product, JNJ-40411813, as a result of a trial setback reported recently with Lilly’s pomaglumetad methionil, a mechanistically-close competitor. The news may allow Janssen Pharmaceuticals, Addex’s partner, to catch up with a rival that had hitherto been several years ahead. Both products aim to up-regulate mGluR2, but Lilly’s is an orthosteric mGluR2/3 agonist, while Addex’s is a more selective mGluR2 PAM. Meanwhile J&J is completing its own Phase II study in schizophrenia and is starting a Phase II study in anxiety co-morbid with depression.

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Stock data

Market cap.CHF32.9m
Last closeCHF2.140
High / Low (52 weeks)CHF2.5 / CHF1.8
Stock market listingSW
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(1.8)(4.9)(12.7)
Relative *(4.8)(8.9)(23.3)

* % Relative to local index