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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.

Dipraglurant data supports orphan disease focus

Update | Pharmaceutical & healthcare | 19/04/2013

Positive preclinical data for dipraglurant in dystonia supports progression into a Phase II study for rare dystonias in H113. Phase II results (Q413), if positive, could trigger a larger Phase IIb trial (2014). Addex continues to target a dipraglurant partnership for Parkinson’s disease (PD), which may be informed by upcoming Phase II results (Q213) for Novartis’s competing mGlu5 inhibitor (AFQ056). While Addex is currently financed to end-2013, potential deals and/or financings could extend the cash runway. A planned NASDAQ listing (timing tbc) in our view, could be a prelude to a financing.

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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
SectorPharmaceutical & healthcare

Price performance

Relative *(4.8)(8.9)(23.3)

* % Relative to local index