Addex Therapeutics (SIX: ADXN), a leading allosteric modulation-based drug discovery and development company, today reported its half-year financial results for the period ended June 30, 2019 and provided an update on corporate activities.
Corporate Highlights:
- Dipraglurant pivotal phase 2b/3 clinical trial on track to dose first patient in Q1 2020 and readout topline results in Q3 2021
- Indivior funded GABAB PAM research program on track to deliver drug candidates by end of 2020
- Addex led consortium awarded Eurostars grant of €4.85 million to fund discovery of mGlu7 NAM drug candidates for post-traumatic stress disorder
- Completed H1 2019 with a strong liquidity position of CHF36.7 million of cash and cash equivalents
- Started US listing process – registration statement confidentially submitted to the SEC for American Depositary Shares (ADS) representing our ordinary shares
- Continued building our capabilities in Switzerland and US – incorporated Addex Pharmaceuticals Inc. in May 2019
“We have made solid progress executing our strategy to advance our pipeline and expect to dose the first patient in our dipraglurant phase 2b/3 pivotal clinical trial for dyskinesia associated with Parkinson’s disease in Q1 2020,” said Tim Dyer CEO of Addex. “We also recently confidentially submitted a registration statement to the SEC, which in a standard process would put us on a path to become a US listed company by the end of the year.”
