Addex Therapeutics: Strategic Partnerships Fuel Q3 2024 Growth
Saturday, Nov 23, 2024 2:11 am ET
3min read Addex Therapeutics Ltd (ADXN), a clinical-stage biopharmaceutical company, reported its Q3 2024 earnings call, highlighting significant progress in its drug development programs and strategic partnerships. Despite a dip in revenue, the company's advancements in its GABAB positive allosteric modulator program and strategic collaborations have positioned it for long-term growth.
Addex Therapeutics' GABAB positive allosteric modulator program has made significant strides, completing the R&D phase and delivering multiple drug candidates. The company has also made progress in its partnership with Indivior, leading to the selection of a compound for development in substance use disorder, with IND-enabling studies already underway. This partnership is expected to generate up to USD330 million in milestone payments and tiered royalties for Addex.
In addition, Addex Therapeutics has selected a compound to advance its independent GABAB PAM program for chronic cough, with promising preclinical data. Neurosterix, a spin-out company, has also made excellent progress, starting IND-enabling studies with its M4 PAM program. These strategic partnerships and advancements in drug development programs demonstrate Addex's commitment to driving innovation and growth.
Despite a decrease in income for Q3 2024, Addex Therapeutics reported a decrease in income for Q3 2024, recognizing CHF0.1 million compared to CHF0.3 million in Q3 2023. This decrease can be attributed to the completion of the funded research phase of the Indivior collaboration, which led to both companies selecting GABAB PAM drug candidates for further development. However, this was offset by the company's strategic partnerships, which are expected to generate significant milestone payments and tiered royalties.
Addex Therapeutics' strategic partnerships and drug development programs have positioned the company for long-term growth. Despite a dip in revenue in Q3 2024, the company's advancements in its GABAB positive allosteric modulator program and strategic collaborations have set the stage for continued success. As Addex Therapeutics continues to execute its strategic priorities, investors can expect to see a balanced financial position and ongoing progress in its drug development pipeline.
Addex Therapeutics' GABAB positive allosteric modulator program has made significant strides, completing the R&D phase and delivering multiple drug candidates. The company has also made progress in its partnership with Indivior, leading to the selection of a compound for development in substance use disorder, with IND-enabling studies already underway. This partnership is expected to generate up to USD330 million in milestone payments and tiered royalties for Addex.
In addition, Addex Therapeutics has selected a compound to advance its independent GABAB PAM program for chronic cough, with promising preclinical data. Neurosterix, a spin-out company, has also made excellent progress, starting IND-enabling studies with its M4 PAM program. These strategic partnerships and advancements in drug development programs demonstrate Addex's commitment to driving innovation and growth.
Despite a decrease in income for Q3 2024, Addex Therapeutics reported a decrease in income for Q3 2024, recognizing CHF0.1 million compared to CHF0.3 million in Q3 2023. This decrease can be attributed to the completion of the funded research phase of the Indivior collaboration, which led to both companies selecting GABAB PAM drug candidates for further development. However, this was offset by the company's strategic partnerships, which are expected to generate significant milestone payments and tiered royalties.
Addex Therapeutics' strategic partnerships and drug development programs have positioned the company for long-term growth. Despite a dip in revenue in Q3 2024, the company's advancements in its GABAB positive allosteric modulator program and strategic collaborations have set the stage for continued success. As Addex Therapeutics continues to execute its strategic priorities, investors can expect to see a balanced financial position and ongoing progress in its drug development pipeline.
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