Addex Posts Narrower Loss In Q2
(RTTNews) - Addex Therapeutics Ltd (ADXN), a clinical-stage pharmaceutical company, released its second-quarter 2026 financial results on Monday and provided corporate updates for the quarter.
Addex is focused on developing a portfolio of novel small-molecule allosteric modulators for neurological disorders. The company's lead candidate dipraglurant is an oral mGlu5 negative allosteric modulator being developed for post-stroke and traumatic brain injury recovery.
Second Quarter 2026 Financial Results
For the second quarter ended June 30, 2026, net loss narrowed to CHF 1.74 million, or CHF 0.01 per share, compared with a loss of CHF 1.84 million, or CHF 0.02 per share, in the second quarter of 2025.
Net loss from continuing operations declined to CHF 1.74 million from CHF 1.96 million a year earlier, primarily reflecting lower research and development expenses and a reduced share of net losses from associates, partly offset by lower other income and higher general and administrative expenses.
Other income declined to CHF 0.01 million from CHF 0.36 million in the prior-year quarter.
Research and Development expenses decreased to CHF 0.04 million from CHF 0.23 million, while general and administrative expenditures increased to CHF 0.62 million from CHF 0.54 million in the prior-year quarter.
However, the company's share of net loss from equity-associated investments was CHF 1.10 million compared with CHF 1.23 million in the year-ago quarter.
Cash and cash equivalents as of June 30, 2026, totalled CHF 0.77 million. The company expects its current cash position to provide a runway through the fourth quarter of 2027.
Corporate Updates
Addex subsequently raised $2.8 million (CHF 2.2 million) through an at-the-market (ATM) offering agreement with H.C. Wainwright & Co.
The company regained rights to its GABA-B positive allosteric modulator (PAM) portfolio from Indivior and continued advancing NTX-253, an M4 PAM, through Phase 1 development at its spin-out company, Neurosterix with the study on track for completion in the fourth quarter of 2026.
Addex is also advancing an independent GABA-B PAM program for chronic cough through preclinical development.
Stock Quote
Addex shares have traded between $3.10 and $11.97 over the last year. ADXN closed Friday at $3.65, up 3.99%.
In the premarket, shares are up 1.67% at $3.66.
