Recent Developments at Addex Therapeutics
Ad Hoc Announcement
Addex Therapeutics, a clinical-stage biopharmaceutical firm, has made a significant move by issuing 34,300,000 new registered shares. These shares, issued by Addex Pharma S.A, a wholly-owned subsidiary, allow the company to strategically increase its issued share capital to CHF 2,186,544.96. This adjustment reflects the company’s determination to enhance its financial flexibility moving forward.
Strategic Financial Maneuvers
The additional shares, all with a nominal value of CHF 0.01, are now officially listed on the SIX Swiss Exchange. In contrast, the overall number of outstanding shares remains unchanged. By expanding the capital structure in this manner, Addex aims to secure a more favorable financial arrangement for future endeavors. This decision underscores a broader strategy to ensure the company remains agile and well-prepared for opportunities that arise in the pharmaceutical industry.
Growth Through Innovation
Adapting swiftly to the evolving landscape of biopharmaceuticals, Addex Therapeutics focuses on developing groundbreaking treatments, primarily small molecule allosteric modulators aimed at tackling neurological disorders. Their lead drug candidate, dipraglurant, is currently under assessment for its potential in brain injury rehabilitation, including challenging conditions like post-stroke recovery.
Collaborations and Advancements
One of the standout aspects of Addex’s journey is its partnership with Indivior. This collaboration has successfully identified a GABAB PAM drug candidate targeting substance use disorders, which has effectively completed IND enabling studies, paving the way for further development. Additionally, Addex is concurrently pushing forward with its independent GABAB PAM program, which focuses on chronic cough therapy—a condition that affects many individuals globally.
Investment in Future Growth
Besides developing its own pipeline, Addex has made strategic investments that may ripple through the market. The company holds a 20% stake in Neurosterix LLC, which is advancing several allosteric modulator programs, addressing significant mental health issues such as schizophrenia and mood disorders. Furthermore, they have invested in Stalicla, a company that is committed to precision medicine in neurodevelopmental disorders. These partnerships not only enhance Addex's portfolio but also position it to influence the treatment landscape profoundly.
Market Presence and Contact Information
With shares listed both on the SIX Swiss Exchange and the NASDAQ under the ticker symbol “ADXN,” Addex Therapeutics continues to maintain a robust presence in the market. Interested parties can find more about their innovations and offerings by visiting their official website.
Contacts:
For any inquiries, Tim Dyer, the Chief Executive Officer, is reachable at +41 22 884 15 55 or via email at PR@addextherapeutics.com. Additionally, Mike Sinclair, a Partner at Halsin Partners, can be contacted at +44 (0)7968 022075, or via email at msinclair@halsin.com.
Frequently Asked Questions
What recent changes did Addex Therapeutics announce regarding share capital?
Addex Therapeutics has issued 34,300,000 new registered shares to enhance their issued share capital and improve financial flexibility.
How does this share capital increase affect existing shareholders?
The number of outstanding shares remains unchanged, meaning existing shareholder stakes are preserved, while new capital will support future growth.
What is Addex Therapeutics' focus in the biopharmaceutical sector?
Addex focuses on developing small molecule allosteric modulators for neurological disorders, aiming to create innovative treatments for challenging conditions.
What notable partnerships does Addex have?
Addex has established a partnership with Indivior to develop GABAB PAM drug candidates for treatment of substance use disorders and related conditions.
Where can I find more information about Addex Therapeutics?
For more details, visit Addex Therapeutics' official website, which provides insights into their current projects and strategic direction.
