Addex Therapeutics Ltd (ADR) ( (ADXN) ) has released its Q1 earnings. Here is a breakdown of the information Addex Therapeutics Ltd (ADR) presented to its investors.
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Addex Therapeutics Ltd, a clinical-stage biopharmaceutical company, focuses on developing novel small molecule allosteric modulators for neurological disorders. In its latest earnings report for the first quarter of 2025, the company reported a net loss of CHF 1.47 million, reflecting a challenging financial period. The report highlighted a decrease in total assets from CHF 10.68 million at the end of 2024 to CHF 9.48 million by March 2025, alongside a reduction in cash and cash equivalents by CHF 0.5 million.
Key financial metrics reveal that Addex Therapeutics experienced an operating loss of CHF 606,262, with no revenue from contracts with customers during the quarter, compared to CHF 233,480 in the same period last year. The company also faced a significant share of net loss from its investment in Neurosterix US Holdings LLC, amounting to CHF 847,451. Despite these challenges, the company managed to reduce its operating costs to CHF 677,317 from CHF 1.02 million in the previous year.
The company’s strategic focus remains on its research and development efforts, which accounted for CHF 156,066 of its operating costs. General and administrative expenses were also a significant portion, totaling CHF 521,251. Addex Therapeutics continues to explore options for additional funding to support its operations and research initiatives, as the current cash reserves are projected to sustain operations until mid-June 2026.
Looking ahead, Addex Therapeutics is focused on securing additional capital through public or private financings or collaboration agreements to continue its development programs. The management remains committed to advancing its pipeline of allosteric modulators, despite the financial uncertainties and challenges posed by the current market conditions.