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Addex Therapeutics Ltd (ADR) (ADXN)
:ADXN
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Addex Therapeutics
(NASDAQ:ADXN)
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Rating:60Neutral
Price Target:
$11.50
▲(5.02% Upside)
Addex Therapeutics' overall score reflects a mix of positive technical momentum and strategic achievements in partnerships, offset by significant financial challenges and valuation concerns. The company's ability to secure milestone payments and manage cash effectively will be crucial for future performance.
Addex Therapeutics (ADXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.01M
Dividend YieldN/A
Average Volume (3M)55.07K
Price to Earnings (P/E)―
Beta (1Y)0.36
Revenue Growth-80.31%
EPS Growth-293.92%
CountryUS
Employees2
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.02
Shares Outstanding1,536,287
10 Day Avg. Volume35,977
30 Day Avg. Volume55,073
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.54
Price to Sales (P/S)12.67
P/FCF Ratio-0.97
Enterprise Value/Market Cap0.56
Enterprise Value/Revenue30.96
Enterprise Value/Gross Profit751.26
Enterprise Value/Ebitda-1.04
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Addex Therapeutics Business Overview & Revenue Model
Company DescriptionAddex Therapeutics Ltd, a development-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule pharmaceutical products for central nervous system (CNS) disorders in Switzerland. The company focuses on the discovery of oral small molecule allosteric modulators of G-protein coupled receptors. Its lead programs include Dipraglurant for the treatment of Parkinson's disease levodopa-induced dyskinesia, and dystonia; ADX71149 for epilepsy and undisclosed CNS disorders; and GABAB PAM for addiction. It has license and collaboration agreement with Janssen Pharmaceuticals Inc.; Indivior PLC; and The CharcotMarieTooth Association. The company was formerly known as Addex Pharmaceuticals Ltd and changed its name to Addex Therapeutics Ltd in March 2012. Addex Therapeutics Ltd was founded in 2002 and is headquartered in Geneva, Switzerland.
How the Company Makes MoneyAddex Therapeutics generates revenue primarily through collaborative research and development partnerships, as well as licensing agreements with other pharmaceutical companies. These partnerships often involve upfront payments, milestone payments based on the achievement of specific development or regulatory goals, and royalties on potential future sales of successfully developed products. The company's revenue model is heavily reliant on the successful advancement of its drug candidates through clinical trials and securing favorable partnership agreements with larger pharmaceutical entities. Additionally, Addex may receive funding from grants and public or private sector investments to support its research activities.
Addex Therapeutics Earnings Call Summary
Earnings Call Date:Sep 30, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 10, 2025
Earnings Call Sentiment Neutral
The earnings call presented a balanced view with significant achievements in collaborative and strategic partnerships, financial stability, and progress in R&D. However, there were challenges related to decreased income, increased net loss from an associated venture, and limited cash for unpartnered programs.Q2-2025 Updates
Positive Updates
Successful Completion of IND-Enabling Studies
Indivior completed IND-enabling studies for a GABAB PAM drug candidate for substance use disorders, a key milestone in their partnership.
Regained Rights to mGlu2 Program
Addex regained rights to the mGlu2 positive allosteric modulator program, including the Phase II asset ADX71149, from Johnson & Johnson.
Investment in Stalicla
Invested in Stalicla, a neurodevelopmental disorder-focused company, which has developed a precision medicine platform for patient stratification.
Financial Stability
Completed the half year with CHF 2.3 million in cash, providing a runway through mid-2026.
Reduced Cash Burn
Cash burn significantly reduced following the Neurosterix spin-out transaction.
Negative Updates
Decrease in Income
Income decreased by CHF 0.1 million in Q2 2025 compared to 2024, mainly due to the completion of the funded research phase with Indivior.
Increased Net Loss from Neurosterix
Share of net loss from 20% participation in Neurosterix Group increased by CHF 0.7 million, amounting to CHF 1.2 million for Q2 2025.
Limited Cash for Unpartnered Programs
Current cash does not fund the progression of unpartnered programs into the clinic.
Company Guidance
In the Addex Therapeutics Half Year 2025 Financial Results call, the company reported substantial progress in its GABAB PAM program, particularly highlighting the completion of IND-enabling studies in partnership with Indivior for a substance use disorders drug candidate. Under this agreement, Addex is eligible for up to USD 330 million in payments upon achieving specific milestones, alongside tiered royalties. They also regained rights to their mGlu2 positive allosteric modulator program from Johnson & Johnson and are exploring new therapeutic indications. Financially, Addex ended the first half of 2025 with CHF 2.3 million in cash, projecting a runway through mid-2026, although this does not cover advancing unpartnered programs into the clinic. Their R&D expenses decreased to CHF 0.2 million, reflecting the completion of certain research phases. Addex is also advancing its independent GABAB PAM program for chronic cough, with preclinical studies showing promising efficacy and tolerability. The company is actively seeking financing to initiate IND-enabling studies for this program.Addex Therapeutics Financial Statement Overview
Summary
Addex Therapeutics is facing significant financial challenges, with negative profitability and cash flow issues typical of early-stage biotech companies. Despite a strong equity position and low leverage, the persistent losses and cash flow difficulties pose potential risks.Income Statement
Addex Therapeutics has faced significant challenges in its income statement, with consistently negative gross profit margins and net income over the years. The company also shows a declining revenue trend, with revenue decreasing from 2020 to 2024. The gross profit margin and net profit margin are negative, indicating that the company is struggling to manage costs relative to its revenue, which is common in early-stage biotechnology companies.25
Negative
Balance Sheet
The balance sheet reflects a relatively strong equity position with a high equity ratio. The debt-to-equity ratio is low, indicating limited leverage, which is a positive sign of financial stability. However, the company has experienced a decrease in total assets over the years, and stockholders' equity has fluctuated, reflecting volatility in its financial position.55
Neutral
Cash Flow
Addex Therapeutics has experienced persistent negative free cash flow, indicating challenges in generating cash from operations. Although there was a decrease in negative operating cash flow in 2024, the company continues to rely on external financing. The free cash flow to net income ratio is unfavorable, highlighting ongoing cash flow challenges.30
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 162.78K | 410.04K | 1.61M | 1.42M | 2.92M | 3.61M |
| Gross Profit | 6.71K | -444.26K | 430.50K | -13.20M | -9.67M | -6.49M |
| EBITDA | -4.84M | -4.65M | -10.23M | -10.53M | -14.94M | -12.41M |
| Net Income | -6.05M | 7.06M | -10.56M | -20.80M | -15.35M | -12.86M |
Balance Sheet | ||||||
| Total Assets | 8.51M | 10.68M | 4.64M | 8.28M | 22.54M | 20.18M |
| Cash, Cash Equivalents and Short-Term Investments | 2.30M | 3.35M | 3.87M | 6.96M | 20.50M | 18.76M |
| Total Debt | 38.39K | 41.99K | 344.34K | 373.13K | 482.01K | 567.40K |
| Total Liabilities | 1.29M | 1.00M | 3.50M | 3.37M | 5.61M | 5.57M |
| Stockholders Equity | 7.21M | 9.68M | 1.15M | 4.91M | 16.93M | 14.61M |
Cash Flow | ||||||
| Free Cash Flow | -1.44M | -5.37M | -8.00M | -16.44M | -14.74M | -12.24M |
| Operating Cash Flow | -1.44M | -5.37M | -7.99M | -16.44M | -14.71M | -12.18M |
| Investing Cash Flow | -759.10K | 4.65M | -6.84K | 2.97K | -30.31K | -59.41K |
| Financing Cash Flow | 744.97K | 104.92K | 5.26M | 3.10M | 16.40M | 46.40K |
Addex Therapeutics Technical Analysis
Neutral
10.95
Price Trends
8.75
Positive
8.67
Positive
8.20
Positive
Market Momentum
0.09
Negative
49.54
Neutral
28.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADXN, the sentiment is Neutral. The current price of 10.95 is above the 20-day moving average (MA) of 9.11, above the 50-day MA of 8.75, and above the 200-day MA of 8.20, indicating a neutral trend. The MACD of 0.09 indicates Negative momentum. The RSI at 49.54 is Neutral, neither overbought nor oversold. The STOCH value of 28.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ADXN.
Addex Therapeutics Risk Analysis
Addex Therapeutics disclosed 54 risk factors in its most recent earnings report. Addex Therapeutics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Addex Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $9.01M | ― | -61.65% | ― | -80.31% | -293.92% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $61.54M | ― | ― | ― | -3.49% | 27.88% | |
44 Neutral | $24.98M | ― | -503.80% | ― | ― | 60.64% | |
34 Underperform | $17.41M | 1.68 | ― | ― | ― | ― | |
34 Underperform | $16.41M | ― | -9690.24% | ― | 1943.07% | 80.97% |
* Healthcare Sector Average
ADXN
Addex Therapeutics
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.