Addex Therapeutics (ADXN), a clinical-stage biopharmaceutical company, on Friday announced first quarter financial results, noting a net loss due to reduced incomes.
The company specializes in the development of novel small molecule allosteric modulators for the treatment of neurological disorders.
Shares fell over 6% in Wednesday's trade.
Q1 2026:
The company reported a net loss of CHF 1.71 million or CHF 0.01 per share, higher than the net loss of CHF 1.47 million or CHF 0.01 in 2025. The wider loss can be attributed to the lower revenue recorded this year.
Revenues for the first quarter reached CHF 8,000, a significant decrease from the CHF 71,000 recorded in the first quarter a year ago.
Research and Development (R&D) expenses came to CHF 0.04 million in the first quarter, compared to CHF 0.16 million in the previous year.
Cash and cash equivalents held by the company on March 31, 2026, totaled CHF 0.93 million.
Operational Highlights:
The company is currently advancing the M4 positive allosteric modulator NTX-253 via its spun-out company, Neurosterix. The drug is on track to complete a Phase 1 trial in the treatment of schizophrenia in July.
The company is also developing GABAB PAM for the treatment of chronic cough in preclinical studies.
ADXN closed Wednesday at $6, down 6.10%. In after-hours, the stock is trading at $5.99, down 0.17%.
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