ADXN Reports Q1 2026 Results

Addex Therapeutics (NASDAQ: ADXN ) reported first-quarter financial results on Thursday. The transcript from the company's first-quarter earnings call has been provided below. APIs provide real-time access to earnings call transcripts and financial data. Visit to learn more.

The full earnings call is available at Summary Addex Therapeutics reported significant progress in its GABAB Positive Modulator Cough program, with preclinical data showing strong antitussive activity in non-human primates and guinea pigs. The company is preparing Diproglurant for clinical studies in post-stroke recovery patients, with recent repositioning efforts and collaborations enhancing its development. 5 million Swiss francs for Q1 2026, a decrease from the previous year due to reduced outsourced R&D. 9 million, providing a runway into Q4 2026, but not enough for unpartnered programs.

Addex retains a 20% equity interest in Neurosterix, which has advanced its M4PAM program into Phase 1, though this value is not reflected in Addex's current share price. The company is in discussions to secure funding for its independent GABAB program for cough and has potential milestone payments of up to 330 million in its collaboration with Indivior for substance use disorders. Full Transcript OPERATOR Good day and thank you for standing by. Welcome to the Addex Therapeutics first quarter 2026 financial results and Corporate Update Conference Call and Webcast.

At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you need to press Star 11 on your telephone keypad. You will then hear an automatic message advising your hand is raised.

To withdraw a question, please press Star 11 again. If you wish to ask a question via the webcast, please use the Q and A box available on the webcast link at any time during the live event. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, Tim Dyer, CEO.

Please go ahead. Tim Dyer, Chief Executive Officer Hello everyone. I would like to thank you all for attending our Q1 2026 financial results conference call. I am here with Mikhail Kalinichev, our Head of Translational Science, who will provide an update on our R&D program.

I draw your attention to the press release and the financial statements issued earlier today, which are available on our website. I also draw your attention to our disclaimer. We will be making certain forward-looking statements that are based on the knowledge we have today. I will start this conference call by giving a quick overview of our recent activities and achievements before reviewing our pipeline.

I will then hand over to Misha, who will review in more detail our MGLUR5 negative allosteric modulator program for brain injury recovery and the GABAB Positive Modulator program for cough. I will then review our 2026 Q1 financial results. Following that, we will open the call for Q&A. So starting with the highlights, Q1 has seen several important achievements across our pipeline.

We have made excellent progress in our GABAB Positive Modulator Cough program as we continue to complete preclinical characterization of our selective compound. We recently announced robust antitussive activity in a non-human primate cough model as well as solid antitussive activity in an idiopathic pulmonary fibrosis model in guinea pigs. These data further demonstrate the potential of our selected compound in this important unmet medical need. In parallel to completing the preclinical profiling, we are working to secure funding to advance the program into the IND enabling studies.

Mikael will be sharing some of the data with you later in our presentation. We have repositioned diproglurant, our MGLUR5 negative allosteric modulator for brain injury recovery, and have made good progress in preparing the program for clinical studies in post-stroke recovery patients. In 2025, we entered into an option agreement giving us access to an exclusive license to intellectual property covering the use of MGLUR5 in brain injury recovery, including stroke and TBI.

Included in the agreement is a research collaboration under which we are working with Syntaxis and the University of Lund in Sweden to complete preclinical profiling of Diproglurant and prepare for clinical studies. Again, Misha will talk more about this exciting program later in the presentation. As a reminder, we spun out our portfolio of preclinical neuropsychiatric assets in 2024 to create Neurosterix and raised 65 million from a syndicate of investors led by Perceptive Advisors. We retained a 20% equity interest in Neurosterix, the value of which is unfortunately not being properly reflected in our current share price.

Neurosterix has made excellent progress in advancing its pipeline, including its M4PAM and MGLUR7NAM programs. The lead drug candidate in the M4PAM program, NTX253, is in phase one, and we expect data in Q3 this year. 3 million in Q2. Given that our cash burn is extremely low following the Neurosterix spin-out, this provides us with a cash runway through into Q4 of 2026 on a going concern basis.

However, current cash does not fund the progression of our unpartnered programs into the clinic. So now for a quick review of our pipeline. As mentioned, we continue to believe in diproglurant and we are executing our plans to reposition the development for brain injury recovery. As a reminder, we have regained the right to ADX 71149 from our partner JJ with a high-value data set and significant GMP materials.

We're currently evaluating a number of therapeutic indications for future developme