Release Date: September 30, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Addex Therapeutics Ltd (ADXN, Financial) secured USD 63 million in Series A financing led by Perceptive Advisors, providing resources to advance their preclinical portfolio without diluting shareholders' interests.
- The company received CHF 5 million and a 20% equity interest in Neurosterix, strengthening their balance sheet and retaining significant upside potential.
- Excellent progress in the GABAB PAM program with partner Indivior selecting a compound for development in substance use disorders, with potential milestone payments up to $330 million.
- Dipraglurant is being repositioned for brain injury recovery, addressing a large unmet medical need in post-stroke rehabilitation.
- Neurosterix has made significant advancements, including starting IND-enabling studies with the M4 PAM program for schizophrenia.
Negative Points
- Technical issues during the earnings call presentation, requiring attendees to download the presentation separately.
- Janssen Pharmaceuticals discontinued development of ADXM1149 in epilepsy, although the partnership remains ongoing.
- The company’s financials show a decrease in income from CHF 0.6 million in Q2 2023 to CHF 0.1 million in Q2 2024.
- Current liabilities decreased by CHF 1.9 million compared to June 30, 2023, indicating potential financial constraints.
- Uncertainty remains regarding the specific clinical indications for the chronic cough program, with no finalized patient population yet.
Q & A Highlights
Q: Can you provide details on the specific clinical indications for the chronic cough program?
A: We haven't finalized the clinical patient population yet. Currently, we are considering refractory and unexplained chronic cough as one possibility, but we are also open to targeting COPD or IPF-related chronic cough.
Q: Do you use the terms MED (Minimum Effective Dose) and ED50 (Effective Dose 50%) interchangeably?
A: No, MED refers to the minimum effective dose, while ED50 is the dose that achieves 50% of the maximum effect.
Q: What are the most appropriate comparator or competitor molecules for your chronic cough program?
A: We consider baclofen and other GABAB agonists as benchmarks. We aim to achieve similar or better efficacy with improved tolerability.
Q: Are you expecting Guinea Pigs to be the standard of care by the time you reach later-stage development?
A: Yes, we expect Guinea Pigs to be the standard of care and will compare our compound with them.
Q: What are your thoughts on the recent developments in the neurology and neuropsychiatry space, particularly regarding the Neurosterix spin-out?
A: We haven't had a chance to thoroughly review the label for Cobenfy, but its broad label bodes well for other M4 compounds coming up for regulatory approval.
Q: How does your M4 modulation chemistry differ from others?
A: Our M4 modulation chemistry is novel and completely different from any described M4 chemistry, including those in other M4 PAM programs.
Q: When do you anticipate completing IND-enabling studies for the Neurosterix portfolio compounds?
A: We are on track to complete IND-enabling studies by mid-2025 and aim to file the IND to move into Phase 1 in the second half of 2025.
Q: Are you in a position to discuss the prospects for a public listing of Neurosterix?
A: I'm not at liberty to discuss the strategy of Neurosterix on this conference call.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
