Financial Data and Key Metrics Changes - The company recognized 0.6 million in Q2 2023, primarily from research funding with Indivior [23][24] - Continuing R&D expenses remained stable at 0.7 million in Q2 2024 compared to Q2 2023 [24] - The company completed Q2 2024 with CHF3.8 million in cash, with current liabilities decreasing by CHF1.9 million compared to June 30, 2023 [24][25] Business Line Data and Key Metrics Changes - The GABAB PAM program has made significant progress, with Indivior selecting a compound for development in substance use disorders, expecting to start IND enabling studies in H1 2025 [7][9] - The independent GABAB PAM program for chronic cough is expected to start IND enabling studies in 2025, pending financing [9][18] Market Data and Key Metrics Changes - The company launched Neurosterix with a Series A financing of $63 million, securing a 20% equity interest in the new entity [6][22] - The Neurosterix transaction is expected to alleviate financing pressures on Addex, allowing for the advancement of its preclinical portfolio [22][30] Company Strategy and Development Direction - The company aims to advance its GABAB PAM program for chronic cough and is exploring various clinical indications, including refractory chronic cough and COPD [29][30] - The strategic spin-out of Neurosterix is seen as a transformative move, strengthening the balance sheet and securing financing for preclinical development [22][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of dipraglurant for brain injury recovery, highlighting the large unmet medical need in post-stroke rehabilitation [10][11] - The company is focused on achieving better efficacy and tolerability compared to existing treatments in the chronic cough space [32][34] Other Important Information - The company has divested its allosteric modulation technology platform but retains a service agreement with Neurosterix to access necessary skills [22] - The company is on track to complete IND-enabling studies for Neurosterix compounds by mid-next year, with plans to file INDs for Phase 1 trials in the second half of 2025 [40] Q&A Session Summary Question: What specific clinical indications are being considered for the chronic cough program? - The company is considering refractory and unexplained chronic cough, as well as COPD or IPF-related chronic cough [29] Question: Are MED and ED50 used interchangeably? - No, MED refers to minimum effective dose, while ED50 is the effective dose that achieves 50% of the effect [30] Question: What comparator molecules will be used in the chronic cough program? - The company will consider baclofen and other GABAB PAMs, aiming for similar or better efficacy with improved tolerability [32] Question: Will Camlipixant be a competitor? - Yes, the company expects Camlipixant to be the standard-of-care by the time they reach later-stage development [33] Question: What are the prospects for the Neurosterix portfolio compounds? - The company anticipates completing IND-enabling studies in the middle of next year and filing INDs for Phase 1 trials in the second half of 2025 [40]
Addex Therapeutics(ADXN) - 2024 Q2 - Earnings Call Transcript