Addex Therapeutics(ADXN) - 2025 Q3 - Earnings Call Transcript

Financial Data and Key Metrics Changes - Income in Q3 2025 remained similar to Q3 2024, amounting to $100,000, primarily related to patent maintenance funded by Indivior and fair value of services from NeuroStarix Group [21] - R&D expenses were $200,000 in Q3 2025, remaining stable compared to Q3 2024, mainly related to the GABA B PAM program [21] - G&A expenses were $500,000 in Q3 2025, consistent with Q3 2024 [22] - The company completed Q3 2025 with CHF 2.2 million in cash, providing a cash runway through mid-2026 [8][22] Business Line Data and Key Metrics Changes - The GABA B PAM program for chronic cough is advancing, with IND enabling studies planned, subject to securing financing [10][19] - The dipraglutide program for post-stroke recovery is being repositioned, with good progress in preparing for clinical studies [6][10] Market Data and Key Metrics Changes - There is a significant unmet medical need in chronic cough treatment, with current standards of care ineffective in 30% of patients and only moderately effective in up to 60% [15][16] - The post-stroke recovery market shows a large unmet need, with over 100 million stroke survivors worldwide and a growing annual rate of 12 million [12] Company Strategy and Development Direction - The company is focusing on advancing its pipeline, particularly the GABA B PAM program and dipraglutide for brain injury recovery [24] - A research collaboration with Syntaxis and the University of Lund is in place to complete preclinical profiling and prepare for clinical studies [7] Management's Comments on Operating Environment and Future Outlook - Management highlighted the progress in the GABA B PAM program and the dipraglutide program, expressing optimism about their potential [24] - The company is aware of the competitive landscape in post-stroke recovery and is planning to collaborate with ongoing clinical programs to gain insights [39][40] Other Important Information - The cash burn has been significantly reduced following the NeuroStarix spin-out transaction, although current cash does not fund the progression of unpartnered programs into the clinic [8] Q&A Session Summary Question: Commercial outlook for chronic refractory cough - Management noted that gefapixant is not performing well, and there is a significant unmet medical need in chronic cough treatment [31][32] Question: Funding catalyst for Stellixla and potential IPO - Stellixla is working on Series C financing to fund Phase II studies and is considering an IPO as a potential funding mechanism [38] Question: Competitive clinical development in post-stroke recovery - Management acknowledged the importance of the CAMARUS trial and plans to collaborate with involved parties to learn from the study [39][40] Question: Indivior's next steps in collaboration - Indivior has completed IND enabling studies and is preparing to move the program forward, but specific details could not be disclosed [43]