Addex Therapeutics Ltd. Q4 FY2024 earnings call

• Launched Neurosterix with a US$65 million Series A financing, receiving CHF5 million in cash and a 20% equity interest in Neurosterix.
• Made progress in GABAB PAM program: Indivior selected a compound for substance use disorders and started R&D enabling studies; Addex selected a compound for chronic cough, with pre-clinical profiling completed.
• Repositioned dipraglurant for brain injury recovery and regained rights to ADX-71149 from Johnson & Johnson.
• Ended 2024 with CHF3.3 million in cash, providing a cash runway through mid-2026, with cash burn reduced post-Neurosterix spin-out.
• Dipraglurant shows potential for brain injury recovery with good tolerability, and GABAB PAM for chronic cough has strong pre-clinical efficacy and tolerability.

No specific product segment financial performance reported as the transcript does not detail revenue contribution percentages or absolute financials for distinct product segments.

• Expect to announce results from Indivior's R&D enabling studies soon.
• Neurosterix started R&D enabling studies with its M4 PAM program.
• Dipraglurant is ready to restart clinical development for brain injury recovery.
• IND enabling studies for GABAB PAM chronic cough program planned to start this year.

• Current cash does not fund the progression of unpartnered programs into the clinic.
• Dependence on partnerships and successful achievement of pre-specified regulatory, clinical, and commercial milestones for potential payments up to US$330 million.

Q: About Neurosterix, other projects?

A: Neurosterix was founded as a spin-out with 4 programs: a muscarinic M4 PAM, an mGluR7 negative modulator program, an mGluR2 negative allosteric modulator program, and an undisclosed early-stage program, all focused on neuropsychiatry, schizophrenia, mood disorders, cognition, and an undisclosed CNS indication.

Q: About dipraglurant in neuro-rehabilitation, other contexts?

A: Plan to conduct clinical pharmacology studies in healthy volunteers to assess neuroplasticity, then move to post-stroke patients to design phase 2a studies on rehabilitation approaches.

Q: Impact of COBENFY Phase 3 failure in neuropsych field?

A: Minimal impact on Addex's strategy; continues to pursue monotherapy with muscarinic M4 for psychosis.

Q: Future of ADX-71149 returned from J&J?

A: Discussing collaborations, evaluating development paths, with significant material (about 280 kilograms of API) available for exploration