Addex Therapeutics Ltd.
Addex Therapeutics Ltd. Q2 FY2024 earnings call
September 30, 2024 · fiscal period ended 2024-06
EPS · actual vs est
Revenue · actual vs est
Summary
Generated 2024-09-30
Management highlights
• Launched Neurosterix with a $63 million Series A led by Perceptive Advisors, receiving CHF5 million and a 20% equity interest in Neurosterix. • Partner Indivior selected a GABAB PAM compound for substance use disorders development, with IND enabling studies expected in H1 2025. • Exercised right to select an independent compound for chronic cough GABAB PAM program, with preclinical efficacy and tolerability demonstrated. • Dipraglurant repositioned for brain injury recovery, ready to restart clinical development. • Neurosterix made progress in advancing its pipeline, including starting IND-enabling studies with its M4PAM program.
Segment performance
There are no detailed product segments with revenue contribution percentages provided in the transcript. The financials for continuing operations show $0.1 million of income in Q2 2024 from Indivior collaboration, R&D expenses of $0.3 million in Q2 2024, and G&A expenses of $0.7 million in Q2 2024.
Guidance
• Indivior expects to start IND enabling studies for GABAB PAM in substance use disorders in the first-half of 2025. • Addex's independent GABAB PAM cough program has IND enabling studies planned to start in 2025. • Neurosterix on track to complete IND-enabling studies in the middle of 2025 and file IND to move into Phase 1 in the second-half of 2025.
Q&A highlights
Q: Asked about specific clinical indications for the chronic cough program, including COPD, sarcoidosis, etc., and clinical path forward.
A: Tim Dyer said they haven't finalized, considering refractory and unexplained chronic cough, open to COPD or IPF-related; Misha Kalinichev added aim to achieve efficacy in broader population than Camlipixant.
Q: Asked about recent neurology neuropsychiatry developments and applicability to Neurosterix spin-out, and pharmacophore of M4 positive allosteric modulator.
A: Misha Kalinichev said broad label for Cobenzie bodes well for other M4 compounds; Tim Dyer said their M4 chemistry is novel, different from emraclidine.
Q: Asked about when first Neurosterix portfolio compound might complete IND-enabling studies.
A: Tim Dyer said on track to complete in middle of 2025 and file IND for Phase 1 in second-half of 2025.
Key numbers
Reported versus consensus
Earnings calendar feed
| Metric | Reported | Consensus | Delta | Prior year |
|---|---|---|---|---|
| EPS | $-1.77 | $-0.01 | -17600.0% | $-5.00 |
| Revenue | $128,657 | $260,000 | -50.5% | $703,351 |
Transcript
September 30, 2024Full transcript unavailable for redistribution
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