Addex Therapeutics Reports Full Year 2023 Financial Results and Provides Corporate Update - Seite 2

Key 2023 Financial Data

CHF’ thousands	2023	2022	Change
Income	1,647	1,445	202
R&D expenses	(6,962)	(14,665)	7,703
G&A expenses	(4,966)	(7,300)	2,334
Total operating loss	(10,281)	(20,520)	10,239
Finance result, net	(275)	(284)	9
Net loss for the period	(10,556)	(20,804)	10,248
Basic and diluted net loss per share	(0.14)	(0.46)	0.32
Net decrease in cash and cash equivalents	(3,092)	(13,528)	10,436
Cash and cash equivalents	3,865	6,957	(3,092)
Shareholders’ equity	1,145	4,913	(3,768)

Financial Summary:
Income primarily relates to amounts received under our funded research collaboration with Indivior and is recognized as related costs are incurred. In 2023, income increased by CHF 0.2 million to CHF 1.6 million compared to CHF 1.4 million in 2022. R&D expenses decreased by CHF 7.7 million to CHF 7.0 million in 2023 compared to CHF 14.7 million in 2022, primarily due to decreased dipraglurant related external research and development activities. G&A expenses decreased by CHF 2.3 million to CHF 5.0 million in 2023 compared to CHF 7.3 million in 2022, primarily due to decreased share-based service costs and D&O insurance costs. Our net loss decreased by CHF 10.2 million to CHF 10.6 million in 2023 compared to CHF 20.8 million in 2022, primarily due to reduced R&D expenses. Basic and diluted loss per share decreased to CHF 0.14 in 2023 compared to CHF 0.46 in 2022. Cash and cash equivalents decreased to CHF 3.9 million in 2023, compared to CHF 7.0 million in 2022. The decrease of CHF 3.1 million is primarily due to the cash used in our operating activities, partially offset by the proceeds from financing activities mainly related to the USD 5 million equity offering executed on April 3, 2023 and to a lesser extent research funding from Indivior.