Addex Reports Q1 2020 Financial Results and Provides Corporate Update - Seite 2

Income increased by CHF 0.3 million to CHF 1.0 million in Q1 2020 compared to CHF 0.7 million in Q1 2019, primarily due to funding from Indivior under our GABA_B PAM parrtnership. Research and development expenses increased by CHF 1.1 million to CHF 3.6 million in Q1 2020 compared to CHF 2.5 million in Q1 2019, mainly due to an increase in outsourced development costs related to our dipraglurant PD-LID program. G&A expenses increased by CHF 0.3 million to CHF 1.7 million in Q1 2020, compared to CHF 1.3 million in Q1 2019, primarily due to the net impact of higher operating costs related to the listing of ADSs on the Nasdaq Stock Market and decreased share-based compensation costs. The net loss for Q1 2020 was CHF 4.3 million compared to CHF 3.0 million for Q1 2019. Basic and diluted loss per share increased to CHF 0.16 for Q1 2020, compared to CHF 0.12 for Q1 2019. Cash and cash equivalents amounted to CHF 27.1 million at March 31, 2020 compared to CHF 38.9 million at March 31, 2019 and CHF 31.5 million at December 31, 2019. The decrease is primarily due to the cash used in operating activities. The first quarter 2020 financial report can be found on the Company’s website in the investor/download section here.

About Addex Therapeutics:

Addex Therapeutics is a clinical-stage pharmaceutical company focused on the development and commercialization of an emerging class of novel orally available small molecule drugs known as allosteric modulators for neurological disorders. Allosteric modulators offer several potential advantages over conventional non-allosteric molecules and may offer an improved therapeutic approach to conventional "orthosteric" small molecule or biological drugs. Addex's allosteric modulator drug discovery platform targets receptors and other proteins that are recognized as essential for therapeutic intervention. Addex's lead drug candidate, dipraglurant (mGlu5 negative allosteric modulator or NAM), is scheduled to enter a pivotal registration clinical trial for Parkinson’s disease levodopa induced dyskinesia (PD-LID). In parallel, dipraglurant's therapeutic use in dystonia is being investigated in preclinical models. Addex's second clinical program, ADX71149 (mGlu2 positive allosteric modulator or PAM) is being developed in collaboration with Janssen Pharmaceuticals, Inc for the treatment of epilepsy. In addition, Addex’s GABA_B PAM program has been licensed to Indivior PLC for the treatment of addiction. Preclinical programs include GABA_B PAM for CMT1A, mGlu7 NAM for PTSD, mGlu2 NAM for mild neurocognitive disorders, mGlu4 PAM for Parkinson’s disease and mGlu3 PAM for neurodegenerative disorders.