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Addex Therapeutics
(NASDAQ:ADXN)
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Rating:46Neutral
Price Target:
$3.50
▼(-9.09% Downside)
Action:Reiterated
Date:08/22/26
ADXN scores low primarily due to weak financial performance (persistent losses and ongoing negative free cash flow) and a clear bearish technical trend (price below all major moving averages with negative MACD). The earnings call shows strong scientific/pipeline momentum and potential collaboration upside, but this is outweighed by tight cash/liquidity and explicit financing dependence to advance unpartnered programs. Valuation offers limited support because the negative P/E reflects current losses and no dividend yield is available.
Positive Factors
Differentiated Preclinical Pipeline
Repeated efficacy across guinea pig, primate and IPF models, alongside no tolerance and a >60-fold safety margin, supports a differentiated asset. If translated clinically, this profile could improve partnering appeal and create durable value beyond a single early-stage experiment.
Negative Factors
Funding Dependence
Cash fell to roughly CHF 0.9M after CHF 0.766M of operating use in Q1, and management says current resources cannot fund unpartnered programs. Dependence on new financing or partners can delay development, weaken negotiating leverage, and create recurring funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Differentiated Preclinical Pipeline
Repeated efficacy across guinea pig, primate and IPF models, alongside no tolerance and a >60-fold safety margin, supports a differentiated asset. If translated clinically, this profile could improve partnering appeal and create durable value beyond a single early-stage experiment.
Read all positive factors
Addex Therapeutics (ADXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.05M
Dividend YieldN/A
Average Volume (3M)277.82K
Price to Earnings (P/E)―
Beta (1Y)0.81
Revenue Growth-50.79%
EPS Growth-180.59%
CountryUS
Employees3
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-6.97
Shares Outstanding1,822,121
10 Day Avg. Volume80,377
30 Day Avg. Volume277,819
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.20
Price to Sales (P/S)191.02
P/FCF Ratio-2.76
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-5.98
Revenue Forecast (FY)$1.79M
Addex Therapeutics Business Overview & Revenue Model
Company Description
Addex Therapeutics Ltd, a biopharmaceutical firm in a developmental phase, operates out of Switzerland, focusing on the discovery, advancement, and commercialization of small-molecule drugs targeting central nervous system (CNS) disorders. Their c...
How the Company Makes Money
Addex Therapeutics primarily makes money through partnering and collaboration arrangements rather than commercial product sales (as a clinical-stage company). Its revenue model typically consists of: (1) upfront payments received when entering lic...
Addex Therapeutics Earnings Call Summary
Earnings Call Date:Jun 25, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Neutral
The call presents meaningful scientific and preclinical progress — notably strong antitussive data for the GABAB PAM (Compound A), clear rationale and readiness for dipraglurant in post-stroke/TBI recovery, a value-creating Neurosterix spinout nearing Phase 1 readout, and a partnered program with material milestone upside via Indivior. However, these operational and pipeline positives are tempered by a constrained cash position, increasing reported losses driven by the equity-method share of Neurosterix, and the explicit need for additional financing or partnering to start IND-enabling studies and advance unpartnered programs. Overall, the company shows strong R&D momentum but meaningful near-term financing risk.Positive Updates
GABAB PAM (Compound A) — Strong Preclinical Antitussive Efficacy
Compound A demonstrated robust, reproducible antitussive activity across species: up to ~70% reduction in cough number at maximum dose in guinea pigs, 40–60% reductions in an IPF-exacerbated chronic cough guinea pig model after 28 days of dosing, and >60% reduction in coughs in a nonhuman primate citric-acid model at 2 mg/kg. Minimal effective dose ~1 mg/kg (ED50 ~6 mg/kg), no tolerance after 7 days, and >60-fold safety margin versus respiratory-depression/sedation biomarkers.
Negative Updates
Limited Cash Position and Near-Term Financing Need
Q1 ended with ~CHF 900k (also reported CHF 935k in cash-flow discussion) versus CHF 1.6M at end of FY25 — a decrease of ~CHF 800k. Management indicated current cash (plus a small CHF 300k raise in Q2) provides runway into Q4 2026 on a going-concern basis but is insufficient to fund IND-enabling studies and clinical progression of unpartnered programs without additional financing or partnering.
Read all updates
Q1-2026 Updates
Positive
Negative
GABAB PAM (Compound A) — Strong Preclinical Antitussive Efficacy
Compound A demonstrated robust, reproducible antitussive activity across species: up to ~70% reduction in cough number at maximum dose in guinea pigs, 40–60% reductions in an IPF-exacerbated chronic cough guinea pig model after 28 days of dosing, and >60% reduction in coughs in a nonhuman primate citric-acid model at 2 mg/kg. Minimal effective dose ~1 mg/kg (ED50 ~6 mg/kg), no tolerance after 7 days, and >60-fold safety margin versus respiratory-depression/sedation biomarkers.
Read all positive updates
Company Guidance
Management guided that Addex entered Q1 with CHF 1.6M, closed the quarter with roughly CHF 0.9–0.935M (and raised an additional CHF 0.3M in Q2), used CHF 0.766M for operations in Q1, and expects cash runway into Q4 2026 on a going‑concern basis but noted current cash does not fund moving unpartnered programs into the clinic. Key P&L and balance‑sheet metrics: operating loss CHF 0.5M in Q1 26 (vs CHF 0.6M a year earlier), net loss CHF 1.7M (vs CHF 1.5M), and Addex’s share of Neurosterix losses CHF 1.3M (vs CHF 0.8M); current assets ~CHF 25k, noncurrent assets CHF 3.5M (primarily the 20% Neurosterix equity), current liabilities CHF 1.2M and noncurrent liabilities CHF 0.3M. Program guidance and milestones included readiness to start IND‑enabling studies for the GABAB PAM cough program subject to financing (preclinical MED ~1 mg/kg, ED50 ~6 mg/kg, >60‑fold safety margin, 70% cough reduction in guinea pigs, >60% reduction in NHP at 2 mg/kg, 40–60% reductions in an IPF model), plans for an imaging study and clinical development of dipraglurant for post‑stroke/TBI recovery, Neurosterix Phase‑1 NTX‑53 data expected in Q3, and potential partner/clinical milestones of up to ~$313M plus tiered royalties under the Indivior collaboration.Addex Therapeutics Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
63
Positive
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 29.97K | 404.10K | 1.61M | 1.42M | 2.92M |
| Gross Profit | 29.97K | 404.10K | 1.61M | 1.42M | 2.92M |
| EBITDA | -6.83M | -4.65M | -2.19M | -10.45M | -14.94M |
| Net Income | -6.73M | 7.06M | -10.56M | -20.80M | -15.35M |
Balance Sheet | |||||
| Total Assets | 6.37M | 10.68M | 4.64M | 8.28M | 22.54M |
| Cash, Cash Equivalents and Short-Term Investments | 1.64M | 3.35M | 3.87M | 6.96M | 20.50M |
| Total Debt | 34.73K | 41.99K | 344.34K | 373.13K | 482.01K |
| Total Liabilities | 1.60M | 1.00M | 3.50M | 3.37M | 5.61M |
| Stockholders Equity | 4.77M | 9.68M | 1.15M | 4.91M | 16.93M |
Cash Flow | |||||
| Free Cash Flow | -2.08M | -5.37M | -8.00M | -16.44M | -14.74M |
| Operating Cash Flow | -2.08M | -5.37M | -7.99M | -16.44M | -14.71M |
| Investing Cash Flow | -650.08K | 4.65M | -6.84K | 2.97K | -30.31K |
| Financing Cash Flow | 1.13M | 104.92K | 5.26M | 3.10M | 16.40M |
Addex Therapeutics Technical Analysis
Negative
3.85
Price Trends
5.32
Negative
5.99
Negative
6.73
Negative
Market Momentum
-0.55
Positive
33.46
Neutral
18.28
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ADXN, the sentiment is Negative. The current price of 3.85 is below the 20-day moving average (MA) of 4.63, below the 50-day MA of 5.32, and below the 200-day MA of 6.73, indicating a bearish trend. The MACD of -0.55 indicates Positive momentum. The RSI at 33.46 is Neutral, neither overbought nor oversold. The STOCH value of 18.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ADXN.
Addex Therapeutics Risk Analysis
Addex Therapeutics disclosed 54 risk factors in its most recent earnings report. Addex Therapeutics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Addex Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $11.28M | -1.02 | -63.39% | ― | ― | 19.38% | |
49 Neutral | $6.03M | -0.35 | -41.95% | ― | ― | 99.50% | |
48 Neutral | $10.94M | -3.92 | -40.62% | ― | 33.30% | 40.59% | |
46 Neutral | $4.05M | -0.50 | -131.35% | ― | -50.79% | -180.59% | |
44 Neutral | $5.40M | -0.05 | -142.16% | ― | 707.02% | 70.52% |
* Healthcare Sector Average
ADXN
Addex Therapeutics
3.65
-4.10
-52.90%
KPRX
Kiora Pharmaceuticals
2.55
-0.14
-5.20%
XBIO
Xenetic Biosciences
4.67
1.62
53.11%
NCNA
Nucana
1.40
-1.49
-51.56%
CELZ
Creative Medical Technology Holdings
1.11
-2.19
-66.36%
HCWB
HCW Biologics
2.94
-19.92
-87.14%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.