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Addex Therapeutics
(NASDAQ:ADXN)
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Rating:47Neutral
Price Target:
$2.50
▼(-35.06% Downside)
Action:Reiterated
Date:10/01/26
The score is held down primarily by weak financial performance (limited/declining revenue, persistent losses, and ongoing cash burn) and bearish technicals (price below key moving averages with negative MACD). These are partially offset by a more constructive earnings call driven by pipeline milestones and extended runway, while valuation metrics are limited due to negative earnings and no dividend data.
Positive Factors
Extended cash runway
The $2.8 million financing and stated runway into Q4 2027 provide greater time to advance the pipeline without immediate funding pressure. This supports continued development, milestone generation, and partnership discussions over the next several quarters, although execution remains important.
Negative Factors
Persistent cash burn
Consistently negative operating and free cash flow means Addex is not yet funding research internally. Continued development therefore depends on financing, partnerships, or other external capital, creating dilution and execution risk if funding becomes less available.
Read all positive and negative factors
Positive Factors
Negative Factors
Extended cash runway
The $2.8 million financing and stated runway into Q4 2027 provide greater time to advance the pipeline without immediate funding pressure. This supports continued development, milestone generation, and partnership discussions over the next several quarters, although execution remains important.
Read all positive factors
Addex Therapeutics (ADXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.26M
Dividend YieldN/A
Average Volume (3M)42.32K
Price to Earnings (P/E)―
Beta (1Y)1.06
Revenue Growth-45.76%
EPS Growth-3.77%
CountryUS
Employees3
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-5.61
Shares Outstanding1,822,121
10 Day Avg. Volume19,714
30 Day Avg. Volume42,317
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 Cap1.53
Enterprise Value/Revenue104.43
Enterprise Value/Gross Profit-363.08
Enterprise Value/Ebitda-0.87
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:Sep 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call was predominantly positive, highlighting a $2.8 million financing, cash runway into Q4 2027, regained rights to the GABAB PAM platform, multiple advancing preclinical and clinical programs, and encouraging chronic cough and substance use disorder data. Offsetting factors included the CHF 0.8 million half-year cash balance, CHF 1.2 million of operating cash use, a stable CHF 3.4 million net loss, increased share of Neurosterix losses, and the need to secure financing before advancing certain programs.Positive Updates
Balance Sheet Strengthened and Runway Extended
Addex raised $2.8 million through its ATM facility in Q3, providing a cash runway into Q4 2027.
Negative Updates
Limited Cash Balance at Half-Year End
Addex ended H1 2026 with CHF 0.8 million in cash, compared with CHF 1.6 million as of December 31, 2026, a decrease of CHF 0.8 million primarily due to operating costs, partially offset by the sale of treasury ADSs.
Read all updates
Q2-2026 Updates
Positive
Negative
Balance Sheet Strengthened and Runway Extended
Addex raised $2.8 million through its ATM facility in Q3, providing a cash runway into Q4 2027.
Read all positive updates
Company Guidance
Addex said the GABAB PAM substance use disorder candidate is ready for IND filing and phase I clinical trials, with the next milestone being the filing of an IND, while IND enabling studies for the chronic cough program are “planned and ready to start subject to securing financing”; it expects phase I data from Neurosterix’s NTX-253 program in Q4 this year, NTX-529 IND-enabling studies should start shortly, NTX-819 is expected to complete IND-enabling studies in the coming months, and it continues to prepare dipraglurant for phase II in post-stroke recovery. The company said it raised $2.8 million in Q3 through its ATM facility, providing cash runway into Q4 2027, and that patents filed in 2024, if granted, are expected to expire in 2044.Addex Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
27
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 47.57K | 29.97K | 404.10K | 1.61M | 1.42M | 2.92M |
| Gross Profit | -13.68K | 29.97K | 404.10K | 1.61M | 1.42M | 2.92M |
| EBITDA | -5.72M | -6.83M | -4.65M | -2.19M | -10.45M | -14.94M |
| Net Income | -6.86M | -6.73M | 7.06M | -10.56M | -20.80M | -15.35M |
Balance Sheet | ||||||
| Total Assets | 3.48M | 6.37M | 10.68M | 4.64M | 8.28M | 22.54M |
| Cash, Cash Equivalents and Short-Term Investments | 767.33K | 1.64M | 3.35M | 3.87M | 6.96M | 20.50M |
| Total Debt | 77.50K | 34.73K | 41.99K | 344.34K | 373.13K | 482.01K |
| Total Liabilities | 1.57M | 1.60M | 1.00M | 3.50M | 3.37M | 5.61M |
| Stockholders Equity | 1.91M | 4.77M | 9.68M | 1.15M | 4.91M | 16.93M |
Cash Flow | ||||||
| Free Cash Flow | -2.38M | -2.08M | -5.37M | -8.00M | -16.44M | -14.74M |
| Operating Cash Flow | -2.38M | -2.08M | -5.37M | -7.99M | -16.44M | -14.71M |
| Investing Cash Flow | 51.03K | -650.08K | 4.65M | -6.84K | 2.97K | -30.31K |
| Financing Cash Flow | 800.71K | 1.13M | 104.92K | 5.26M | 3.10M | 16.40M |
Addex Therapeutics Technical Analysis
Negative
3.85
Price Trends
4.30
Negative
5.29
Negative
6.27
Negative
Market Momentum
-0.35
Negative
39.68
Neutral
39.52
Neutral
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 above the 20-day moving average (MA) of 3.32, below the 50-day MA of 4.30, and below the 200-day MA of 6.27, indicating a bearish trend. The MACD of -0.35 indicates Negative momentum. The RSI at 39.68 is Neutral, neither overbought nor oversold. The STOCH value of 39.52 is Neutral, 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% | |
47 Neutral | $3.26M | -0.48 | -172.76% | ― | -45.76% | -3.77% | |
47 Neutral | $11.19M | -1.00 | -63.39% | ― | ― | 19.38% | |
45 Neutral | $5.15M | -1.78 | -40.62% | ― | 33.30% | 40.59% | |
44 Neutral | $4.57M | -0.28 | -41.95% | ― | ― | 99.50% | |
42 Neutral | $3.67M | -0.03 | -142.16% | ― | 707.02% | 70.52% |
* Healthcare Sector Average
ADXN
Addex Therapeutics
3.18
-5.50
-63.36%
KPRX
Kiora Pharmaceuticals
2.50
-0.23
-8.42%
XBIO
Xenetic Biosciences
2.12
-2.17
-50.58%
NCNA
Nucana
1.09
-5.93
-84.47%
CELZ
Creative Medical Technology Holdings
0.90
-2.51
-73.61%
HCWB
HCW Biologics
1.57
-22.61
-93.51%
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.