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Addex Therapeutics
(ADXN)
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Rating:43Neutral
Price Target:
CHF0.02
Action:Reiterated
Date:10/01/26
The score is held down primarily by weak financial performance (sharp revenue decline, very large losses, and ongoing cash burn) and bearish technicals (price below all key moving averages with negative MACD and very weak RSI/Stoch). A more constructive earnings update (extended runway and multiple pipeline milestones) provides partial support, but not enough to offset the underlying profitability and funding risks.
Positive Factors
Low leverage
Very low leverage reduces fixed financial obligations and near-term solvency pressure while the company funds clinical development. This gives Addex more flexibility to pursue partnerships, milestones, and pipeline decisions without the additional constraint of substantial debt service.
Negative Factors
Deep, persistent unprofitability
Severe and continuing losses show that the current clinical-stage model has not yet produced economically sustainable earnings. Without approved products or dependable collaboration income, ongoing deficits can erode equity and increase reliance on future financing or strategic transactions.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low leverage reduces fixed financial obligations and near-term solvency pressure while the company funds clinical development. This gives Addex more flexibility to pursue partnerships, milestones, and pipeline decisions without the additional constraint of substantial debt service.
Read all positive factors
Addex Therapeutics (ADXN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF2.62M
Dividend YieldN/A
Average Volume (3M)1.60M
Price to Earnings (P/E)―
Beta (1Y)0.51
Revenue Growth-50.34%
EPS Growth4.75%
CountryCH
Employees3
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.05
Shares Outstanding218,654,500
10 Day Avg. Volume924,148
30 Day Avg. Volume1,604,480
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.30
Price to Sales (P/S)35.91
P/FCF Ratio-2.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Addex Therapeutics Business Overview & Revenue Model
Company Description
Addex Therapeutics Ltd, a biopharmaceutical company in its development phase, specializes in the discovery, progression, and commercialization of small-molecule pharmaceutical products designed to address central nervous system (CNS) conditions. B...
How the Company Makes Money
Addex Therapeutics primarily seeks to generate revenue through business-to-business monetization of its drug discovery and development programs rather than through product sales. Its revenue model typically includes: (1) Collaboration and partners...
Addex Therapeutics Earnings Call Summary
Earnings Call Date:Sep 28, 2026
(Q2-2026)
| Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call was predominantly positive, with management highlighting $2.8 million of financing, a cash runway into Q4 2027, regained rights to the GABAB PAM platform, strong preclinical chronic cough data, and continued progress across the Neurosterix and Addex pipelines. Offsetting factors included the CHF 0.8 million half-year cash balance, CHF 1.2 million of operating cash usage, continued net losses, an increase in Addex's share of Neurosterix's loss, and the need to secure financing before starting chronic cough IND-enabling studies.Positive Updates
ATM Financing and Extended Cash Runway
Addex raised $2.8 million through its ATM facility in Q3 2026, strengthening the balance sheet and providing cash runway into Q4 2027.
Negative Updates
Limited Cash Balance at Half-Year
Addex ended H1 2026 with CHF 0.8 million in cash, down CHF 0.8 million from CHF 1.6 million as of December 31, 2026, primarily due to operating costs and partially offset by the sale of treasury ADSs.
Read all updates
Q2-2026 Updates
Positive
Negative
ATM Financing and Extended Cash Runway
Addex raised $2.8 million through its ATM facility in Q3 2026, strengthening the balance sheet and providing cash runway into Q4 2027.
Read all positive updates
Company Guidance
Addex said it has $2.8 million raised through its ATM facility and now has a cash runway through into Q4 of 2027; it expects NTX-253 to complete phase I very soon and expects phase I data from the NTX-253 program in Q4 this year, while NTX-529 IND-enabling studies should start shortly and NTX-819 is expected to complete IND-enabling studies in the coming months. The next milestone for the SUD program is the filing of an IND, and for the cough program, the start of IND-enabling studies, which are planned and ready to start subject to securing financing. Addex is also preparing dipraglurant for phase II in post-stroke recovery, and said it is looking forward to completing the evaluation of potential indications for its mGlu2 PAM program and securing the financial resources to advance its portfolio into clinical studies.Addex Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.19K | 173.00K | 410.04K | 1.61M | 1.42M | 2.92M |
| Gross Profit | 26.03K | 164.39K | -444.26K | -5.32M | -13.20M | -9.67M |
| EBITDA | -3.44M | -2.81M | -4.65M | -10.26M | -20.43M | -14.94M |
| Net Income | -6.87M | -6.73M | 7.06M | -10.56M | -20.80M | -15.41M |
Balance Sheet | ||||||
| Total Assets | 3.48M | 6.36M | 10.67M | 4.64M | 8.28M | 22.54M |
| Cash, Cash Equivalents and Short-Term Investments | 767.33K | 1.64M | 3.34M | 3.87M | 6.96M | 20.50M |
| Total Debt | 77.50K | 34.69K | 41.99K | 344.34K | 373.13K | 482.01K |
| Total Liabilities | 1.57M | 1.60M | 1.00M | 3.50M | 3.37M | 5.61M |
| Stockholders Equity | 1.90M | 4.76M | 9.67M | 1.15M | 4.91M | 16.93M |
Cash Flow | ||||||
| Free Cash Flow | -2.39M | -2.17M | -5.37M | -8.00M | -16.44M | -14.74M |
| Operating Cash Flow | -2.39M | -2.17M | -5.37M | -7.99M | -16.44M | -14.71M |
| Investing Cash Flow | 56.67K | -680.69K | 4.65M | -6.84K | 2.97K | -30.31K |
| Financing Cash Flow | 793.88K | 1.19M | 104.97K | 5.26M | 3.10M | 16.40M |
Addex Therapeutics Technical Analysis
Negative
―
Price Trends
0.03
Negative
0.04
Negative
0.04
Negative
Market Momentum
>-0.01
Negative
21.43
Positive
12.73
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:ADXN, the sentiment is Negative. The current price of undefined is equal to the 20-day moving average (MA) of 0.02, equal to the 50-day MA of 0.03, and equal to the 200-day MA of 0.04, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 21.43 is Positive, neither overbought nor oversold. The STOCH value of 12.73 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH: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% |
* Healthcare Sector Average
Performance Comparison
Addex Therapeutics Corporate Events
Addex Raises Fresh Funds as It Regains GABAB Rights and Advances CNS Pipeline
Sep 28, 2026
Addex Therapeutics reported its 2026 half-year results, highlighting a tighter financial position alongside strategic progress in its neurology-focused pipeline. The company’s cash and cash equivalents fell to CHF 0.8 million from CHF 2.3 mi...
Addex Regains Global Rights to Key GABAB Assets, Expands Neurology Portfolio
Sep 25, 2026
Addex Therapeutics has regained full global rights to all GABAB positive allosteric modulator assets previously under collaboration with Indivior, following Indivior’s strategic refocus and planned merger with Supernus Pharmaceuticals, Inc. ...
Addex to Present Half-Year Results and Pipeline Update
Sep 24, 2026
Addex Therapeutics, a clinical-stage biopharmaceutical group listed on SIX and Nasdaq under the ticker ADXN, focuses on small molecule allosteric modulators for neurological and psychiatric conditions and holds strategic interests in external prog...
Addex Raises USD 2.8 Million, Extends Cash Runway to Late 2027
Aug 26, 2026
Addex Therapeutics, a clinical-stage biopharma focused on small molecule allosteric modulators for neurological diseases, is developing dipraglurant for brain injury recovery and advancing GABAB programs for substance use disorders and chronic cou...
Addex bolsters mGlu7 program with new ADX71743 sleep and stress data
Jul 8, 2026
Addex Therapeutics has reported new preclinical data showing that ADX71743, a selective negative allosteric modulator of metabotropic glutamate receptor 7, significantly affects sleep-wake cycles and stress-related neurochemistry in animal models....
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.