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(RTTNews) - Addex Therapeutics Ltd. (ADXN, ADXN.SW) on Monday reported a wider net loss for the first half, while operating loss narrowed from last year on lower research and development expenses.
Looking ahead, the Swiss biopharmaceutical company said it will continue advancing its GABAB PAM chronic cough program through preclinical development, while Neurosterix is on track to complete the Phase 1 study of NTX-253 in the fourth quarter of 2026. In the first half, the company reported a net loss of CHF 3.46 million or 0.03 per share, compared with a net loss of CHF 3.31 million or 0.03 per share in the comparable period.
Operating loss, however, narrowed to CHF 1.13 million from CHF 1.34 million in the prior-year period.
Research and development expenses declined to CHF 0.074 million from CHF 0.391 million, mainly due to lower outsourced GABAB PAM research costs.
Income was CHF 0.018 million, down from CHF 0.107 million a year earlier, primarily related to the fair value of services received from Neurosterix's Group at no cost. Following the period-end, the company raised approximately CHF 2.3 million through the issuance of new shares, providing additional funding for its operations and development activities. In the pre-market activity on the Nasdaq, the shares were gaining 1.67%, at $3.66.
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