ADXN · Addex Therapeutics Ltd

Addex Therapeutics reported its full year 2025 financial results, highlighting a net loss of CHF 6.7 million compared to a net profit of CHF 7.1 million in 2024, primarily due to the absence of the one-time consideration from the Neurosterix transaction in 2024. Income from continuing operations decreased to CHF 0.2 million from CHF 0.4 million, reflecting the completion of the research phase of the Indivior collaboration. R&D expenses declined to CHF 0.7 million from CHF 0.9 million, driven by lower outsourced costs for the GABAB PAM program. G&A expenses remained stable at CHF 2.3 million. The company's cash position stood at CHF 1.6 million at year-end, down from CHF 3.3 million, with cash used in operations and investing partially offset by CHF 1.3 million from the sale of treasury shares. Operationally, Addex advanced its GABAB PAM chronic cough candidate, regained rights to the phase 2 mGlu2 PAM asset ADX71149, and entered an option agreement with Sinntaxis for mGlu5 NAM IP in brain injury recovery. Partner Indivior progressed its GABAB PAM program through IND-enabling studies. The company also invested in Stalicla SA. Management emphasized disciplined execution and focused delivery throughout the year.