Addex Therapeutics Ltd is a clinical-stage biopharmaceutical company based in Switzerland that focuses on the discovery and development of small-molecule drugs for neurological disorders. The company specializes in allosteric modulators, which are orally available compounds designed to fine-tune receptor activity in the brain. Its business model relies on advancing proprietary drug candidates and partnering with larger pharmaceutical companies for clinical development.
Addex does not operate a share repurchase program and has never paid a dividend. As a pre-revenue, cash-constrained clinical-stage biotech, it funds operations through equity (a sale-agency/ATM arrangement with Kepler Cheuvreux and private placements of treasury shares on the SIX and Nasdaq) and through asset divestments rather than returning capital to shareholders. FY2025 net cash from financing was only about CHF 1.2 million, and the company held roughly CHF 1.6 million of cash at December 31, 2025. Treasury shares (about 66.75 million, held indirectly through subsidiary Addex Pharma SA) exist to support equity plans and financings, not a buyback. Any future capital raising is expected to be dilutive to existing shareholders.
Not applicable. Addex Therapeutics is a pre-revenue, clinical-stage pharmaceutical company with no approved products and no product revenue, and therefore no customers or customer concentration. Historical operating income has consisted of license fees and funded-research payments (principally under its GABAB PAM license agreement with Indivior) plus grants (for example from The Michael J. Fox Foundation and Eurostars/Innosuisse); the company had recognized roughly CHF 66.8 million of such revenue since inception as of June 30, 2025.