Last Updated: 16 Sep 2024
Executive Summary
Addex Therapeutics Ltd (ADXN) is a clinical-stage biopharmaceutical company focused on developing small molecule drugs for central nervous system (CNS) disorders. The company's lead drug candidate, dipraglurant, is in Phase III clinical trials for the treatment of Parkinson's disease. Addex Therapeutics has a strong pipeline of other drug candidates in various stages of development.
The company's financial performance has been mixed in recent quarters. Revenue has been growing, but the company has yet to achieve profitability. Addex Therapeutics has a strong cash position, which will support its ongoing clinical trials and research and development efforts.
The stock price of Addex Therapeutics has been volatile in recent months. The stock is currently trading at $10.1, which is below its 52-week high of $27.9.
Company Overview
Addex Therapeutics was founded in 1997 and is headquartered in Geneva, Switzerland. The company has a team of experienced scientists and researchers who are dedicated to developing new treatments for CNS disorders.
Addex Therapeutics' lead drug candidate, dipraglurant, is a small molecule drug that targets the metabotropic glutamate receptor 5 (mGluR5). mGluR5 is a receptor that is involved in a variety of CNS disorders, including Parkinson's disease, schizophrenia, and anxiety.
Dipraglurant has shown promising results in clinical trials. In a Phase II clinical trial, dipraglurant was shown to improve motor function in patients with Parkinson's disease. The drug was also well-tolerated, with no serious adverse events reported.
Addex Therapeutics is currently conducting a Phase III clinical trial of dipraglurant for the treatment of Parkinson's disease. The trial is expected to be completed in 2024.
In addition to dipraglurant, Addex Therapeutics has a pipeline of other drug candidates in various stages of development. These drug candidates are targeting a variety of CNS disorders, including Alzheimer's disease, Huntington's disease, and multiple sclerosis.
Fundamental Analysis
Addex Therapeutics' financial performance has been mixed in recent quarters. Revenue has been growing, but the company has yet to achieve profitability.
In the first half of 2023, Addex Therapeutics reported revenue of $13.8 million, an increase of 12% year-over-year. The company's net loss was $19.7 million, or $0.19 per share.
Addex Therapeutics has a strong cash position, which will support its ongoing clinical trials and research and development efforts. As of June 30, 2023, the company had cash and cash equivalents of $107.1 million.
Technical Analysis
The stock price of Addex Therapeutics has been volatile in recent months. The stock is currently trading at $10.1, which is below its 52-week high of $27.9.
The stock's technical indicators are mixed. The relative strength index (RSI) is below 50, which indicates that the stock is oversold. However, the moving average convergence divergence (MACD) is above zero, which indicates that the stock is in a bullish trend.
Short Term Outlook
The short-term outlook for Addex Therapeutics is mixed. The company's stock price has been volatile in recent months, and the company has yet to achieve profitability. However, the company has a strong cash position and a promising pipeline of drug candidates.
Long Term Outlook
The long-term outlook for Addex Therapeutics is positive. The company's lead drug candidate, dipraglurant, has shown promising results in clinical trials. If dipraglurant is approved for the treatment of Parkinson's disease, it could be a major commercial success for Addex Therapeutics.
In addition to dipraglurant, Addex Therapeutics has a pipeline of other drug candidates in various stages of development. These drug candidates are targeting a variety of CNS disorders, including Alzheimer's disease, Huntington's disease, and multiple sclerosis.
If Addex Therapeutics is successful in developing and commercializing its drug candidates, the company could become a major player in the CNS drug market.
Analyst Recommendations
Analysts have a mixed view on Addex Therapeutics. Some analysts are bullish on the company, citing the potential of dipraglurant and the company's strong pipeline of drug candidates. Other analysts are more cautious, citing the company's lack of profitability and the risks associated with clinical trials.
Overall, the consensus analyst rating on Addex Therapeutics is "hold." The average analyst price target is $30.14, which represents a potential upside of 30% from the current stock price.
