Addex Provisional 2024 Third Quarter Results Showed Net Loss Compared to Second Quarter 2024
Addex Therapeutics Ltd - American Depositary Shares (ADXN)
Company Research
Source: GlobeNewswire
Nine-month Results Remain On Track for Net Profit Ad Hoc Announcement Pursuant to Art. 53 LR Geneva, Switzerland, November 11, 2024 - Addex Therapeutics (SIX/NASDAQ: ADXN), a clinical-stage biopharmaceutical company focused on developing a portfolio of novel small molecule allosteric modulators for neurological disorders, announced today that its provisional third quarter net results decreased significantly compared to the second quarter 2024. The provisional result for the third quarter of 2024 show a net loss of CHF 1.5 million compared to a net profit of CHF 12.9 million for the second quarter of 2024. The decrease of CHF 14.4 million is primarily due to the sale of part of the Addex business to Neurosterix during the second quarter of 2024, which generated a non-recurring net gain of CHF 14.0 million. Addex expects to generate quarterly losses in future. The provisional result for the nine-month period ended September 30, 2024, remains positive and amounts to a net profit of
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