Addex Therapeutics Announces Q1 2024 Financial Outcomes and Progress in GABAB PAM Drug Candidate Development

Addex Therapeutics Ltd ADXN, a pioneering biopharmaceutical company specializing in the development of small molecule pharmaceuticals for central nervous system (CNS) disorders, revealed its Q1 2024 earnings as well as a corporate update. The report came against the backdrop of ongoing collaborations and proprietary advancements, most notably the partnership with Indivior PLC INDV, which is pursuing advancements in the utilization of buprenorphine-based medications for opioid addiction and associated conditions.

Financial Highlights and Corporate Developments

The first quarter of 2024 marked a period of solid financial management and strategic positioning for Addex Therapeutics. Despite the everyday challenges of the pharmaceutical development landscape, the company maintained its focus on leveraging its platform and expertise to advance candidates towards clinical validation.

Local Advancements in CNS Therapeutics

At the heart of its portfolio, Addex Therapeutics' work on the GABAB positive allosteric modulator (PAM) continues to garner attention. In collaboration with Indivior PLC, there is an anticipated milestone approaching—the selection of drug candidates under the partnership's purview, which is expected by the end of Q2 2024. This update underscores the pivotal phase of the collaboration as it moves closer to identifying promising therapeutic agents that can make a tangible difference in the lives of patients struggling with CNS disorders.

About Indivior PLC and Addex Therapeutics

Indivior PLC INDV is a Virginia-headquartered manufacturer focused on the creation of prescription drugs for the treatment of opioid dependency and concurrent disorders, reflecting its commitment to addressing a significant and growing need in society. Conversely, Geneva-based Addex Therapeutics ADXN continues to sharpen its edge in the CNS sector, signifying its aim to discover and develop novel small molecule pharmaceuticals aimed at addressing intricate brain disorders.

Together, these two entities INDV and ADXN represent a vital collaboration within the biopharma space, dedicated to innovation and the advancement of new treatments that could revolutionize how CNS disorders are treated.

earnings, collaboration, development