Financial Summary:
Income remained stable in the first quarter 2021 compared to the first quarter 2020 and related primarily to amounts received under our funded research collaboration with Indivior.
R&D expenses decreased by CHF 0.8 million to CHF 2.7 million in the first quarter 2021 compared to CHF 3.6 million in the first quarter 2020, primarily due to the postponement of the start of our dipraglurant phase 2b/3 PD dyskinesia clinical trial. Research and development expenses consist primarily of costs associated with research, preclinical and clinical testing, and related staff costs. They also include depreciation of laboratory equipment, costs of materials used in research, costs associated with renting and operating facilities and equipment, as well as fees paid to consultants, patent costs and other outside service fees and overhead costs. These expenses include costs for proprietary and third-party R&D.
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Addex Reports Full Year 2020 Financial Results and Provides Corporate Update
Addex TherapeuticsMarch 11, 2021 GMT
Strong cash and cash equivalents position at Dec 31, 2020 of $20.2M (CHF18.7M)
Balance sheet further strengthened by $11.5M fundraising on January 11, 2021
Three clinical studies in neurology programs expected to start during H1 2021
Clinical stage neurology programs aimed at large underserved market opportunities (Epilepsy, Parkinson’s disease LID and Blepharospasm)
Geneva, Switzerland, March 11, 2021 – Addex Therapeutics (SIX: ADXN and Nasdaq: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, today reported financial results for the full-year ended December 31, 2020 and provided a corporate update.