Addex Therapeutics Ltd.
ADXN evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for ADXN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ADXN
Addex Therapeutics Ltd. is a clinical-stage biopharmaceutical company focused on developing drug candidates targeting GABAB receptors, with a lead program in chronic cough and a partnership with Indivior for substance use disorders. The company has no approved products and faces significant capital constraints, with cash runway only through mid-2026.
Key risk: Cash runway risk
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2025.
Tracking 3 clinical trials for Addex Therapeutics Ltd..
Addex Therapeutics Ltd. is a clinical-stage biopharmaceutical company focused on developing drug candidates targeting GABAB receptors, with a lead program in chronic cough and a partnership with Indivior for substance use disorders. The company has no approved products and faces significant capital constraints, with cash runway only through mid-2026.
- Addex Therapeutics is developing a GABAB PAM drug candidate for chronic cough, with ongoing preclinical studies and plans for further clinical trials [sec · filed 2026-05-15].
- The company has a partnership with Indivior for GABAB PAM in substance use disorders [sec · filed 2026-05-15].
- As of 2025-06-30, Addex reported cash & equivalents of $2.3M, net loss of $1.8M, and shareholders' equity of $1.1M [sec].
- The company expects its current cash to fund operations only through mid-2026 and will need additional capital to continue development [sec · filed 2026-05-15].
- None of Addex's drug candidates have been approved for marketing or are in Phase 3 trials [sec · filed 2026-05-15].
What works
- Addex has a partnership with Indivior for its GABAB PAM program in substance use disorders, which may provide milestone and royalty payments [sec · filed 2026-05-15].
- The company has a focused pipeline with a lead candidate in chronic cough, a large unmet medical need, and plans to initiate further clinical trials [sec · filed 2026-05-15].
- Addex has historically funded operations through equity offerings, licensor payments, and asset divestments, demonstrating some ability to raise capital [sec · filed 2024-04-18].
What to weigh
- Addex has no approved products on the market and may never commercialize any drug candidates [sec · filed 2026-05-15].
- The company's cash runway is limited to mid-2026, and it will need substantial additional capital to continue operations and development [sec · filed 2026-05-15].
- Addex has a history of operating losses, and its ability to achieve profitability is uncertain and dependent on successful development and regulatory approval [sec · filed 2026-05-15].
- The company faces risks of dilution from future equity financings needed to raise capital [sec · filed 2026-05-15].
From the filings
Quoted directly from source documents.
Cash runway only through mid-2026
“We believe that our current cash and cash equivalents are sufficient to fund our operating expenses through mid-June 2026.”
SEC filings · May 15, 2026
No approved products or Phase 3 trials
“Currently, none of our drug candidates have been approved for marketing and commercialization or are in Phase 3 trials.”
SEC filings · May 15, 2026
Partnership with Indivior for GABAB PAM
“our partner Indivior for GABAB PAM for the substance use disorders indication.”
SEC filings · May 15, 2026
Expect expenses to increase for chronic cough program
“we expect an increase of our expenses compared to the twelve-month period ended December 31, 2025, as we continue to the development of our GABAB PAM chronic cough drug candidate, initiate further clinical trials and seek marketing approval for our drug candidates.”
SEC filings · May 15, 2026
Risks & what to watch (4)›
Key risks
- Cash runway risk — Cash sufficient only through mid-2026; additional capital needed to continue operations [sec · filed 2026-05-15].
- No approved products — None of Addex's drug candidates are approved or in Phase 3; commercialization uncertain [sec · filed 2026-05-15].
- Dependence on partnerships — Future funding and success rely on partnership milestones and royalties, which are uncertain [sec · filed 2026-05-15].
- Dilution risk — Raising capital through equity offerings may dilute existing shareholders [sec · filed 2026-05-15].
What to watch
- Progress and results of preclinical studies for the GABAB PAM chronic cough drug candidate [sec · filed 2026-05-15].
- Timing and amount of milestone or royalty payments from the Indivior partnership [sec · filed 2026-05-15].
- Ability to secure additional funding through partnerships, grants, or equity offerings before mid-2026 [sec · filed 2026-05-15].
- Initiation of further clinical trials for the chronic cough program [sec · filed 2026-05-15].
Sources: SEC filings · Generated August 27, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
9.4 months
D/E 0.18
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Runway
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
3
Total value held
$3K
| Holder | Shares | Value |
|---|---|---|
| morgan stanley | 301 | $2K |
| gamma investing llc | 81 | $509 |
| rhumbline advisers | 72 | $450 |
Short Interest
as of May 1, 2026- % of float
- 0.7%
- Days to cover
- 1.3
- Shares short
- 7,260
- Daily short volume (Jul 22, 2026)
- 50.0%
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ADXN short interestFrequently asked questions
What is the AI investment thesis for Addex Therapeutics Ltd.?
Addex Therapeutics Ltd. is a clinical-stage biopharmaceutical company focused on developing drug candidates targeting GABAB receptors, with a lead program in chronic cough and a partnership with Indivior for substance use disorders. The company has no approved products and faces significant capital constraints, with cash runway only through mid-2026.
Who is the CEO of Addex Therapeutics Ltd.?
Mr. Timothy Mark Dyer is the chief executive officer of Addex Therapeutics Ltd. (ADXN).
Where is Addex Therapeutics Ltd. headquartered?
Addex Therapeutics Ltd. (ADXN) is headquartered in Geneva, Switzerland.
What therapeutic areas does Addex Therapeutics Ltd. focus on?
Addex Therapeutics Ltd. develops therapies across Neurology, Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.