Geneva, Switzerland, August 27, 2019 – Addex Therapeutics (SIX: ADXN), a leading company pioneering allosteric modulation-based drug discovery and development today announced that the independent life science equity research company, Van Leeuwenhoeck, has issued an equity research report highlighting the Addex investment opportunity and a price target of CHF11-12 per share. Analyses in the report notes a significant undervaluation of Addex, which is trading currently at CHF1.60 per share, as well as key value drivers including the start of a pivotal registration study of dipraglurant for levodopa-induced dyskinesia associated with Parkinson’s disease in Q1 2020.
“We believe Addex is fundamentally undervalued and the start of pivotal registration studies in PD-LID as well as positive news flow from its other in-house discovered programs is likely to drive significant share price appreciation in the coming 12 months,” commented Marcel Wijma, Chief Research Analyst at Van Leeuwenhoeck Institute. “Added to this, Addex has a world leading position in allosteric modulation and broad pipeline, which was recently further validated with a €4.85 million Eurostar grant for its post traumatic stress disorder program.”
The full analyst research report is available on www.leeuwenhoeck.com and on Addex website at http://www.addexpharma.com/en/investors/downloads/.
Van Leeuwenhoeck Institute, (“VLI”) is actively engaged in the financial research of life sciences companies in Europe, North America, Australia and emerging markets such as Asia and India. The VLI team conducts fundamental financial research, independently from any specific broker, bank, or investor. A select circle of top analysts assists the firm in conducting fundamental biotech research according to the highest standards. The team’s sector expertise, combined with an active network of well-respected scientists and biotech business analysts, adds value to VLI’s research. VLI provides institutional investors and other professional investors with independent, un-biased research on the real value of innovative Life Sciences companies.
About Addex Therapeutics
Addex Therapeutics is a biopharmaceutical company focused on the development of novel, orally available, small molecule allosteric modulators for neurological disorders. Allosteric modulators are an emerging class of small molecule drugs that have the potential to be more specific and confer significant therapeutic advantages over conventional "orthosteric" small molecule or biological drugs. Addex's allosteric modulator drug discovery platform targets receptors and other proteins that are recognized as essential for therapeutic intervention - the Addex pipeline has been generated from this pioneering allosteric modulator drug discovery platform. Addex's lead drug candidate, dipraglurant (mGlu5 negative allosteric modulator or NAM), has successfully completed a Phase 2a POC in Parkinson's disease levodopa-induced dyskinesia (PD-LID), and is being prepared to enter registration trials for PD-LID. In parallel, dipraglurant's therapeutic use in dystonia is being investigated. Addex's second clinical program, ADX71149 (mGlu2 positive allosteric modulator or PAM) is being developed in collaboration with Janssen Pharmaceuticals, Inc for epilepsy. In addition, Addex’s GABAB PAM program has been licensed to Indivior PLC for the treatment of addiction. Discovery programs include mGlu7 NAM for PTSD, mGlu2 NAM for mild cognitive impairment, mGlu4 PAM for Parkinson’s disease and mGlu3 PAM for neurodegeneration.
Chief Executive Officer
Telephone: +41 22 884 15 55
Partner, Halsin Partners
+44 (0)20 7318 2955
Disclaimer / Forward-looking statements: This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Addex Therapeutics Ltd. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.