| Valuation method | Value, £ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | n/a | n/a |
| Intrinsic value (DCF) | n/a | |
| Graham-Dodd Method | 0.40 | 684 |
| Graham Formula | n/a |
Addex Therapeutics Ltd is a Swiss-based development-stage biopharmaceutical company specializing in the discovery and development of small-molecule allosteric modulators targeting G-protein coupled receptors (GPCRs) for central nervous system (CNS) disorders. Headquartered in Geneva, the company focuses on innovative treatments for conditions such as Parkinson's disease levodopa-induced dyskinesia, epilepsy, and addiction. Its lead candidates include Dipraglurant, ADX71149, and GABAB PAM, developed through collaborations with industry leaders like Janssen Pharmaceuticals and Indivior PLC. Operating in the high-growth biotechnology sector, Addex leverages its proprietary allosteric modulation platform to address unmet medical needs in CNS disorders. Despite its small market cap, the company's strategic partnerships and niche focus position it as a potential disruptor in neurology-focused therapeutics.
Addex Therapeutics presents a high-risk, high-reward investment opportunity due to its focus on early-stage CNS therapies and reliance on clinical trial success. The company's negative operating cash flow (-5.37M CHF) and development-stage status underscore its speculative nature, though its collaborations with Janssen and Indivior mitigate some risk. With a market cap of just 1.71M CHF and high beta (2.022), the stock is highly volatile and sensitive to clinical milestones. Investors should monitor progress in Dipraglurant's development for Parkinson's dyskinesia—a market with significant unmet need—and funding runway given its current cash position (3.34M CHF). The absence of revenue-generating products makes this suitable only for risk-tolerant investors with a long-term biotech focus.
Addex Therapeutics competes in the niche but growing market of GPCR-targeted CNS therapies, differentiating itself through its allosteric modulation platform. Unlike many biotechs focusing on monoclonal antibodies or gene therapies, Addex's small-molecule approach offers potential oral administration advantages for chronic CNS conditions. However, its late-stage pipeline is limited compared to larger peers, with Dipraglurant being its most advanced candidate (Phase II). The company's strategic partnerships provide validation but also create dependency—its epilepsy program ADX71149 is partnered with Janssen, limiting upside. Financially, Addex's micro-cap status and lack of commercial products put it at a disadvantage against well-capitalized competitors. Its key competitive edge lies in specialized GPCR expertise, but this requires sustained R&D investment amid cash burn. The CNS drug development space is notoriously high-risk (high clinical failure rates), making Addex's focused pipeline both a strength (efficiency) and vulnerability (lack of diversification).