Addex Therapeutics Faces Setback as Partner Halts ADX71149 Development in Epilepsy

Addex Therapeutics Ltd ADXN, a biopharmaceutical company specializing in the development of small molecule pharmaceuticals for the treatment of central nervous system (CNS) disorders, has announced a significant update regarding one of its pipeline products. In an ad hoc announcement issued in accordance with Art. 53 LR, the company disclosed that its partner has decided to discontinue the development of ADX71149 for epilepsy treatment.

Impact on Addex's Drug Development Program

The discontinuation represents a stumbling block for Addex Therapeutics, impacting its portfolio of CNS disorder treatments. ADX71149 was being developed in collaboration with the unnamed partner, and the cessation of its development for epilepsy has prompted a reassessment of the therapeutic’s future. Despite the setback, ADXN reaffirms its commitment to exploring other potential indications for ADX71149 and furthering its overall drug development initiatives.

Market Response to the Announcement

Following the disclosure, shares of Addex Therapeutics (ticker: ADXN may face investor scrutiny as market participants digest the implications of the discontinuation. Stakeholders and potential investors are keenly observing how the company will navigate this challenge and strategize its next steps in the development of its CNS drug portfolio.

About Addex Therapeutics

With its headquarters in Geneva, Switzerland, Addex Therapeutics Ltd is at the forefront of developing therapeutic solutions for CNS disorders. The company is in the developing stage but is actively engaged in the discovery, development, and marketing of a range of small molecule pharmaceuticals, striving to address unmet medical needs within the CNS domain.

Addex, ADXN, Therapeutics, Epilepsy, Pharmaceuticals, CNS, Development, Discontinuation