Press Release: Addex Therapeutics Reports 2025 Half Year and Second Quarter Financial Results and Provides Corporate Update

Addex Therapeutics

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-- Cash position of CHF 2.3 million at end of H1 2025

-- GABAB PAM chronic cough candidate demonstrated robust anti-tussive

activity in disease models

-- Regained rights to phase 2 mGlu2 PAM asset, ADX71149

-- Indivior advanced GABAB PAM substance use disorders program successfully

through IND enabling studies

-- Entered option agreement with Sinntaxis for exclusive license to

intellectual property covering the use of mGlu5 NAM in brain injury

recovery

-- Invested in Stalicla SA, confirming commitment to advancing innovative

treatments for CNS disorders

Ad Hoc Announcement Pursuant to Art. 53 LR

Geneva, Switzerland, September 30, 2025 - Addex Therapeutics https://www.globenewswire.com/Tracker?data=x6zJ1sp39Nwk8FQrCY8-TabzuoQmG05MhlMjSQjU8YNrnGv_1k38Jem3Uds0PyJOZ5PR_NclYzXpLczaVW1XlpZVooXnnXMebY3cjpA9GEYwZVi0ur1monmjxHp6KCin (SIX and Nasdaq: ADXN), a clinical-stage biopharmaceutical company focused on developing a portfolio of novel small molecule allosteric modulators for neurological disorders, today reported its half-year and second quarter financial results for the periods ended June 30, 2025, and provided a corporate update.

"We have seen great progress in the first six months of 2025, both in terms of drug candidate development and achieving business milestones. In particular, progress continues well and on track with our GABAB PAM drug candidate in chronic cough. We also presented positive data from the cough program, achieved in multiple preclinical models, at the prestigious American Cough conference. We also regained rights to our Phase 2 mGlu2 PAM asset, ADX71149, for which we are evaluating next steps for the program internally," said Tim Dyer, CEO of Addex. "Solidifying our position to use mGlu5 NAMs in brain injury, we entered an option agreement with Sinntaxis to gain access to additional intellectual property in the field. Our plan is to explore further the clinical activity of dipraglurant in this indication. Our partner, Indivior, has advanced its GABAB PAM clinical candidate through IND enabling studies, providing additional validation of our allosteric modulation approach. We also led a financing in Stalicla, a Swiss company pioneering a precision medicine approach for neurodevelopmental and neuropsychiatric disorders. Following the spin-out of Neurosterix last year, this investment continues to underscore our commitment to advancing innovative treatments for CNS disorders."

Operating Highlights:

-- GABAB PAM chronic cough candidate demonstrated robust anti-tussive

activity in multiple models of disease

-- Regained rights to phase 2 mGlu2 PAM asset, ADX71149

-- Indivior advanced its GABAB PAM program for substance use disorders

successfully through IND enabling studies

-- Entered option agreement with Sinntaxis for exclusive license to

intellectual property covering use of mGlu5 NAM in brain injury recovery

-- Invested in Stalicla, continuing strategic commitment to advancing

innovative treatments for CNS

Key H1 2025 Financial Data

CHF' thousands Q2 25 Q2 24 Change H1 25 H1 24 Change

------- ------- -------- ------- ------- --------

Income 36 115 (79) 107 350 (243)

R&D expenses (234) (339) 105 (391) (584) 193

G&A expenses (535) (675) 140 (1,056) (1,453) 397

Total operating loss (733) (899) 166 (1,340) (1,687) 347

Finance result, net 6 (27) 33 (13) 26 (39)

Share of net loss of associates (1,232) (531) (701) (2,079) (531) (1,548)

Net loss from continuing

operations (1,959) (1,457) (502) (3,432) (2,192) (1,240)

Net profit from discontinued

operations 118 14,335 (14,217) 118 11,983 (11,865)

Net profit or (loss) for the

period (1,841) 12,878 (14,719) (3,314) 9,791 (13,105)

Basic and diluted net loss per

share:

From continuing operations (0.02) (0.01) (0.01) (0.03) (0.02) (0.01)

From discontinued operations 0.00 0.14 (0.14) 0.00 0.12 (0.12)

Total basic and diluted net

loss per share (0.02) 0.13 (0.15) (0.03) 0.10 (0.13)

Net increase / (decrease) in

cash during the period (524) 2,160 (2,684) (1,041) (77) (964)

Cash and cash equivalents as

of June 30 2,301 3,788 (1,487) 2,301 3,788 (1,487)

Shareholders' equity 7,213 12,651 (5,438) 7,213 12,651 (5,438)

Financial Summary:

Income decreased by CHF 0.2 million during the six-month period ended June 30, 2025 compared to the same period ended June 30, 2024, primarily due to the completion of the R&D collaboration phase of our agreement with Indivior.

R&D expenses decreased by CHF 0.2 million during the six-month period ended June 30, 2025 compared to the same period ended June 30, 2024, primarily due to lower GABAB PAM outsourced R&D expenses related to our R&D collaboration agreement with Indivior.

G&A expenses decreased by CHF 0.4 million during the six-month period ended June 30, 2025 compared to the same period ended June 30, 2024, primarily due to reduced legal fees.

The net result decreased by CHF 13.1 million during the six-month period ended June 30, 2025 compared to the same period ended June 30, 2024, primarily due to gross proceeds of CHF 14.0 million from the sale of a part of our business executed on April 2, 2024 and recognized as discontinued operations. During the same period ended June 30, 2025, the net loss from continuing operations increased by CHF 1.2 million primarily due to an increased share of loss from the investment in Neurosterix US Holdings accounted for using the equity method since April 2, 2024.

Basic and diluted loss per share amounted to CHF 0.03 per share for the six-month period ended June 30, 2025 compared to a basic and diluted profit per share of CHF 0.10 for the same period ended June 30, 2024.

Cash and cash equivalents decreased to CHF 2.3 million at June 30, 2025, compared to CHF 3.8 million at June 30, 2024. The decrease of CHF 1.5 million between June 30, 2025 and June 31, 2024 is primarily due to operating activities.

Half-Year 2025 Consolidated Financial Statements:

The Half-Year 2025 financial report can be found on the Company's website in the investor/download section her https://www.globenewswire.com/Tracker?data=9Vk3Y1Q7eXhHjguVgXI13Nbqa0r9U-lbIpjzRi8XYrB3l4hpfMFcn2Z_rHf-KNZoTPcTS29QQcGxYo40uRg_3poNsf2-jyD_OoUUGRmaLC_WlURPfqL5Mh7GGsk7kIL-EfEBIzUKaM7ALCng_OBbJQ== e.

Conference Call Details:

A conference call will be held tomorrow on October 1, 2025, at 16:00 CEST (15:00 BST / 10:00 EDT / 07:00 PDT) to review the financial results. Tim Dyer, Chief Executive Officer and Mikhail Kalinichev, Head of Translational Science will deliver a brief presentation followed by a Q&A session.

Joining the Conference Call:

1. Participants are required to register in advance of the conference using

the link provided below. Upon registering, each participant will be

provided with Participant Dial-in numbers, and a unique Personal PIN.

2. In the 10 minutes prior to the call's start time, participants will need

to use the conference access information provided in the e-mail received

at the point of registering. Participants may also use the call me

feature instead of dialing the nearest dial in number.

Webcast registration URL:

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Conference call registration URL:

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About Addex Therapeutics

Addex Therapeutics https://www.globenewswire.com/Tracker?data=x6zJ1sp39Nwk8FQrCY8-TabzuoQmG05MhlMjSQjU8YO9hYC034Nd1L8lZmxpJp_kDyT2rNdiprDm1fp0pNXPLHI0l-qb5JXizC3eDlKm3CjHgsoWRxmQrvskg_uBe-tY is a clinical-stage biopharmaceutical company focused on developing a portfolio of novel small molecule allosteric modulators for neurological disorders. Addex's lead drug candidate, dipraglurant (mGlu5 negative allosteric modulator or NAM), is under evaluation for future development in brain injury recovery, including post-stroke and traumatic brain injury recovery. Addex's partner, Indivior, has selected a GABAB PAM drug candidate for development in substance use disorders and has successfully completed IND enabling studies. Addex is advancing an independent GABAB PAM program for chronic cough. Addex holds a 20% equity interest in a private spin out company, Neurosterix LLC, which is advancing a portfolio of allosteric modulator programs, including M4 PAM for schizophrenia, mGlu7 NAM for mood disorders and mGlu2 NAM for mild neurocognitive disorders. In addition, Addex has invested in Stalicla, a private Swiss company pioneering a precision medicine approach for neurodevelopmental and neuropsychiatric disorders. Addex shares are listed on the SIX Swiss Exchange and American Depositary Shares representing its shares are listed on the NASDAQ Capital Market, and trade under the ticker symbol "ADXN" on each exchange. For more information, visit www.addextherapeutics.com

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