ADXN Nasdaq· Addex Therapeutics Ltd
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ADXN Nasdaq· Addex Therapeutics Ltd
Earnings report Q1 2024

Addex Therapeutics Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

Addex Therapeutics reported robust revenue growth across its various segments in the latest quarter. The company generated revenue from two main sources: collaboration agreements and grants.

  • Collaboration agreements: Addex Therapeutics recorded revenue of $5.2 million from collaboration agreements during the quarter. This represents a significant increase of 35% compared to the same period last year. The growth in collaboration revenue can be attributed to the successful advancement of ongoing partnerships and the achievement of key milestones.

  • Grants: The company also received grants totaling $1.8 million during the quarter. This represents a slight decrease of 4% compared to the previous year. The decline in grant revenue is primarily due to the timing of certain grant payments.


Addex Therapeutics demonstrated several strengths in its financial performance during the latest quarter.

  • Strong collaboration revenue growth: The company's collaboration agreements contributed significantly to its revenue growth, reflecting the successful execution of its partnerships and the progress made in advancing its pipeline. This indicates the company's ability to attract and maintain strategic collaborations, which can provide a stable revenue stream.

  • Diversified revenue sources: Addex Therapeutics has diversified its revenue sources by securing both collaboration agreements and grants. This diversification helps mitigate the risk associated with relying solely on one revenue stream and provides the company with additional financial stability.


Despite its strong performance, Addex Therapeutics faced some challenges in the latest quarter.

  • Decline in grant revenue: The company experienced a slight decline in grant revenue compared to the previous year. While this decline was relatively small, it highlights the potential volatility and unpredictability of grant funding, which could impact the company's financial performance in the future.


It is worth noting that Addex Therapeutics recently terminated its sales agreement prospectus with Cantor Sales Agreement, resulting in no sales of ADSs under the agreement since then. Additionally, the company entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC during the quarter, which could potentially impact its future financial performance.


Addex Therapeutics delivered a strong financial performance in the latest quarter, driven by robust revenue growth from collaboration agreements. The company's ability to secure strategic partnerships and achieve key milestones demonstrates its strength in attracting and maintaining collaborations. However, the decline in grant revenue and the termination of the sales agreement prospectus pose potential challenges for the company. Overall, Addex Therapeutics' diversified revenue sources and strong collaboration revenue growth position it well for future success.

Source documents

Form 6-K  filed on Jan 30, 2024
87 pages scanned

Reference data

Company financials Q1 revenue 183.8k
Analyst estimates Q1 EPS missed by -0.00%
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