Addex Therapeutics disclosed its full‑year 2025 financial results, reporting a net loss of CHF 6.7 million compared with a CHF 7.1 million profit in 2024. The loss reflects the absence of the one‑time divestment gains recorded in 2024 and increased losses from its investment in Neurosterix.
Operating income fell to CHF 0.2 million, driven by a CHF 0.2 million income from continuing operations and higher research and development expenses of CHF 0.7 million. General and administrative costs rose to CHF 2.3 million, pushing operating income into the negative.
Cash and cash equivalents at year‑end were CHF 1.6 million, down from CHF 3.3 million in 2024, underscoring the company’s limited liquidity and the need for external financing to support its pipeline.
Management emphasized continued progress in its drug development portfolio. The GABAB PAM candidate for chronic cough advanced on track, and the company regained rights to its Phase 2 mGlu2 PAM asset, ADX71149, while dipraglurant is being repositioned for brain injury recovery. A strategic investment in Stalicla and an option agreement with Sinntaxis further broaden the company’s intellectual‑property base.
The Neurosterix spin‑out, completed in April 2024, remains a significant headwind. Addex retains a 20 % equity interest, and the investment’s losses of CHF 4.0 million in 2025 weighed heavily on the bottom line. Despite these challenges, the company’s focus on pipeline development signals a long‑term growth strategy.
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