Addex Therapeutics extends its cash runway into the fourth quarter of 2027

Addex Therapeutics, the Geneva-based clinical-stage biotech developing small-molecule allosteric modulators for neurological disorders, has raised gross proceeds of USD 2.8 million through its at-the-market program.

Addex Therapeutics has raised gross proceeds of USD 2.8 million through its at-the-market program with US investment bank H.C. Wainwright & Co. The sale extends the company’s cash runway to the fourth quarter of 2027.

Founded in 2002 in Geneva, Addex develops small-molecule allosteric modulators for neurological disorders. Its lead candidate, dipraglurant, targets brain injury recovery, including after stroke and traumatic brain injury.

The company entered into the at-the-market agreement in January 2024, under which H.C. Wainwright acts as sales agent for a 3 percent commission on gross proceeds. Initially capped at USD 2.1 million of American depositary shares, an equity stake in a non-US company held by a US bank and available to US investors, the ceiling was raised to USD 3.3 million in December 2025. Addex has now sold 437,869 American depositary shares, representing more than 52 million ordinary shares. The total number of issued shares was unchanged at just over 218.5 million, while shares in circulation rose to more than 210 million.

The company has also been active beyond its own pipeline, having launched the Geneva-based spin-off Neurosterix and led an investment in Stalicla.