Addex Spin-Out Neurosterix Takes NTX-253 Closer To Phase 2 Schizophrenia Trial
Neurosterix, a spin-out from Addex Therapeutics (ADXN), completed Phase 1 trials for NTX-253, a schizophrenia treatment. The data supports advancing to Phase 2. Neurosterix was spun out in April 2024 with a $65M Series A funding. ADXN holds 20% equity. ADXN stock is up 10.50% in pre-market trading.
How this was made
The 30-second read
Why it matters
The Phase 1 completion provides the first human safety and PK readout for NTX‑253, a potential differentiated treatment for schizophrenia, potentially de‑risking the program for future funding.
Market read
First‑report of Phase 1 data drives a notable pre‑market rally in ADXN, indicating short‑term trading interest.
What to watch
Addex retains only 20% of Neurosterix; future dilution or partnership terms could affect upside.
Background
Addex Therapeutics (ADXN) spun out Neurosterix in 2024 with a $65 M Series A round; the company focuses on allosteric modulators for CNS disorders.
Ticker impact
Addex Therapeutics announced its spin‑out Neurosterix completed Phase 1 studies of NTX‑253 and the stock rose 10.5% in pre‑market trading.
likely upward pressure as traders price in the favorable trial results
First‑report of Phase 1 safety and PK data for a novel M4 PAM, with immediate pre‑market price reaction.
Market effects
May lift sentiment for muscarinic‑targeted neuro‑psychiatric biotech sector.
Limited to US‑listed biotech investors; no broader regional effect.
Modest, confined to specialty pharma and biotech investors.
Counterpoint
Phase 1 data are early; investors may wait for Phase 2 before committing.
Key entities
- companyAddex Therapeutics
US‑listed biotech (ADXN) that holds a 20% equity stake in Neurosterix.
- companyNeurosterix
Spin‑out developing NTX‑253, a muscarinic M4 PAM for schizophrenia.
