Addex Therapeutics: Addex Spin-Out Neurosterix Completes Phase 1 Clinical Studies of NTX-253 for Schizophrenia
Addex Therapeutics (ADXN) announced its spin-out, Neurosterix, completed Phase 1 trials for NTX-253, a schizophrenia treatment. Neurosterix plans to advance NTX-253 to Phase 2. Addex holds a 20% stake in Neurosterix, which raised $65M in Series A funding. NTX-253 is a positive allosteric modulator of the muscarinic M4 receptor, showing promising preclinical results.
How this was made
The 30-second read
Why it matters
The Phase 1 completion provides safety and PK data, clearing a key hurdle and setting the stage for Phase 2 enrollment.
Market read
First disclosure of Phase 1 success for NTX‑253, a potential schizophrenia therapy, likely to generate short‑term buying interest.
What to watch
Addex holds only a 20% stake in Neurosterix, limiting upside from the spin‑out's future valuation.
Background
Addex Therapeutics (NASDAQ: ADXN) is a clinical‑stage biotech focused on allosteric modulators for neurological disorders.
Ticker impact
Addex Therapeutics announced its spin‑out Neurosterix completed Phase 1 of NTX‑253 and will move to Phase 2, a fresh clinical milestone for the company.
likely upward pressure as investors price in the Phase 2 start
Phase 1 completion is a material catalyst for a clinical‑stage biotech; market typically reacts positively to successful early‑stage data.
Market effects
May boost other neuro‑pharma stocks as investors reassess the M4 PAM pipeline.
Limited to Swiss and US biotech markets.
Modest; primarily relevant to biotech investors.
Counterpoint
Phase 1 success does not guarantee Phase 2 outcomes; risk of later trial failure could temper enthusiasm.
Key entities
- companyAddex Therapeutics
Parent biotech announcing the milestone.
- spin‑outNeurosterix
Company conducting the NTX‑253 trial.
