Addex Shares Surge As Neurosterix Closes $105M Financing To Advance Schizophrenia Program
Addex Therapeutics (ADXN) reported that its former subsidiary, Neurosterix, raised $105M in Series B funding. The funds will support Phase 2 trials for NTX-253, a schizophrenia treatment, and other neuropsychiatric programs. Addex's stake in Neurosterix is now 8.5%, valued at $18.6M. ADXN's stock surged 110.08% in overnight trading.
How this was made
The 30-second read
Why it matters
The financing is a primary disclosure with material scale, driving a 110% stock surge and reshaping investor expectations for Addex's pipeline.
Market read
The large financing and immediate price reaction make this a high‑impact news item for traders focused on biotech capital raises.
What to watch
Potential future partnership or licensing deals for Neurosterix's pipeline could further affect valuation.
Background
Addex Therapeutics (ADX) announced that its former subsidiary Neurosterix completed a $105M Series B financing to advance its schizophrenia drug candidate NTX-253 and other programs.
Market effects
Adds momentum to the neuroscience/psychiatric drug development sector as a large financing validates the approach.
Primarily impacts US biotech investors; limited broader regional effect.
Highlights continued capital flow into niche psychiatric therapeutics worldwide.
Counterpoint
Dilution of Addex's stake and lack of participation may signal management's limited confidence, suggesting caution.
Key entities
- companyAddex Therapeutics
US-listed biotech company (ticker ADX) reporting the financing.
- companyNeurosterix
Former Addex subsidiary receiving the $105M financing.
