Addex Therapeutics Shares Rise 13% on Neurosterix Launch

Dow Jones04-03

By Denny Jacob

Addex Therapeutics shares rose 14% to $15.14 in premarket trading Wednesday following the launch of Neurosterix.

The stock has more than doubled on the year.

The clinical-stage biopharmaceutical company, and funds affiliated with Perceptive Advisors, together launched Neurosterix, a company focused on treatments for underserved neurological disorders. Addex said Neurosterix will acquire a portfolio of preclinical assets as well as a technology platform from Addex with initial funding of $63 million from Perceptive Xontogeny Venture Fund II and other participants.

Addex in turn will receive 5 million Swiss francs ($5.5 million) and a 20% stake in Neurosterix.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

April 03, 2024 09:04 ET (13:04 GMT)

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