The Life Sciences Report

Addex Therapeutics TICKER: ADXN:SIX; ADDXF:OTCBB Addex Therapeutics is pioneering discovery and development of an emerging class of oral, small-molecule drugs called allosteric modulators, which can offer significant therapeutic advantages over conventional "orthosteric" drugs. The company uses its proprietary discovery platform to address receptors and other proteins that have been undruggable for conventional drug discovery methods, including G protein-coupled receptors, receptor tyrosine kinases and cytokine receptors. Many such targets have previously remained inaccessible to small-molecule drug discovery.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

Jason Napodano, Zacks Small-Cap Research (6/7/13) "The significant pullback in Addex Therapeutics' shares over the past few months creates an interesting buying opportunity, in our view. . .we think the stock can easily be worth $9/share again on successful ADX71149 phase 2 data in major depressive disorder/anxiety late 2013 and the market’s realization that the company can capture a good portion of the potential $143M in future milestones from Johnson & Johnson on this program. If Addex finds a partner for dipraglurant, the shares could see double digits." -Zacks Small-Cap Research

Jason Napodano, Zacks Small-Cap Research (5/15/13) "On February 7, 2013, Addex Therapeutics announced it would focus its resources on developing its clinical-stage pipeline for rare diseases. This is in contrast to the previous focus of the company, which included broad development programs in large diseases like schizophrenia, depression and anxiety. The new strategy includes narrowing the focus on the company to molecules where management believes orphan drug status can be obtained, thus reducing both the time and cost to develop the drugs while guaranteeing market exclusivity and potentially attracting partners." -Zacks Investment Research

Michael Aitkenhead, Edison Investment Research (4/19/13) "Addex Therapeutics has reported positive preclinical data for dipraglurant (an oral mGlu5 inhibitor) in a validated model of primary generalized tortional dystonia 1 (DYT1), a severe genetic form of dystonia (involuntary muscle spasms). . .positive dipraglurant preclinical data in dystonia support progression into a phase 2 trial in H1/13."

Robin Davison, Edison Investment Research (3/5/13) "Addex Therapeutics is to undergo a restructuring that will substantially reduce the size of its Swiss research operations to free up financial resources for the clinical development of two programs—dipraglurant and ADX71441—for orphan disease indications. . .a listing on NASDAQ could broaden the potential U.S. investor base. . .the central element of the company's revised strategy is to advance its clinical-stage candidates. . .this is, in our view, sensible, as orphan drugs offer a potentially quicker (and less expensive) route to market and decent revenue-generating potential."

Juan Sanchez, Ladenburg Thalmann (2/8/13) "Addex Therapeutics announced important strategic changes including: 1.) A focus on rare diseases with at least two programs in the next 12 months, 2.) Reduce early-stage discovery efforts and focus on monetizing non-rare-disease opportunities and 3.) Plans to list on a U.S. stock exchange. . .we believe the company's decision to focus on orphan indications could allow it to generate proof-of-concept data and maintain the option of becoming a commercial company (and/or retain greater share of economics) in a shorter period of time and with less financial resources than with other alternatives. . .we see ADX71149 as a source of upside potential. . .and believe the ADX71149 program could be potentially transformative for Addex."

Addex Therapeutics Content

Corporate Presentation (4/3/13)

• Read an Interview by the Michael J. Fox Foundation discussing Addex's new Parkinson's Treatment.

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