1. Addex Therapeutics amended its ATM Agreement for $3.3 million. 2. The offering allows sale of ADSs at market discretion. 3. Sales commission set at 3% for H.C. Wainwright & Co. 4. Addex is advancing multiple drug candidates for neurological disorders. 5. No mandatory sales under the ATM Agreement; subject to market conditions.
FAQ
Why Neutral?
While the ATM Agreement allows for capital, it does not indicate immediate positive growth. Historically, similar agreements have led to dilution concerns, impacting stock prices temporarily.
How important is it?
The amendment enhances liquidity potential but could raise concerns over stock dilution.
Why Short Term?
The effect of the ATM Agreement will likely be felt quickly, as funds may influence liquidity. However, long-term impacts depend on clinical milestones or market condition changes.
Addex Therapeutics Amends At-The-Market Offering Agreement with H.C. Wainwright & Co.
Geneva, Switzerland - December 11, 2025 - Addex Therapeutics (SIX and Nasdaq: ADXN), a clinical-stage biopharmaceutical company, has recently made significant updates to its At-The-Market Offering Agreement (ATM Agreement) with H.C. Wainwright & Co., which was originally established on January 30, 2024.
Key Details of the Amended ATM Agreement
The revised ATM Agreement allows Addex to offer and sell American Depositary Shares (ADSs) with a total aggregate price of up to $3.3 million at its discretion, through H.C. Wainwright & Co. as its sales agent. The issuance of ADSs will be governed by the Company’s effective registration statement on Form F-3 (Registration Statement No. 333-291644).
H.C. Wainwright & Co. is permitted to utilize various lawful methods for these offerings, as classified under Rule 415(a)(4) of the Securities Act of 1933, including sales via The Nasdaq Capital Market or any other relevant trading market for the ADSs.
Sales Process and Commission Structure
Under the agreement, H.C. Wainwright & Co. will exert commercially reasonable efforts to sell the ADSs based on Addex's instructions, including price points, timing, or quantity limitations. For these sales, Addex will incur a commission fee of 3% of the gross sales proceeds from ADSs sold.
It is important to note that Addex is not obliged to conduct any ADS sales under this ATM Agreement, and either party can suspend or terminate the offering with prior notification.
Legal Considerations and Limitations
This announcement does not constitute an offer to sell or a solicitation to buy securities. Furthermore, no sales will occur under the ATM Agreement within Switzerland or in any jurisdiction where such an offer would contravene local laws prior to necessary registration or qualification.
About Addex Therapeutics
Addex Therapeutics is dedicated to developing a range of innovative small molecule allosteric modulators aimed at treating neurological disorders. Its lead candidate, dipraglurant, a negative allosteric modulator of mGlu5, is being investigated for potential use in post-stroke and traumatic brain injury recovery.
Additionally, the company is exploring a partnership with Indivior to further develop a GABAB positive allosteric modulator for substance use disorders. Addex holds a 20% equity stake in Neurosterix US Holdings LLC, a company focused on allosteric modulator programs for schizophrenia and mood disorders.
Forward-Looking Statements
This press release includes forward-looking statements under the Private Securities Litigation Reform Act of 1995 regarding Addex's future plans and the anticipated use of proceeds from the ATM Agreement. Key words like “may,” “expect,” “plan,” and similar expressions identify these statements, though the exact outcomes may vary due to uncertainties and market conditions.
Risks and uncertainties influencing these statements are detailed in Addex’s Annual Report on Form 20-F and other official filings with the SEC. Addex Therapeutics disclaims any obligation to update these forward-looking statements following the release date.