Addex Therapeutics Ltd

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good day and thank you for standing by welcome to the adex therapeutics to announce half year 2022 financial results and provides corporate update conference calls at this time all participants are in listen only mode after the speaker's presentation there will be the question and answer session to ask a question during the session you will need to to press star 1 1 on your telephone you will then hear an automated message advising your hand is raised to ask a question Via the webcast, please access the Ask a Question tab. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, Tim Dyer. Please go ahead.

Thank you. Hello, everyone. I'd like to thank you all for joining our Q2 2022 Financial Results Conference call. I'm here with Roger Mills, our Chief Medical Officer, and Robert Lugins, our Head of Discovery Biology. Draw your attention to the press release and the financial statements issued earlier today, which are available on our website. I also draw your attention to our disclaimer. We will be making certain forward-looking statements that are based on the knowledge we have today. I will start this conference call by giving a quick overview of our recent achievements, before handing over to Roger and Robert, who will review our clinical and preclinical pipeline. I will then review our financial results. Followed that, we will open the call for Q&A. During the second quarter of this year, we had to take the difficult decision to terminate the development of dipreglurant in dyskinesia associated with Parkinson's disease. This was due to the slow patient recruitment, which was attributed to the impact of COVID-19 on the interest of Parkinson's patients to join our clinical study, as well as staffing challenges and staff turnover at clinical trial sites. This decision has significantly delayed the development of Deproglurant for PD-LID and negatively impacted the prospects of a marketing approval for Deproglurant. In addition, the inconclusive results from our blepharospasm clinical study was also a significant disappointment. And as a result, we have terminated the development of dipogluant in dystonia. We continue to believe in dipogluant and are currently evaluating its future development in PD-LID and a number of other disease areas, including pain, substance use disorder, neurodevelopmental disorders, and stroke rehabilitation. Despite these setbacks in the development of Dipraglurant, we continue to make excellent progress towards achieving our other strategic objectives. Our partner, Janssen, continues to make significant progress in executing their global phase two study in epilepsy patients. Due to the disruption caused by the Ukraine-Russia conflict and the impact it has had on the recruitment of patients at sites which were active in these countries, We have revised our guidance for reporting data from epilepsy study from Q4 to Q1 of 2023. We are very excited by our preclinical pipeline, which has made excellent progress with multiple clinical candidates rapidly advancing towards IND enabling studies. Earlier this week, we announced the extension of our strategic collaboration on GABA-BPAM with Indivio and their commitment of an additional $900,000 of research funding to advance drug candidates through to the start of IND enabling studies. In addition, we have agreed with Indivio to expand our reserved indications to include chronic cough. As a reminder, Indivio's primary interest is substance use disorders. And under the agreement, we have retained the right to select drug candidates for development. in certain exclusive reserved indications. Our GABA-BPAM funded research effort has progressed to late clinical candidate selection phase with multiple candidates being profiled in secondary disease relevant models. We expect Indivior and ourselves to select compounds early in 2023 to advance into IND enabling studies. We plan to develop our independent program in Charcot-Marie-Tooth 1A neuropathy, chronic cough and pain. We have made great progress in our mGluR7 negative allosteric modulator program for stress-related disorders and have successfully identified a compound ready to enter IND-enabling studies. We continue to advance the selection of differentiated backup compounds through late clinical candidate selection. Our mGluR2 negative allosteric modulator program for mild neurocognitive disorders associated with Alzheimer's disease, Parkinson's disease, and depression has entered clinical candidate selection phase. And last but not least, our M4PAM program is advancing rapidly through lead optimization. M4PAM is a particularly exciting target for schizophrenia, especially following the recent positive phase three data from Karuna. On the financing side, the 4.6 million of equity financing completed in July has increased our cash reserves to 12 million at the end of July, providing us with a cash runway through Q2 of 2023. So now I'd like to hand over to Roger.