Addex Therapeutics Ltd

Good day and thank you for standing by. Welcome to the edX Therapeutics first quarter 2026 financial results and corporate update conference call and webcast. 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 need to press star 1 1 on your telephone keypad. You will then hear an automatic message advising your hand is raised. To withdraw a question please press star 1 and 1 again. If you wish to ask a question via the webcast, please use the Q&A box available on the webcast link at any time during the live event. Please be advised that this conference has been recorded. I would now like to hand the conference over to our first speaker today, Tim Dyer, CEO. Please go ahead.

Hello, everyone. I would like to thank you all for attending our Q1 2026 Financial Results Conference call. I am here with Mikhail Kalinichev, our Head of Translational Appliance, who will provide an update on our R&D program. I 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 activities and achievements before reviewing our pipeline. I will then hand over to Misha, who will review in more detail our MGLA5 negative allosteric modulator program for brain injury recovery and the GABA-B positive modulator program for cough. I will then review our 2026 Q1 financial results. Following that, we will open the call for Q&A. So starting with the highlights, Q1 has seen several important achievements across our pipeline. We've made excellent progress in our GABA-B positive modulator cough program as we continue to compete preclinical characterization of our related compounds. We recently announced robust anti-tusive activity in a non-human primate cost model as well as solid anti-tusive activity in an idiopathic pulmonary fibrosis model in guinea pigs. These data further demonstrate the potential of our selected compound in this important medical need. In parallel to completing the preclinical profiling, we are working to secure funding to advance the program into the IND enabling studies. Mikhail will be sharing some of the data with you later in our presentation. We've repositioned Diproglurant, our mGluR5 negative allosteric modulator for brain injury recovery and have made good progress in preparing the program for clinical studies in post-stroke recovery patients. In 2025, we entered into an option agreement giving us access to an exclusive license to intellectual property covering the use of mGluR5 and Brain Injury Recovery, including stroke and TBI. Included in the agreement is a research collaboration under which we are working with Syntaxis and the University of Lund in Sweden to complete preclinical profiling of Dipregluant and prepare for clinical studies. Again, Misha will talk more about this exciting program later in the presentation. As a reminder, we spun out our portfolio of preclinical neuropsychiatric assets in 2024 to create NeuroSterics and raise $65 million from syndicate of investors led by Perceptive Designers. We retained a 20% equity interest in NeuroSterics, the value of which is unfortunately not being properly reflected in our current share price. Neurosterix has made excellent progress in advancing its pipeline, including its M4PAM and mGluR7NAM programs. The lead drug candidates in the M4PAM program, NTX253, is in phase one, and we expect data in Q3 this year. On the financial side, we completed the quarter with 0.9 million Swiss francs of cash and have successfully raised 0.3 million in Q2. Given that our cash burn is extremely low following the neurosteric spin-out, this provides us with cash underway through into Q4 of 2026 on a going concern basis. However, current cash does not fund the progression of our unpartnered programs into the clinic. So now for a quick review of our pipeline. As mentioned, we continue to believe in DIP Proclorance And we are executing our plans to reposition the development for brain injury recovery. As a reminder, we have regained the rights to ADX 71149 from our partner, J&J, with a high-value data set and significant GMP materials. We're currently evaluating a number of therapeutic indications for future development. And in parallel, we are discussing with potential partners for the asset. For Agaba B. Pound collaboration with Indivior, Indivior has selected a compound for development in substance use disorders and has successfully completed IND enabling studies. As a reminder, under the terms of the agreement, Alex is eligible for payment of up to 330 million on successful achievement of a pre-specified regulatory clinical commercial milestones, as well as tiered royalties on the level of net sales from high single digit up to low double digits. As mentioned, Earlier, we are advancing an independent GABA-B program for COFF and expect to start IND-enabling studies this year, subject to securing financing. Also presented on this slide is the portfolio of our spin-out company, Neurosterix. We are expecting phase one data from NTX253 program in Q3. Backup M4PAM compound NTX529 has been selected for IND-enabling studies, which should start shortly. The mGlu7 NAMM program has selected NTX819, a highly selective first-in-class compound, which has demonstrated robust preclinical anxiolytic and antidepressant-like activity, which supports its development as a potential next-generation therapy. We expect NTX819 to complete IND-enabling studies in the coming months. Now I will hand over to Misha, who will give you some more details about our exciting portfolio.

Thanks, Tim.