Addex: Preliminary half-year results and second quarter 2024 increased from net loss to net profit Page 1

Ad hoc announcement pursuant to Art. 53 LR

Geneva, Switzerland, 19 September 2024 – Addex Therapeutics (SIX/NASDAQ: ADXN), a clinical-stage biopharmaceutical company focused on developing a portfolio of novel small molecule allosteric modulators for neurological diseases, today announced that its preliminary net results for the first half and second quarter of 2024 improved significantly compared to 2023 and first quarter of 2024 results, primarily due to the sale of part of its business to Neurosterix Pharma Sàrl on April 2, 2024.

The provisional result amounts to a net profit of CHF 9.8 million for the six months ended June 30, 2024 compared to a net loss of CHF 5.1 million for the six months ended June 30, 2023. The increase of CHF 14.9 million is primarily due to the gross proceeds of CHF 5.0 million in cash from the sale of part of the Addex business and the fair value of the 20% interest in Neurosterix US Holdings LLC received as part of the consideration and recorded at a fair value of CHF 9.4 million on April 2, 2024. The Group’s cash balance was CHF 3.8 million as of June 30, 2024.