- Addex Therapeutics Ltd (NASDAQ:ADXN) has terminated the Phase 2b/3 study of dipraglurant for dyskinesia associated with Parkinson's disease (PD-LID) due to the slow recruitment of patients.
- Data readout from the trial was expected in 1H of 2023.
- The company attributes this to the consequences of COVID-19-related patient concerns about participation in studies, staffing shortages, and turnover within study sites.
- The company plans to advance its preclinical portfolio toward the clinic and pursue strategic collaborations for selected programs.
- Concurrently the company is also focusing on delivering under its strategic partnership with Indivior.
- Addex's partner, Janssen, a unit of Johnson & Johnson (NYSE:JNJ), is also expected to deliver data from the Phase 2 study of ADX71149 in epilepsy patients in Q4 of 2022.
- Last month, Addex announced that the outcome of a small Phase 2a feasibility study of dipraglurant in patients with blepharospasm was inconclusive and did not meet all of its objectives.
- There were no safety concerns.
- In light of the company's termination of the dipraglurant program for PD-LID, the company is suspending the company's financial guidance.
- Price Action: ADXN shares are 39.9% at $2.01 during the premarket session on the last check Friday.
