This company has blockbuster potential folks -- a cutting edge R&D platform that has just yielded it's first potential blockbuster drug. There are over 40 candidate drugs in their pipeline.
After the news yesterday, shares are up 15% at CHF 7.50, which gives the company a mkt cap of CHF 60 million. In a few years, they should have earnings of more than that... it's a 10-bagger in the making (with the requisite risks, of course).
"These data for dipraglurant are positive and we are pleased to have demonstrated robust proof of concept," said Charlotte Keywood, MD, Chief Medical Officer of Addex. "Both dipraglurant doses had a good safety and tolerability profile and demonstrated efficacy. The increase in on-time without dyskinesia, combined with the decrease in off-time observed during week 4, is encouraging, and warrants further evaluation. It's particularly promising that the significant reduction in dyskinesia severity on the mAIMS was mirrored by a reduction in patient reported dyskinesia time and that both clinicians and patients favoured dipraglurant over placebo."
"Addex is leading the effort in developing this potential breakthrough therapy, which could change the treatment paradigm for Parkinson's disease," said Dr. Bharatt Chowrira, CEO of Addex. "With these promising positive data in hand, we intend to seek a partner to progress dipraglurant to the market as rapidly as possible."
While dipraglurant has broad potential for treating Parkinson's and other diseases, the most direct path to market is treatment of PD-LID. No drug is approved for PD-LID and LID has been identified by the regulatory authorities, patient advocacy groups, such as The Michael J. Fox Foundation, and key opinion leaders as a very important unmet medical need. The potential market opportunity for dipraglurant in Parkinson's disease is well in excess of $1 billion, according to Datamonitor. Potential label expansions could more than double the peak sales potential for dipraglurant.
