Addex Therapeutics said it raised $2.8 million through an at-the-market (ATM) equity offering, selling 437,869 American Depositary Shares (ADS) representing 52.54 million ordinary shares.
The proceeds extend the biotech company’s cash runway into the fourth quarter of 2027, the firm said in a statement on Wednesday. The ATM program allows Addex to issue shares incrementally at prevailing market prices, providing flexible financing without diluting existing shareholders upfront.
The ATM follows Addex’s ongoing collaboration with Roche, which includes a $52 million upfront payment tied to the development of a drug candidate. The milestone payment is expected in 2025, according to the agreement terms.
