Addex depression drug fails in trial, shares dive

|About: Addex Pharmaceuticals Ltd. (ADDXF)|By:, SA News Editor

Addex Therapeutics' (ADDXF) ADX71149 treatment for anxious depression was not more effective than a placebo in a Phase IIa trial.

The results don't "support the further development of ADX71149 in anxious depression," Addex says, although the exploration of the drug for other purposes "remains of potential interest."

Johnson & Johnson (JNJ) unit Janssen conducted the trial.

The failure is a major blow, as anxious depression is a leading cause of disability worldwide.

Addex shares are -27% in Zurich. (PR)