Addex stock falls as mid-stage study of dipraglurant in eye movement disorder fails

May 27, 2022 6:39 AM ETAddex Therapeutics Ltd (ADXN)ADDXFBy: Ravikash, SA News Editor

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Addex Therapeutics (NASDAQ:ADXN) (OTC:ADDXF) said a phase 2a feasibility trial of dipraglurant in patients with blepharospasm was inconclusive and did not meet all of its goals.

Blepharospasm is a rare neurological disorder affecting muscles around the eye which leads to blinking or other eyelid movements, such as twitching, which cannot be controlled.

The trial enrolled 15 patients and its's main goal was to evaluate the safety and tolerability of dipraglurant in patients administered with 50mg and 100mg doses.

The company added that the effects on the severity and frequency of the disease's symptoms using objective measures, clinical ratings and patient reported outcomes were also evaluated as secondary goals.

The company noted that there were no safety concerns.

Addex said that dipraglurant is a metabotropic glutamate receptor subtype 5 negative allosteric modulator, or mGlu5 NAM.

"Addex remains committed to our allosteric modulator approach to drug discovery and development with two clinical trials currently ongoing. Our pivotal Phase 2B/3 study with dipraglurant for the treatment of Parkinson’s disease levodopa induced dyskinesia, or PD-LID, remains on track to report data in the first half of 2023. A Phase 2 study of ADX71149 in epilepsy being conducted by our partner Janssen is expected to report data in Q4 2022,” said Addex CEO Tim Dyer.

ADXN -5.81% to $3.64 premarket May 27

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