Addex Therapeutics Ltd. (ADXN) reported a second-quarter net profit of 12.88 million Swiss francs, reversing the previous year's net loss of 2.68 million francs.
Net profit per share stood at 0.08 franc, a significant improvement compared to a net loss per share of 0.04 franc in the same period of 2023.
For continuing operations, the clinical-stage biopharmaceutical company specializing in neurological disorders observed a net loss of 1.46 million francs, which is deeper than the prior year's loss of 521 thousand francs.
The total operating loss increased to 899 thousand francs from the previous year's loss of 396 thousand francs.
Income for the period decreased to 115 thousand francs, compared to 632 thousand francs last year.