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Addex Increases Issued Share Capital and Creates Treasury Shares | ||||
By: Nasdaq / GlobeNewswire - 30 May 2016 | Back to overview list |
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Geneva, Switzerland, 30 May 2016 - Addex Therapeutics (SIX: ADXN) announced today that it has increased its capital from 11,699,612 to 13,454,553 through the issue of 1,754,941 new registered shares at nominal value of CHF1 each to Addex Pharma S.A, its 100% subsidiary. The new shares were issued from the Company's authorized share capital and are listed on The SIX Swiss Exchange. The transaction has been executed to provide the Group with additional treasury shares that can be used in the future to raise funds in an efficient manner. "We have executed this transaction to provide additional financing flexibility as we execute on our strategy to advance the clinical development of dipraglurant and ADX71441" explained Tim Dyer, Chief Executive Officer of Addex. "Dipraglurant has recently received orphan drug designation for levodopa-induced dyskinesia associated with Parkinson's disease and is scheduled to start a Phase 2a proof of concept study in focal cervical dystonia."
About Addex Therapeutics
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Disclaimer / Forward-looking statements: This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Addex Therapeutics Ltd. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Addex Therapeutics via GlobeNewswire
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