Addex tanks as ADX71149 Phase II epilepsy study misses goal

Switzerland’s clinical-stage biotech Addex Therapeutics (SIX: ADXN) saw its shares plunge 50% to 0.058 francs this morning, after it reported disappointing trial results for its epilepsy candidate.

Addex announced that top-line data from a Phase II epilepsy study evaluating adjunctive ADX71149 (JNJ-40411813) administration in patients with focal onset seizures with suboptimal response to levetiracetam or brivaracetam, did not achieve statistical significance for the primary endpoint of time for patients to reach baseline seizure count when ADX71149 was added to standard of care.

ADX71149 (mGlu2 positive allosteric modulator or PAM) is being developed in collaboration with the Johnson & Johnson (NYSE: JNJ) subsidiary Janssen.