Addex Therapeutics Q3 Sales $370.87K Down From $430.68K YoY; Net Loss $2.96M Versus $4.65M YoY
Portfolio Pulse from Benzinga Newsdesk
Addex Therapeutics (NASDAQ:ADXN) experienced a decrease in Q3 sales to $370.87K, down 13.89% from $430.68K YoY. The company also reported a net loss of $2.96M, an improvement from a net loss of $4.65M YoY. Cash and cash equivalents fell to CHF 4.8M from CHF 10.4M the previous year.
November 29, 2023 | 6:19 am
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NEGATIVE IMPACT
Addex Therapeutics reported a decline in Q3 sales and a reduced net loss compared to last year. Cash reserves have significantly decreased.
The decrease in sales and the significant reduction in cash reserves are likely to be viewed negatively by investors, potentially leading to a short-term negative impact on the stock price. However, the improvement in net loss may provide some positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100