Addex Therapeutics Reported Q2 EPS Of CHF0.08, Cash Balance Of CHF3.8M
Portfolio Pulse from Benzinga Newsdesk
Addex Therapeutics reported a Q2 2024 EPS of CHF0.08 and a cash balance of CHF3.8M. The company experienced a net profit of CHF12.879M for the period, a significant improvement from a loss of CHF2.675M in the previous year. Despite a decrease in cash and cash equivalents, the overall financial performance shows a positive turnaround.
September 30, 2024 | 6:49 am
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Addex Therapeutics reported a Q2 2024 EPS of CHF0.08 and a net profit of CHF12.879M, showing a significant improvement from the previous year's loss. The cash balance decreased to CHF3.8M.
The significant improvement in net profit from a loss to a profit indicates a positive financial turnaround for Addex Therapeutics. This is likely to boost investor confidence and positively impact the stock price in the short term. However, the decrease in cash balance may be a concern for liquidity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100