aibioAddex Therapeutics files late-filing notice for its 2025 annual report on Form 20-F
Tickers ADXN
Addex Therapeutics filed a Form NT 20-F on April 30, 2026, saying it will miss the deadline for its 2025 annual report. It reported a 2025 net loss of CHF 6.7 million, against a 2024 profit of CHF 7.1 million that the company ties to a sale of part of its business.
Key facts
- Company
- Addex Therapeutics Ltd (SIX: ADXN)
- News type
- Distress
- Primary source
- Addex Therapeutics Ltd NT 20-F (2026-04-30)
The late notice
Addex Therapeutics Ltd filed the notice with the Securities and Exchange Commission on April 30, 2026. It is a Form 12b-25 for the annual report on Form 20-F for the year ended December 31, 2025. The company said it could not file the report by the due date without unreasonable effort or expense because of a delay "in completing its financial statements and other disclosures." It expects to file "as soon as practicable" and on or before the 15th calendar day after the due date.
The notice names Tim Dyer, the chief executive, as the contact. The company answered yes when asked whether all other periodic reports required in the preceding 12 months had been filed. It also answered yes when asked whether a significant change in results of operations is expected.
The loss
On the same day, the company furnished a Form 6-K with a press release on its full-year results. The notice says the company reported a net loss of CHF 6.7 million for the twelve months ended December 31, 2025, compared with a net profit of CHF 7.1 million for 2024. The CHF 13.8 million decrease is "primarily due to the consideration received in 2024 for the sale of a part of our business to Neurosterix."
The operating lines moved little. Income from continuing operations fell to CHF 0.2 million from CHF 0.4 million. Research and development expenses from continuing operations fell by CHF 0.2 million, to CHF 0.7 million. General and administrative expenses were unchanged at CHF 2.3 million in both years.
The Neurosterix stake
On April 2, 2024, Addex received a 20% equity interest in Neurosterix US Holdings LLC as part of the Neurosterix transaction. The investment is accounted for under the equity method. For 2025, the company's share of the Neurosterix Group's net loss was CHF 4.0 million. For the period from April 2 to December 31, 2024, the share was CHF 2.2 million. The 2025 figure covers twelve months, while the 2024 figure covers only April 2 to December 31, in a business that Addex sold part of in 2024 and now holds only as a minority investor.
The earlier figures
The company's 2024 annual report on Form 20-F, filed May 15, 2025, reports revenue of CHF 404,102 for 2024, down from CHF 1.6 million in 2023. Cash used in operations was CHF 5.4 million in 2024, against CHF 8.0 million in 2023. Year-end cash and cash equivalents were CHF 3.3 million at December 31, 2024, according to a 6-K filed September 30, 2025. The company reported cash and cash equivalents of CHF 2.3 million at June 30, 2025.
What the notice leaves out
The notice does not say what the delay involves, which financial statements or disclosures are incomplete, or whether the auditor has raised any issue. It does not mention going-concern language. It gives no full-year cash balance for 2025 and no 2025 cash used in operations, so the company's position at year end cannot be measured from the notice.
What comes next
The company says the Form 20-F will be filed as soon as practicable, and on or before the 15th calendar day after the due date. The notice sets no firm date and does not say what the 20-F will report beyond the figures above.