Addex Therapeutics (Nasdaq: ADXN), the stock was surging higher in the premarket session. The stock skyrocketed 92.85% to $20.49. In the previous trading session, ADXN shares changed hands 25677 times. The session opened at the rate of $10.58. During the day, its highest price was $10.73, and its lowest price was recorded at $10.45. In the last 52-week, its share price fluctuated from $6.19 to 37.52.
Addex Therapeutics (Nasdaq: ADXN) is an emerging clinical-stage pharmaceutical company dedicated to developing and commercializing novel orally available small molecule drugs known as allosteric modulators neurological disorders. There are several advantages in using an allosteric modulator compared to using non-allosteric molecules. It may provide an improved therapeutic approach to conventional “orthosteric” small molecule or biological drugs.
Addex Therapeutics (Nasdaq: ADXN) has announced its affiliate Janssen Pharmaceuticals, part of the Johnson & Johnson Janssen Pharmaceutical Group, has been accepted for the FDA’s Phase 2a Principle Evidence Trial with the Selective Metabotropic Type 2 Allosteric Allostere Positive Receptor (PAM) JNJ-40411813 in patients with eMS, ADX71149.
Tim Dyer, CEO of Addex, said in a statement, IND’s approval for an MGlu2 epilepsy trial was excellent news in early 2021 and will be the first of three clinical trials that we plan to begin this year. In this complicated disease, there is an excellent possibility for an allosteric modulation strategy. We would like to appreciate the team involved for their ongoing help and move quickly to get this patient registration clinical trial-ready.
The multi-center research will test adjunctive JNJ-40411813 (ADX71149) effectiveness, protection, toleration, and pharmacokinetics in patients with concentrate seizures with a lower reaction to levetiracetam. The research’s primary objective is to test the effectiveness of JNJ-40411813 (ADX71149) using a time-to-event endpoint in conjunction with levetiracetam.
Scientists are making significant breakthroughs in the treatment and prevention of diseases previously unimaginable. Some experts call this the time of biotech. Biotech stocks may offer investors potentially huge returns during this golden age. Upbeat news led investors to believe as they pushed the stock price to above double the initial price this morning.