Addex Rises on Positive Rodent Experiment Results: Zurich Mover
Addex Therapeutics Ltd. (ADXN), a Swiss biotechnology company, rose to the highest level in two weeks after saying an experimental molecule influenced growth-hormone concentrations in rodents.
Addex advanced as much as 3.8 percent to 6.80 Swiss francs in Zurich, the highest price since May 7, and was up 3.1 percent at 12:14 p.m. local time, giving the Geneva-based company a market value of 60.5 million Swiss francs ($62.4 million).
Results show that the ADX71441 molecule, depending on its dosage, leads to changes in the concentration of growth hormones, the Geneva-based company said in a statement. The development could provide “an understanding of the therapeutic potential of ADX71441,” Chief Scientific Officer Graham Dixon said in the statement.
Growth-hormone concentrations have been demonstrated to have an effect on anxiety, pain, overactive bladder and alcohol addiction in pre-clinical models, Addex said.
To contact the reporter on this story: Carolyn Bandel in Zurich at firstname.lastname@example.org
To contact the editor responsible for this story: Frank Connelly at email@example.com