Addex Therapeutics Ltd

AI-generated fair value estimate for this company.

Method: Net cash floor plus partnered-pipeline optionality: cash of roughly CHF 0.9 million at March 31, 2026 plus about $2.8 million raised via an at-the-market offering in August 2026, divided by an estimated 1.19 million ADS (119.32 million ordinary shares at an approximate 100:1 ADS ratio), giving a cash floor near $2.10-2.90 per ADS; added modest value for out-licensed program optionality (e.g. the Indivior dipraglurant royalty/milestone rights) to arrive at $2.80 per ADS.

Reasoning: Addex is a going-concern-flagged, pre-revenue clinical-stage biotech with minimal cash and negative operating cash flow, so a standard free-cash-flow DCF is not meaningful; value is better approximated as liquid assets plus a discounted option value on partnered pipeline assets.