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Addex Therapeutics

DB:APE
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
APE
DB
CHF46M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Addex Therapeutics Ltd, a development-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule pharmaceutical products for the treatment of human health. The last earnings update was 208 days ago. More info.


Add to Portfolio Compare Print
  • Addex Therapeutics has significant price volatility in the past 3 months.
APE Share Price and Events
7 Day Returns
-4.8%
DB:APE
-0.1%
DE Biotechs
1%
DE Market
1 Year Returns
-43.9%
DB:APE
-7.4%
DE Biotechs
-5.6%
DE Market
APE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Addex Therapeutics (APE) -4.8% 3.1% -25.1% -43.9% -38.1% 2.3%
DE Biotechs -0.1% 6% -6.7% -7.4% 53.2% 11.6%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • APE underperformed the Biotechs industry which returned -7.4% over the past year.
  • APE underperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
APE
Industry
5yr Volatility vs Market

Value

 Is Addex Therapeutics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Addex Therapeutics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Addex Therapeutics.

DB:APE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:APE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.453 (1 + (1- 18%) (0%))
1.303
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.3
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.303 * 5.96%)
8%

Discounted Cash Flow Calculation for DB:APE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Addex Therapeutics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:APE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CHF, Millions) Source Present Value
Discounted (@ 8%)
2019 4.26 Est @ 72.51% 3.94
2020 6.42 Est @ 50.82% 5.50
2021 8.71 Est @ 35.64% 6.91
2022 10.89 Est @ 25.02% 8.00
2023 12.80 Est @ 17.58% 8.71
2024 14.38 Est @ 12.38% 9.07
2025 15.64 Est @ 8.73% 9.13
2026 16.61 Est @ 6.18% 8.97
2027 17.34 Est @ 4.39% 8.68
2028 17.88 Est @ 3.14% 8.29
Present value of next 10 years cash flows CHF77.20
DB:APE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CHF17.88 × (1 + 0.23%) ÷ (8% – 0.23%)
CHF230.71
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CHF230.71 ÷ (1 + 8%)10
CHF106.90
DB:APE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CHF77.20 + CHF106.90
CHF184.10
Equity Value per Share
(CHF)
= Total value / Shares Outstanding
= CHF184.10 / 26.37
CHF6.98
DB:APE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:APE represents 0.85057x of SWX:ADXN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.85057x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 6.98 x 0.85057
€5.94
Value per share (EUR) From above. €5.94
Current discount Discount to share price of €1.48
= -1 x (€1.48 - €5.94) / €5.94
75.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Addex Therapeutics is available for.
Intrinsic value
>50%
Share price is €1.48 vs Future cash flow value of €5.94
Current Discount Checks
For Addex Therapeutics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Addex Therapeutics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Addex Therapeutics's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Addex Therapeutics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Addex Therapeutics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:APE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in CHF CHF0.05
SWX:ADXN Share Price ** SWX (2019-04-24) in CHF CHF1.74
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.73x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Addex Therapeutics.

DB:APE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:ADXN Share Price ÷ EPS (both in CHF)

= 1.74 ÷ 0.05

33.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Addex Therapeutics is overvalued based on earnings compared to the Europe Biotechs industry average.
  • Addex Therapeutics is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Addex Therapeutics's expected growth come at a high price?
Raw Data
DB:APE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.3x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Addex Therapeutics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Addex Therapeutics's assets?
Raw Data
DB:APE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in CHF CHF1.60
SWX:ADXN Share Price * SWX (2019-04-24) in CHF CHF1.74
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.72x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:APE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:ADXN Share Price ÷ Book Value per Share (both in CHF)

= 1.74 ÷ 1.60

1.09x

* Primary Listing of Addex Therapeutics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Addex Therapeutics is good value based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Addex Therapeutics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Addex Therapeutics has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Addex Therapeutics expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Addex Therapeutics has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
47.6%
Expected Biotechs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Addex Therapeutics expected to grow at an attractive rate?
  • Unable to compare Addex Therapeutics's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Addex Therapeutics's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Addex Therapeutics's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:APE Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.6%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:APE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:APE Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:APE Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2018-06-30 6 2 1
2018-03-31 3 0 -1
2017-12-31 0 -2 -3
2017-09-30 0 -2 -3
2017-06-30 0 -2 -3
2017-03-31 0 -2 -3
2016-12-31 0 -3 -3
2016-09-30 1 -3 -3
2016-06-30 1 -3 -3
2016-03-31 1 -3 -4
2015-12-31 1 -3 -4
2015-09-30 1 -2 -4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Addex Therapeutics is high growth as no earnings estimate data is available.
  • Unable to determine if Addex Therapeutics is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:APE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Addex Therapeutics Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:APE Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:APE Past Financials Data
Date (Data in CHF Millions) EPS *
2018-06-30 0.05
2018-03-31 -0.08
2017-12-31 -0.25
2017-09-30 -0.27
2017-06-30 -0.28
2017-03-31 -0.28
2016-12-31 -0.28
2016-09-30 -0.27
2016-06-30 -0.26
2016-03-31 -0.32
2015-12-31 -0.39
2015-09-30 -0.37

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Addex Therapeutics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Addex Therapeutics is trading at Addex Therapeutics'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Addex Therapeutics's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Pharmaceuticals & Biotech companies here
  3. Addex Therapeutics's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Addex Therapeutics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Addex Therapeutics has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Addex Therapeutics performed over the past 5 years?

  • Addex Therapeutics's last earnings update was 208 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Addex Therapeutics's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Addex Therapeutics has delivered over 20% year on year earnings growth in the past 5 years.
  • Addex Therapeutics has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Addex Therapeutics has become profitable in the last year making it difficult to compare the Europe Biotechs industry average.
Earnings and Revenue History
Addex Therapeutics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Addex Therapeutics Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:APE Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 5.64 0.86 1.10 2.54
2018-03-31 3.07 -1.21 1.10 2.16
2017-12-31 0.50 -3.28 1.11 1.79
2017-09-30 0.43 -3.37 1.16 1.75
2017-06-30 0.36 -3.45 1.21 1.71
2017-03-31 0.38 -3.30 1.14 1.68
2016-12-31 0.41 -3.15 1.08 1.64
2016-09-30 0.70 -3.00 1.36 1.36
2016-06-30 0.99 -2.86 1.64 1.07
2016-03-31 0.89 -3.53 1.64 1.05
2015-12-31 0.79 -4.20 1.65 1.02
2015-09-30 0.59 -3.92 1.81 1.09
2015-06-30 0.40 -3.64 1.96 1.16
2015-03-31 0.35 -2.71 1.93 0.91
2014-12-31 0.31 -1.77 1.90 0.67
2014-09-30 0.15 -1.64 2.23 -0.34
2014-06-30 0.00 -1.50 2.56 -1.35
2014-03-31 0.07 -7.98 4.61 2.19
2013-12-31 0.14 -14.46 6.66 5.72
2013-09-30 0.14 -20.06 8.14 8.62
2013-06-30 0.14 -25.66 9.62 11.52
2013-03-31 0.13 -26.13 8.91 12.64
2012-12-31 0.12 -26.61 8.20 13.77
2012-09-30 0.41 -29.18 6.64 18.41
2012-06-30 0.69 -31.21 6.77 20.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Addex Therapeutics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Addex Therapeutics used its assets less efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • Addex Therapeutics has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Addex Therapeutics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Addex Therapeutics has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Addex Therapeutics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Addex Therapeutics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Addex Therapeutics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Addex Therapeutics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Addex Therapeutics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Addex Therapeutics has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Addex Therapeutics Company Filings, last reported 9 months ago.

DB:APE Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 42.27 0.00 43.57
2018-03-31 42.27 0.00 43.57
2017-12-31 1.34 0.00 2.59
2017-09-30 1.34 0.00 2.59
2017-06-30 2.38 0.00 3.57
2017-03-31 2.38 0.00 3.57
2016-12-31 0.22 0.00 1.42
2016-09-30 0.22 0.00 1.42
2016-06-30 1.18 0.00 2.25
2016-03-31 1.18 0.00 2.25
2015-12-31 1.66 0.00 2.63
2015-09-30 1.66 0.00 2.63
2015-06-30 2.74 0.00 3.58
2015-03-31 2.74 0.00 3.58
2014-12-31 2.35 0.00 1.98
2014-09-30 2.35 0.00 1.98
2014-06-30 2.05 0.00 2.09
2014-03-31 2.05 0.00 2.09
2013-12-31 3.03 0.00 2.91
2013-09-30 3.03 0.00 2.91
2013-06-30 2.88 0.00 4.48
2013-03-31 2.88 0.00 4.48
2012-12-31 14.32 0.00 15.26
2012-09-30 16.29 0.00 15.26
2012-06-30 19.48 0.00 20.24
  • Addex Therapeutics has no debt.
  • Addex Therapeutics has not taken on any debt in the past 5 years.
  • Addex Therapeutics has no debt, it does not need to be covered by operating cash flow.
  • Addex Therapeutics has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Addex Therapeutics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Addex Therapeutics has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Addex Therapeutics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Addex Therapeutics dividends.
If you bought €2,000 of Addex Therapeutics shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Addex Therapeutics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Addex Therapeutics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:APE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:APE Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Addex Therapeutics has not reported any payouts.
  • Unable to verify if Addex Therapeutics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Addex Therapeutics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Addex Therapeutics has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Addex Therapeutics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Addex Therapeutics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Addex Therapeutics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Addex Therapeutics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tim Dyer
COMPENSATION CHF0
AGE 50
TENURE AS CEO 5.8 years
CEO Bio

Mr. Timothy Dyer, also known as Tim, has been Chief Executive Officer at Addex Therapeutics Ltd. since June 01, 2013. Mr. Dyer co-founded Addex Therapeutics Ltd. (also known as Addex Pharmaceuticals Ltd.) in 2002 and served as its Consultant since June 1, 2013. Mr. Dyer served as Chief Financial Officer of Addex Therapeutics Ltd. since 2002 until June 1, 2013. Mr. Dyer served as the Head of Human Resources and Business Development of Addex Therapeutics Ltd. from 2002 to April 2008. He spent the next two years gaining experience in due diligence and corporate finance, both in the UK and Eastern Europe. He has more than 10 years’ experience with PricewaterhouseCoopers in the UK, Eastern Europe and Switzerland where he assisted a number of clients with both private and public capital raising, due diligence and valuation projects. He was a Member of PwC's start-up/private equity business development group where he was responsible for PwC's service delivery to a number of biopharmaceutical companies. He was a Member of PwC's International Accounting Standards (IAS) technical group and was responsible for a number of client related IAS implementation projects. He joined Price Waterhouse in the UK. In 1996, he relocated to Switzerland with Price Waterhouse to focus on International clients. He has been a Director of Addex Therapeutics Ltd. since June 2015. He serves as a Member of Advisory Board at City Windmills Ltd. He served as a Director of Abionic SA. He received a UK Chartered Accountant certificate in 1994. Mr. Dyer graduated from the University of Southampton with a degree in Biochemistry and Pharmacology.

CEO Compensation
  • Insufficient data for Tim to compare compensation growth.
  • Tim's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Addex Therapeutics management team in years:

4.9
Average Tenure
59
Average Age
  • The tenure for the Addex Therapeutics management team is about average.
Management Team

Tim Dyer

TITLE
Co-Founder
AGE
50
TENURE
5.8 yrs

Roger Mills

TITLE
Chief Medical Officer & Director
AGE
61
TENURE
2.4 yrs

Jean-Philippe Rocher

TITLE
Head of Discovery - Chemistry
AGE
59
TENURE
0.8 yrs

Robert Lütjens

TITLE
Head of Discovery – Biology
AGE
50
TENURE
3.9 yrs

Bruno Bournique

TITLE
Head of Absorption
TENURE
11.7 yrs

Werner Henrichi

TITLE
Consultant
COMPENSATION
CHF11K
AGE
75
TENURE
10 yrs
Board of Directors Tenure

Average tenure and age of the Addex Therapeutics board of directors in years:

3.8
Average Tenure
65
Average Age
  • The tenure for the Addex Therapeutics board of directors is about average.
Board of Directors

Vincent Lawton

TITLE
Chairman of the Board
COMPENSATION
CHF225K
AGE
69
TENURE
4.8 yrs

Tim Dyer

TITLE
Co-Founder
AGE
50
TENURE
4.3 yrs

Roger Mills

TITLE
Chief Medical Officer & Director
AGE
61
TENURE
2.3 yrs

George Koob

TITLE
Chairman of Scientific Advisory Board

Barbara Mason

TITLE
Member of Scientific Advisory Board

P. Conn

TITLE
Member of Scientific Advisory Board

Bernhard Bettler

TITLE
Member of Scientific Advisory Board

Ray Hill

TITLE
Director
COMPENSATION
CHF137K
AGE
73
TENURE
3.8 yrs

Jean-Philippe Pin

TITLE
Scientific Advisory Board Member

Isaac Manke

TITLE
Director
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Addex Therapeutics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Addex Therapeutics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Addex Therapeutics Ltd, a development-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule pharmaceutical products for the treatment of human health. Its lead programs include Dipraglurant for the treatment of Parkinson’s disease levodopa-induced dyskinesia and dystonia; ADX71149 for epilepsy and an undisclosed central nervous system disorders; and ADX71441 for the treatment of Charcot-Marie-Tooth type 1A neuropathy and addiction. The company focuses on the discovery of oral small molecule allosteric modulators of G-protein coupled receptors. It has license and collaboration agreement with Janssen Pharmaceuticals Inc. to develop mGluR2PAM compounds for the treatment of human health. The company was formerly known as Addex Pharmaceuticals Ltd and changed its name to Addex Therapeutics Ltd in March 2012. Addex Therapeutics Ltd was founded in 2002 and is headquartered in Geneva, Switzerland.

Details
Name: Addex Therapeutics Ltd
APE
Exchange: DB
Founded: 2002
CHF40,243,471
26,371,848
Website: http://www.addextherapeutics.com
Address: Addex Therapeutics Ltd
Chemin des Aulx 12,
Plan-les-Ouates,
Geneva,
Geneva, 1228,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX ADXN Registered Shares SIX Swiss Exchange CH CHF 22. May 2007
OTCPK ADDX.F Registered Shares Pink Sheets LLC US USD 22. May 2007
DB APE Registered Shares Deutsche Boerse AG DE EUR 22. May 2007
LSE 0QNV Registered Shares London Stock Exchange GB CHF 22. May 2007
BATS-CHIXE ADXNZ Registered Shares BATS 'Chi-X Europe' GB CHF 22. May 2007
Number of employees
Current staff
Staff numbers
8
Addex Therapeutics employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:25
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2018/04/30
Last earnings filing: 2018/09/28
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.