Operator
Good day, and thank you for standing by. Welcome to the Addex Therapeutics Half Year 2025 Financial Results, Corporate Update Conference Call and Webcast. [Operator Instructions] Please note that today’s conference is being recorded.
I would now like to turn the conference over to your speaker, Tim Dyer, CEO. Please go ahead, sir.
Timothy Dyer
Co-Founder, CEO & Director
Thank you. Hello, everyone. I would like to thank you all for attending our half year 2025 financial results conference call. I’m here with Mikhail Kalinichev, who will provide an update on our R&D programs. I draw your attention to the press release and the financial statements issued yesterday, which are available on the website.
I also draw your attention to our disclaimer. We will be making certain forward-looking statements that are based on the knowledge we have today.
I will start this conference call by giving a quick overview of our recent activities and achievements before reviewing our pipeline. I will then hand over to Misha, who will review in more detail our GABAB PAM preclinical program for cough. I will then review our financial results. Following that, we will open the call for questions.
The first half of 2025 has seen several important achievements across our pipeline. We’ve made excellent progress in our GABAB PAM program with our partner, Indivior, successfully completing IND-enabling studies with their selective drug candidate for substance use disorders. As a reminder, under the terms of the agreement, Addex is eligible for payments of up to USD 330 million on successful
