Swiss Stock Exchange warns Addex

The supervisory authority of the Swiss Stock Exchange, SIX Exchange Regulation, has issued a warning against Addex Therapeutics in relation to the financial statements of 2014 and the first half of 2015, responsible for not having complied with the IFRS procedures.

In a statement today, that the Geneva-biotech group failed to disclose an unfavorable decision of the French justice that has had tax consequences simply informed about the annual report. The first half of last year accounts instead contains a artimetico error on the income statement while the net loss is correct.

Since it is not of serious violations and whereas Addex has not been sanctioned in the past three years, the supervisory board is limited to issue a warning. The company, which has accepted the sanction notice, corrected the error,  in the annual report 2015, while the second one will be corrected in the first half 2016.