Addex shares suspended after lead drug safety fears

Shares in Swiss biotech Addex were suspended from trade at request of the company on Tuesday after it reported liver problems in a study of its lead drug candidate, denting hopes for a partner deal. The Swiss stock exchange said Addex had been suspended from trading for the day, after the stock had been indicated to fall some 30 per cent at the open. "These safety concerns are likely to deter potential partners, with a deal being crucial for commercial success," said Jefferies analyst Peter Welford. Routine safety monitoring of Addex's Phase IIb trial revealed a higher incidence of abnormalities of liver function than expected, the group said late on Monday. Analysts have said ADX10059 could net sales of more than 1 billion dollars a year, but the latest news from the clinic raises serious questions over its path to market.