Financial News
Nicox Provides Second Quarter 2024 Update
July 18, 2024 at 01:30 AM EDT
| Press Release | ||
| Nicox Provides Second Quarter 2024 Update | ||
Sophia Antipolis, France Nicox SA (Euronext Growth Paris: FR0013018124, ALCOX), an international ophthalmology company, today provided the revenue and cash position for Nicox SA and its subsidiaries (the “Nicox Group”) for the second quarter of 2024 and provided an update on key activities. “Nicox continued to make good progress in the second quarter of 2024, with a successful equity raise of €3.3 million, adding to the €3 million upfront received from our licensing deal for NCX 470 with Kowa in Japan in February. Benefiting from the support of our longstanding Chinese partner, Ocumension Therapeutics, now our largest shareholder, the equity raise provides financing for the continued development of NCX 470 and extends our cash runway. Nicox now has a lean structure which is focused on NCX 470 and completing the Denali Phase 3 trial. With randomization approaching the 95% level, we remain on track for topline results in the second half of 2025. Our strengthened financial position allows us flexibility to continue exploring strategic options for Nicox and to pursue business development discussions concerning NCX 470 and other drug candidates.” said Gavin Spencer, Chief Executive Officer of Nicox. “We are maintaining the momentum into this third quarter of 2024 with the appointment of our new Board members, Damian Marron, who has become Chair of the Board of Directors, and Marc Le Bozec, who both bring valuable, complementary perspectives and expertise to our strategic discussions.” Revenue, Cash Position for the Nicox Group for the Second Quarter 2024
Corporate Update
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| About Nicox | ||
| Nicox SA is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. Nicox’s lead program in clinical development is NCX 470 (bimatoprost grenod), a novel nitric oxide-donating bimatoprost eye drop, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension. Nicox generates revenue from VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, and ZERVIATE® in allergic conjunctivitis, licensed in multiple geographies, including to Harrow, Inc. in the U.S., and Ocumension Therapeutics in the Chinese and in the majority of Southeast Asian markets. Nicox, headquartered in Sophia Antipolis, France, is listed on Euronext Growth Paris (Ticker symbol: ALCOX) and is part of the CAC Healthcare index. For more information www.nicox.com | ||
| Analyst coverage | ||
H.C. Wainwright & Co Yi Chen New York, U.S. | ||
| The views expressed by analysts in their coverage of Nicox are those of the author and do not reflect the views of Nicox. Additionally, the information contained in their reports may not be correct or current. Nicox disavows any obligation to correct or to update the information contained in analyst reports. | ||
| Contacts | ||
| Nicox Gavin Spencer Chief Executive Officer T +33 (0)4 97 24 53 00 communications@nicox.com | Media / Investors Sophie Baumont Cohesion Bureau +33 6 27 74 74 49 sophie.baumont@cohesionbureau.com | |
| Disclaimer | ||
| The information contained in this document may be modified without prior notice. This information includes forward-looking statements. Such forward-looking statements are not guarantees of future performance. These statements are based on current expectations or beliefs of the management of Nicox S.A. and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Nicox S.A. and its affiliates, directors, officers, employees, advisers or agents, do not undertake, nor do they have any obligation, to provide updates or to revise any forward-looking statements. Risks factors which are likely to have a material effect on Nicox’s business are presented in section 3 of the “Rapport Annuel 2023” which is available on Nicox’s website (www.nicox.com). Finally, this press release may be drafted in the French and English languages. If both versions are interpreted differently, the French language version shall prevail. | ||
| Nicox S.A. Sundesk Sophia Antipolis, Bâtiment C, Emerald Square, Rue Evariste Galois, 06410 Biot, France T +33 (0)4 97 24 53 00 | ||
1 Net revenue consists of revenue from collaborations less royalty payments
2 Intra-ocular pressure
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