|Nicox: Second Quarter 2019 Business Update and Financial Highlights|
July 17, 2019– release at 7:30 am CET
Sophia Antipolis, France
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today provided Q2 2019 operational highlights, revenue and cash position for Nicox and its subsidiaries (the “Nicox Group”), as well as key upcoming milestones.
Michele Garufi, Chairman and Chief Executive Officer of Nicox, said, “Completion of enrollment in the NCX 470 glaucoma trial was a major step in delivering on the strategy for Nicox and keeps us on track for reporting the results of this study in early Q4, along with those of the NCX 4251 blepharitis trial later in the quarter. In preparation for the next steps with these two programs, we are strengthening the development function and have hired Dr. José Boyer into the new position of Vice President of Clinical Development. Our strategic business development activities continue to be fruitful with the recent NCX 4251 licensing deal in China consolidating our partnership there with Ocumension and we are expanding our global licensing efforts outside the US and Europe in order to optimize the value of our portfolio.”
Key Upcoming Milestones
We appointed José L. Boyer, Ph.D., to the newly-created position of Vice President of Clinical Development, effective June 10, 2019. In this position, Dr. Boyer will be responsible for leading our clinical development activities, and will report to Tomas Navratil, Ph.D., Executive Vice President, Head of Development of Nicox. Dr. Boyer has more than 30 years of experience in academic research and drug development in the pharmaceutical industry including senior leadership roles in ophthalmology development at Parion Biosciences and Inspire Pharmaceuticals.
Second Quarter 2019 Financial Highlights
As of June 30, 2019, the Nicox Group had cash and cash equivalents of €17.3 million as compared with €23.5 million at March 31, 2019 and €22.1 million at end December 31, 2018. These cash and cash equivalents do not include the €2 million upfront payment from Ocumension nor the $3 million milestone payment from Eyevance received in July. Net revenue2 for the second quarter of 2019 was €5.2 million versus €0.2 million in the second quarter of 2018.
Only figures at 31 December 2018 are audited. All figures of this press release are non-audited.
|Nicox S.A. is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. By leveraging our proprietary expertise in nitric oxide (NO) donation and other technologies, we are developing an extensive portfolio of novel product candidates that target multiple ophthalmic conditions, including glaucoma. Our portfolio has three programs in development including NCX 470, a novel, second-generation NO-donating bimatoprost analog, for intraocular pressure lowering, based on our proprietary NO-donating research platform and NCX 4251, a proprietary formulation of the well-established molecule fluticasone, for acute exacerbations of blepharitis. Our research activities are focused on novel future generation NO-donors including NO-donating phosphodiesterase-5 (PDE5) inhibitors and NO-donating soluble guanylate cyclase (sGC) stimulators (in partnership with Cyclerion). In addition, we have two ophthalmology assets that have been approved by the U.S. Food and Drug Administration (FDA); VYZULTA® (latanoprostene bunod ophthalmic solution), 0.024%, exclusively licensed worldwide to Bausch + Lomb, a Bausch Health Companies Inc. company, and commercialized in the U.S. by Bausch + Lomb since December 2017, as well as ZERVIATE™ (cetirizine ophthalmic solution), 0.24%, exclusively licensed in the U.S. to Eyevance Pharmaceuticals, LLC. |
Nicox is headquartered in Sophia Antipolis, France, is listed on Euronext Paris (Compartment B: Mid Caps; Ticker symbol: COX) and is part of the CAC Healthcare, CAC Pharma & Bio and Next 150 indexes.
For more information on Nicox, its products or pipeline, please visit: www.nicox.com.
|Bryan, Garnier & Co Hugo Solvet Paris, France |
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.|
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|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 the 4th chapter of the ‘Document de référence, rapport financier annuel et rapport de gestion 2018’ filed with the French Autorité des Marchés Financiers (AMF) on March 6, 2019 which are available on Nicox’s website (www.nicox.com).
|Nicox S.A. |
Bât D, 2405 route des Dolines
CS 10313, Sophia Antipolis
06560 Valbonne, France
T +33 (0)4 97 24 53 00
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