|Nicox Announces Third Quarter 2020 Business Update and Financial Highlights|
October 20, 2020 – release at 7:30 am CET
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced a business update and financial highlights for Q3 2020 for Nicox SA and its subsidiaries (the “Nicox Group”), as well as an update on key expected milestones.
Key Expected Upcoming Milestones
·NCX 470 Mont Blanc Phase 3 clinical trial: Top-line results from Mont Blanc, the first Phase 3 trial of NCX 470 for lowering of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension are currently expected in Q4 2021. Mont Blanc is a 3-month safety and efficacy evaluation of NCX 470 ophthalmic solution, 0.1%, against latanoprost ophthalmic solution, 0.005%.
·Nitric oxide (NO)-donating phosphodiesterase-5 (PDE5) inhibitors for IOP lowering: IND-track candidate expected to be announced shortly.
We continue to closely watch the spread and impact of the COVID-19 pandemic. We do not currently anticipate delays in our clinical timelines but we are monitoring the situation and will provide an update when needed.
Third Quarter 2020 and Recent Operational Highlights
Third Quarter 2020 Financial Highlights
As of September 30, 2020, the Nicox Group had cash and cash equivalents of €42.2 million as compared with €28.0 million at December 31, 2019 and €45.5 million at June 30, 2020 (including €5 million from the divestment of our VISUfarma shareholding in July). Net revenue3 for the third quarter of 2020 was €0.8 million (consisting of ZERVIATE and VYZULTA royalties and upfront payments from ITROM), compared to €0.5 million (consisting entirely of royalty payments) for the third quarter of 2019.
As of September 30, 2020, the Nicox Group had financial debt of €19.2 million in the form of a bond financing agreement with Kreos Capital signed in January 2019 and a €2 million credit agreement, granted by Société Générale and LCL and guaranteed by the French State, granted in August 2020 in the context of the COVID-19 pandemic.
Only the figure related to the cash position of the Nicox Group as of December 31, 2019 is audited; all other 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. Nicox’s lead program in clinical development is NCX 470, a novel, second-generation nitric oxide-donating bimatoprost analog, for lowering intraocular pressure in patients with glaucoma. The company is also developing NCX 4251, a proprietary formulation of fluticasone, for acute exacerbations of blepharitis. Nicox generates revenue from VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch & Lomb, and ZERVIATE™ in allergic conjunctivitis, licensed in multiple geographies, including to Eyevance Pharmaceuticals, LLC, in the U.S. and Ocumension Therapeutics in the Chinese and in the majority of South East Asian markets.
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 Victor Floc’h Paris, France
|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.|
Executive Vice President, Chief Business Officer
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LifeSci Advisors, LLC
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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 3rd chapter of the ‘Document d’enregistrement universel, rapport financier annuel et rapport de gestion 2019’ filed with the French Autorité des Marchés Financiers (AMF) on March 6, 2020 which are available on Nicox’s website (www.nicox.com).
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