Report
Dylan Van Haaften

NICOX: Financed into NCX470 readouts for Montblanc and Denali | BUY | EUR11 VS. EUR17.5 (+320%)

NICOX - BUY | EUR11 VS. EUR17.5 (+320%)
Financed into NCX470 readouts for Montblanc and Denali

Cash reach until 4Q ‘23e puts NCX470 Mont Blanc readout within reach
Model update, TP to EUR 12 (from EUR 17.5) retain Buy
Underlying
Nicox SA

Nicox is engaged in the ophthalmic market. Co. markets several ophthalmic products in the United States and Europe with a portfolio of therapies and diagnostic tools that can help people to enhance their sight. Co. has developed naproxcinod, the first member of the Cyclooxygenase-Inhibiting Nitric Oxide-Donating (CINOD) class of anti-inflammatory agents, for the treatment of the signs and symptoms of osteoarthritis. Beyond naproxcinod, Co. has a pipeline containing multiple nitric oxide-donating NCEs, which are in clinical development with partners for the treatment of diseases, such as hypertension, glaucoma and Chronic Obstructive Pulmonary Disease (COPD).

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Dylan Van Haaften

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