Nicox - Adjusting NCX-470 launch timing estimates
Nicox reported H121 results that were largely in line with our expectations on a cash flow basis and provided an update on its ongoing Phase III programme for NCX-470 for the treatment of elevated intraocular pressure (IOP) in patients with glaucoma or ocular hypertension. The company now expects to report top-line data for the Mont Blanc trial in Q123, versus Q222 previously, primarily due to continuing recruitment impacts caused by the COVID-19 pandemic. To account for this guidance and allow additional latitude or flexibility with regards to the confirmatory Denali study and post-study submission and review steps, we have pushed back our NCX-470 US launch projection to H225 (from H224 previously), resulting in an rNPV of €283m (vs €318m previously).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).
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