Nicox Provides Second Quarter 2023 Financial and Business Highlights
| Press Release | ||
| Nicox Provides Second Quarter 2023 Financial and Business Highlights | ||
July 19, 2023 – release at 7:30 am CET Sophia Antipolis, France Nicox SA (Euronext Paris: FR0013018124, ALCOX), an international ophthalmology company, today provided financial and business highlights for the second quarter 2023 for Nicox SA and its subsidiaries (the “Nicox Group”). “We are pleased to be able to report the continued progress in recruitment in the Denali Phase 3 trial, which remains on track for results expected in 2025, and also to have been able to announce the over $300 million annual global net sales potential for NCX 470, along with the additional Mont Blanc trial sub-group analysis, showing superiority over latanoprost in certain patient groups, presented by leading ophthalmologists at the World Glaucoma Congress a few weeks ago.” said Andreas Segerros, Chief Executive Officer of Nicox. “In the last few months, we got the good news that our Chinese partner, Ocumension Therapeutics, received Priority Review Status for the ZERVIATE New Drug Application in China. We look forward to the expected launch of this in 2024, bringing an additional revenue stream to Nicox. Our development team remains focused on delivering the Denali trial, and we continue to review opportunities to expand our pipeline with additional programs.” Second Quarter 2023 Financial Highlights Net revenue1 for the second quarter of 2023 was €0.9 million (consisting entirely of net royalty payments). This compares to net revenue for the second quarter of 2022 of €0.7 million (consisting entirely of net royalty payments). As of June 30, 2023, the Nicox Group had cash and cash equivalents of €19.0 million as compared with €21.4 million as of March 31, 2023 and €27.7 million as of December 31, 2022. The Company estimates it is financed until June 2024, based exclusively on the development of NCX 470. The Company is evaluating all possible options to extend the company’s cash runway, including through business development and licensing activities and potential additional financing associated with acquiring new pipeline assets. As of June 30, 2023, the Nicox Group had financial debt of € 21.6 million, consisting of (i) €18.8 |