Sortie de son activité commerciale européenne - ACHAT - OC 13€ (vs 12,3€)
La biotech française annonçait hier matin céder sa division commerciale européenne au fonds d’investissement GHO Capital. L’opération serait valorisée à 26m€ au total. Dans ce cadre-là , NICOX devrait recevoir un paiement initial de 9m€ suivi de milestones potentiels. De plus la société aura une participation minoritaire dans la nouvelle structure d’un montant de 12m€ sous forme d’actions et d’obligations. Annoncé il y a quelques mois, NICOX réalise aujourd'hui un revirement stratégique dans un but de se focaliser sur sa R&D. Nous attendons à court terme la revue de Vesneo (glaucome) aux Etats-Unis le 26 juillet prochain ainsi que la PDUFA date d’AC170 (prurit oculaire) le 18 octobre 2016. Dans l’optique de ces 2 catalyseurs, nous maintenons notre recommandation à ACHAT et ajustons notre objectif qui passe de 12,3€ à 13€.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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