|Nicox First Half 2021 Financial Results and Business Update|
Sophia Antipolis, France
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today reported the financial results for Nicox SA and its subsidiaries (the “Nicox Group”) for the six months ending June 30, 2021 and provided an update on recent events as well as progress on key programs.
First Half 2021 Financial Highlights
Net revenue1 for the first half of 2021 was €1.3 million (including €1.2 million in royalty revenue) versus €2.4 million (including €1.4 million in royalty revenue) for the first half of 2020. Operating expenses for the first half of 2021 were €13.3 million compared to €10.2 million for the first half of 2020.
|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 nitric oxide-donating prostaglandin 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
Cantor Fitzgerald Louise Chen New York, U.S.
Edison Investment Research Pooya Hemami London, UK
H.C. Wainwright & Co Yi Chen New York, U.S.
Kepler Cheuvreux Damien Choplain 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
& Head of Corporate Development
T +33 (0)4 97 24 53 00
|Investors & Media|
United States & Europe
LifeSci Advisors, LLC
Sandya von der Weid
T +41 78 680 05 38
LifeSci Advisors, LLC
T +33 (0)6 27 74 74 49
|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 2020’ filed with the French Autorité des Marchés Financiers (AMF) on March 1, 2021 which are available on Nicox’s website (www.nicox.com).
Bât D, 2405 route des Dolines
CS 10313, Sophia Antipolis
06560 Valbonne, France
T +33 (0)4 97 24 53 00
F +33 (0)4 97 24 53 99
Interim Consolidated statement of Comprehensive Income
|6 Months period ending June 30,|
|(in thousands of € except for per share data)|
|Revenues from collaborations||2,043||3,271|
|Net Profit from collaborations||1,322||2,380|
|Research and development expenditures||(10,000)||(6,533)|
|Operating loss before amortization of intangible assets||(11,565)||(6,983)|
|Amortization of intangible assets||(587)||(645)|
|Net financial income/(expense)||415||(6,953)|
|Loss before tax||(11,737)||(14,581)|
|Income tax (expense) / benefit||24||(26)|
|Net loss for the period||(11,713)||(14,607)|
(1) Included €6.1 million of expenses without cash impact related to the impairment of VISUfarma assets sold in July 2020.
Interim consolidated statement of financial position
|As of June 30, 2021||As of Dec. 31, 2020|
|(in thousands of €)|
|Property, plant and equipment||1,029||1,166|
|Non-current financial assets||69||68|
|Total non-current assets||91,887||89,745|
|Government grants receivables||1,130||736|
|Other current assets||317||237|
|Cash and cash equivalents||36,528||47,195|
|Total current assets||41,467||52,521|
|EQUITY AND LIABILITIES|
|Cumulative translation adjustement||4,597||2,959|
|Non-current financial liabilities||16,031||13,429|
|Deferred tax liabilities||12,255||11,868|
|Non current provisions||819||754|
|Total non-current liabilities||29,105||26,051|
|Current financial liabilities||2,917||5,646|
|Other current liabilities||1,470||2,163|
|Total current liabilities||12,933||15,405|
|TOTAL LIABILITIES AND EQUITY||133,354||142,266|
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