Nicox Reports Rise in Net Revenue for 2Q 2019

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SOPHIA ANTIPOLIS, France—International ophthalmology company Nicox (Euronext Paris: FR0013018124, COX) reported net revenue of €5.2 million in the second quarter ending June 30, 2019 versus €0.2 million in the second quarter of 2018. The Nicox Group had cash and cash equivalents of €17.3 million as compared with €23.5 million at March 31, 2019 and €22.1 million as of Dec. 31, 2018. These cash and cash equivalents do not include the €2 million upfront payment from Ocumension nor the $3 million milestone payment from Eyevance received in July, the company said.

“Completion of enrollment in the NCX 470 glaucoma trial was a major step in delivering on the strategy for Nicox and keeps us on track for reporting the results of this study in early Q4, along with those of the NCX 4251 blepharitis trial later in the quarter,” said Michele Garufi, chairman and CEO of Nicox.

“In preparation for the next steps with these two programs, we are strengthening the development function and have hired Dr. José Boyer into the new position of vice president of clinical development. Our strategic business development activities continue to be fruitful with the recent NCX 4251 licensing deal in China consolidating our partnership there with Ocumension and we are expanding our global licensing efforts outside the U.S. and Europe in order to optimize the value of our portfolio.”

Ocumension is a drug developed by Nicox to treat acute blepharitis.