|Nicox Provides Fourth Quarter 2021 Business and Financial Highlights|
January 21, 2022 – release at 7:30 am CET
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, provided business and financial highlights for fourth quarter 2021 for Nicox SA and its subsidiaries (the “Nicox Group”) as well as key expected value-inflection milestones today.
Fourth Quarter 2021 Financial Highlights
As of December 31, 2021, the Nicox Group had cash and cash equivalents of €41.9 million as compared with €32.7 million at September 30, 2021 and €47.2 million at December 31, 2020. The Company is financed until fourth quarter 2023, financing development of NCX 470 only. Net revenue1 for the fourth quarter of 2021 was €3.5 million (€0.5 million of net royalty payments, €3.0 million non-cash accounting adjustment initially recorded as deferred income following a licensing payment received from Ocumension in March 2020). Net revenue1 for the fourth quarter of 2020 was €5.8 million (€0.3 million royalty payments, €5.5 million license payments).
Fourth quarter revenue for VYZULTA in 2021 was impacted by additional rebates due to year-end true-up calculations. In addition, Access and Medicare Part D coverage for VYZULTA expanded in 2021, which increases the level of rebates. Despite this, prescriptions for VYZULTA grew by 32% in 2021 compared to 2020. We believe the improved access will better position VYZULTA for growth.
As of December 31, 2021, the Nicox Group had financial debt of €18.3 million consisting of €16.3 million in the form of a bond financing agreement with Kreos Capital signed in January 2019 and a €2.0 million credit agreement guaranteed by the French State in August 2020 in the context of the COVID-19 pandemic.
Fourth Quarter 2021 and Recent Operational Highlights
Key expected milestones
Only the figure related to the cash position of the Nicox Group as of December 31, 2020 is audited; all other financial figures in this press release are non-audited and subject to change on completion of audit procedures.
|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 Dylan van Haaften 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
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|Investors & Media
United States & Europe
LifeSci Advisors, LLC
Sandya von der Weid
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|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 and in the 2nd chapter of the amendment to the “Document d’Enregistrement Universel, rapport financier annuel et rapport de gestion 2020” filed with the AMF on December 9, 2021 which are available on Nicox’s website (www.nicox.com).
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