Nicox widens its losses in the first half, funded activity until the fourth quarter of 2023

(AOF) – Nicox Nicox recorded a net loss of 17 million euros for the first six months of 2022 against a net loss of 11.7 million during the same period of 2021. The net loss of the first half of 2022 includes 11.1 million non-cash and non-recurring items, due to the decision to seek a partner to pursue the development of NCX 4251 (dry eye treatment) in the United States.

Net income was 1.4 million (including 1.3 million in royalty payments) compared to 1.3 million for the first half of 2021 (including 1.2 million in royalty payments).

As of June 30, 2022, the Nicox group had a financial debt of 20.6 million, including 18.6 million in bond financing granted by Kreos Capital in January 2019 and loans guaranteed by the State for a total amount of 2 million granted in August 2020 in the context of the Covid-19 pandemic.

Also on June 30, Nicox had cash of 31.6 million compared to 35.1 million on March 31, 2022.

The company estimates that it will be financed through the fourth quarter of 2023, based on the development of NCX 470 (glaucoma treatment) only and assuming the extension of the period during which only the interest on the existing debt of Kreos will be paid.

NCX 470 is Nicox’s drug candidate in clinical development, it is a new, potentially best-in-class nitric oxide (NO)-donating prostaglandin eye drop analog, currently in phase 3 clinical development for pressure reduction intraocular pressure (IOP) in patients. with open-angle glaucoma or ocular hypertension.

The main results of the first phase 3 study, Mont Blanc, are expected in November. Positive results from Dolomiti’s Phase 2 clinical study of NCX 470 were reported in October 2019.

LEXICON

Clinical trials (Phase I, II, III)

Phase I: small-scale testing of the molecule on humans to assess its safety, tolerability, metabolic and pharmacological properties Phase II: evaluation of tolerance and efficacy in several hundred patients to identify the effects secondary Phase III: evaluation of the overall benefit/risk ratio with several thousand patients.

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