Brief: Nicox Q4 Net Revenue Down At 3.5 Million Euros

Nicox SA

21/01/2022 06:40

Jan 21 (Reuters) - Nicox SA  NCOX.PA :
    * NICOX PROVIDES Q4 2021 BUSINESS AND FINANCIAL HIGHLIGHTS
    * MONT BLANC PHASE 3 CLINICAL TRIAL OF NCX 470 IN GLAUCOMA
PROGRESSING RAPIDLY WITH RECRUITMENT NOW AT 90%
    * AS OF DECEMBER 31, 2021, NICOX GROUP HAD CASH AND CASH
EQUIVALENTS OF EUR 41.9 MILLION AS COMPARED WITH EUR 32.7
MILLION AT SEPTEMBER 30, 2021 AND EUR 47.2 MILLION AT DECEMBER
31, 2020
    * NET REVENUE1 FOR Q4 OF 2021 WAS EUR 3.5 MILLION (EUR 0.5
MILLION
OF NET ROYALTY PAYMENTS, EUR 3.0 MILLION NON-CASH ACCOUNTING
ADJUSTMENT INITIALLY RECORDED AS DEFERRED INCOME FOLLOWING A
LICENSING PAYMENT RECEIVED FROM OCUMENSION IN MARCH 2020)
    * COMPANY IS FINANCED UNTIL Q4 2023, FINANCING DEVELOPMENT
OF NCX
470 ONLY
    * Q4 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 LEVEL OF REBATES
    * DESPITE THIS, PRESCRIPTIONS FOR VYZULTA GREW BY 32% IN
2021
COMPARED TO 2020
    * WE BELIEVE IMPROVED ACCESS WILL BETTER POSITION VYZULTA
FOR
GROWTH
    * AS OF DECEMBER 31, 2021, NICOX GROUP HAD FINANCIAL DEBT OF
EUR
18.3 MILLION CONSISTING OF EUR 16.3 MILLION IN FORM OF A BOND
FINANCING AGREEMENT WITH KREOS CAPITAL SIGNED IN JANUARY 2019
AND A EUR 2.0 MILLION CREDIT AGREEMENT GUARANTEED BY FRENCH
STATE IN AUGUST 2020 IN CONTEXT OF COVID-19 PANDEMIC
    * MONT BLANC PHASE 3 CLINICAL TRIAL OF NCX 470 IN GLAUCOMA
PROGRESSING RAPIDLY WITH RECRUITMENTNOW AT 90%
    * VYZULTA® AND ZERVIATE®Q4 U.S. PRESCRIPTIONS INCREASED BY
39% AND
129%, RESPECTIVELY, IN 2021 VS.2020
    * NCX 470 IN GLAUCOMA: RESULTS OF THE MONT BLANC AND DENALI
PHASE
3 CLINICAL TRIALS IN THE FIRST QUARTER OF 2023 AND BY THE END OF
2023 RESPECTIVELY
    * NCX 4251 IN THE TREATMENT OF OCULAR SURFACE DISEASE: A
MEETING
WITH THE U.S. FOOD AND DRUG ADMINISTRATION IS PLANNED FOR EARLY
2022 TO DISCUSS NEXT STEPS IN DEVELOPMENT BASED ON THE RESULTS
OF THE PHASE 2B MISSISSIPPI

Source text for Eikon:  ID:nGNX14xTkZ 
Further company coverage:  NCOX.PA 

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