Brief: Nicox Raises 15 Million Euros In Private Placement

Nicox SA

09/12/2021 08:52

Dec 9 (Reuters) - Nicox SA  NCOX.PA :
    * RESTRUCTURES KREOS CAPITAL BOND FINANCING AGREEMENT AND
RAISES
€15 MILLION IN PRIVATE PLACEMENT
    * NET PROCEEDS FROM PRIVATE PLACEMENT TOGETHER WITH
RESTRUCTURING
OF KREOS CAPITAL DEBT EXPECTED TO EXTEND CASH RUNWAY TO Q4 2023
    * WARRANTS TO BE ISSUED IN PRIVATE PLACEMENT COULD PROVIDE
AN
ADDITIONAL EUR 16.4 MILLION IN GROSS PROCEEDS IF THEY WERE TO BE
FULLY EXERCISED
    * AMENDMENT OF KREOS AGREEMENT ALLOWS COMPANY TO DECREASE
ITS
CASH-OUT IN NEXT TWO YEARS BY EUR 10.4 MILLION COMPARED TO
PREVIOUS AGREEMENT DUE TO DELAY IN REPAYMENT OF PRINCIPAL OF
LOAN
    * NICOX GROUP HAD CASH AND CASH EQUIVALENTS OF EUR 31.6
MILLION
(EXCLUDING PROCEEDS OF THIS FINANCING) AS OF 31 OCTOBER, 2021
    * CONSIDERS THAT COMPANY HAS SUFFICIENT NET WORKING CAPITAL
TO
MEET ITS CASH REQUIREMENTS FOR NEXT TWELVE MONTHS
    * ANTICIPATED GROSS PROCEEDS OF EUR 15 MILLION, REPRESENTING
NET
PROCEEDS OF APPROXIMATELY EUR 13.7 MILLION, EXCLUDING POTENTIAL
EXERCISE OF ASSOCIATED WARRANTS
    * CASH AND CASH EQUIVALENTS OF EUR 31.6 MILLION (EXCLUDING
PROCEEDS OF THIS FINANCING) AS OF 31 OCTOBER, 2021
    * NCX 470 IN GLAUCOMA: PHASE 3 CLINICAL TRIALS MONT BLANC
AND
DENALI RESULTS ARE EXPECTED TO BE COMMUNICATED IN Q1 2023 AND BY
END OF 2023, RESPECTIVELY
    * NCX 4251 IN BLEPHARITIS: MEETING WITH U.S. FOOD AND DRUG
ADMINISTRATION (FDA) IN EARLY 2022 TO DISCUSS NEXT DEVELOPMENT
STEPS BASED ON PHASE 2B CLINICAL TRIAL RESULTS ANNOUNCED IN
SEPTEMBER 2021
    * DELAY OF DENALI TRIAL IS LINKED TO A REVISION OF SCHEDULE
TAKING
INTO ACCOUNT EXPERIENCE IN RECRUITING PATIENTS IN US

Source text for Eikon:  ID:nGNE9Vzkyr 
Further company coverage:  NCOX.PA 

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