Nicox First Half 2021 Financial Results and Business Update
Press Release | ||
Nicox First Half 2021 Financial Results and Business Update | ||
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About Nicox | ||
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. | ||
Analyst coverage | ||
Bryan, Garnier & Co Victor Floc’h Paris, FranceCantor Fitzgerald Louise Chen New York, U.S.Edison Investment Research Pooya Hemami London, UKH.C. Wainwright & Co Yi Chen New York, U.S.Kepler Cheuvreux Damien Choplain 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. | ||
Contacts | ||
NicoxGavin SpencerExecutive Vice President, Chief Business Officer& Head of Corporate Development T +33 (0)4 97 24 53 00[email protected] | ||
Investors & MediaUnited States & Europe LifeSci Advisors, LLC Sandya von der Weid T +41 78 680 05 38[email protected] | MediaFranceLifeSci Advisors, LLCSophie BaumontT +33 (0)6 27 74 74 49 [email protected] | |
Forward-Looking Statements | ||
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 which are available on Nicox’s website (www.nicox.com). | ||
Nicox S.A.Drakkar 2Bât D, 2405 route des DolinesCS 10313, Sophia Antipolis06560 Valbonne, FranceT +33 (0)4 97 24 53 00F +33 (0)4 97 24 53 99 |
nicox saInterim Consolidated statement of Comprehensive Income
6 Months period ending June 30, | ||
2021 | 2020 | |
(in thousands of € except for per share data) | ||
Revenues from collaborations | 2,043 | 3,271 |
Royalty payments | (721) | (891) |
Net Profit from collaborations | 1,322 | 2,380 |
Research and development expenditures | (10,000) | (6,533) |
Administrative expenses | (3,263) | (3,496) |
Other income | 466 | 840 |
Other expenses | (90) | (174) |
Operating loss before amortization of intangible assets | (11,565) | (6,983) |
Amortization of intangible assets | (587) | (645) |
Operating loss | (12,152) | (7,628) |
Finance income | 1,451 | 1,213 |
Finance expense | (1,036) | (8,166)(1) |
Net financial income/(expense) | 415 | (6,953) |
Loss before tax | (11,737) | (14,581) |
Income tax (expense) / benefit | 24 | (26) |
Net loss for the period | (11,713) | (14,607) |
(1) Included €6.1 million of expenses without cash impact related to the impairment of VISUfarma assets sold in July 2020.
nicox saInterim consolidated statement of financial position
As of June 30, 2021 | As of Dec. 31, 2020 | |
(in thousands of €) | ||
ASSETS | ||
Non-current assets | ||
Goodwill | 24,433 | 23,663 |
Intangible assets | 66,356 | 64,848 |
Property, plant and equipment | 1,029 | 1,166 |
Non-current financial assets | 69 | 68 |
Total non-current assets | 91,887 | 89,745 |
Current assets | ||
Clients | 1,283 | 1,723 |
Government grants receivables | 1,130 | 736 |
Other current assets | 317 | 237 |
Prepayments | 2,209 | 2,630 |
Cash and cash equivalents | 36,528 | 47,195 |
Total current assets | 41,467 | 52,521 |
TOTAL ASSETS | 133,354 | 142,266 |
EQUITY AND LIABILITIES | ||
Shareholder’s equity | ||
Issued capital | 37,112 | 37,030 |
Share premium | 528,513 | 528,595 |
Cumulative translation adjustement | 4,597 | 2,959 |
Treasury shares | (873) | (605) |
Accumulated deficit | (478,033) | (467,169) |
Total Equity | 91,316 | 100,810 |
Non-current liabilities | ||
Non-current financial liabilities | 16,031 | 13,429 |
Deferred tax liabilities | 12,255 | 11,868 |
Non current provisions | 819 | 754 |
Total non-current liabilities | 29,105 | 26,051 |
Current liabilities | ||
Current financial liabilities | 2,917 | 5,646 |
Trade payables | 3,433 | 2,422 |
Deferred income | 5,113 | 5,174 |
Other current liabilities | 1,470 | 2,163 |
Total current liabilities | 12,933 | 15,405 |
TOTAL LIABILITIES AND EQUITY | 133,354 | 142,266 |
Attachment
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