Nicox Provides Third Quarter 2024 update and First Half 2024 Financial Results
Press Release | ||
Nicox Provides Third Quarter 2024 update and First Half 2024 Financial Results | ||
October 17, 2024 – release at 7:30 am CET
Management Change
First Half 2024 Financial Results for Nicox SA | ||
About Nicox | ||
Nicox SA 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 (bimatoprost grenod), a novel nitric oxide-donating bimatoprost eye drop, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension. Nicox also has a preclinical research program on NCX 1728, a nitric oxide-donating phosphodiesterase-5 inhibitor, with Glaukos. Nicox’s first product, VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, is available commercially in the U.S. and over 15 other territories. Nicox generates revenue from ZERVIATE® in allergic conjunctivitis, licensed in multiple geographies, including to Harrow, Inc. in the U.S., and Ocumension Therapeutics in the Chinese and in the majority of Southeast Asian markets. . | ||
Analyst coverage | ||
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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 |
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Nicox |
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Disclaimer | ||
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. | ||
Nicox S.A. |
Income Statement
(in thousands of euros) |
| June 30, 2024 | June 30, 2023 |
Sales of services – Various re-invoicing |
| 2 | 3 |
Royalties for patent grants |
| 6 067 | 2 721 |
REVENUE |
| 6 069 | 2 724 |
Reversals of depreciation, amortization, provisions and transfers of expenses |
| 449 | 7 |
Other income |
| 105 | 77 |
TOTAL OPERATING INCOME |
| 6 623 | 2 807 |
Other purchases and external charges |
| (6 853) | (12 049) |
Taxes, duties and similar payments |
| (42) | (63) |
Salaries and wages |
| (1 548) | (918) |
Social security expenses |
| (412) | (361) |
Amortization |
| (9) | (11) |
Provisions for liability and charges |
| - | (108) |
Other expenses |
| (1 190) | (1 189) |
Exchange loss on receivables and debts |
| (57) | (130) |
TOTAL OPERATING EXPENSES |
| (10 111) | (14 829) |
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OPERATING PROFIT (LOSS) |
| (3 488) | (12 022) |
Other interest and similar income |
| 398 | 550 |
Reversal of provisions, impairment losses and transfer of expenses |
| 13 | 39 |
Foreign exchange gains |
| 23 | 110 |
TOTAL FINANCIAL INCOME |
| 434 | 699 |
Amortization, depreciation and financial provisions |
| (311) | (306) |
Interest and similar expenses |
| (789) | (790) |
Foreign exchange loss |
| - | (212) |
Interests on loan |
| (28) | (29) |
Net expense from sales of investments securities |
| (72) | (185) |
TOTAL FINANCIAL EXPENSES |
| (1 200) | (1 522) |
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|
|
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FINANCIAL PROFIT (LOSS) |
| (766) | (823) |
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PRE-TAX LOSS |
| (4 254) | (12 845) |
Exceptional income on management operations |
| 3 | - |
Exceptional income from previous financial year |
| - | 63 |
EXCEPTIONAL INCOME |
| 3 | 63 |
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EXCEPTIONAL INCOME (LOSS) |
| (23) | 63 |
Research tax credit |
| - | 251 |
NET PROFIT & LOSS |
| (4 277) | (12 531) |
Balance sheet
| June 30, 2024 | December 31, 2023 |
(in thousands of euros) |
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ASSETS |
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Intangible fixed assets | 18 | 24 |
Tangible fixed assets | 14 | 26 |
Financial fixed assets | 1 729 | 1 805 |
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FIXED ASSETS | 1 761 | 1 855 |
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Trade receivables and related accounts | 3 022 | 3 424 |
Other receivables (1) | 34 984 | 34 324 |
Cash assets | 7 654 | 11 259 |
Prepaid expenses | 1 207 | 886 |
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CURRENT ASSETS | 46 867 | 49 893 |
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Unrealized foreign exchange losses and valuation differences – Assets | 7 | 13 |
Loan redemption premiums | 914 | 1 218 |
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TOTAL REGULARISATION ACCOUNTS | 921 | 1 231 |
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TOTAL ASSETS | 49 549 | 52 979 |
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LIABILITIES |
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Share Capital | 635 | 50 170 |
Premiums related to share capital | 532 068 | 529 478 |
Retained earnings | (508 438) | (537 354) |
Net loss for the financial year | (4 277) | (20 881) |
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Total shareholders' equity | 19 988 | 21 413 |
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Provisions for liabilities | 7 | 13 |
Provisions for charges | 256 | 700 |
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Total provisions for liabilities and charges | 263 | 713 |
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Loans and debts from lending institutions | 20 536 | 20 895 |
Loans and other financial debts | 3 156 | 4 258 |
Accounts payable and related accounts | 1 580 | 2 498 |
Tax and social security debts | 515 | 648 |
Deferred income | 1 995 | 1 919 |
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Total current liabilities | 27 782 | 30 218 |
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Unrealized exchange gains | 1 516 | 635 |
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TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 49 549 | 52 979 |
1 Net revenue consists of revenue from collaborations less royalty payments
Attachment