Nicox was trading without a clear trend on the Paris Bourse on Wednesday, with analysts hailing the ophthalmology company's cash position but noting the persistent weakness of its sales.

At 2:40 pm, the share price was down 0.2%, after having gained up to 1.8% in the early morning, but also losing almost 0.5% by mid-session.

At December 31, 2022, the Group had cash and cash equivalents of €27.7 million, compared with €42 million a year earlier and €25.6 million at September 30, 2022.

As it stands, the company estimates that it will be financed until the second quarter of 2024, exclusively on the basis of NCX 470 development.

Its financial debt amounts to €20.5 million, including €18.7 million in bond financing granted by Kreos Capital in 2019, and €1.8 million in state-guaranteed loans granted in 2020 in the context of the Covid-19 pandemic.

However, analysts at Invest Securities highlight sales that are "still struggling to take off".

Fourth-quarter net sales amounted to one million euros, made up entirely of net royalty payments, compared with 3.5 million euros for the fourth quarter of 2021.

Net sales for the full year 2022 amount to 3.3 million euros, made up entirely of net royalty payments, compared with 7.2 million euros in 2021.

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