Nicox reduced its losses last year, but also saw its sales and cash position shrink, a trend that weighed on the pharmaceutical company's share price on Monday morning in Paris.

For fiscal year 2022, the ophthalmology specialist posted a net loss of 27.8 million euros, compared to 43.8 million a year earlier.

Net sales for the year totaled 3.3 million euros, made up entirely of net royalties, compared with 7.2 million (mainly partnership milestone payments) in 2021.

Nicox generates most of its revenues from Vyzulta, licensed exclusively worldwide to its partner Bausch + Lomb, which recorded 31% sales growth and an increase in the number of prescriptions in the United States.

At December 31, 2022, the company's cash position stood at 27.7 million euros, compared with 42 million one year earlier, an amount which the company considers sufficient to ensure its financing until the second quarter of 2024, based exclusively on the development of NCX 470.

While the results of the Mont Blanc study on NCX 470 are already known, those of the phase 3 clinical trial in open-angle glaucoma and ocular hypertension are not expected before 2025.

Following these announcements, Nicox shares fell by 0.9% to a market capitalization of 33.3 million euros.

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