France-based Nicox develops therapeutics for the treatment of ocular conditions. Its lead candidate NCX-470 is in Phase III studies for the treatment of glaucoma, and it is advancing NCX-4251 for dry eye disease. Nicox also receives licence revenue for its FDA-approved drugs Vyzulta and Zerviate.
More Nicox content >Investment summary
Nicox develops drugs for eye diseases, with lead candidate NCX-470 in Phase III trials targeting the topical ocular treatment of glaucoma. NCX-470 combines an NO-donating molecule with an analogue of established prostaglandin F2a drug, bimatoprost. NCX-470 0.065% has shown up to 1.4mmHg additional lowering of intraocular pressure (IOP) compared to latanoprost in the Phase II study, and the Phase III programme is testing a higher 0.1% drug concentration. Nicox is also advancing NCX-4251 for dry eye disease following a positive post-hoc analysis of its Phase IIb trial data.
Y/E Dec |
Revenue (€m) |
EBITDA (€m) |
PBT (€m) |
EPS (fd) (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 14.4 | (5.3) | (10.2) | (0.30) | N/A | N/A |
| 2021A | 8.6 | (16.5) | (15.5) | (0.32) | N/A | N/A |
| 2022E | 5.3 | (17.1) | (18.7) | (0.43) | N/A | N/A |
| 2023E | 7.0 | (18.1) | (19.8) | (0.44) | N/A | N/A |
Industry outlook
NCX-470, if approved, could become the most efficacious single-agent glaucoma drug on the market in terms of IOP-lowering activity. Mont Blanc, the first of two Phase III NCX-470 studies, recently completed patient screening and results are expected in Q422. The company is also developing a DED development strategy for NCX-4251. Nicox had €35.1m gross cash at 31 March 2022 and has guided that it is financed to Q423.
Last updated on 30/06/2022Content on Nicox
Sector |
|---|
|
Healthcare
Access more Healthcare content
|
Share price graph
Balance sheet |
|
|---|---|
| Forecast net cash (€m) | 2.8 |
| Forecast gearing ratio (%) | N/A |
Price performance
% |
1m |
3m |
12m |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| Michele Garufi | Chairman |
| Andreas Segerros | CEO |
| Gavin Spencer | Executive VP and Chief Business Officer |