Nicox Provides Third Quarter 2021 Business and Financial Highlights

Nicox Provides Third Quarter 2021 Business and Financial Highlights

Nicox Provides Third Quarter 2021 Business and Financial Highlights

Press Release
Nicox Provides Third Quarter 2021 Business and Financial Highlights
  • VYZULTA® and ZERVIATE® prescriptions in the U.S. increased by 35% and 213% respectively in Q3 2021 compared to Q3 2020
    • Net Revenue of €2.4 million in the third quarter of 2021 and cash of €32.7 million on September 30, 2021

October 19, 2021– release at 7:30 am CET
Sophia Antipolis, France

Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, provided business and financial highlights for Q3 2021 for Nicox SA and its subsidiaries (the “Nicox Group”) as well as key expected value-inflection milestones today.

Third Quarter 2021 Financial Highlights

As of September 30, 2021, the Nicox Group had cash and cash equivalents of €32.7 million as compared with €36.5 million at June 30, 2021 and €47.2 million at December 31, 2020. The Company is financed for 12 months, based on the development of NCX 470 alone. Net revenue1 for the third quarter of 2021 was €2.4 million (including €0.7 million of net royalty payments and €1.7 million of licensing payment). Net revenue1 for the third quarter of 2020 was €0.8 million (consisting of net royalty payments and license fees from smaller markets).  

As of September 30, 2021, the Nicox Group had financial debt of €18.1 million consisting of €16.1 million in the form of a bond financing agreement with Kreos Capital signed in January 2019 and a €2.0 million credit agreement guaranteed by the French State and granted in August 2020 in the context of the COVID-19 pandemic.

Third Quarter 2021 and Recent Operational Highlights

  • VYZULTA® prescriptions2 in the U.S. increased by 35% in the third quarter of 2021 compared to the third quarter of 2020, and for ZERVIATE® the increase was 213% for the same period.
    • Nicox reported new data on NCX 470 in a nonclinical model of retinal cell damage induced by endothelin-1. The results suggest that NCX 470 improves ocular perfusion and retinal function in damaged eyes compared to vehicle and therefore may have therapeutic properties over and above lowering of intraocular pressure.

Key expected milestones

  • NCX 470 in glaucoma: Phase 3 clinical trials Mont Blanc and Denali results to be communicated in Q1 2023 and by the end of 2023 respectively.
  • NCX 4251 in blepharitis: Meeting with the U.S. Food and Drug Administration in early 2022 to discuss next development steps based on the recently announced Phase 2b trial results.
  • ZERVIATETMin allergic conjunctivitis (China): A Phase 3 clinical trial intended to support an application for regulatory approval in China, conducted and financed by our partner Ocumension, is ongoing.

Only the figure related to the cash position of the Nicox Group as of December 31, 2020 is audited; all other figures in this press release are non-audited.


  1. Net revenue consists of revenue from collaborations less royalty payments, which corresponds to Net Profit in the consolidated statements of profit and loss
  2. Bloomberg data, comparing the period of the weeks ending 9 July 2021 to 1 October 2021 with the period of the weeks ending 10 July 2020 to 2 October 2020

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:

Analyst coverage

Bryan, Garnier & Co         Victor Floc’h        Paris, France
Cantor Fitzgerald        Louise Chen        New York, U.S.
Edison Investment Research        Pooya Hemami        London, UK
H.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.
Gavin Spencer
Executive Vice President, Chief Business Officer
& Head of Corporate Development
T +33 (0)4 97 24 53 00
Investors & Media
United States & Europe
LifeSci Advisors, LLC
Sandya von der Weid
T +41 78 680 05 38
LifeSci Advisors, LLC
Sophie Baumont
T +33 (0)6 27 74 74 49
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 (

Nicox S.A.
Drakkar 2
Bât D, 2405 route des Dolines
CS 10313, Sophia Antipolis
06560 Valbonne, France
T +33 (0)4 97 24 53 00
F +33 (0)4 97 24 53 99