Nicox S.A., specializing in ophthalmology, has released its financial results for the first half of 2025, reporting a decrease in revenue compared to 2024.
According to the press release, Nicox's revenue for the first half of 2025 amounted to 1.5 million euros, compared to 6.1 million euros for the same period in 2024. The decline is primarily due to the divestiture of royalty streams to Soleus in the second half of 2024. Operating expenses decreased to 6.8 million euros, down from 10.1 million in 2024, mainly due to reduced personnel costs. The net result shows a loss of 8.9 million euros, including a currency loss of 3 million euros, compared to a net loss of 4.3 million in 2024.
Licensing Payments and Financial Debt
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According to the company, Nicox received total licensing payments of 12.5 million euros during August and September, related to a licensing agreement with Kowa, as well as 2 million euros for the launch of clinical trials in Japan. These funds have partially been used to reduce financial debt, which stood at 7.4 million euros as of September 30, 2025. The company anticipates full repayment of its existing financial debts by 2026.
Future Milestones and Financial Position
Nicox anticipates several key milestones, including the filing of a marketing authorization application for NCX 470 in the United States in the first half of 2026, followed by China. Additionally, a phase 3 clinical program in Japan was initiated in the summer of 2025 by Kowa. As of June 30, 2025, Nicox's cash position was 5.7 million euros. The company states it is funded for at least the next 12 months and continues to focus on cost control and resource optimization.
Nicox a significativement renforcé sa position financière en 2025.
Risks mentioned
Baisse potentielle de la demande pour les nouveaux produits.
Risque de retard dans les soumissions réglementaires.
Opportunities identified
Soumission prévue de la NDA de NCX 470 aux États-Unis en été 2026.
Initiation du programme clinique de phase 3 pour NCX 470 au Japon.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
