Nicox

Overview
Price performance
Financials
Research
Thematics

France-based Nicox develops therapeutics for the treatment of ocular conditions. 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 receives licence revenue for its FDA-approved drugs Vyzulta and Zerviate.

Latest Insights

Healthcare |
Flash note

18.12.23

Nicox — Animal data show favourable profile vs Lumigan

Healthcare |
Update

14.11.23

Nicox — Q323 update confirms trajectory for NCX-470

Healthcare |
Flash note

21.07.23

Nicox — Denali trial remains on track for 2025 readout

Healthcare |
Flash note

13.07.23

Nicox — Nicox provides NCX-470 sales potential estimates

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Sector

Healthcare

Equity Analyst

Pooya Hemami

Analyst - Healthcare

Arron Aatkar

Analyst

Jyoti Prakash

Analyst, Healthcare

Key Management

Andreas Segerros

CEO
Gavin Spencer

Executive VP and Chief Business Officer
Michele Garufi

Chairman

Balance Sheet

Forecast net debt (€m)

9.2

Forecast gearing ratio (%)

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(16.4)	24.4	(42.2)
Relative	(11.7)	29.2	(41.8)
52 week high/low	€0.4/€0.2

Financials

Nicox has reported that an in vivo study carried out in beagles found that NCX-470 (0.1%) treatment led to a greater degree of intraocular pressure (IOP) reduction compared to AbbVie’s Lumigan (bimatoprost 0.01%), the best-selling branded prostaglandin F2α analogue (PGA) drug, in both single and repeated (five-day) dosing. The newly reported data from the open-label cross-over study assessing NCX-470, Lumigan and vehicle were published in the peer-reviewed Journal of Ocular Pharmacology and Therapeutics. While we acknowledge the limitations in read-across from animal data and note the Mont Blanc study did not show statistical superiority against PGA drug latanoprost (although it did meet the non-inferiority primary efficacy endpoint), we believe the new findings add to the body of collective data suggesting a competitive commercial profile for NCX-470 versus standalone PGA drugs such as bimatoprost.