Nicox Provides Second Quarter 2024 Update

Nicox reported a revenue of €1.6 million for Q2 2024, with net revenue of €1.0 million entirely from net royalties. The company's cash position stood at €7.8 million as of June 30, 2024, ensuring financial coverage until at least February 2025.

In Q2 2024, Nicox successfully raised €3.3 million through an equity raise and received an upfront payment of €3 million from a licensing deal with Kowa for NCX 470 in Japan. The company focuses on the development of NCX 470, nearing 95% randomization in its Denali Phase 3 trial, with anticipated topline results in H2 2025.

Corporate changes include the appointment of Damian Marron as Chair of the Board and Marc Le Bozec as Board member. Nicox also closed its Italian subsidiary, the Nicox Research Institute, as part of a cost reduction strategy.

Upcoming milestones include the expected approval and launch of ZERVIATE in China in 2024 and results from the Whistler Phase 3b clinical trial for NCX 470 in Q1 2025.