Press Release |
Nicox Provides Full Year 2025 Financial Results and Corporate Update |
April 30, 2026 – release at 7:30 am CET
Full Year 2025 Financial Results for Nicox SA |
About Nicox |
Nicox SA is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. Nicox’s lead late-stage development program is NCX 470 (bimatoprost grenod), a novel nitric oxide-donating bimatoprost eye drop, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension, licensed to Ocumension Therapeutics for the Chinese, Korean and Southeast Asian markets and to Kowa in the rest of the world. Nicox also has a preclinical research program on NCX 1728, a nitric oxide-donating phosphodiesterase-5 inhibitor, with Glaukos. Nicox’s first product, VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, is available commercially in the U.S. and over 15 other territories. Nicox generates revenue from ZERVIATE® in allergic conjunctivitis, licensed in multiple geographies, including to Harrow, Inc. in the U.S., and Ocumension Therapeutics in the Chinese and in the majority of Southeast Asian markets. |
Analyst coverage | |
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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. | |
Contacts | |
Nicox | |
Disclaimer | |
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. | |
Nicox S.A. | |
Income Statement
(in thousands of euros) | December 31, 2025 | December 31, 2024 |
Net sales (revenue) | 16,771 | 7,859 |
Reversals of depreciation, impairment and provisions | 2,000 | 444 |
Proceeds from disposals of intangible and tangible fixed assets | 1 | - |
Other income | 176 | 574 |
OPERATING INCOME | 18,948 | 8,877 |
Other purchases and external expenses | (10,233) | (14,552) |
Taxes, duties and similar payments (other than on income) | (44) | (72) |
Salaries | (1,220) | (2,092) |
Social charges | (580) | (651) |
Depreciation and impairment of intangible and tangible fixed assets | (10) | (17) |
Provision expense | (44) | (12) |
Net book value of disposed intangible and tangible fixed assets | (2,003) | - |
Other expenses | (188) | (1,335) |
OPERATING EXPENSES | (14,322) | (18,731) |
OPERATING PROFIT (LOSS) | 4,626 | (9,854) |
Income from equity investments | - | 3,050 |
Income from other long-term securities and receivables | 240 | 244 |
Other interest and similar income | 506 | 601 |
Reversals of impairment and provisions | 16,152 | 13 |
Foreign exchange gains | 47 | 371 |
FINANCIAL INCOME | 16,945 | 4,279 |
Amortization, depreciation and financial provisions | (20,363) | (27,776) |
Interest and similar expenses | (2,950) | (1,557) |
Foreign exchange loss | (671) | (45) |
FINANCIAL EXPENSES | (23,984) | (29,378) |
FINANCIAL PROFIT (LOSS) | (7,039) | (25,099) |
PRE-TAX INCOME (LOSS) | (2,413) | (34,952) |
Exceptional income on management operations | - | 13,743 |
Exceptional income on capital operations | - | 3 |
EXCEPTIONAL INCOME | - | 13,746 |
Exceptional charges on management operations | - | (2) |
Exceptional charges on capital operations | - | (922) |
EXCEPTIONAL EXPENSES | - | (924) |
EXCEPTIONAL INCOME (LOSS) | - | 12,822 |
Research Tax Credit | - | (259) |
NET PROFIT & LOSS | (2,413) | (22,390) |
Balance sheet
(in thousands of euros) | December 31, 2025 | December 31, 2024 |
ASSETS | ||
Intangible assets | 6 | 13 |
Property, plant and equipment | 5 | 11 |
Financial assets | 139 | 725 |
TOTAL FIXED ASSETS | 150 | 749 |
Trade receivables and related accounts | 936 | 1,643 |
Other receivables | 2,268 | 9,349 |
Prepaid expenses | 1,280 | 1,515 |
Cash and cash equivalents | 4,147 | 10,542 |
TOTAL CURRENT ASSETS | 8,631 | 23,049 |
Unrealized foreign exchange losses and valuation differences - Assets | 1,592 | 13 |
Bond redemption premiums | - | 610 |
TOTAL REGULARISATION ACCOUNTS | 1,592 | 623 |
TOTAL ASSETS | 10,373 | 24,421 |
LIABILITIES | ||
Issued Capital | 884 | 692 |
Share premium | 538,377 | 533,549 |
Retained earnings | (530,828) | (508,438) |
Net loss for the period | (2,413) | (22,390) |
TOTAL SHAREHOLDERS' EQUITY | 6,020 | 3,413 |
Provisions for liabilities | 1,591 | 13 |
Provisions for charges | 312 | 268 |
TOTAL PROVISIONS FOR LIABILITIES AND CHARGES | 1,903 | 281 |
Loans and debts from lending institutions | 337 | 15,064 |
Loans and other financial debts | 67 | 82 |
Accounts payable and related accounts | 675 | 1,651 |
Tax and social security liabilities | 751 | 603 |
Deferred income | 617 | 735 |
TOTAL LIABILITIES | 2,447 | 18,135 |
Unrealized foreign exchange gains and valuation differences - Liabilities | 3 | 2,592 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 10,373 | 24,421 |
1 For illustrative purposes, if all the convertible bonds announced today were converted based on the Nicox share price at the close market on April 29, 2026 and of outstanding shares as of April 29, 2026, a shareholder holding 1.00% of Nicox's share capital prior to the transaction would see their holding reduced to 0.97% of the share capital on a non-diluted basis and to 0.74% on a fully diluted basis (taking into account existing dilutive instruments).
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