………………………………………………………………………………………….

Sophia Antipolis, France

Nicox S.A. (Euronext Paris: FR0013018124, COX), the international ophthalmic company, today reported its first quarter 2016 revenues and cash position and provided an update on its activities.

Michele Garufi, Chairman and Chief Executive Officer of Nicox, stated, “We have successfully started 2016 with our strongest quarter revenue to date, €3.5 million, reflecting more than 60% growth. We also achieved the important development milestone of the submission last month of the AC-170 NDA for allergic conjunctivitis, for which we expect to hear shortly from the FDA concerning the Priority Review status. In addition, the recent ARVO ophthalmology congress in Seattle featured presentations by both our partner, Bausch + Lomb, on latanoprostene bunod, and the Nicox teams on our NO-donating pipeline, raising significant interest in the scientific community around the results of our new research projects. We look forward to communicating the FDA’s feedback on the latanoprostene bunod and AC-170 NDAs in due course.”

First-quarter financial highlights

The Group’s revenues in the first three months of 2016 totaled €3.5 million and consisted exclusively of European and International product sales. These compare to €2.1 million in the first quarter of 2015, a growth of over 60%. Nicox is currently evaluating a number of strategic options for its European commercial business for which discussions remain ongoing.

The Group had cash, cash equivalents and financial instruments of €20.8 million as of March 31, 2016. The cash burn in the first quarter 2016 included €3.1 million of non-recurrent spending related to submission of the AC170 New Drug Application (NDA) and additional work so support the AC-170 NDA review.

First-quarter and post-reporting period operational highlights

Key Upcoming Milestones

………………………………………………………………………………………….

References

1. Zyrtec® is a trademark of UCB Pharma SA or GlaxoSmithKline.