Sophia Antipolis, France

Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today provided Q4 2018 operational highlights, revenue and cash position for Nicox and its subsidiaries (the “Nicox Group”), as well as key expected milestones in 2019.

Key Upcoming Milestones

Fourth Quarter 2018 and Recent Operational Highlights

Fourth Quarter 2018 Financial Highlights

As of December 31, 2018, the Nicox Group had cash and cash equivalents of €22.0 million as compared with €25.7 million at September 30, 2018 and €41.4 million at December 31, 2017. Net revenue2 for the fourth quarter of 2018 was €3.3 million, which consists of the upfront payment from Ocumension for NCX 470 for the Chinese market and royalties on fourth quarter 2018 sales of VYZULTA by global partner Bausch + Lomb, after deduction of royalty payments due by Nicox. As a comparison, the Nicox Group net revenue2 in the fourth quarter of 2017 was €2.3 million, corresponding to the payment from Bausch + Lomb of the U.S. FDA approval milestone for VYZULTA, and the royalty revenue following its launch in December 2017. Under the new plan for the launch of ZERVIATE in the U.S. announced above, Nicox will no longer receive the $1 million milestone payment associated with the delivery of commercial product to Eyevance but remains eligible for up to $3 million of a potential future milestone payment related to certain regulatory acceptance provisions and certain near term manufacturing objectives.

Only the figure related to the cash position of the Nicox Group as of December 31, 2017 is audited; all other figures of this press release are non-audited.
Notes

1. Bloomberg data, comparing the period of the weeks ending October 5, 2018 to December 28, 2018 with the period of the weeks ending July 6, 2018 to September 28, 2018
2. Net revenue consists of revenue from collaborations less royalty payments which corresponds to Net profit in the consolidated statements of profit or loss