Nicox announced on Monday that it had 9.1 million euros in cash at March 31, compared with 11.9 million at the end of 2023, enabling it to secure financing until at least November 2024.

The ophthalmology specialist says it is currently examining additional financing options, including business development discussions that could provide non-dilutive capital.

At the same time, the biopharmaceutical company is working on plans to raise capital on the stock markets.

Nicox's net loss for the full year 2023 narrowed to €20.9 million, compared with a shortfall of €31.3 million for the full year 2022.

Sales for the year rose to 6.9 million euros, mainly from royalties for concessions on its patents, compared with 5.5 million euros in 2022.

First-quarter sales came to 4.4 million euros, compared with 1.3 million euros for the first quarter of 2023.

At March 31, its financial debt stood at 20.6 million euros, including 19.4 million euros in outstanding debt with a BlackRock subsidiary and 1.2 million euros in state-guaranteed loans following the Covid pandemic.

On the Paris Bourse, Nicox shares lost 0.4%, bringing their year-to-date decline to over 14%.

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