Nicox cuts losses

Nicox today announced a net loss of 4.6 million euros for the first nine months of 2012, compared to a loss of 10.4 million euros in the same period last year. The French ophthalmic therapeutic and diagnostic specialist cited strong revenue growth as the main reason for the decrease in losses.

Nicox reported 7.6 million euros in revenue for the period, compared to zero revenue in the first nine months of last year. These revenues correspond principally to a one-off $10 million milestone payment from Bausch & Lomb in April related to its decision to continue the development of BOL-303259-X, a prostaglandin F2-alpha analog for the treatment of glaucoma and ocular hypertension.