In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Nicox SA, with a price target of €1.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors related to Nicox SA’s strategic developments and financial prospects. The initiation of a Phase 3 safety trial for NCX 470 in Japan, managed by their partner Kowa, has triggered a €2 million milestone payment to Nicox, indicating progress in their drug development pipeline. This trial, along with a planned confirmatory trial, is crucial for obtaining marketing approval in Japan, and Kowa’s responsibility for financing these trials reduces Nicox’s financial burden.
Furthermore, Nicox’s recent licensing agreement with Kowa grants them exclusive rights to develop and commercialize NCX 470 in the U.S. and other territories, excluding certain Asian markets. This agreement includes substantial upfront and potential milestone payments, enhancing Nicox’s financial outlook. Additionally, positive results from the Denali trial could lead to NDA submissions in the U.S. and China, positioning Nicox to capitalize on the $7 billion global glaucoma market. These strategic moves and financial arrangements underpin Selvaraju’s optimistic outlook and Buy rating for Nicox SA.