Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Nicox SA, retaining the price target of €1.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Nicox SA’s recent strategic developments. The company has entered into a significant licensing agreement with Kowa Company, granting them exclusive rights to develop and commercialize NCX 470 in the U.S. and other territories, excluding certain Asian markets. This agreement provides Nicox with an upfront payment and potential milestone payments, which could significantly enhance their financial position and extend their cash runway for over 12 months.
Furthermore, the promising results from the Phase 3 Denali trial, expected soon, could lead to new drug application submissions in the U.S. and China. The trial, along with previous successful results from the Mont Blanc trial, indicates that NCX 470 could be a strong contender in the global glaucoma market, valued at approximately $7 billion. These developments, combined with the potential for tiered royalties from Kowa, underpin Selvaraju’s optimistic outlook and Buy rating for Nicox SA.