France-based ophthalmology company Nicox SA announced an extension of its cash runway on 2 September ahead of regulatory reviews in both the US and China for its lead product NCX 470 (bimatoprost grenod) for two ocular conditions. As of 31 August, the company’s estimated cash and cash equivalents was €8.4 million compared with €4.1 million on 31 December 2025. The company said the cash position will carry it through the regulatory decision period which, if successful, would generate new revenue.
“Our current level of cash provides visibility for over 18 months and our exclusive US partner, Kowa, anticipates a commercial launch of NCX 470, subject to approval, in H2 2027. The expected NDA approval milestone supports us into 2029, with subsequent royalty revenue extending financial visibility well beyond that,” Nicox Chief Executive Gavin Spencer said in a prepared statement.
Nicox has a partnership with Kowa Co Ltd of Japan to develop and commercialise NCX 470 in Japan, the US and other countries, and with Ocumension Therapeutics Co Ltd covering the Chinese, Korean and southeast Asian markets. The US Food and Drug Administration is expected to take a decision on the NCX 470 application on 30 April 2027, which if positive, would trigger a milestone payment from Kowa. The Chinese application was filed in August 2026. An estimated decision date hasn’t been given. NCX 470 is a small molecule drug designed to lower intraocular pressure for patients suffering from open-angle glaucoma or ocular hypertension. Phase 3 data presented at the 2026 annual meeting of the American Glaucoma Society in February showed statistical superiority to the standard of care, according to Nicox.