NicOx.... in attesa di..... (10 lettori)
- Creatore Discussione DickSIM
- Data di Inizio
elfrancese
Forumer storico
2 ans... tu pense que cela sera donc un plus gros refinancement que les precedents qui etaient de 15-20M
elfrancese
Forumer storico
je t'avoue que j'ai un gros doute sur leur stratégie
ne serait le pas plus habile de réaliser un petit refinancement de 8M par exemple
pour se laisser la possibilité fin d'année prochaine d'en realiser un à meilleur fortune avec un cours plus haut dans l'attente de mont blanc ?
ne serait le pas plus habile de réaliser un petit refinancement de 8M par exemple
pour se laisser la possibilité fin d'année prochaine d'en realiser un à meilleur fortune avec un cours plus haut dans l'attente de mont blanc ?
viralic
Forumer storico
Jazalde
Forumer storico
Chiaro che se li fanno per due anni e è perché non sono sicuri e preferiscono garantirsi gli stipendi più a lungo possibile e quindi farebbe capire che i tempi si allungano e le certezze che le cose fanno bene nello studio non le hanno. Se ne fanno uno imoprtante per due anni non è un bel segnale,ma è pure chiaro che a loro della quotazione non importa ,ma importa più allungare i tempi di sopravvivenza societaria.Sarebbe un bruttissimo segnale un ak per due anni anche perché poi non c'è da escludere ne facciano un altro visto il passato di questa società dove i tempi si allungano all'infinito e di ak ne hanno fatti troppi mentre di risultati concreti pochi.
La tua è una osservazione intelligente ma è chiaro che loro non guardano ad una eventuale ulteriore e definitivivo affossamento della quotazione , magari poi altro raggruppamento e si ricomincia, c'è da sperare in un cambio dei vertici se tutto ciò dovesse accadere anche se forse sarebbe anche troppo tardi.
Ma mi auguro per voi che non sia così e facciano qualcosa di diverso ormai da qui su capirà la eventuale fine di questo titolo che all'epoca aveva mirabili aspettative ma ormai sembra preda solo di una lenta agonia e ormai alla ultima spiaggia.
Ultima modifica:
viralic
Forumer storico
Press Release
Nicox Restructures Kreos Capital Bond Financing Agreement and Raises €15 Million in Private Placement
December 9, 2021 – release at 8:45 am CET
Sophia Antipolis, France
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced a financing through a private placement via the issuance of 6,000,000 new ordinary shares, each share with an attached warrant to acquire 5,100,000 additional new ordinary shares, at an offering price of €2.50 per share and associated warrant exercisable at a price of €3.21 (unit), with anticipated gross proceeds of €15 million, representing net proceeds of approximately €13.7 million, excluding the potential exercise of the associated warrants. The Company has also amended its bond financing agreement with Kreos Capital, which was for an initial amount of €20 million, introducing an additional interest only period and an extension of the maturity to up to 24 months on 70% of the outstanding debt with part of the remaining portion of the debt becoming convertible, as further described below. The amendment of the Kreos agreement allows the Company to decrease its cash-out in the next two years by €10.4 million compared to the previous agreement due to the delay in the repayment of the principal of the loan.
The Company was previously financed for 12 months. Proceeds from this equity financing and the restructuring of the Kreos bond financing agreement are expected to extend the cash runway to Q4 2023. This cash runway is based on the development of NCX 470 alone. The calculation does not include any potential proceeds from the exercise of the warrants included in the private placement (the exercise of which are not under the company’s control), which could provide an additional €16.4 million in gross proceeds if they were to be fully exercised.
Cash Position
The Nicox Group had cash and cash equivalents of €31.6 million (excluding the proceeds of this financing) as of 31 October, 2021 and outstanding debt of €19.4 million (including €16.1 million in the form of a bond financing agreement with Kreos signed in January 2019, a €2.0 million credit agreement guaranteed by the French State, and granted in August 2020 in the context of the COVID-19 pandemic, and financial lease agreements for €1.3 million). The Nicox Group's cash position after this private placement would amount to approximately €45.3 million.
All of the figures related to the cash and debt position of the Nicox Group as of 31 October, 2021 are unaudited.
Nicox has carried out a specific review of its liquidity risk and considers that the Company has sufficient net working capital to meet its cash requirements for the next twelve months. It is anticipated that neither the proceeds of the private placement nor the Kreos financing, as modified by the amendment, are included in the calculation of the net working capital. The net proceeds from the issue of units (as defined below) are expected to extend the cash runway until the fourth quarter of 2023 on the basis of development activities dedicated only to NCX 470. It is expected that the potential gross proceeds related to the exercise of warrants (which are not under the control of the Company), if any, is not taken into account in this analysis.
Upcoming milestones on key development programs
We continue to monitor the spread and impact of the COVID-19 pandemic closely. Some clinical trials of Nicox's product candidates are ongoing and any potential impact of the pandemic on them cannot be fully assessed at this time. We do not currently anticipate further major delays in our clinical timelines, but we are monitoring the situation and will provide an update when needed.
Principal terms of the equity financing
The share capital increase without preferential rights, by issuance of 6,000,000 new ordinary shares, each with an attached warrant to acquire 5,100,000 additional new ordinary shares, (the warrants, and together with the new shares, the units) was reserved for subscription by (i) one or more French or foreign companies or mutual funds investing in the pharmaceutical/biotechnology sector (une ou plusieurs sociétés ou fonds gestionnaires d’épargne collective de droit français ou de droit étranger investissant dans le secteur pharmaceutique/biotechnologique) or (ii) one or more credit institutions or any authorized investment services provider undertaking to acquire them for resale to the persons mentioned in (i) above (un ou plusieurs établissements de crédit ou tout prestataire de services d’investissement habilité s’engageant à les acquérir pour les revendre aux personnes visées au (i) ci-dessus), pursuant to the 8th resolution of the Extraordinary General Meeting of Nicox dated April 28, 2021.
The board of Directors set the issue price of the units at 2.50 euros (1 euro nominal value and 1.50 euros issue premium) and the exercise price of the warrants at 3.21 euros on December 8, 2021. In accordance with the methods for determination of the subscription price set in the 8th resolution of the extraordinary general meeting of shareholders of April 28, 2021, the issue price shows (i) a discount of 15% compared to the Volume Weighted Average Share Price of the Company on the regulated market of Euronext Paris during the last three trading days preceding the setting of the issue price, i.e. 2.94 euros and (ii) a discount of 35.5% compared to this average including the theoretical value of a warrant (ie 0.60 euros, the theoretical value of the warrant having been obtained using the method Black Sholes and assuming volatility of 32.6%). The subscription price of each share resulting from the exercise of the warrants will be 3.21 euros, which is a premium of 10% compared to the Volume Weighted Average Share Price of the Company on the regulated market of Euronext in Paris during the last three trading days preceding the setting of the issue price. Following the completion of the capital increase, the 6,000,000 new shares will represent 16.2% of the Company’s issued share capital before the capital increase and 13.9% after the capital increase. The settlement of the new shares is expected to occur on or about December 13, 2021, subject to the satisfaction of customary closing conditions.
If the warrants associated with this private placement were exercised in their entirety, the total gross proceeds would be approximately €16.4million.
The impact of this share capital increase, and of the warrants, should they be exercised, and of the Issue of the new convertible bonds, should they be converted by Kreos on (i) the stake held in the Company’s share capital by a shareholder holding 1%, and (ii) the share of equity (on a consolidated and per-share basis) as on June 30, 2021, in each case calculated on a non-diluted and fully-diluted basis, i.e. taking into account the issuance of a maximum of 2,959,198 new shares upon (x) exercise of all outstanding other warrants and stock options, and (y) the definitive acquisition of all free shares outstanding and (z) the conversion into shares of the Kreos convertible bonds is as follows:
*The calculations are based on the assumption that 766,848 warrants and 1,046,950 stock options will be exercised and that 245,400 free shares granted will be vested and that all KREOS convertible bonds will be converted into 900,000 shares.
Directors and Executive Committee members of Nicox, including the Chief Executive Officer, have agreed to certain customary lock-up arrangements with the Placement Agents (as defined below) on the shares they hold in Nicox for a 90-day period from the settlement date (subject to certain customary exemptions).
Use of proceeds
The proceeds of the private placement will be fully allocated to NCX 470. The Company intends to use the proceeds of the private placement, by order of priority, to complete the Mont Blanc trial (approximately 40%), continue to progress the Denali trial (approximately 33%) and to finance certain pharmaceutical activities (stability and manufacturing validation) to generate information for the preparation of a New Drug Application to the U.S. FDA (approximately 27%), it being expected that the cash available, before the proceeds of the private placement, is sufficient to cover the fixed costs of the Company for two years. Therefore, the proceeds of the private placement will not be used to cover these costs.
Proceeds from this financing are not intended to be used to repay, in whole or in part, neither capital or interest, the debt from Kreos nor the loan agreement guaranteed by the French State, which are financed by the revenues generated by the license contracts.
The potential proceeds from the exercise of the warrants, if any, will allow the Company to finance the development activities for NCX 470, in particular to complete the preparation of the marketing authorization application file with the FDA and to finance pre-commercial activities in preparation for the launch of the product. As an indication, the estimate of the net proceeds from the issue of the new shares is approximately 13,700,000 euros. In the event that all of the warrants are exercised, the net proceeds from the issuance of shares resulting from the warrants are estimated at approximately 16,400,000 euros, or a maximum total net income of 30,100,000 euros.
The proceeds from the issue should make it possible to extend the liquidity horizon until the fourth quarter of 2023 on the basis of development activities dedicated solely to NCX 470. It is expected that the potential gross proceeds related to the exercise of the warrants (which are not in the control of the Company), if any, is not taken into account in this analysis.
Nicox Restructures Kreos Capital Bond Financing Agreement and Raises €15 Million in Private Placement
- Net proceeds from the private placement together with the restructuring of the Kreos Capital debt expected to extend the cash runway to Q4 2023
- Warrants to be issued in the private placement could provide an additional €16.4 million in gross proceeds if they were to be fully exercised
December 9, 2021 – release at 8:45 am CET
Sophia Antipolis, France
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced a financing through a private placement via the issuance of 6,000,000 new ordinary shares, each share with an attached warrant to acquire 5,100,000 additional new ordinary shares, at an offering price of €2.50 per share and associated warrant exercisable at a price of €3.21 (unit), with anticipated gross proceeds of €15 million, representing net proceeds of approximately €13.7 million, excluding the potential exercise of the associated warrants. The Company has also amended its bond financing agreement with Kreos Capital, which was for an initial amount of €20 million, introducing an additional interest only period and an extension of the maturity to up to 24 months on 70% of the outstanding debt with part of the remaining portion of the debt becoming convertible, as further described below. The amendment of the Kreos agreement allows the Company to decrease its cash-out in the next two years by €10.4 million compared to the previous agreement due to the delay in the repayment of the principal of the loan.
The Company was previously financed for 12 months. Proceeds from this equity financing and the restructuring of the Kreos bond financing agreement are expected to extend the cash runway to Q4 2023. This cash runway is based on the development of NCX 470 alone. The calculation does not include any potential proceeds from the exercise of the warrants included in the private placement (the exercise of which are not under the company’s control), which could provide an additional €16.4 million in gross proceeds if they were to be fully exercised.
Cash Position
The Nicox Group had cash and cash equivalents of €31.6 million (excluding the proceeds of this financing) as of 31 October, 2021 and outstanding debt of €19.4 million (including €16.1 million in the form of a bond financing agreement with Kreos signed in January 2019, a €2.0 million credit agreement guaranteed by the French State, and granted in August 2020 in the context of the COVID-19 pandemic, and financial lease agreements for €1.3 million). The Nicox Group's cash position after this private placement would amount to approximately €45.3 million.
All of the figures related to the cash and debt position of the Nicox Group as of 31 October, 2021 are unaudited.
Nicox has carried out a specific review of its liquidity risk and considers that the Company has sufficient net working capital to meet its cash requirements for the next twelve months. It is anticipated that neither the proceeds of the private placement nor the Kreos financing, as modified by the amendment, are included in the calculation of the net working capital. The net proceeds from the issue of units (as defined below) are expected to extend the cash runway until the fourth quarter of 2023 on the basis of development activities dedicated only to NCX 470. It is expected that the potential gross proceeds related to the exercise of warrants (which are not under the control of the Company), if any, is not taken into account in this analysis.
Upcoming milestones on key development programs
- NCX 470 in glaucoma: Phase 3 clinical trials Mont Blanc and Denali results are expected to be communicated in Q1 2023 and by the end of 2023, respectively. The delay of the Denali trial is linked to a revision of the schedule taking into account the experience in recruiting patients in the U.S. part of the Mont Blanc trial, a delay mainly due to the COVID pandemic, and the Company's discussions with Ocumension and with the various providers for the Chinese part of the trial.
- NCX 4251 in blepharitis: Meeting with the U.S. Food and Drug Administration (FDA) in early 2022 to discuss next development steps based on the Phase 2b clinical trial results announced in September 2021.
- ZERVIATETM in allergic conjunctivitis (China): A Phase 3 clinical trial intended to support an application for regulatory approval in China, conducted and financed by our partner Ocumension, is ongoing.
We continue to monitor the spread and impact of the COVID-19 pandemic closely. Some clinical trials of Nicox's product candidates are ongoing and any potential impact of the pandemic on them cannot be fully assessed at this time. We do not currently anticipate further major delays in our clinical timelines, but we are monitoring the situation and will provide an update when needed.
Principal terms of the equity financing
The share capital increase without preferential rights, by issuance of 6,000,000 new ordinary shares, each with an attached warrant to acquire 5,100,000 additional new ordinary shares, (the warrants, and together with the new shares, the units) was reserved for subscription by (i) one or more French or foreign companies or mutual funds investing in the pharmaceutical/biotechnology sector (une ou plusieurs sociétés ou fonds gestionnaires d’épargne collective de droit français ou de droit étranger investissant dans le secteur pharmaceutique/biotechnologique) or (ii) one or more credit institutions or any authorized investment services provider undertaking to acquire them for resale to the persons mentioned in (i) above (un ou plusieurs établissements de crédit ou tout prestataire de services d’investissement habilité s’engageant à les acquérir pour les revendre aux personnes visées au (i) ci-dessus), pursuant to the 8th resolution of the Extraordinary General Meeting of Nicox dated April 28, 2021.
The board of Directors set the issue price of the units at 2.50 euros (1 euro nominal value and 1.50 euros issue premium) and the exercise price of the warrants at 3.21 euros on December 8, 2021. In accordance with the methods for determination of the subscription price set in the 8th resolution of the extraordinary general meeting of shareholders of April 28, 2021, the issue price shows (i) a discount of 15% compared to the Volume Weighted Average Share Price of the Company on the regulated market of Euronext Paris during the last three trading days preceding the setting of the issue price, i.e. 2.94 euros and (ii) a discount of 35.5% compared to this average including the theoretical value of a warrant (ie 0.60 euros, the theoretical value of the warrant having been obtained using the method Black Sholes and assuming volatility of 32.6%). The subscription price of each share resulting from the exercise of the warrants will be 3.21 euros, which is a premium of 10% compared to the Volume Weighted Average Share Price of the Company on the regulated market of Euronext in Paris during the last three trading days preceding the setting of the issue price. Following the completion of the capital increase, the 6,000,000 new shares will represent 16.2% of the Company’s issued share capital before the capital increase and 13.9% after the capital increase. The settlement of the new shares is expected to occur on or about December 13, 2021, subject to the satisfaction of customary closing conditions.
If the warrants associated with this private placement were exercised in their entirety, the total gross proceeds would be approximately €16.4million.
The impact of this share capital increase, and of the warrants, should they be exercised, and of the Issue of the new convertible bonds, should they be converted by Kreos on (i) the stake held in the Company’s share capital by a shareholder holding 1%, and (ii) the share of equity (on a consolidated and per-share basis) as on June 30, 2021, in each case calculated on a non-diluted and fully-diluted basis, i.e. taking into account the issuance of a maximum of 2,959,198 new shares upon (x) exercise of all outstanding other warrants and stock options, and (y) the definitive acquisition of all free shares outstanding and (z) the conversion into shares of the Kreos convertible bonds is as follows:
| SHAREHOLDERS INTEREST (%) | SHARE OF EQUITY PER SHARE BASIS (IN €) | |||
| Non-diluted basis | Fully-diluted basis * | Non-diluted basis | Fully-diluted basis* | |
| Before issue of new shares | 1 % of the share capital | 0.93% | €2.44 | €2.61 |
| After issue of 6,000,000 new shares | 0.86% | 0.81% | €2.44 | €2.57 |
| After issue of 6,000,000 new shares and 5,100,000 shares resulting from warrants resulting from the exercise of all the warrants (according to the exercise parity of 1.18 warrants giving the right to subscribe to 1 share of the Company) | 0.77% | 0.73% | €2.52 | €2.63 |
Directors and Executive Committee members of Nicox, including the Chief Executive Officer, have agreed to certain customary lock-up arrangements with the Placement Agents (as defined below) on the shares they hold in Nicox for a 90-day period from the settlement date (subject to certain customary exemptions).
Use of proceeds
The proceeds of the private placement will be fully allocated to NCX 470. The Company intends to use the proceeds of the private placement, by order of priority, to complete the Mont Blanc trial (approximately 40%), continue to progress the Denali trial (approximately 33%) and to finance certain pharmaceutical activities (stability and manufacturing validation) to generate information for the preparation of a New Drug Application to the U.S. FDA (approximately 27%), it being expected that the cash available, before the proceeds of the private placement, is sufficient to cover the fixed costs of the Company for two years. Therefore, the proceeds of the private placement will not be used to cover these costs.
Proceeds from this financing are not intended to be used to repay, in whole or in part, neither capital or interest, the debt from Kreos nor the loan agreement guaranteed by the French State, which are financed by the revenues generated by the license contracts.
The potential proceeds from the exercise of the warrants, if any, will allow the Company to finance the development activities for NCX 470, in particular to complete the preparation of the marketing authorization application file with the FDA and to finance pre-commercial activities in preparation for the launch of the product. As an indication, the estimate of the net proceeds from the issue of the new shares is approximately 13,700,000 euros. In the event that all of the warrants are exercised, the net proceeds from the issuance of shares resulting from the warrants are estimated at approximately 16,400,000 euros, or a maximum total net income of 30,100,000 euros.
The proceeds from the issue should make it possible to extend the liquidity horizon until the fourth quarter of 2023 on the basis of development activities dedicated solely to NCX 470. It is expected that the potential gross proceeds related to the exercise of the warrants (which are not in the control of the Company), if any, is not taken into account in this analysis.
Jazalde
Forumer storico
Come volevasi dimostrare,aumento pesante che fa capire tutto,lenta agonia a discapito come al solito piccoli azionisti e difesa dei salari del management e del personale assicurati fino al 2023 poi ........altro ak e i giochi vanno avanti.
Nulla di nuovo,solo rinvii e altri ak.
Nulla di nuovo,solo rinvii e altri ak.
elfrancese
Forumer storico
Effectivement une usine à gaz …
le paragraphe sur denali laisse songeur… h a t’il une divergence avec les chinois ?
le paragraphe sur denali laisse songeur… h a t’il une divergence avec les chinois ?
Jazalde
Forumer storico
Sempre e solo al e diluizioni e rinvii di tutto ma solo il management non cambia e purtroppo nessuno li può scalzare.
Come di vede trovano solo soldi da squali di mercato che poi sfruttano chiaramente la situazione e portano alla distruzione della quotazione che ormai sono anni e anni che non si riprende e di questo passo non salirà mai più,titolo ormai agonizzante e società incapace a trovare soluzioni per rialzarla,ma chiaro che non è quella la loro priorità.