Nicox shares fell on Thursday's trading on the Paris Bourse following the announcement of a capital increase of up to 3.8 million euros.

In a press release, the ophthalmology specialist states that this capital increase is intended to finance the continued development of NCX 470, its lead candidate.

This new eye drop, still in the experimental stage, aims to reduce intraocular pressure in patients with open-angle glaucoma or ocular hypertension

The operation is to take the form of a capital increase with preferential subscription rights (DPS) on the basis of a parity of five warrants (ABSA) for 19 existing shares.

The subscription price of 0.25 euros per new share represents a discount of almost 30% to last night's closing price.

In its press release, Nicox points out that the operation is underwritten to the tune of around 2.5 million euros (75.6% of the capital increase), including one million euros by its Chinese partner Ocumension.

The main results of the Phase 3 study the company is currently conducting with Ocumension are expected in the second half of 2025.

The capital increase launched today should enable Nicox to extend its cash horizon to the first quarter of 2025.

At around 11:20 a.m., the share price was down by more than 10% after having limited its decline for most of the morning.

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