(News Bulletin 247) – Nicox stock soared on the Paris Stock Exchange this Friday after the ophthalmology company announced that its Chinese partner had submitted a marketing authorization request in China.
At 10:45 a.m., the action of the company based in Sophia Antipolis climbed 32% in trading volumes already representing almost 10 times those traded over the entire session of the previous day.
In a press release published in the morning, Nicox indicates that Ocumension Therapeutics has submitted a marketing authorization application in China for Zerviate in ocular pruritus associated with allergic conjunctivitis.
The approval process is expected to take approximately 12 months, suggesting a potential commercial launch of Zerviate in China sometime in 2024.
Bringing the ophthalmic solution to market would provide Nicox with a new source of revenue in the form of royalties based on potential annual net sales.
According to Ocumension, these could reach more than 100 million dollars within seven years.
Knowing that all marketing costs will be borne by Ocumension, Nicox could potentially receive milestone payments of up to $17.2 million, as well as royalties of between 5% and 9% on net sales of the product.
Ocumension plans to manufacture Zerviate, originally discovered by Nicox but licensed to Ocumension in Asia, at its new facility in Suzhou, China.
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