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Nicox reports €12.3 million loss in first half of 2016
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Nicox reported a net loss of €12.3 million in the first 6 months of 2016, excluding discontinued operations, compared with a net loss of €10.1 million reported during the same period in 2015, according to a press release.
Operating expenses totaled €12 million, excluding discontinued operations, compared with €8.8 million a year ago. The increase was attributed to costs associated with the submission of a new drug application to the FDA for AC-170 to treat ocular itching associated with allergic conjunctivitis.
Research and development expenses increased from €2.3 million in the first half of 2015 to €6.5 million in the first half of 2016.
The company had €12.3 million in cash, cash equivalents and financial instruments on June 30 compared with €29 million on Dec. 31, 2015.