Nicox reports year-to-date net loss
Nicox reported a net loss of €13.6 million for the 9-month period ending Sept. 30, according to a press release.
For the same period a year ago, Nicox recorded a net loss of €4.6 million. The company cited an increase in operating expenses associated with the costs of building its commercial organization in the U.S. and Europe and a decrease in revenue as reasons for the loss.
Revenues were €0.3 million in the 9-month period, compared with €7.6 million for the corresponding period in 2012, which included a milestone payment from Bausch + Lomb.
Selling, administrative, and research and development costs were €13.6 million, up from €11.6 million a year ago. Forty-three percent of costs related to selling expenses due to the transformation of Nicox into a commercial ophthalmic company.