Nicox reports third quarter highlights

Nicox had cash and cash equivalents of 47.1 million euros as of Sept. 30 compared with 20.4 million euros as of June 30, according to a company press release.
The company reported no revenues for the third quarter due to the fact that a nonrefundable $6 million payment from Eyevance Pharmaceuticals for exclusive licensing rights to Zerviate (cetirizine ophthalmic solution) was not immediately recognizable as revenue.
Nicox recently entered collaborations with Re-Vana Therapeutics and pSivida to explore the potential for sustained-release formulations of its stand-alone nitric oxide donors.

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