PIZZODIGINO
Pacifico
Garufi non ha escluso che ci potrà essere un nuovo aumento di capitale in un futuro nemmeno troppo lontano.
NicOx.... in attesa di..... (9 lettori)
- Creatore Discussione DickSIM
- Data di Inizio
PIZZODIGINO
Pacifico
Eravamo solo in 5 persone ad ascoltare Garufi, davvero scarso l'interesse verso la nostra Nicox.
Io poi mi aspettavo un abbondante Buffet, ma non ci hanno dato nemmeno un bicchiere d'acqua.
Io poi mi aspettavo un abbondante Buffet, ma non ci hanno dato nemmeno un bicchiere d'acqua.
PIZZODIGINO
Pacifico
By Natalie Huet and Noëlle Mennella
PARIS, Oct 13 (Reuters) - French pharmaceutical firm Nicox may list its shares on the Nasdaq to attract U.S. investors and gain recognition as an eye drug specialist, its chief executive told Reuters.
Nicox has been refocusing its business around ophthalmology drugs - a market worth $20 billion worldwide - since a bruising setback in 2010, when the U.S. Food and Drug Administration rejected its non-steroidal anti-inflammatory drug naproxcinod, recommending further trials to prove its safety.
Nicox shares have since lost around three quarters of their value and have been stuck around 2 euros. Over 80 percent of the stock is owned by small shareholders, mainly in France.
Chief Executive Michele Garufi believes Nicox is greatly undervalued. Investors in Europe have not forgiven the company for the naproxcinod debacle, but they would probably be much more supportive in the United States, he said.
"In the United States, if you fail you can start over. In Europe, you come off as a bunch of idiots, as incompetent or dishonest. There may be other places where Nicox is better appreciated," Garufi told Reuters in an interview.
However, he said that at this stage he hadn't drawn up detailed plans and didn't intend to delist from Paris.
"We may consider a dual listing and bringing in more U.S. shareholders... I'm convinced that a listing on the Nasdaq would be a success," he added.
Nicox had revenue of under $1 million last year, never posted a profit and Garufi said he did not see it break even before 2017.
SHARE ISSUE
A dual listing would make all the more sense after Nicox recently agreed to buy U.S. company Aciex Therapeutics, whose eye allergy drug just posted positive Phase III results, the final stage of trials before regulatory approval can be sought. Garufi said Nicox hoped with this product to clinch 5-10 percent of the $800-million U.S. allergic conjunctivitis market.
The Aciex deal could cost up to $120 million in newly issued Nicox shares, depending on the drug's performance, but needs to be approved by shareholders when they meet on Oct. 22.
At an investor conference on Friday, small shareholders expressed frustration at the stock's underperformance, the company's recent acquisitions and issuing of new shares, fearing a further dilution of their investment. Several had questions about the lost prospects of naproxcinod.
"We can't rewrite history, we're thinking about the future," Garufi told them, touting the firm's new portfolio of eye drugs.
Nicox and its partner Bausch + Lomb, a division of Valeant Pharmaceuticals, last month unveiled positive Phase III results for their experimental glaucoma drug and said the product, if approved, could be a blockbuster.
The pair estimate that the drug, called Vesneo, could reach peak annual sales of over $1 billion worldwide and around $500 million in the United States alone. Nicox will be entitled to net royalties of 6 to 11 percent of sales, as well as milestone payments that could total $132.5 million.
Garufi described the company's market capitalisation of 170 million euros as "ridiculous" and said it was worth at least twice as much when factoring in Vesneo's prospects.
Amid the tide of mergers and acquisitions sweeping the pharmaceutical industry, Garufi said he realised his company could be an easy prey, but that he hadn't been approached.
"You can't live thinking each day you might die... You have to do everything you can to grow," he said. "If someday someone shows up wanting to buy the company, shareholders will decide." (1 US dollar = 0.7886 euro) (Editing by Emelia Sithole-Matarise)
Read more: Nicox eyes Nasdaq listing as European investors hold grudge | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
PARIS, Oct 13 (Reuters) - French pharmaceutical firm Nicox may list its shares on the Nasdaq to attract U.S. investors and gain recognition as an eye drug specialist, its chief executive told Reuters.
Nicox has been refocusing its business around ophthalmology drugs - a market worth $20 billion worldwide - since a bruising setback in 2010, when the U.S. Food and Drug Administration rejected its non-steroidal anti-inflammatory drug naproxcinod, recommending further trials to prove its safety.
Nicox shares have since lost around three quarters of their value and have been stuck around 2 euros. Over 80 percent of the stock is owned by small shareholders, mainly in France.
Chief Executive Michele Garufi believes Nicox is greatly undervalued. Investors in Europe have not forgiven the company for the naproxcinod debacle, but they would probably be much more supportive in the United States, he said.
"In the United States, if you fail you can start over. In Europe, you come off as a bunch of idiots, as incompetent or dishonest. There may be other places where Nicox is better appreciated," Garufi told Reuters in an interview.
However, he said that at this stage he hadn't drawn up detailed plans and didn't intend to delist from Paris.
"We may consider a dual listing and bringing in more U.S. shareholders... I'm convinced that a listing on the Nasdaq would be a success," he added.
Nicox had revenue of under $1 million last year, never posted a profit and Garufi said he did not see it break even before 2017.
SHARE ISSUE
A dual listing would make all the more sense after Nicox recently agreed to buy U.S. company Aciex Therapeutics, whose eye allergy drug just posted positive Phase III results, the final stage of trials before regulatory approval can be sought. Garufi said Nicox hoped with this product to clinch 5-10 percent of the $800-million U.S. allergic conjunctivitis market.
The Aciex deal could cost up to $120 million in newly issued Nicox shares, depending on the drug's performance, but needs to be approved by shareholders when they meet on Oct. 22.
At an investor conference on Friday, small shareholders expressed frustration at the stock's underperformance, the company's recent acquisitions and issuing of new shares, fearing a further dilution of their investment. Several had questions about the lost prospects of naproxcinod.
"We can't rewrite history, we're thinking about the future," Garufi told them, touting the firm's new portfolio of eye drugs.
Nicox and its partner Bausch + Lomb, a division of Valeant Pharmaceuticals, last month unveiled positive Phase III results for their experimental glaucoma drug and said the product, if approved, could be a blockbuster.
The pair estimate that the drug, called Vesneo, could reach peak annual sales of over $1 billion worldwide and around $500 million in the United States alone. Nicox will be entitled to net royalties of 6 to 11 percent of sales, as well as milestone payments that could total $132.5 million.
Garufi described the company's market capitalisation of 170 million euros as "ridiculous" and said it was worth at least twice as much when factoring in Vesneo's prospects.
Amid the tide of mergers and acquisitions sweeping the pharmaceutical industry, Garufi said he realised his company could be an easy prey, but that he hadn't been approached.
"You can't live thinking each day you might die... You have to do everything you can to grow," he said. "If someday someone shows up wanting to buy the company, shareholders will decide." (1 US dollar = 0.7886 euro) (Editing by Emelia Sithole-Matarise)
Read more: Nicox eyes Nasdaq listing as European investors hold grudge | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook
PIZZODIGINO
Pacifico
Hai ragione al 100%; ma possibile che in Italia non ci sia alcun interesse per una società che ha in seno un possibile blokbuster ?
Infatti quando ieri Garufi ha parlato di una possibile quotazione al NASDAQ, io gli ho chiesto se magari non ci si poteva quotare a Milano, mi ha detto assolutamente di no, perché qui da noi non c'è la cultura adatta a questo tipo di aziende.
Qui in Europa stiamo ancora pagando il fallimento del naproxcinod e non viene perdonato quel fatto.
PIZZODIGINO
Pacifico
Garufi non ha escluso un aumento di capitale; ha anche parlato di possibili merger con aziende della nostra taglia che valorizzino la Nicox e l'altra azienda, in modo di fare una somma che 1 + 1 dia 3.
Forse l'aumento di capitale serve proprio per questo tipo di merger.
tradermen
Forumer storico
e garufi compra la società per 100 milioni di euro..??'''
e sopratutto nn essendo sicuro che passi l' esame ddell fda..
tradermen
Forumer storico
anche prima del napro parlava del nasdaq,.... questa e stata solo una battuta tirata li al momento giusto per far salire il titolo e creare incentinvo alla prox assemblea..