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NicOx Reports Results for the First Three Quarters of 2008

ptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated in the forward-looking statements.

For a discussion of risks and uncertainties which could cause actual results, financial condition, performance or achievements of NicOx S.A. to differ from those contained in the forward-looking statements, please refer to the Risk Factors ("Facteurs de Risque") section of the Document de Reference filed with the AMF, which is available on the AMF website ( or on NicOx S.A.'s website (

Consolidated Income Statement

Period of 9 months ended on

September 30, 2008 September 30, 2007

(in thousands of EUR except for per share data)

Revenues 2,943 18,398

Cost of goods and services (620) (1,647)


Research and development expenses (51,348) (28,501)

Administrative and selling expenses (8,434) (8,811)

Other products 3,267 3,180

Operating loss (54,192) (17,381)

Net financial income 4,649 3,703

Loss before income (49,543) (13,678)


Income tax expense (198) (27)

Loss for the period (49,741) (13,705)

Attributable to:

- Equity holders of the Company (49,741) (13,705)

- minority interests -

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