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Nanobiotix (NBTX)
NASDAQ:NBTX
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Nanobiotix
(NASDAQ:NBTX)
42Neutral
Positive Factors
Clinical Progress
The upcoming Phase II study in Stage III unresectable non-small cell lung cancer is set to begin, which indicates continued progress and potential future data that could influence the company's clinical pipeline.
Financial Stability
A recent amendment of its licensing agreement with JNJ extends the company's cash runway to mid-2026, safeguarding the company's path through the interim analysis of the NANORAY-312 trial.
Partnerships
The partnership with JNJ and the ongoing collaboration are seen as supportive, enhancing the credibility and potential success of NBTXR3.
Negative Factors
Clinical and Commercial Risks
Clinical and commercial risks are acknowledged for the novel radioenhancer NBTXR3 and risks related to the company’s balance sheet.
Financial Concerns
Investor focus is expected to remain on the company's cash runway and ongoing concerns about the balance sheet, implying financial stability is a key concern for stakeholders.
Nanobiotix (NBTX) vs. S&P 500 (SPY)
Market Cap
$152.95M
Dividend YieldN/A
Average Volume (3M)10.23K
Price to Earnings (P/E)―
Beta (1Y)0.08
Revenue GrowthN/A
EPS Growth54.68%
CountryUS
Employees108
SectorHealthcare
Sector Strength69
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.80
Shares Outstanding47,133,327
10 Day Avg. Volume2,965
30 Day Avg. Volume10,233
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)4.32
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$6.83Price Target Upside116.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Nanobiotix Business Overview & Revenue Model
Company DescriptionNanobiotix (NBTX) is a pioneering biotechnology company focused on using nanotechnology to transform the treatment of cancer. The company operates in the healthcare sector, specifically within oncology, and is dedicated to developing first-in-class therapeutic solutions. Its core product, NBTXR3, is a nanoparticle designed for direct injection into cancer tumors to enhance the efficacy of radiotherapy across various cancer indications.
How the Company Makes MoneyNanobiotix generates revenue primarily through the development and commercialization of its core product, NBTXR3. The company's revenue model includes income from research and development collaborations, licensing agreements, and potential sales of its nanotechnology-based therapeutics. Key revenue streams include milestone payments from strategic partnerships with pharmaceutical companies and government grants supporting its innovative research. Significant partnerships, such as those with leading global healthcare companies, contribute to its earnings by facilitating the commercialization and distribution of its products in international markets. Additionally, Nanobiotix may receive royalties from licensed products once they reach the market.
Nanobiotix Financial Statement Overview
Summary
Nanobiotix shows significant revenue growth but remains unprofitable with ongoing operational challenges. The balance sheet is strained with negative equity, and the company relies on external financing. Improvements in cash flow management are a positive sign, but financial stability remains a concern.Income Statement
Nanobiotix shows substantial revenue growth with a 529.5% increase from the previous year, indicating strong top-line improvement. However, the company remains unprofitable with a negative net profit margin of -132.1% and an EBIT margin of -89.1%, reflecting ongoing operational challenges. The gross profit margin is healthy at 100%, but the overall profitability is affected by high operating expenses.45
Neutral
Balance Sheet
The company's balance sheet is strained with a negative stockholders' equity, indicating financial instability. The debt-to-equity ratio is not meaningful due to negative equity, but the total debt position is substantial. The equity ratio is negative, further highlighting risks in financial leverage and solvency.30
Negative
Cash Flow
Nanobiotix's cash flow shows improvement in free cash flow with a growth rate of 65.6%, suggesting better cash management. However, the operating cash flow remains negative, indicating continued reliance on external financing to support operations. The free cash flow to net income ratio is not calculable due to negative values.50
Neutral
| Breakdown | ||||
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 36.21M | 4.78M | 10.00K | 50.00K | 68.00K | Gross Profit |
| 36.21M | 3.79M | 10.00K | 50.00K | 68.00K | EBIT |
| -26.78M | -46.70M | -52.58M | -36.43M | -46.78M | EBITDA |
| -23.69M | -45.15M | -45.60M | -31.49M | -44.77M | Net Income Common Stockholders |
| -39.70M | -57.04M | -47.00M | -33.62M | -50.91M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 75.28M | 41.39M | 83.92M | 119.15M | 35.09M | Total Assets |
| 93.90M | 59.77M | 101.77M | 134.03M | 56.20M | Total Debt |
| 50.56M | 53.17M | 46.02M | 48.98M | 44.53M | Net Debt |
| -24.72M | 11.78M | -37.90M | -70.17M | 9.43M | Total Liabilities |
| 95.74M | 86.81M | 74.98M | 63.56M | 58.11M | Stockholders Equity |
| -1.84M | -27.05M | 26.79M | 70.47M | -1.91M |
| Cash Flow | Free Cash Flow | |||
| -12.81M | -37.20M | -30.11M | -27.64M | -42.61M | Operating Cash Flow |
| -12.48M | -37.10M | -29.87M | -27.54M | -41.17M | Investing Cash Flow |
| -349.00K | 138.00K | -242.00K | -112.00K | -1.46M | Financing Cash Flow |
| 46.77M | -5.65M | -5.18M | 111.77M | 41.49M |
Nanobiotix Technical Analysis
Negative
3.15
Price Trends
3.48
Negative
3.35
Negative
4.12
Negative
Market Momentum
-0.06
Positive
42.26
Neutral
30.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NBTX, the sentiment is Negative. The current price of 3.15 is below the 20-day moving average (MA) of 3.32, below the 50-day MA of 3.48, and below the 200-day MA of 4.12, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 42.26 is Neutral, neither overbought nor oversold. The STOCH value of 30.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NBTX.
Nanobiotix Risk Analysis
Nanobiotix disclosed 72 risk factors in its most recent earnings report. Nanobiotix reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nanobiotix Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $5.31B | 3.39 | -40.42% | 2.90% | 18.11% | 2.25% | |
48 Neutral | $166.74M | ― | -33.54% | ― | -27.77% | 13.82% | |
46 Neutral | $167.68M | ― | -160.99% | ― | -42.35% | 42.43% | |
45 Neutral | $166.35M | ― | -187.83% | ― | -67.20% | 64.66% | |
42 Neutral | $152.95M | ― | 2152.93% | ― | ― | 54.68% | |
38 Underperform | $206.26M | ― | -50.84% | ― | ― | 43.21% | |
36 Underperform | $220.24M | ― | -19.08% | ― | ― | 26.63% |
* Healthcare Sector Average
Performance Comparison
NBTX
Nanobiotix
3.19
-2.62
-45.09%
SGMO
Sangamo Biosciences
0.74
0.22
42.31%
ANNX
Annexon Biosciences
1.89
-2.81
-59.79%
IPHA
Innate Pharma
1.98
-0.49
-19.84%
DSGN
Design Therapeutics
3.88
0.16
4.30%
MOLN
Molecular Partners
4.08
0.38
10.27%
Nanobiotix Earnings Call Summary
Earnings Call Date:Apr 02, 2025
(Q4-2024)
| % Change Since: -7.35%|
Next Earnings Date:May 14, 2025
Earnings Call Sentiment Neutral
The call highlighted significant strategic progress with the JNJ collaboration and pipeline advancements, along with a strong financial strategy to extend cash runway. However, financial performance showed challenges with negative revenue and increased net loss.Q4-2024 Updates
Positive Updates
JNJ Collaboration
Signed a $2.6 billion plus royalties agreement with JNJ, focusing initially on lung and head and neck cancers, representing a potential $10 billion market.
Pipeline Progress
Significant pipeline developments including the NANORAY-312 Phase 3 study in head and neck cancer and the CONVERGE Phase 2 study in lung cancer.
Curadigm Platform Launch
Launched a new first-in-class nanotherapeutic platform, Curadigm, which has potential applications in multiple therapeutic areas.
Financial Strategy and Cash Runway
Extended cash runway to mid-2026 through an amendment to the JNJ agreement, and exploring nondilutive financing options to extend it to 2027.
Negative Updates
Financial Performance
Reported negative revenue of €7.2 million in 2024 due to a one-time non-cash negative revenue impact from the transfer of NANORAY-312 sponsorship to Janssen.
R&D Expenses
R&D expenses increased by 5% to €40.5 million, mainly due to costs related to NANORAY-312 and other clinical trials.
Net Loss
Net loss attributable to shareholders increased by 72% to €68.1 million, primarily due to the one-off negative revenue recognition impact.
Company Guidance
During the Nanobiotix Business Update and Full Year 2024 Financial Results Conference Call, significant guidance was provided regarding the company's financial and operational outlook. Nanobiotix reported a net loss of €68.1 million for 2024, largely due to a non-cash negative revenue recognition impact from the transfer of NANORAY-312 study sponsorship to Janssen, which resulted in negative revenue of €7.2 million. The company highlighted that its cash and cash equivalents stood at €49.7 million as of December 31, 2024, projecting this to fund operations into mid-2026. Notably, Nanobiotix anticipates potential medium-term milestones exceeding $200 million from its collaboration with Johnson & Johnson (JNJ). This collaboration includes a $2.6 billion deal plus royalties, with recent amendments extending the company's cash runway by removing most funding obligations for NANORAY-312. The company also emphasized its strategic focus on the Curadigm platform and potential nondilutive financing options to further extend cash visibility into 2027.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.