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Nanobiotix Sa ADR (NBTX)
:NBTX
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Nanobiotix
(NASDAQ:NBTX)
Rating:44Neutral
Price Target:
$4.00
▼(-17.86%Downside)
Positive Factors
Clinical Trials and Research Progress
The partnership with JNJ and the ongoing collaboration are seen as supportive, enhancing the credibility and potential success of NBTXR3.
Drug Development and Commercial Potential
The totality of the NBTXR3 data and the JNJ collaboration is seen as supportive and there is potential for NBTXR3 in areas that represent large commercial opportunities.
Financial Stability and Strategic Partnerships
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.
Negative Factors
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.
Investor Sentiment
Investor focus will largely remain on the company's cash runway and the ongoing Phase III NANORAY-312 study in LA HNSCC.
Nanobiotix (NBTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$237.83M
Dividend YieldN/A
Average Volume (3M)6.61K
Price to Earnings (P/E)―
Beta (1Y)0.86
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees108
SectorHealthcare
Sector Strength39
IndustryBiotechnology
Share Statistics
EPS (TTM)N/A
Shares Outstanding47,133,327
10 Day Avg. Volume1,959
30 Day Avg. Volume6,608
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)-4.42
Price to Sales (P/S)0.00
P/FCF Ratio-3.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$9.00Price Target Upside84.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Nanobiotix Business Overview & Revenue Model
Company DescriptionNanobiotix S.A., a clinical-stage biotechnology, focuses on developing product candidates for the treatment of cancer. Its lead product candidate is NBTXR3, a sterile aqueous suspension of crystalline hafnium oxide nanoparticles used for the treatment of soft tissue sarcoma, head and neck cancers, liver cancers, prostate cancer, pancreatic cancer, esophageal cancer, rectal cancer, and non-small cell lung cancer. Nanobiotix S.A. has a partnership with LianBio to develop and commercialize NBTXR3 in Greater China, South Korea, Singapore, and Thailand. The company was incorporated in 2003 and is headquartered in Paris, France.
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 Earnings Call Summary
Earnings Call Date:May 21, 2025
(Q4-2024)
| % Change Since: 33.79%|
Next Earnings Date:Sep 04, 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.Nanobiotix Financial Statement Overview
Summary
Nanobiotix's financial performance is extremely poor, with deeply negative revenue, profitability, and equity. The company is highly leveraged and faces significant financial distress, raising concerns about its long-term viability.Income Statement
Nanobiotix shows significant revenue volatility, with a notable decline in total revenue from $36.2 million in 2023 to a negative $11.6 million in 2024. The gross profit margin is negative, and both EBIT and EBITDA margins are deeply negative, indicating operational losses. The company has been unable to achieve profitability, with a consistent net loss over the years.30
Negative
Balance Sheet
The balance sheet reflects financial instability, with a negative stockholders' equity of $65.7 million in 2024. The significant increase in total liabilities, combined with persistent negative equity, suggests high leverage and potential solvency issues. The debt-to-equity ratio is not calculable due to negative equity, further highlighting financial distress.20
Very Negative
Cash Flow
Nanobiotix's cash flow situation is concerning, with persistent negative operating and free cash flows. The free cash flow has deteriorated further from 2023 to 2024. Despite negative cash flows, the company has managed some financing activities, although these have decreased recently, potentially impacting liquidity.35
Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | -11.61M | 36.21M | 4.78M | 10.00K | 50.00K |
| Gross Profit | -11.61M | 36.21M | 3.79M | 10.00K | 50.00K |
| EBITDA | -58.32M | -23.69M | -45.15M | -45.60M | -31.49M |
| Net Income | -68.13M | -39.70M | -57.04M | -47.00M | -33.62M |
Balance Sheet | |||||
| Total Assets | 67.42M | 93.90M | 59.77M | 101.77M | 134.03M |
| Cash, Cash Equivalents and Short-Term Investments | 49.74M | 75.28M | 41.39M | 83.92M | 119.15M |
| Total Debt | 50.90M | 50.56M | 53.17M | 46.02M | 48.98M |
| Total Liabilities | 133.12M | 95.74M | 86.81M | 74.98M | 63.56M |
| Stockholders Equity | -65.70M | -1.84M | -27.05M | 26.79M | 70.47M |
Cash Flow | |||||
| Free Cash Flow | -20.40M | -12.81M | -37.20M | -30.11M | -27.64M |
| Operating Cash Flow | -19.55M | -12.48M | -37.10M | -29.87M | -27.54M |
| Investing Cash Flow | -955.00K | -349.00K | 138.00K | -242.00K | -112.00K |
| Financing Cash Flow | -5.13M | 46.77M | -5.65M | -5.18M | 111.77M |
Nanobiotix Technical Analysis
Positive
4.87
Price Trends
4.08
Positive
3.80
Positive
3.86
Positive
Market Momentum
0.15
Positive
57.92
Neutral
54.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NBTX, the sentiment is Positive. The current price of 4.87 is above the 20-day moving average (MA) of 4.74, above the 50-day MA of 4.08, and above the 200-day MA of 3.86, indicating a bullish trend. The MACD of 0.15 indicates Positive momentum. The RSI at 57.92 is Neutral, neither overbought nor oversold. The STOCH value of 54.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $7.50B | 0.31 | -61.87% | 2.27% | 17.10% | 1.59% | |
47 Neutral | $129.30M | ― | -262.12% | ― | 239.92% | 79.41% | |
47 Neutral | $214.02M | ― | -22.59% | ― | ― | 26.63% | |
45 Neutral | $165.65M | ― | -160.99% | ― | -75.67% | -552.37% | |
45 Neutral | $151.76M | ― | -40.40% | ― | -67.23% | 4.11% | |
44 Neutral | $237.83M | ― | 2152.93% | ― | ― | ― | |
38 Underperform | $317.07M | ― | -66.13% | ― | ― | 43.21% |
* Healthcare Sector Average
Performance Comparison
NBTX
Nanobiotix
4.87
-0.43
-8.11%
SGMO
Sangamo Biosciences
0.53
0.21
65.63%
ANNX
Annexon Biosciences
2.89
-1.89
-39.54%
IPHA
Innate Pharma
1.84
-0.31
-14.42%
DSGN
Design Therapeutics
3.77
0.27
7.71%
MOLN
Molecular Partners
3.73
-2.76
-42.53%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.