Nanobiotix (NBTX) AI Stock Analysis

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Nanobiotix

(NASDAQ:NBTX)

Rating:56Neutral

Price Target:

$6.50

▲(0.00%Upside)

Nanobiotix's stock score is primarily impacted by significant financial instability, marked by declining revenues and negative profitability. However, the stock's strong technical momentum provides a counterbalance, suggesting potential short-term interest despite the company's broader financial challenges. Valuation concerns persist due to the negative P/E ratio, reflecting non-profitability.

Positive Factors

Clinical Trials and Data

The updated pancreatic cancer data showed a median overall survival of 23 months, which compares favorably to the historical control of 19.2 months, demonstrating the potential effectiveness of the treatment.

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 and Collaborations

The partnership with JNJ and the ongoing collaboration are seen as supportive, enhancing the credibility and potential success of NBTXR3.

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.

Nanobiotix (NBTX) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$291.61M

Dividend YieldN/A

Average Volume (3M)5.91K

Price to Earnings (P/E)―

Beta (1Y)0.74

Revenue GrowthN/A

EPS GrowthN/A

CountryUS

Employees108

SectorHealthcare

Sector Strength37

IndustryBiotechnology

Share Statistics

EPS (TTM)N/A

Shares Outstanding47,133,327

10 Day Avg. Volume3,978

30 Day Avg. Volume5,910

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

$8.50

Price Target Upside30.77% Upside

Rating ConsensusModerate Buy

Number of Analyst Covering2

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 makes money primarily through the development and commercialization of its lead product, NBTXR3. The company generates revenue through collaborations, licensing agreements, and sales of its product to healthcare institutions and clinics. Key revenue streams include milestone payments from strategic partnerships, such as those with pharmaceutical companies that help to co-develop and distribute NBTXR3. Additionally, Nanobiotix may earn revenue through grants and funding from research institutions. The company's financial success is closely tied to the clinical success and market adoption of its products, as well as regulatory approvals in various jurisdictions.

Nanobiotix Earnings Call Summary

Earnings Call Date:May 21, 2025

(Q4-2024)

% Change Since: 78.57%|

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

Negative

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.

Balance Sheet

Very Negative

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.

Cash Flow

Negative

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.

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

Technical Analysis Sentiment

Positive

Last Price6.50

Price Trends

50DMA

4.65

Positive

100DMA

4.01

Positive

200DMA

3.88

Positive

Market Momentum

MACD

0.32

Negative

RSI

74.80

Negative

STOCH

58.16

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 6.5 is above the 20-day moving average (MA) of 5.15, above the 50-day MA of 4.65, and above the 200-day MA of 3.88, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 74.80 is Negative, neither overbought nor oversold. The STOCH value of 58.16 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
NBTX	56 Neutral	$291.61M	―	2152.93%	―	―	―
Sector *	52 Neutral	$7.61B	0.10	-63.03%	2.08%	16.34%	0.32%
SGMO	49 Neutral	$133.87M	―	-262.12%	―	239.92%	79.41%
MOLN	49 Neutral	$162.62M	―	-40.40%	―	-67.23%	4.11%
IPHA	47 Neutral	$192.87M	―	-160.99%	―	-75.67%	-552.37%
DSGN	47 Neutral	$229.35M	―	-22.59%	―	―	26.63%
ANNX	38 Underperform	$272.09M	―	-66.13%	―	―	43.21%

* Healthcare Sector Average

Performance Comparison

NBTX

Nanobiotix

6.50

1.17

21.95%

SGMO

Sangamo Biosciences

0.60

-0.26

-30.23%

ANNX

Annexon Biosciences

2.55

-3.69

-59.13%

IPHA

Innate Pharma

2.03

-0.10

-4.69%

DSGN

Design Therapeutics

4.04

-1.21

-23.05%

MOLN

Molecular Partners

4.00

-2.35

-37.01%

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.Date of analysis: Jul 25, 2025