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NBTX

Nanobiotix S.A.

NBTX

Nanobiotix S.A. • NASDAQ
$20.69 ▲ 1.52% (+0.31)
Market Cap $982.19 M
52w High $30.35
52w Low $2.76
Dividend Yield 0%
P/E -16.42
Volume 29.25K
Outstanding Shares 47.47M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $26.638M ▲ $25.83M ▲ $-5.383M ▲ -20.208% ▼ $-0.11 ▲ $1.091M ▲
Q4-2024 $-20.898M ▼ $23.842M ▼ $-46.26M ▼ 221.361% ▲ $-0.98 ▼ $-35.08M ▼
Q2-2024 $9.289M ▼ $32.941M ▼ $-21.872M ▼ -235.461% ▼ $-0.46 ▼ $-23.244M ▼
Q4-2023 $32.915M ▲ $34.324M ▲ $-11.601M ▲ -35.245% ▲ $-0.3 ▲ $1.413M ▲
Q2-2023 $3.293M $28.663M $-28.099M -853.295% $-0.8 $-24.635M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $28.818M ▼ $45.174M ▼ $114.126M ▼ $-68.952M ▼
Q4-2024 $49.737M ▼ $67.418M ▼ $133.121M ▲ $-65.703M ▼
Q2-2024 $66.335M ▼ $86.68M ▼ $108.457M ▲ $-21.777M ▼
Q4-2023 $75.283M ▲ $93.897M ▲ $95.741M ▲ $-1.844M ▲
Q2-2023 $21.629M $40.407M $94.191M $-53.784M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-5.383M ▲ $-17.411M ▼ $-162K ▲ $-2.83M ▼ $28.818M ▼ $-17.561M ▼
Q4-2024 $-46.26M ▼ $-13.715M ▼ $-455K ▲ $-2.48M ▲ $54.211M ▲ $-14.074M ▼
Q2-2024 $-21.872M ▼ $-5.836M ▼ $-500K ▼ $-2.655M ▼ $-4.474M ▼ $-6.325M ▼
Q4-2023 $-11.601M ▲ $4.799M ▲ $-22K ▲ $48.909M ▲ $53.654M ▲ $4.794M ▲
Q2-2023 $-28.099M $-17.576M $-327K $-1.837M $-16.947M $-17.9M

Revenue by Products

Product Q2-2021
Other Sales
Other Sales
 $0 ▲
Services
Services
 $0 ▲

Five-Year Company Overview

Income Statement

Income Statement Nanobiotix looks like a classic late‑stage biotech story: very little recurring revenue so far, with income mainly tied to partnership and one‑off items rather than product sales. The company has been loss‑making every year, reflecting heavy spending on research, clinical trials, and overhead. Losses have been fairly persistent rather than exploding, but there is not yet a clear move toward operating profitability. Overall, this is still very much a development‑stage income profile, where the business case depends on future approvals and commercialization rather than current earnings.

Balance Sheet

Balance Sheet The balance sheet is lean and dominated by cash and similar liquid resources, which is typical for a clinical‑stage biotech. Debt has stayed relatively steady, which helps with predictability but still matters given the company’s size. Equity has slipped into negative territory more recently, signaling accumulated losses have overtaken the company’s historical capital base. That combination — modest cash, fixed debt, and negative equity — underlines reliance on external financing and partnership milestones to support ongoing operations.

Cash Flow

Cash Flow Cash flow reflects a company that is consistently spending more than it brings in, largely to fund R&D and trials. Operating cash burn has been continuous, though not wildly volatile, and free cash flow essentially mirrors this pattern because capital spending on physical assets is minimal. This means almost every euro spent is going into people, trials, and innovation rather than buildings or equipment. The key implication is that the business model depends on fresh cash from equity raises, partners, or potential future milestones until a product meaningfully contributes to cash inflows.

Competitive Edge

Competitive Edge Nanobiotix occupies a differentiated niche in oncology by focusing on a physics‑based radioenhancer rather than a typical biological drug. Being early and potentially first in this category, with a product already bearing a European quality mark for one indication, gives it a real head start. The global alliance with Janssen adds scale, credibility, and commercial muscle that small biotechs usually lack. However, the company is still highly dependent on a single core asset and must compete against a crowded cancer landscape that includes radiotherapy innovators, immuno‑oncology players, and large pharma companies with deep resources. Success will depend on clear clinical advantages and smooth execution with its partner.

Innovation and R&D

Innovation and R&D Innovation is the centerpiece of Nanobiotix’s story. The lead candidate aims to boost the effect of standard radiotherapy and may also help stimulate the immune system, opening doors to combinations with modern immunotherapies. The platform has potential reach across many solid tumors, which is a major upside if the science continues to hold up in larger trials. The pipeline includes late‑stage work in head and neck cancer, earlier efforts in lung and other tumors, and exploratory platforms beyond oncology. At the same time, this is high‑risk R&D: timelines are long, pivotal data are still ahead, and a lot of value hinges on a few key studies reading out well and leading to regulatory approvals.

Summary

Nanobiotix is a science‑driven biotech with a distinctive technology and a strong pharmaceutical partner, but it remains firmly in the development phase financially. The company runs recurring losses, burns cash to fund trials, and carries a stretched balance sheet that depends on external capital and milestone payments. On the strategic side, it has a potentially first‑in‑class product with broad applications in radiotherapy‑treated cancers and encouraging early validation, which creates meaningful upside if late‑stage results are positive. Overall, this is a high‑innovation, high‑uncertainty profile where future clinical and regulatory outcomes will largely determine whether today’s investments translate into a more durable and profitable business model.

NEWS

November 24, 2025 · 4:15 PM UTC

Nanobiotix Provides Third Quarter 2025 Operational and Financial Update Along With 2026 Clinical Outlook

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November 13, 2025 · 4:15 PM UTC

NANOBIOTIX Announces Curadigm Nanoprimer Platform Advancements With Updated Plans for Internal Pipeline Development and External Collaborations

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November 3, 2025 · 4:15 PM UTC

NANOBIOTIX to Participate in Investor Conferences the Week of November 10th

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October 31, 2025 · 3:00 AM UTC

NANOBIOTIX Announces Strategic Royalty Monetization Agreement With Healthcare Royalty for up to $71 Million and Extends Cash Runway Toward Long-Term Growth

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October 1, 2025 · 4:15 PM UTC

NANOBIOTIX Announces First Data From Phase 1 Study Evaluating JNJ-1900 (NBTXR3) for Patients With Esophageal Cancer

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