NANOBIOTIX Provides First Quarter 2024 Operational and Financial Update
NANOBIOTIX (Euronext: NANO, NASDAQ: NBTX), a late-clinical stage biotech company, released its Q1 2024 operational and financial update on May 22, 2024. The company reported cash and cash equivalents of €58.9 million as of March 31, 2024, which, along with a $20 million milestone payment, is projected to fund operations into Q3 2025. NANOBIOTIX will hold a conference call and webcast to discuss these updates and take questions. The CEO, Laurent Levy, will lead the session.
- Cash and cash equivalents of €58.9 million as of March 31, 2024.
- Additional $20 million milestone payment received.
- Funding projected to last into Q3 2025.
- No mention of any new partnerships or significant business developments.
- Potential concern about reliance on milestone payments for extended cash flow.
- information on revenue generation and profitability.
Insights
Let's look at Nanobiotix's cash and cash equivalents, which stood at
However, it's always critical to examine burn rate. Nanobiotix’s ongoing expenses and the pace at which it uses its funds will determine its financial health. Although the milestone payment is a positive injection, investors should keep an eye on future funding rounds or partnership deals to gauge sustainability. In the short term, the company is financially stable, but potential dilution from new equity issuances or debt funding could impact per-share value.
Another point of interest is how well the company manages its resources. Given that biotechs often operate at a loss for extended periods due to high R&D costs, the ability to stretch available cash is crucial. Investors should also consider the broader market context and sector-specific trends which could affect Nanobiotix's stock performance.
Nanobiotix is pioneering physics-based approaches in oncology, a field with extensive competition and high stakes. The company is in a late-clinical stage, which typically means it has promising results from earlier trials and is now in the more costly and time-consuming phase of demonstrating efficacy in larger, more diverse patient populations.
The physics-based approach is innovative and could differentiate Nanobiotix from competitors, potentially leading to a unique market position. This could also mean accelerated approval if the technology shows significant benefits over existing treatments. Investors should watch for updates on clinical trial progress, FDA interactions and potential partnerships with larger pharmaceutical companies which could provide both validation and financial support.
Understanding the technological edge and potential clinical outcomes will help investors gauge whether the company’s innovations can translate into successful market adoption and profitability. Milestones in trial phases and regulatory feedback are critical indicators of future performance.
PARIS and CAMBRIDGE, Mass., May 22, 2024 (GLOBE NEWSWIRE) -- NANOBIOTIX (Euronext: NANO –– NASDAQ: NBTX – the ‘‘Company’’), a late-clinical stage biotechnology company pioneering physics-based approaches to expand treatment possibilities for patients with cancer, today provided an update on operational progress and reported financial results for the first quarter of 2024.
First Quarter Financial Updates
Cash and Cash Equivalents:
Based on the current operating plan and financial projections, Nanobiotix anticipates that the cash and cash equivalents of
Conference Call and Webcast
Nanobiotix will host a conference call and live audio webcast today on Wednesday, May 22, 2024, at 8:00 AM EDT / 2:00 PM CEST, prior to the open of the U.S. market. During the call, Laurent Levy, chief executive officer, will provide an update on business activities before taking questions from participants.
Details for the call are as follows:
Audio-only dial-in link: click here
Webcast link: click here
Participants can use the audio-only link above to register and obtain dial-in instructions to listen to the presentation via phone and ask questions during the Q&A session, or participants can use the webcast link to register and listen and watch the slide presentation online; the replay version will be available under the same webcast link shortly after the presentation and will be archived on the Company’s website at www.nanobiotix.com. It is recommended to join 10 minutes prior to the event start. Participants are invited to email their questions in advance to investors@nanobiotix.com.
About NANOBIOTIX
Nanobiotix is a late-stage clinical biotechnology company pioneering disruptive, physics-based therapeutic approaches to revolutionize treatment outcomes for millions of patients; supported by people committed to making a difference for humanity. The Company’s philosophy is rooted in the concept of pushing past the boundaries of what is known to expand possibilities for human life.
Incorporated in 2003, Nanobiotix is headquartered in Paris, France and is listed on Euronext Paris since 2012 and on the Nasdaq Global Select Market in New York City since December 2020. The Company has subsidiaries in Cambridge, Massachusetts (United States) amongst other locations.
Nanobiotix is the owner of more than 25 patent families associated with three (3) nanotechnology platforms with applications in 1) oncology; 2) bioavailability and biodistribution; and 3) disorders of the central nervous system.
For more information about Nanobiotix, visit us at www.nanobiotix.com or follow us on LinkedIn and Twitter.
Disclaimer
This press release contains “forward-looking” statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the use of proceed therefrom, and the period of time through which the Company’s anticipates its financial resources will be adequate to support operations. Words such as “expects”, “intends”, “can”, “could”, “may”, “might”, “plan”, “potential”, “should” and “will” or the negative of these and similar expressions are intended to identify forward-looking statements. These forward-looking statements, which are based on our management’s current expectations and assumptions and on information currently available to management. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those implied by the forward-looking statements, including risks related to Nanobiotix’s business and financial performance, which include the risk that assumptions underlying the Company’s cash runway projections are not realized. Further information on the risk factors that may affect company business and financial performance is included in Nanobiotix’s Annual Report on Form 20-F filed with the SEC on April 24, 2024 under “Item 3.D. Risk Factors”, in Nanobiotix’s 2023 universal registration document filed with the AMF on April 24, 2024, and subsequent filings Nanobiotix makes with the SEC from time to time which are available on the SEC’s website at www.sec.gov. The forward-looking statements included in this press release speak only as of the date of this press release, and except as required by law, Nanobiotix assumes no obligation to update these forward-looking statements publicly.
Contacts
| Nanobiotix | |
| Communications Department Brandon Owens VP, Communications +1 (617) 852-4835 contact@nanobiotix.com | Investor Relations Department Craig West SVP, Investor Relations +1 (617) 583-0211 investors@nanobiotix.com |
| Media Relations | |
FR – Ulysse Communication Laurent Wormser + 33 (0)6 13 12 04 04 lwormser@ulysse-communication.com | Global – LifeSci Advisors Kevin Gardner +1 (617) 283-2856 kgardner@lifesciadvisors.com |
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FAQ
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