(Photo credits: Nanobiotix – )
**Jefferies resumes Nanobiotix NANOB.PA coverage with a buy note, citing the benefits of the biotech company’s partnership with Johnson & Johnson’s (JNJ) Janssen for experimental cancer therapy NBTXR3
** “We are excited about the vast potential of NBTXR3 in the treatment of solid cancers,” says Jefferies, adding that the partnership “provides weighty external validation” and “great pharmaceutical strength” for the treatment.
** The broker raises the TP of Nanobiotix by 53% to 13 euros
** In July, Nanobiotix announced a licensing, co-development and commercialization agreement (link) with Johnson & Johnson’s Janssen JNJ.N for NBTXR3
**Our model suggests an initial investment of $30 million, an expected equity investment of $5 million from Janssen, plus potential support of $30 million for Head and Neck (H&N) Phase III development , which extends financial leeway into the second quarter of the year 24,” says Jefferies
** Further Janssen equity investments and a potential $25 million capital raise, along with other financing, could extend the company’s headroom into 2025, the broker adds
** Of the five analysts who cover Nanobiotix, four consider the stock “strongly bought”, and one considers it “bought”
** The stock is up 2.7% in the morning