(CercleFinance.com) – Nanobiotix fell 4% on Wednesday on the Paris Stock Exchange after announcing an update of its strategy with a view to the potential marketing of its main drug candidate by Janssen, a subsidiary of Johnson & Johnson .
The biotechnology company notably announced that it had decided to cancel the futility analysis planned as part of the phase 3 study evaluating NBTXR3 in the treatment of locally advanced head and neck cancer.
For Nanobiotix, this study can now be considered obsolete after obtaining positive phase 1 data in a similar population.
‘This was the main catalyst expected in the short term, the data was to be disclosed in the second half of 2024, after having already been postponed compared to the initial schedule’, react the analysts at Invest Securities.
In order to optimize the regulatory process, the company now plans to carry out the interim analysis after the recruitment of the last patient expected in the first half of 2026, and no longer during 2025.
In its press release, Nanobiotix said today that it is examining options to extend the company’s cash flow beyond the current forecast for the third quarter of 2025.
As of March 31, Nanobiotix had cash of €58.9 million to fund its operations through the third quarter of 2025, taking into account the $20 million milestone payment from Janssen now received.
Shortly before 12:00 p.m., the stock fell by almost 4% in the wake of this information.
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