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Nanobiotix Skyrockets On Multi-Million Dollar NBTXR3 Deal

  • July 10th, 2023
  • 290 views

Shares of Nanobiotix S.A. (Nasdaq: NBTX) surged over 50% in pre-market trading following the announcement of a global licensing and commercialization agreement with Janssen Pharmaceutica NV, a subsidiary of Johnson & Johnson (NYSE: JNJ).

The agreement pertains to the potential first-in-class radioenhancer NBTXR3, which is currently being evaluated in various studies for the treatment of solid tumors, including head and neck cancer and metastatic cancers.

Under the terms of the agreement, Nanobiotix will grant Janssen an exclusive worldwide license for the development and commercialization of NBTXR3, while Nanobiotix retains control of ongoing studies and manufacturing.

Nanobiotix will receive upfront cash, operational support valued up to $60 million, and success-based payments of up to $1.8 billion based on development, regulatory, and sales milestones. Additionally, Nanobiotix may receive equity investments of up to $30 million from Johnson & Johnson Innovation – JJDC, Inc.

Following commercialization, Nanobiotix will receive tiered double-digit royalties on net sales of NBTXR3. The transaction is subject to customary closing conditions and regulatory clearances.

$NBTX is currently trading at $8.15 in pre-market, up $3.12 (62.03%) following the announcement.

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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