France's Nanobiotix 2025 net loss narrows as revenue rebounds

Nanobiotix SA

31/03/2026 21:39

Overview

France biotechnology firm's 2025 revenue rose to €32.6 mln, reversing prior yr decline

Net loss for 2025 narrowed to €24.0 mln, reflecting reduced R&D expenses and funding obligations

Company extended cash runway into early 2028 after $71 mln royalty financing agreement

Outlook

Company expects cash and cash equivalents to fund operations into early 2028, excluding milestone receipts

Clinical data readouts expected in 2026 from Phase 1 and 2 studies in NSCLC, pancreatic cancer, melanoma and esophageal cancer

Company says development programs in head and neck and lung cancer proceeding as planned

Result Drivers

LICENSING AGREEMENT AMENDMENT - Revenue rise was driven by an amendment to the Janssen licensing agreement, reducing Nanobiotix's funding obligation for the NANORAY-312 study and resulting in a one-off positive revenue recognition impact

PRODUCT SALES AND SERVICES - Additional revenue came from clinical product sales and technology transfer services to Janssen, and research tax credits

LOWER R&D EXPENSES - R&D expenses dropped 43% year-over-year, mainly reflecting the removal of funding obligations on the NANORAY-312 study and decreased clinical development costs

Company press release: ID:nGNE4rdJcn

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
EUR 32.60 mln
FY Net Income
-EUR 24 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Nanobiotix SA is €22.50, about 13% below its March 31 closing price of €25.85

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)