Jefferies resumes Nanobiotix at 'buy' as JNJ deal provides 'big pharma muscle'

Nanobiotix SA

25/08/2023 08:28

** Jefferies resumes coverage of Nanobiotix  NANOB.PA  with
a "buy" rating, citing benefits from the biotechnology company's
partnership with Johnson & Johnson's (JNJ) Janssen for
experimental cancer therapy NBTXR3
    ** "We are enthused on the broad potential for NBTXR3
treating solid cancers," Jefferies says, adding that the
partnership "provides heavy-weight external validation" and "big
pharma muscle" for the treatment 
    ** The broker raises Nanobiotix TP by 53% to EUR 13.00
    ** In July Nanobiotix announced a licensing, co-development
and commercialization deal with Johnson & Johnson's Janssen
 JNJ.N  for NBTXR3
    ** "Our model suggests $30m upfront, $5m Janssen planned
equity investment, plus potential $30m developmental support for
head & neck (H&N) Phase III, extends cash runway into 2Q24E,"
-Jefferies says
    ** More equity investments from Janssen and a potential
$25-million capital raise, as well as other financing, could
extend the company's cash runway into 2025, the broker adds
    ** Out of five analysts covering Nanobiotix, 4 rate it
"strong buy", and one rates the stock "buy"
    ** The stock is up 2.7% in morning trade 

    

    
    

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))