Nanobiotix Extends Cash Runway with Promising Clinical Updates
Nanobiotix made significant strides in its cancer nanotherapeutics and bolstered its cash runway into 2029. The company's lead product candidate, JNJ-1900 (NBTXR3), demonstrated strong safety and local control data from a Phase 1 study in inoperable, recurrent NSCLC.
The Phase 2 CONVERGE trial in unresectable Stage 3 NSCLC showed high response rates in an early cohort. Additionally, Nanobiotix secured U.S. FDA clearance for a protocol amendment to the global Phase 3 NANORAY-312 head and neck cancer study, simplifying its path to final analysis and potentially accelerating key readouts.
The company also strengthened its balance sheet with an oversubscribed global follow-on offering that raised about €86 million. This lifted cash and cash equivalents to €110.9 million at mid-year, extending its runway into 2029 despite a widened net loss of €34.3 million.