Nanobiotix shares were down 4% on the Paris Bourse on Wednesday, after announcing a strategy update in view of the potential commercialization of its lead drug candidate by Janssen, a subsidiary of Johnson & Johnson.

The biotech company announced, among other things, that it had decided to eliminate 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 following the positive Phase 1 data obtained in a similar population.

'This was the main catalyst expected in the short term, with data due to be disclosed in the second half of 2024, having already been postponed from the original timetable', reacted analysts at Invest Securities.

In order to optimize the regulatory process, the company now plans to conduct the interim analysis after the last patient has been enrolled, expected in the first half of 2026, rather than during 2025.

In its press release, Nanobiotix said today that it is examining options for extending the company's cash position beyond the current guidance of Q3 2025.

As of March 31, Nanobiotix had €58.9 million in cash to fund operations through Q3 2025, taking into account the $20 million milestone payment from Janssen which has now been received.

Shortly before 12:00 p.m., the stock was down nearly 4% in the wake of this news.

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