Promising Clinical Developments and Strategic Partnerships Propel Nanobiotix to a Buy Rating

Analyst Swayampakula Ramakanth of H.C. Wainwright maintained a Buy rating on Nanobiotix (0QAV – Research Report), retaining the price target of €10.00.

Swayampakula Ramakanth’s rating is based on several promising developments within Nanobiotix’s clinical programs and strategic partnerships. The company is poised for multiple clinical data updates throughout 2025, particularly from its Phase 1 Study 1100, which explores the efficacy of NBTXR3 in combination with anti-PD-1 therapy for treating various resistant tumors. This study, along with another evaluating NBTXR3 in esophageal cancer, indicates a robust pipeline that could significantly enhance the company’s market position.
Additionally, the CONVERGE trial, a collaboration with Johnson & Johnson, is advancing into Phase 2 to assess NBTXR3 as a therapy for NSCLC. The potential milestone payment of $50 million upon successful completion of this trial underscores the financial incentives tied to these clinical advancements. Despite some risks, the financial outlook, supported by a strong cash position, and the strategic valuation of NBTXR3 revenues contribute to the Buy rating with a price target of €10.00.