NBTX · NASDAQ · Biotechnology

Nanobiotix (ADR) (NBTX)

Develops radiotherapy-activated nanoparticle candidates for solid tumors.

$34.58
vs last close+0.08 (+0.22%)
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Nanobiotix S.A.NBTX
Health Care

Develops radiotherapy-activated nanoparticle candidates, led by JNJ-1900 (NBTXR3), alongside the Curadigm Nanoprimer and Oocuity platforms. The late-clinical business relies on global development with Janssen/Johnson & Johnson for its lead program.

Develops three nanotechnology platforms for oncology and related therapeutic applications. Its lead candidate, JNJ-1900 (NBTXR3), is a functionalized hafnium-oxide nanoparticle given by a one-time intratumoral injection and activated by radiotherapy. It is being studied in solid tumors, including head-and-neck cancer and inoperable stage 3 non-small-cell lung cancer.

Curadigm Nanoprimer is an earlier-stage platform supporting an internal pipeline and external collaborations. Oocuity is a third platform, with no commercial product identified in the current materials.

The business remains a late-clinical platform and pipeline operation rather than a mature product franchise. Clinical progress for JNJ-1900 is tied to the global Janssen/Johnson & Johnson collaboration, which has assumed NANORAY-312 sponsorship in most regions.

Company facts

CEOLaurent Lévy
ListedDec 11, 2020
ExchangeNASDAQ
HeadquartersParis, France
CountryFrance
Employees97
CIK0001760854
ISINUS63009J1079

Market cap$1.75B
EPS (ttm)−$0.5733
P/E (ttm)−60.18
ROE
P/B
P/S51.36
Dividend yieldDiv yield
Beta2.31vs XLV 0.04

Price target$38.00+10.1%Average of 4 analysts
ConsensusBuy3 of 4 analysts
Ratings

Target rangeAs of Sep 21, 2026

Latest analyst notes

DateFirmActionPriorCurrent
Jun 4, 2026Leerink PartnersReiterate
Rating: Target: $26
Rating: OutperformTarget: $46
May 1, 2026UBSReiterate
Rating: Target:
Rating: NeutralTarget: $30
Nov 25, 2025Leerink PartnersTarget
Target: $14
Target: $26

Next report
Sep 29, 26
in 7 days
EPS estimate
−$0.48
Revenue estimate
$1.7M
Fiscal quarter
Q2 FY26

EPSReportedEstimate

Mar '23Nov '23Apr '24Nov '24Apr '25Sep '25Mar '26Sep '26
Reported−$0.95−$0.87−$0.33−$0.50−$1.01−$0.13−$0.46Pending
Estimate−$0.59−$0.83−$0.51−$0.62−$0.25$0.30−$0.48
Surprise−47.6%+60.4%+2.5%−63.5%+45.9%−250.7%

RevenueReportedEstimate

Mar '23Nov '23Apr '24Nov '24Apr '25Sep '25Mar '26Sep '26
Reported$1.9M$3.6M$36.2M$10.0M−$21.6M$31.4M$3.5MPending
Estimate$4.0M$10.3M$3.6M$23.9M$51.5M$1.7M
Surprise−9.1%−3.5%−709.2%+31.2%−93.2%
Estimate−$0.48
ReportedDue Sep 29, 2026
Estimate$1.7M
ReportedDue Sep 29, 2026
View details

Current ratio109.10%

ProfitabilityRevenueNet incomeNet margin

Q2 FY22Q4 FY22Q2 FY23Q4 FY23Q2 FY24Q4 FY24Q2 FY25Q4 FY25
Revenue$1.5M$3.9M$3.8M$37.7M$10.6M−$18.9M$30.5M$3.4M
Net income−$30.2M−$35.1M−$32.2M−$13.3M−$25.0M−$53.0M−$6.2M−$21.3M
Net margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%

GrowthOperating income

Q2 FY22Q4 FY22Q2 FY23Q4 FY23Q2 FY24Q4 FY24Q2 FY25Q4 FY25
Operating income−$29.6M−$23.8M−$29.1M−$1.6M−$27.1M−$51.2M$925.3K−$13.3M
YoY growthLoss narrowedLoss narrowedLoss narrowedLoss narrowedLoss narrowedLoss widenedTurned profitLoss narrowed

Balance sheet, Dec 31, 2025Cash & short-term investments $60.4M · Total debt $109.2M · Total assets $77.6M · Shareholders' equity −$96.8M

Revenue
$3.4M
Operating income
−$13.3M
Net income
−$21.3M

Reported in EUR, converted at the latest exchange rate

View details

No dividends on record.

Institutions11.45%5.79M ADS
19 holders · as of Jun 30, 2026
Insiders15.94%8.06M ADS
2 holders · as of Apr 17, 2025
Other72.61%36.74M ADS
remainder

50.60M ADS as of Sep 12, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

The share count is from the company's Dec 2022 annual report; nothing newer is on file here.

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
Johnson & JohnsonInstitution
11.11%5.62M ADSas of Jun 30, 2026
Invus Public Equities, L.P.Insider
8.37%4.23Mfiled Apr 17, 2025
Qatar Investment AuthorityInsider
7.57%3.83Mfiled Nov 8, 2023
Morgan StanleyInstitution
0.10%49,789 ADSas of Jun 30, 2026
Jane Street Group, LLCInstitution
0.06%32,180 ADSas of Jun 30, 2026

Insider tradesForm 4

Nothing filed in the last 12 months.

View details

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