Nanobiotix Announces Third Quarter 2020 Revenue
Regulatory News:
NANOBIOTIX (Paris:NANO) (Euronext : NANO – ISIN : FR0011341205 – the ‘‘Company’’), a late clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer, today announced its unaudited revenue for the third quarter of 2020.
Revenue for the Third Quarter of 2020 (unaudited)
|
In K€
|
3Q 2020 |
2Q 2020 |
1Q 2020 |
3Q 2019 |
|
Revenue |
14.7 |
13.4 |
23.5 |
11.1 |
|
|
|
|
|
|
|
Of which licenses |
- |
- |
- |
- |
|
Of which services |
14.7 |
13.4 |
23.5 |
11.1 |
Revenue for the Nine Months Ended September 30th, 2020 (unaudited)
|
In K€ |
Nine Months Ended
|
Nine Months Ended
|
|
Revenue |
51.6 |
48.2 |
|
|
|
|
|
Of which licenses |
- |
- |
|
Of which services |
51.6 |
48.2 |
Activity and Results
Nanobiotix’s total revenue for the third quarter of 2020 amounted to €14.7K. Total revenue for the nine months ended September 30, 2020 amounted to €51.6K.
Most of the revenue generated by the Company during this period resulted from the cross-charge to its partner, PharmaEngine, of shared external contract research organization costs pursuant to the license and collaboration agreement.
The amount of cash and cash equivalents as of September 30, 2020 is €42.4M.1 The Company believes that this cash position should ensure its business continuity for at least 12 more months.
In July 2020, Nanobiotix successfully raised €18.8M in net proceeds through a placement of ordinary shares with US and European investors. The company expects to use the net proceeds from the reserved offering to prepare and initiate its global phase III pivotal trial in head and neck cancer and complete the phase I dose escalation trial evaluating the safety and feasibility of NBTXR3 activated by radiation therapy in combination the immune checkpoint inhibitors.
Additionally, in July 2020, Nanobiotix received the second half of its State-Guaranteed Loans amounting to €5M (PGE from Bpifrance) and €2.3M for the 2019 Research Tax Credit.
Nanobiotix’s wholly owned subsidiary, Curadigm, also announced the receipt of €1M in non-dilutive financing as part of Bpifrance’s Deep Tech program to support the development of its Nanoprimer technology. This program recognizes biotechnology companies with breakthrough innovation and strong commercial potential.
-Ends-
Next financial press release: Revenue for 4Q2020 on February 26, 2021
About NANOBIOTIX: www.nanobiotix.com
Incorporated in 2003, Nanobiotix is a leading, clinical-stage nanomedicine company pioneering new approaches to significantly change patient outcomes by bringing nanophysics to the heart of the cell.
The Nanobiotix philosophy is rooted in designing pioneering, physical-based approaches to bring highly effective and generalized solutions to address unmet medical needs and challenges.
Nanobiotix’s novel, proprietary lead technology, NBTXR3, aims to expand radiotherapy benefits for millions of cancer patients. Nanobiotix’s Immuno-Oncology program has the potential to bring a new dimension to cancer immunotherapies.
Nanobiotix is listed on the regulated market of Euronext in Paris (Euronext: NANO / ISIN: FR0011341205; Bloomberg: NANO: FP). The Company’s headquarters are in Paris, France, with a US affiliate in Cambridge, MA, and European affiliates in France, Spain and Germany.
Disclaimer
This press release contains certain forward-looking statements concerning Nanobiotix and its business, including its prospects and product candidate development. Such forward-looking statements are based on assumptions that Nanobiotix considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the universal registration document of Nanobiotix registered with the French Financial Markets Authority (Autorité des Marchés Financiers) under number R.20-010 on May 12, 2020 (a copy of which is available on www.nanobiotix.com) and to the development of economic conditions, financial markets and the markets in which Nanobiotix operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Nanobiotix or not currently considered material by Nanobiotix. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Nanobiotix to be materially different from such forward-looking statements.
1 Excluding the potential reimbursement of any outstanding financial debt.
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