Nanobiotix SA (EPA:NANO) shares soared 250% to $7.11 on volume of more than 29 million shares on Friday after the France-based clinical biotechnology company said it has entered into final contract negotiations with a “major global pharmaceutical company” for the commercialization of Nanobiotix’s cancer treatment.
Nanobiotix SA (EPA:NANO) said the negotiations come after an agreement to a non-binding term sheet for the development and commercialization of its lead nanotherapeutic candidate NBTXR3.
NBTXR3, which is injected intravenously and activated by radiotherapy, is a nanotherapeutic also being tested as part of immunotherapy treatment, which harnesses the body's own immune system to combat cancer, MarketWatch reported.
In 2019, Nanobiotix reported that it had entered into a broad, comprehensive clinical research collaboration with The University of Texas MD Anderson Cancer Center to sponsor several Phase 1 and Phase 2 studies to evaluate NBTXR3 across tumor types and therapeutic combinations.
Nanobiotix SA (EPA:NANO) is the owner of more than 20 umbrella patents associated with three nanotechnology platforms with applications in oncology, bioavailability and biodistribution, and disorders of the central nervous system.
Shares of Nanobiotix have gained about 93% in the year to date.
Contact Sean at sean@proactiveinvestors.com