Nanobiotix surges ~110% on tentative pact for cancer drug with global pharma company
Cecilie_Arcurs
- Nanobiotix (NASDAQ:NBTX) said it is entering final negotiations after agreement to a non-binding term sheet for developing and selling its lead cancer drug candidate NBTXR3 with a global pharmaceutical company.
- The arrangement is subject to negotiation and execution of a definitive agreement and required internal corporate approvals, among other things, the French company added.
- According to Nanobiotix, NBTXR3 is a potential first-in-class cancer product which is administered via one-time intratumoral injection and activated by radiotherapy.
- NBTXR3 is being evaluated in locally advanced head and neck squamous cell carcinoma (HNSCC). A phase 1 trial produced favorable safety data and early signs of efficacy, the company noted.
- A phase 3 global registrational study of the drug was launched in 2021.
- NBTX +111.81% to $4.30 premarket May 5