Nanobiotix : The latest clinical data underpin the investment case
The recent data (phase 1) in melanoma, pancreatic cancer and head and neck cancer with anti-PD1 (first or second line) reinforce, in our opinion, the local action as well as the systemic action of JNJ-1900/NBTXR3. These results confirm what has already been observed in previous clinical studies and support the hypothesis that the candidate drug could become a "backbone therapy" in oncology. The risk-reward profile looks particularly attractive at these valuation levels. We reiterate our Outperform rating and lift our target price from € 10 to € 28.Nanobiotix SA is a France-based oncology focused nanomedicine company. It is engaged in developing nanoparticle technology. It develops new tools for cancer which utilize a physical mode of action at the cellular level of the cancer cell. This disruptive approach may reshape future treatment opportunities. The Company's NanoXray technology comprises three products having the potential to cause a paradigm shift in cancer therapy. Specifically, NanoXray products may overcome the current limitations of standard of care in local therapy. Local treatment (surgery and radiotherapy) plays a seminal role in the potential cure and gives systemic treatment a better chance to increase life expectancy. NanoXray products are developed to selectively increase the efficacy of radiotherapy in the tumor cell. Nanobiotix is a spin-off of the State University of New York (SUNY) at Buffalo.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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