Nanobiotix Results: €110.9M in Cash, Financing Expected Until 2029
Nanobiotix published on September 24, 2026 its operational and financial update for the first half of 2026. The Paris-based biotech company specializing in oncology nanomedicine now has €110.9M in cash, compared to €52.8M at the end of December 2025, following a capital increase of approximately €86M completed in May 2026.
This operation, which was oversubscribed with full exercise of the greenshoe option, extends the company's financing horizon until 2029.
Cash Doubled After €86M Fundraising
Cash and cash equivalents totaled €110.9M as of June 30, 2026, compared to €52.8M as of December 31, 2025. This increase resulted from a global placement completed in May 2026, generating gross proceeds of approximately €86M, with full exercise of the greenshoe option by the bookrunners.
From an accounting perspective, revenues and other income totaled €5.6M in the first six months of 2026, compared to €26.6M for the same period in 2025. The company attributes this difference primarily to an exceptional non-cash item of €21.2M recognized in the first half of 2025 under IFRS 15 following the transfer of sponsorship of the NANORAY-312 study to Johnson & Johnson.
Revenues for the first half of 2026 also include €3.1M in clinical product sales to Johnson & Johnson (compared to €3.4M a year earlier) and €1.9M in research tax credits (compared to €1.6M).
Net Loss of €34.3M Compared to €5.4M a Year Earlier
Net loss attributable to ordinary shareholders reached €34.3M in the first half of 2026, representing a basic loss per share of €0.70, compared to a net loss of €5.4M (€0.11 per share) for the same period in 2025. This variation is largely explained by the 2025 comparison base, which included the non-cash item of €21.2M related to IFRS 15.
Research and development expenses totaled €12.7M, compared to €14.5M a year earlier, a decrease of €1.8M which the company attributes primarily to the reduction of clinical development and production activities for the NANORAY-312 study following the transfer of sponsorship to Johnson & Johnson.
Selling, general and administrative expenses reached €10.8M, compared to €11.3M for the same period in 2025, a favorable variance of €0.5M.
Financing Expected Until 2029 and Clinical Advances of NBTXR3
Based on its current operational plan, the company estimates that its cash position of €110.9M as of June 30, 2026 will enable it to finance its operations until 2029. In parallel, the clinical program for the JNJ-1900 candidate (NBTXR3), developed with Johnson & Johnson, has produced multiple datasets during the semester.
In the phase 1 study sponsored by UT MD Anderson in non-small cell lung cancer, presented at the WCLC 2026 congress, the one-year locoregional control rate was 79% for a median follow-up of 12 months, with a one-year progression-free survival of 61% and a one-year overall survival of 70%. All 24 patients completed treatment without dose-limiting toxicity or product-related adverse events grade 3 or higher.
In the CONVERGE phase 2 study conducted by Johnson & Johnson in unresectable stage 3 NSCLC, an overall response rate of 85.7% (6 patients out of 7) and a complete response rate of 57.1% (4 patients out of 7) were reported at ESTRO 2026, on a cohort of 7 patients. The U.S. FDA also validated an amendment to the NANORAY-312 phase 3 study protocol, removing the planned interim analysis and modifying the final analysis to conduct it earlier.
