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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nanobiotix | EU:NANO | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.11 | -1.67% | 6.46 | 6.45 | 6.48 | 6.55 | 6.33 | 6.55 | 28,309 | 15:33:36 |
Nanobiotix 2017 Annual Results
Paris, France and Cambridge, Massachusetts, USA, March 30, 2018 - NANOBIOTIX (Euronext: NANO - ISIN: FR0011341205), a late clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer, today announces its audited consolidated results for the fiscal year ended December 31, 2017:
The audited consolidated financial statements for the fiscal year ended December 31, 2017 have been approved by the management board and reviewed by the supervisory board of the Company dated on March 29, 2018.
Consolidated Income statement[1]
€ | 2017 | 2016 |
Total revenue | 3,721,525 | 5,421,613 |
SalesLicenseOther salesServices Other revenuesSubsidiesResearch Tax CreditOther | 251,96814623,205228,617 3,468,557153,7213,259,47856,358 | 1,558,1011,075,37299,450383,279 3,863,51298,0953,703,27862,139 |
Cost of sales | - | - |
R&D costs | (16,336,844) | (16,915,243) |
Selling, General and Administrative (SG&A) (Market Access, BD and other corporate costs) | (9,708,781) | (8,370,208) |
Costs associated with payments in shares | (2,605,054) | (1,990,855) |
Core operating loss | (24,929,153) | (21,854,693) |
Other operational costs | (337,888) | - |
Core loss | (25,267,041) | (21,854,693) |
Financial result | (876,187) | 64,607 |
Core pre-tax loss | (26,143,228) | (21,790,086) |
Tax | (20) | (90,425) |
Net Profit & Loss | (26,143,249) | (21,880,511) |
Financial Review
Total Revenue in 2017 amounts to €3.7M vs. €5.4M in 2016, in line with our operational development expectations, mainly due to:
Total Operating expenses reach €28.7M in 2017 vs. €27.3M in 2016:
Total consolidated headcount reached 85 as of December 31, 2017 vs. 67 in 2016, in line with the company's growth.
Net loss after tax amounts to €26.1M (vs. €21.9M (loss) in 2016), in line with operational development expectations.
Cash available at December 31, 2017 amounts to €47.2M.
In April, the Company completed a private placement of €25.1M providing additional resources to support the group's development. This operation has been an opportunity for Nanobiotix's institutional shareholders to reinforce their position and to welcome new shareholders from U.S. and EU.
In October, Nanobiotix successfully completed an approximately €27.2M placement of new shares. This operation opened the opportunity for Nanobiotix to welcome new investors specialized in life sciences and biotechnology mainly from the U.S. and from Europe.
The cumulated amount of money raised in 2017 is about €52.3M.
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Nanobiotix activities and achievements in 2017
2018 perspectives
NBTXR3 is now being evaluated in head and neck cancer (locally advanced squamous cell carcinoma of the oral cavity or oropharynx), and the trial targets frail and elderly patients who have advanced cancer with very limited therapeutic options. The use of Nanobiotix's NBTXR3 in this population aims to provide better local and systemic disease and prolongs survival with the improvement of Quality of Life.
Given the very promising Phase I/II trial results presented at ASCO 2017, Nanobiotix has filed a protocol amendment to expand the study to more patients in order to confirm the efficacy of NBTXR3. Nanobiotix is also planning to open 12-15 additional clinical trial sites in Europe and to expand this study to the U.S. at a later stage.
This indication is critical to establish the medical value of the product regarding the local control of the tumors, the potential metastatic control through in situ vaccination, and its rare safety profile.
Nanobiotix is running an Immuno-Oncology program with NBTXR3 that includes several studies. In the U.S., the Company received the FDA's approval to launch a clinical study of NBTXR3 activated by radiotherapy in combination with anti-PD1 antibody in lung, and head and neck cancer patients (head and neck squamous cell carcinoma and non-small cell lung cancer). This trial that shall start in Q2 2018, aims to expand the potential of NBTXR3, including using it to treat recurrent or metastatic disease.
Many IO combination strategies focus on 'priming' the tumor, which is now becoming a prerequisite for turning a "cold" tumor into a "hot" tumor. Compared to other products that could be used for priming the tumor, NBTXR3 could have a number of advantages: it is a physical and universal mode of action that could be used widely across oncology; it involves a one-time local injection; it is a good fit within existing medical practice already used as a basis for cancer treatment; it has a very good chronic safety profile and a well-established manufacturing process.
Nanobiotix is focusing on delivering new clinical and pre-clinical data confirming that NBTXR3 could play a key role in oncology and could become a backbone in immuno-oncology.
The Company expects to present the results of its Phase II/III trial of NBTXR3 in soft tissue sarcoma in Q2 2018.
In December 2017, regarding the technical file, LNE/G-MED informed Nanobiotix at this time they would need a few more months to finalize the evaluation required for CE marking for soft tissue sarcoma (STS).
Nanobiotix is also running multiple Phase I/II trials in order to widen the usage of the product.
2018 should be another year of growth for Nanobiotix with various milestones:
Updated composition of Nanobiotix shareholding structure as of December 31, 2017
The proportion of institutional investors slightly increased in 2017 to 47% of the shareholding base (vs. 39% FYE 2016), following the successful completion of both private placements in April and October 2017. These operations have been an opportunity for Nanobiotix's institutional shareholders to reinforce their position and to welcome new investors, mainly from the U.S. as well as from Europe, that are specialized in life science and biotechnology.
-Ends-
Next financial press release: revenue for Q1 2017 on May 15, 2018
Nanobiotix informs that its Annual General Meeting will be held on May 23, 2018 at 2:30 pm, InterContinental Marceau - Marceau room - 64, avenue Marceau 75008 Paris, France.
About NANOBIOTIX: www.nanobiotix.com
Incorporated in 2003, Nanobiotix is a leading, late clinical-stage nanomedicine company pioneering new approches to significantly change patient outcomes, and bringing nanophysics to the heart of the cell.
The Nanobiotix philosophy is one rooted in designing pioneer physical based approaches to bring highly effective and generalized solutions to address high uned medical needs and challenges.
The Company's first-in-class, proprietary lead technology, NanoXray, aims to expand radiotherapy benefits for millions of cancer patients. Furthermore, the Company'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 based in Paris, France, with a U.S. affiliate in Cambridge, MA, and european affiliates in Spain and Germany.
Contact
Nanobiotix | |||
Sarah GaubertDirector, Communications & Public Affairs+33 (0)1 40 26 07 55sarah.gaubert@nanobiotix.com /contact@nanobiotix.com | Noël Kurdi Director, Investor Relations +1 (646) 241-4400 noel.kurdi@nanobiotix.com / investors@nanobiotix.com | ||
Media relations | |||
France - Springbok ConsultantsMarina Rosoff+33 (0)6 71 58 00 34marina@springbok.fr | United States - RooneyPartners Marion Janic +1 (212) 223-4017mjanic@rooneyco.com |
Disclaimer
This press release contains certain forward-looking statements concerning Nanobiotix and its business. 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 reference document of Nanobiotix filed with the French Financial Markets Authority (Autorité des Marchés Financiers) under number D.17-0470 on April 28, 2017 (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.
This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Nanobiotix shares in any country. At the moment NBTXR3 does not bear a CE mark and is not permitted to be placed on the market or put into service until NBTXR3 has obtained a CE mark.
[1] Financial statements have been audited
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