Shares of Nanobiotix S.A. (NBTX) are surging more than 100% Friday morning after the company said it is at the final stages of contract negotiations with a major global pharmaceutical company, following agreement to a non-binding term sheet to develop its lead nanotherapeutic candidate NBTXR3.
Nanobiotix said it has agreed to the term sheet as of May 3.
NBTXR3 is currently being evaluated in a Phase 3 study in patients with locally advanced head and neck squamous cell carcinoma (HNSCC).
NBTX is at $4.58. It has traded in the range of $1.75 – $5.82 in the last 52 weeks.
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