Nanobiotix (NANO) H1 2026 earnings summary

Executive summary

• Advanced three nanotechnology platforms, with clinical progress in head and neck and lung cancer via the JNJ-1900 (NBTXR3) program in partnership with Janssen, and preclinical advances in Nanoprimer and neurological disease platforms.

• Reported promising early results from Phase 1 and Phase 2 studies of JNJ-1900 (NBTXR3) in NSCLC, with high response rates and acceptable safety profiles.

• Announced protocol modification in the global phase 3 study for head and neck cancer and presented positive phase 2 lung cancer data with high response rates and favorable safety.

• Strengthened financial position with an oversubscribed €86.1M capital increase in May 2026, extending cash runway into 2029 and joining the Euronext Tech Leaders index.

• Received FDA clearance for protocol amendment to Phase 3 NANORAY-312 study in head and neck cancer, streamlining the study timeline.

Financial highlights

• Revenue and other operating income for H1 2026 totaled €5.6M, down from €26.6M in H1 2025, mainly due to a one-time €21.2M contract modification with Janssen in 2025.

• Operating expenses decreased to €23.5M from €25.8M year-over-year, with R&D representing 54% and SG&A 46% of total expenses.

• R&D expenses decreased to €12.7M from €14.5M; SG&A expenses were €10.8M, down from €11.3M in H1 2025.

• Net loss widened to €34.3M (€0.70 per share) from €5.4M (€0.11 per share) year-over-year, mainly due to higher interest expenses on royalty financing.

• Cash and cash equivalents at June 30, 2026, were €110.9M, up from €52.8M at year-end 2025.

Outlook and guidance

• Cash and cash equivalents are expected to fund operations into 2029 based on current plans and projections.

• Continued focus on advancing clinical and preclinical programs, with long-term revenue potential tied to JNJ-1900 milestones and commercialization.

• Additional funding may be required for future R&D and regulatory activities.