: Nanobiotix stock more than triples, after biotech enters final negotiations with ‘major’ drug maker on development of cancer treatment
The U.S.-listed shares of Nanobiotix S.A. NBTX blasted 221.7% higher on massive volume Friday, to pace all gainers trading on major U.S. exchanges, after the France-based biotechnology company said it entered into final contract negotiations for the commercialization of its cancer treatment. Trading volume exploded to 27.9 million shares, compared with the full-day volume over the past 30 days of about 3,200 shares. The company said the negotiations come after an agreement to a non-binding term sheet with a “major global pharmaceutical company” for development and commercialization of its lead nanotherapeutic candidate NBTXR3. Nanobiotix’s NBTXR3 is an novel oncology product made up of “functionalized hafnium oxide nanoparticles that is administered via one-time intratumoral injection and activated by radiotherapy.” The stock has now gained 77.9% year to date, while the iShares Biotechnology exchange-traded fund IBB was little changed and the S&P 500 SPX has gained 7.2%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.