Nanobiotix S.A. Q1 FY2024 earnings call

Craig West began by highlighting the company's Q1 2024 unaudited cash balance of €58.9 million and reaffirmed cash runway into Q3 2025 including a $20 million milestone received. Laurent Levy then discussed the collaboration with Janssen for NBTXR3, including formation of the Joint Strategy Committee, activation of joint working teams, progress on manufacturing, the first $20 million milestone payment, U.S. FDA approval for a Phase 2 study in non-small cell lung cancer, and elaboration of the clinical development plan for NBTXR3. He also mentioned progress on the Curadigm and Oocuity platforms, with Curadigm having a nanoprimer product candidate and Oocuity focusing on neuronal network modulation. The NBTXR3 development included modification of the NANORAY-312 protocol, change in interim efficacy analysis approach, and exploration of expansion opportunities in other indications.

Cash runway remains unchanged as reaffirmed in the press release. Interim analysis of the NANORAY-312 trial is expected to be reported after the last patient is recruited in H1 2026. The company plans to allocate proceeds from NBTXR3 to further develop the Curadigm platform.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from expectations. Risks include those related to clinical trial outcomes, regulatory filings, and commercialization of NBTXR3 and other platforms.

Q: Can you discuss how you're thinking about strategies to extend the company's cash runway? And then second question, can you provide any color on the alignment process with J&J on a global development plan for NBTXR3?

A: Laurent discussed the sponsorship transfer process, cash runway unchanged, and derisking the asset for success. Bart mentioned the cash runway is unchanged and it's important for derisking the asset.

Q: Can you provide some color on how imminent will be the Phase 2 in lung cancer? And if it's not imminent, which are the gatekeeping items here? And the second question is more about the new programs, the new platform, Curadigm and Oocuity, which kind of updates should we expect in H2 '24?

A: Laurent said the Phase 2 in lung cancer is in progress with FDA approval, and Curadigm updates expected in H2 2024.

Q: Just on the long term, thinking about Curadigm and Oocuity. So you have certainly generated a lot of validation on your NBTXR3 program. And how much of that validation can get transferred into these two new nanoparticle platforms?

A: Laurent said NBTXR3 validation helps in broader nano physics-based approach, data needed for partnerships with Curadigm and Oocuity.