On October 23, 2020 NANOBIOTIX (Paris:NANO) (Euronext : NANO – ISIN : FR0011341205 – the ‘‘Company’’), a late clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer, reported its unaudited revenue for the third quarter of 2020 (Press release, Nanobiotix, OCT 23, 2020, View Source [SID1234568933]).
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Revenue for the Third Quarter of 2020 (unaudited)
Revenue for the Nine Months Ended September 30th, 2020 (unaudited)
Activity and Results
Nanobiotix’s total revenue for the third quarter of 2020 amounted to €14.7K. Total revenue for the nine months ended September 30, 2020 amounted to €51.6K.
Most of the revenue generated by the Company during this period resulted from the cross-charge to its partner, PharmaEngine, of shared external contract research organization costs pursuant to the license and collaboration agreement.
The amount of cash and cash equivalents as of September 30, 2020 is €42.4M.1 The Company believes that this cash position should ensure its business continuity for at least 12 more months.
In July 2020, Nanobiotix successfully raised €18.8M in net proceeds through a placement of ordinary shares with US and European investors. The company expects to use the net proceeds from the reserved offering to prepare and initiate its global phase III pivotal trial in head and neck cancer and complete the phase I dose escalation trial evaluating the safety and feasibility of NBTXR3 activated by radiation therapy in combination the immune checkpoint inhibitors.
Additionally, in July 2020, Nanobiotix received the second half of its State-Guaranteed Loans amounting to €5M (PGE from Bpifrance) and €2.3M for the 2019 Research Tax Credit.
Nanobiotix’s wholly owned subsidiary, Curadigm, also announced the receipt of €1M in non-dilutive financing as part of Bpifrance’s Deep Tech program to support the development of its Nanoprimer technology. This program recognizes biotechnology companies with breakthrough innovation and strong commercial potential.