NBTX
HealthcareNanobiotix S.A. · Biotechnology · $2B
What is Nanobiotix S.A.?
Nanobiotix S.A. is a clinical-stage biotechnology company headquartered in Paris, France, focused entirely on harnessing nanoparticle technology to transform how cancer is treated. Its pipeline centers on a single, versatile radioenhancer platform being studied across multiple tumor types.
Nanobiotix develops NBTXR3, a suspension of hafnium oxide nanoparticles designed to amplify the effect of radiotherapy inside tumor cells. The company does not yet generate product revenue and funds operations through partnerships and capital markets. A key collaboration with LianBio covers commercialization rights across Greater China, South Korea, Singapore, and Thailand, broadening the platform's potential reach without requiring Nanobiotix to build out those markets independently.
Nanobiotix was incorporated in 2003 and operates out of Paris, France.
- NBTXR3 radioenhancer nanoparticle platform
- Oncology indications spanning soft tissue sarcoma, head and neck, liver, prostate, pancreatic, esophageal, rectal, and lung cancers
- Regional partnership with LianBio for Asian market development
- Combination studies pairing NBTXR3 with immunotherapy agents
Is NBTX a Good Stock to Buy?
UQS Score rates NBTX as Below Average overall, reflecting the realities of a pre-revenue, clinical-stage biotech.
The Growth and Risk pillars both carry Good labels, suggesting the pipeline's breadth across multiple cancer indications offers meaningful upside potential, and that the company's near-term risk profile is not among the worst in its peer group.
Quality and Moat both register as Weak — typical for a company without commercial revenue or an established competitive position — while Valuation is flagged as Elevated, meaning the market is pricing in considerable future success.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does NBTX pay dividends?
No — Nanobiotix S.A. does not currently pay a dividend.
Nanobiotix does not pay a dividend, which is standard for clinical-stage biotechnology companies. All available capital is directed toward advancing NBTXR3 through clinical trials and regulatory processes. Income-focused investors should note that a dividend is unlikely until the company reaches sustained commercial revenue.
When does NBTX report earnings?
Nanobiotix reports financial results on a quarterly cadence, consistent with its listing obligations as a US-traded equity.
As a pre-revenue company, quarterly reports focus primarily on cash runway, clinical trial progress, and partnership updates rather than traditional revenue or profit metrics. Pipeline milestones and regulatory communications tend to move the stock more than earnings beats or misses.
For the most recent quarter's results and clinical updates, visit Nanobiotix's investor relations page directly.
NBTX Price History
+157.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Nanobiotix S.A.?
Based on Nanobiotix S.A.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
NBTX Long-term Outlook
The Good Growth pillar label reflects genuine pipeline optionality — NBTXR3 is being evaluated across a wide range of cancers, and positive data readouts in any major indication could meaningfully shift the company's trajectory. The Good Risk label suggests the balance sheet and trial design are not in immediate distress. However, the Elevated Valuation pillar signals that much of this potential is already reflected in the current share price, leaving limited margin for clinical setbacks.
Growth drivers
- Positive clinical data readouts across multiple NBTXR3 tumor indications
- Expansion of the LianBio partnership into additional Asian markets or indications
- Potential combination therapy approvals pairing NBTXR3 with immunotherapy
Key risks
- Clinical trial failures or regulatory delays in any key indication
- Elevated valuation leaves little room for negative surprises
- Ongoing cash consumption without commercial revenue creates dilution risk
NBTX vs Peers
Nanobiotix operates in a crowded clinical-stage space alongside other small-cap biotechs pursuing novel cancer and rare-disease therapies.
Taysha focuses on gene therapy for monogenic CNS diseases rather than oncology, representing a different modality and patient population from Nanobiotix's radioenhancer approach.
Immunocore develops T-cell receptor bispecific therapies and has achieved commercial-stage status with an approved product, placing it further along the development curve than Nanobiotix.
Capricor pursues exosome-based therapies for rare diseases, sharing the clinical-stage risk profile of Nanobiotix but targeting entirely different disease areas and biological mechanisms.
Frequently Asked Questions
What does Nanobiotix do?
Nanobiotix is a clinical-stage biotech developing NBTXR3, a nanoparticle designed to amplify radiotherapy's cancer-killing effect inside tumor cells. The platform is being studied across multiple cancer types, including head and neck, liver, prostate, and lung cancers. The company has not yet commercialized a product.
Does NBTX pay dividends?
No. Nanobiotix does not pay a dividend. As a pre-revenue clinical-stage company, it reinvests all available capital into research, clinical trials, and partnership development. A dividend is not expected until the company achieves sustained commercial revenue.
When does NBTX report earnings?
Nanobiotix reports on a quarterly cadence. Because it is pre-revenue, reports focus on cash position and pipeline progress rather than traditional financial performance. Check the company's investor relations page for the most current schedule and results.
Is NBTX a good stock to buy?
UQS Score rates NBTX as Below Average overall. The Growth and Risk pillars carry Good labels, reflecting pipeline breadth and manageable near-term risk. However, Weak Quality and Moat scores alongside an Elevated Valuation mean investors are paying a premium for unproven potential. The full pillar breakdown is available to Pro members.
Is NBTX overvalued?
The UQS Valuation pillar for NBTX is rated Elevated, suggesting the current market price already reflects a significant amount of future clinical success. For a company with no commercial revenue, this leaves limited buffer if trial results disappoint or timelines extend.
How does NBTX compare to its competitors?
Nanobiotix sits alongside other clinical-stage biotechs like Taysha Gene Therapies and Capricor Therapeutics in terms of development stage and risk profile. Immunocore has progressed further with a commercial product. NBTX is differentiated by its nanoparticle radioenhancer platform, which is distinct from gene therapy or bispecific antibody approaches.
What is NBTX's market cap bracket?
Nanobiotix is classified as a small-cap stock. This places it in a segment of the market that typically carries higher volatility and liquidity risk compared to large- or mega-cap peers, which is common for clinical-stage biotechnology companies.
Who founded Nanobiotix?
Nanobiotix was founded by Laurent Levy, who serves as its CEO. The company was incorporated in 2003 and has been headquartered in Paris, France throughout its history. Detailed founding history is available through the company's official communications.
Is NBTX a long-term quality investment?
From a long-term quality perspective, NBTX's UQS Quality and Moat pillars are currently rated Weak, which reflects the absence of commercial revenue and an established competitive position. The Growth pillar is Good, indicating pipeline potential. Long-term quality indicators would need to improve substantially upon successful commercialization.
What is the main competitive advantage of Nanobiotix?
Nanobiotix's core differentiation lies in its hafnium oxide nanoparticle platform, which is designed to work across multiple cancer types in combination with radiotherapy and potentially immunotherapy. This platform versatility allows the company to pursue a broad range of indications from a single technology base, though commercial validation remains pending.
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Pro Analysis
NBTX — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| Apr 10, 2026 | 40.0 | 33.3 | 28.0 | 75.0 | 64.4 | 0.0 | +6.4 |
| Apr 8, 2026 | 33.6 | 33.3 | 28.0 | 42.8 | 64.4 | 0.0 | -3.5 |
| Apr 7, 2026 | 37.1 | 50.0 | 28.0 | 42.8 | 60.0 | 0.0 | +11.1 |
| Apr 2, 2026 | 26.0 | 40.0 | 28.0 | 0.0 | 60.0 | 0.0 | — |
NBTX — Pillar Breakdown
Quality
— 33.3/100 (25%)Nanobiotix S.A. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 75.0/100 (20%)Nanobiotix S.A. is growing rapidly with strong revenue and earnings expansion.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 64.4/100 (15%)Nanobiotix S.A. maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 0.0/100 (15%)Nanobiotix S.A. appears expensively valued relative to its fundamentals and growth prospects.
Moat
— 28/100 (25%)Nanobiotix S.A. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for NBTX.
Score Composition
Financial Data
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How is the NBTX UQS Score Calculated?
The UQS (Unified Quality Score) for Nanobiotix S.A. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Nanobiotix S.A.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Nanobiotix S.A. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.