Nanobiotix Stock Triples In Trading Session: What's Going On With Stock On Friday

Nanobiotix NBTX shares gained more than 200% on Friday trading after it entered into final contract negotiations with a major global pharmaceutical company.
In its Q4 earnings release, Nanobiotix raised going concerns.
The company noted net losses of €57.0 million in 2022 and a net decrease in cash and cash equivalents of €42.5 million in 2022.
Nanobiotix stock is gaining on heavy volume, with a session volume of 30.262 million shares traded.
The company agreed to a non-binding term sheet for developing and commercializing lead nanotherapeutic candidate NBTXR3 with an undisclosed pharmaceutical company.
The arrangement is subject to negotiation and execution of a definitive agreement and each party's requisite internal corporate approvals for the definitive terms.
Nanobiotix does not intend to make additional statements regarding negotiations unless and until it is appropriate to do so or a final definitive agreement has been signed.
Price Action: NBTX shares are up 244.8% at $7.00 on the last check Friday.