Why Nanobiotix Stock Is Soaring Monday

Nanobiotix S.A. NBTX shares are trading higher Monday after the company entered into a license agreement with Janssen Pharmaceutical for global co-development and commercialization of NBTXR3.

What To Know: Janssen Pharmaceutical is a subsidiary of Johnson & Johnson JNJ. 

NBTXR3 is currently being evaluated in several studies across solid tumor indications including a Phase 3 study evaluating it for the treatment of locally advanced head and neck cancer called NANORAY-312.

Under the terms of the agreement, Nanobiotix will grant Janssen a worldwide license for the development and commercialization of NBTXR3. 

"We expect this agreement, and the collaboration it enables, to further drive the expansion of NBTXR3 development and accelerate the realization of its promise for patients in need," said Bart van Rhijn, CFO of Nanobiotix.

Nanobiotix will receive cash and operational support valued at up to $60 million, including a licensing fee of $30 million. Nanobiotix is also eligible for success-based payments of up to $1.8 billion and will receive royalties following commercialization.

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NBTX Price Action: Nanobiotix shares were up 50.6% at $7.80 at the time of writing, per Benzinga Pro.

Photo: Michal Jarmoluk from Pixabay.