Nanobiotix Surges On Nearing A Contract Deal With A Major Pharma Co.

(RTTNews) - Shares of Nanobiotix S.A. (NBTX) are surging more than 100% Friday morning after the company said it is at the final stages of contract negotiations with a major global pharmaceutical company, following agreement to a non-binding term sheet to develop its lead nanotherapeutic candidate NBTXR3.

Nanobiotix said it has agreed to the term sheet as of May 3.

NBTXR3 is currently being evaluated in a Phase 3 study in patients with locally advanced head and neck squamous cell carcinoma (HNSCC).

NBTX is at $4.58. It has traded in the range of $1.75 - $5.82 in the last 52 weeks.