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

  • Nanobiotix (NASDAQ: 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.

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This article Nanobiotix Stock Triples In Trading Session: What's Going On With Stock On Friday originally appeared on Benzinga.com

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