(News Bulletin 247) – Nanobiotix fell on the stock market on Tuesday after reporting a halving of its cash in 2022, a situation which raises a ‘material’ doubt as to the continuity of its operation.
The biotechnology company – which did not record any turnover last year – on the other hand saw its R&D expenses climb to 32.6 million euros, against 30.4 million euros in 2021.
As a result, its net loss widened to 57 million euros, or 1.64 euros per share, compared with a deficit of 47 million euros in the previous year.
As of December 31, 2022, Nanobiotix had €41.4 million in cash, cash equivalents and investments, compared to €83.9 million as of December 31, 2021.
Based on the current operational plan, Nanobiotix estimates that this amount should allow it to finance its operations until the third quarter of 2023.
The company – which says it has implemented actions to obtain new financing – however mentions the existence of a material doubt as to its ability to ensure business continuity, in the absence of the certainty of the obtaining resources in view of future cash requirements.
Around 12:00 p.m., the title fell by more than 28%, showing by far the largest drop in the Paris market.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
