Nanobiotix (NASDAQ:NBTX) stock is taking off on Friday after the company revealed details about ongoing contract negotiations for NBTXR3.
NBTXR3 is Nanobiotix’s treatment in the works for solid tumors. Specifically, the company is focusing on locally advanced head and neck squamous cell carcinoma. The company says it has entered into final contract negotiations with a major global pharmaceutical company seeking rights to the drug.
According to Nanobiotix, the contract includes the development and commercialization of NBTXR3. Nanobiotix says that it won’t make any more comments on these negotiations until a deal is reached or they need to for another purpose.
What This Means for NBTX Stock
Nanobiotix closing in on a deal for NBTXR3 is a win for NBTX stock. If the company licenses it to a major company, it could result in sales around the world. That could lead to additional revenue and potential royalty payments.
With this news, shares of NBTX stock are seeing incredibly heavy trading on Friday. This has more than 2.5 million shares of the stock changing hands as of this writing. Investors will keep in mind that the daily average trading volume for the company’s shares is only about 2,000 units.
NBTX stock is up 106.5% as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
