Nanobiotix S.A. (NASDAQ:NBTX) reported September 14 results from all 24 patients in the dose-escalation and expansion portions of a Phase 1 study of JNJ-1900, also called NBTXR3, combined with repeat radiation. The study enrolled patients with inoperable, locoregionally recurrent non-small cell lung cancer.
Nanobiotix S.A. (NASDAQ:NBTX) reported 79% one-year locoregional control at a median follow-up of 12 months. That finding supports further investigation, but tumor control must be weighed against serious radiation-related complications. The investment question is whether the approach can deliver enough additional benefit to justify the risks of treating previously irradiated tissue.
Bull Case
The technology addresses a difficult treatment constraint. Nanobiotix S.A. (NASDAQ:NBTX) developed hafnium oxide nanoparticles that are injected directly into a tumor and activated by radiation. The intended effect is to increase radiation's tumor-killing activity without requiring a higher dose to surrounding healthy tissue. That design could be valuable when prior treatment limits how much additional radiation can be delivered.
Nanobiotix S.A. (NASDAQ:NBTX) reported that all 24 patients c...