Nanobiotix S.A.

NBTX

Biotechnology · Healthcare

Price

$37.79

+0.26 (+0.69%)

Market Cap

$1.91B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+37.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 34.7M (2021) → 47.8M (2025)

Nanobiotix S.A., a clinical-stage biotechnology, focuses on developing product candidates for the treatment of cancer. Its lead product candidate is NBTXR3, a sterile aqueous suspension of crystalline hafnium oxide nanoparticles used for the treatment of soft tissue sarcoma, head and neck cancers, liver cancers, prostate cancer, pancreatic cancer, esophageal cancer, rectal cancer, and non-small cell lung cancer. Nanobiotix S.A. has a partnership with LianBio to develop and commercialize NBTXR3 i

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+118.2% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+60.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$23M/ year

↓ Declining (-43% vs prior year)

78.0% of revenue

4.3x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

19.6%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~10 months

$53M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Strong grower

Nanobiotix S.A. is growing revenue at 118% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Operating Margin

-386.9%

Losing money on operations — -386.9%

ROCE

-150.3%

Weak — -150.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-45.2%

Shrinking sales (-45.2% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-242.1%

Burning cash (-242.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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