Shares of Nanobiotix (NBTX), a late-stage clinical biotechnology company, soared 16.06% in pre-market trading on Thursday, following the announcement of encouraging early results from a Phase 1 study evaluating its radioenhancer JNJ-1900 (NBTXR3) in patients with locally advanced esophageal adenocarcinoma.

The study, conducted in collaboration with The University of Texas MD Anderson Cancer Center, combined JNJ-1900 with either photon or proton chemoradiation. Key findings include an impressive 85% disease control rate and a 69% objective response rate among the 13 patients treated. Notably, six patients achieved complete responses, and three showed partial responses. The treatment was well-tolerated, with the recommended Phase 2 dose established at 33% of gross tumor volume for the photon cohort.

Louis Kayitalire, Chief Medical Officer at Nanobiotix, emphasized the potential impact of these results, stating, "We believe that JNJ-1900 (NBTXR3), through its broadly applicable mechanism of action, could offer a novel approach—one designed to enhance local control and potentially reduce the need for highly invasive procedures such as esophagectomy." This development could represent a significant advancement in esophageal cancer treatment, addressing an important unmet medical need.

Adding to the positive sentiment, Leerink Partners analyst Jonathan Chang recently reiterated a Buy rating on Nanobiotix with a price target of $24.00, suggesting substantial upside potential. The combination of promising clinical data and bullish analyst coverage appears to be driving investor enthusiasm for the stock.