Cover page
Cover page | 12 Months Ended |
Dec. 31, 2023 shares | |
Entity Information [Line Items] | |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2023 |
Current Fiscal Year End Date | --12-31 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-39777 |
Entity Registrant Name | NANOBIOTIX S.A. |
Entity Incorporation, State or Country Code | I0 |
Entity Address, Address Line One | 60 rue de Wattignies |
Entity Address, Postal Zip Code | 75012 |
Entity Address, City or Town | Paris |
Entity Address, Country | FR |
Title of 12(b) Security | Ordinary shares, nominal value €0.03 per share |
Security Exchange Name | NASDAQ |
Entity Common Stock, Shares Outstanding | 47,133,328 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Accelerated Filer |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
ICFR Auditor Attestation Flag | false |
Document Financial Statement Error Correction [Flag] | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Central Index Key | 0001760854 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
No Trading Symbol Flag | true |
American depositary shares, each representing one ordinary share, nominal value €0.03 per share | |
Entity Information [Line Items] | |
Title of 12(b) Security | American depositary shares, each representing one ordinary share, nominal value €0.03 per share |
Trading Symbol | NBTX |
Security Exchange Name | NASDAQ |
Business Contact | |
Entity Information [Line Items] | |
Entity Address, Address Line One | 60 rue de Wattignies |
Entity Address, Postal Zip Code | 75012 |
Entity Address, City or Town | Paris |
Entity Address, Country | FR |
Contact Personnel Name | Mr. Bart van Rhijn |
City Area Code | 33 |
Local Phone Number | (0)1 40 26 04 70 |
Contact Personnel Fax Number | 33 (0)1 40 26 04 44 |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2023 | |
Auditor Information [Abstract] | |
Auditor Name | ERNST & YOUNG |
Auditor Firm ID | 1704 |
Auditor Location | Paris-La Défense, France |
STATEMENTS OF CONSOLIDATED FINA
STATEMENTS OF CONSOLIDATED FINANCIAL POSITION - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Non-current assets | ||
Intangible assets | € 8 | € 1 |
Property, plant and equipment | 6,251 | 7,120 |
Non-current financial assets | 299 | 291 |
Total non-current assets | 6,558 | 7,412 |
Current assets | ||
Trade receivables | 905 | 101 |
Other current assets | 9,088 | 10,868 |
Contract Assets - Current | 2,062 | 0 |
Cash and cash equivalents | 75,283 | 41,388 |
Total current assets | 87,339 | 52,358 |
TOTAL ASSETS | 93,897 | 59,769 |
Shareholders’ equity | ||
Share capital | 1,414 | 1,046 |
Premiums related to share capital | 312,742 | 255,760 |
Accumulated other comprehensive income | 738 | 700 |
Treasury shares | (228) | (228) |
Reserve | (276,810) | (227,282) |
Net loss for the period | (39,700) | (57,041) |
Total shareholders’ equity | (1,843) | (27,045) |
Non-current liabilities | ||
Non-current provisions | 323 | 270 |
Non-current financial liabilities | 45,543 | 48,608 |
Total non-current liabilities | 45,866 | 48,878 |
Current liabilities | ||
Current provisions | 760 | 327 |
Current financial liabilities | 5,022 | 4,560 |
Trade payables and other payables | 18,237 | 9,621 |
Other current liabilities | 7,627 | 6,855 |
Deferred income | 128 | 55 |
Current contract liabilities | 18,100 | 16,518 |
Total current liabilities | 49,873 | 37,936 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | € 93,897 | € 59,769 |
STATEMENTS OF CONSOLIDATED OPER
STATEMENTS OF CONSOLIDATED OPERATIONS - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues and other income | |||
Revenues | € 30,058 | € 0 | € 10 |
Other income | 6,150 | 4,776 | 2,637 |
Total revenues and other income | 36,207 | 4,776 | 2,647 |
Research and development expenses | (38,396) | (32,636) | (30,378) |
Selling, general and administrative expenses | (22,049) | (17,857) | (19,434) |
Other operating income and expenses | (2,542) | (985) | (5,414) |
Total operating expenses | (62,986) | (51,478) | (55,226) |
Operating income (loss) | (26,779) | (46,702) | (52,579) |
Financial income | 2,002 | 3,533 | 6,360 |
Financial expenses | (14,803) | (13,863) | (780) |
Net financial income (loss) | (12,801) | (10,329) | 5,580 |
Income tax | (120) | (10) | (5) |
Net loss for the period | € (39,700) | € (57,041) | € (47,003) |
Basic loss per share (in euro per share) | € (1.08) | € (1.64) | € (1.35) |
Diluted loss per share (in euro per share) | € (1.08) | € (1.64) | € (1.35) |
STATEMENTS OF CONSOLIDATED COMP
STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (LOSS) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [abstract] | |||
Net income (loss) for the period | € (39,700) | € (57,041) | € (47,003) |
Actuarial gains and losses on retirement benefit obligations (IAS 19) | 22 | 126 | 182 |
Tax impact | 0 | 0 | 0 |
Other comprehensive income (loss) that will not be reclassified subsequently to income (loss) | 22 | 126 | 182 |
Currency translation adjustment | 16 | (68) | (94) |
Tax impact | 0 | 0 | 0 |
Other comprehensive income (loss) that may be reclassified subsequently to income (loss) | 16 | (68) | (94) |
Total comprehensive income (loss) | € (39,661) | € (56,983) | € (46,915) |
STATEMENTS OF CONSOLIDATED CHAN
STATEMENTS OF CONSOLIDATED CHANGES IN SHAREHOLDERS’ EQUITY - EUR (€) | Total | Share capital Ordinary shares | Premiums related to share capital | Accumulated other comprehensive income (loss) | Treasury shares | Reserve | Net loss for the period |
Equity at beginning of period at Dec. 31, 2021 | € 26,790,000 | € 1,045,000 | € 255,767,000 | € 643,000 | € (202,000) | € (183,460,000) | € (47,003,000) |
Number of shares outstanding at beginning of period (in shares) at Dec. 31, 2021 | 34,825,872 | ||||||
Changes in equity | |||||||
Net income (loss) for the period | (57,041,000) | (57,041,000) | |||||
Currency translation adjustments | (68,000) | (68,000) | |||||
Actuarial gains and losses (IAS 19) | 126,000 | 126,000 | |||||
Total comprehensive income (loss) | (56,983,000) | 57,000 | (57,041,000) | ||||
Allocation of prior period loss | 0 | (47,003,000) | 47,003,000 | ||||
Capital increase | 0 | € 2,000 | (2,000) | ||||
Free shares attribution | 0 | (7,000) | 7,000 | ||||
Share based payment | 3,174,000 | 3,174,000 | |||||
Treasury shares | (26,000) | € (26,000) | |||||
Number of shares outstanding at end of period (in shares) at Dec. 31, 2022 | 34,875,872 | 22,118 | |||||
Equity at end of period at Dec. 31, 2022 | (27,045,000) | € 1,046,276.16 | 255,760,000 | 700,000 | € (228,000) | (227,283,000) | (57,041,000) |
Changes in equity | |||||||
Capital increase (in shares) | 50,000 | ||||||
Net income (loss) for the period | (39,700,000) | (39,700,000) | |||||
Currency translation adjustments | 16,000 | 16,000 | |||||
Actuarial gains and losses (IAS 19) | 22,000 | 22,000 | |||||
Total comprehensive income (loss) | (39,661,000) | 38,000 | (39,700,000) | ||||
Allocation of prior period loss | 0 | (57,041,000) | 57,041,000 | ||||
Capital increase | 61,641,000 | € 368,000 | 56,982,000 | 4,291,000 | |||
Share based payment | 3,222,000 | 3,222,000 | |||||
Number of shares outstanding at end of period (in shares) at Dec. 31, 2023 | 47,133,328 | ||||||
Equity at end of period at Dec. 31, 2023 | € (1,843,000) | € 1,413,999.85 | € 312,742,000 | € 738,000 | € (228,000) | € (276,811,000) | € (39,700,000) |
Equity at beginning of period at Apr. 19, 2023 | 1,046,276.16 | ||||||
Equity at end of period at Apr. 20, 2023 | 1,056,911.46 | ||||||
Equity at beginning of period at Sep. 12, 2023 | 1,056,911.47 | ||||||
Equity at end of period at Sep. 13, 2023 | 1,085,700.58 | ||||||
Equity at beginning of period at Nov. 06, 2023 | 1,085,700.58 | ||||||
Equity at end of period at Nov. 07, 2023 | 1,274,074.48 | ||||||
Equity at beginning of period at Nov. 09, 2023 | 1,274,074.48 | ||||||
Equity at end of period at Nov. 10, 2023 | 1,386,962.17 | ||||||
Equity at beginning of period at Dec. 12, 2023 | 1,386,962.17 | ||||||
Equity at end of period at Dec. 13, 2023 | € 1,413,999.85 | ||||||
Changes in equity | |||||||
Capital increase (in shares) | 12,257,456 |
STATEMENTS OF CONSOLIDATED CASH
STATEMENTS OF CONSOLIDATED CASH FLOWS - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows used in operating activities | |||
Net loss for the period | € (39,700) | € (57,041) | € (47,003) |
Elimination of other non-cash, non-operating income and expenses | |||
Depreciation and amortization | 1,513 | 1,500 | 1,560 |
Provisions | 506 | 305 | 152 |
Expenses related to share-based payments | 3,222 | 3,174 | 3,201 |
Cost of net debt | 2,714 | 2,042 | 2,224 |
Loss on disposals | (24) | 3 | 0 |
U.S. Initial public offering 2018 costs reversal | 0 | 0 | 0 |
Impact of fair value remeasurement and interest costs | 4,982 | 10,649 | (1,554) |
Tax charges | 120 | 0 | 0 |
Other charges with no impact on cash | 4,277 | (36) | 8 |
Cash flows used in operations, before tax and changes in working capital | (22,390) | (39,403) | (41,412) |
Tax paid | (7) | 0 | 0 |
Cash flow from operating activities after tax and before change in working capital requirement | (22,397) | (39,403) | (41,412) |
(Increase) / Decrease in trade receivables | (806) | (101) | 62 |
Receipt of research tax credit receivable | 4,091 | 2,490 | 1,927 |
Increase in other receivables | (4,375) | (4,215) | (5,034) |
Increase / (Decrease) in trade and other payables | 8,675 | 2,905 | (281) |
Increase / (Decrease) in other current liabilities | 723 | 1,220 | (1,652) |
Increase in deferred income and contract liabilities | 1,612 | 0 | 16,518 |
Changes in operating working capital | 9,920 | 2,300 | 11,540 |
Net cash flows used in operating activities | (12,476) | (37,103) | (29,872) |
Cash flows from (used in) investing activities | |||
Acquisitions of intangible assets | (9) | (1) | (5) |
Acquisitions of property, plant and equipment | (328) | (92) | (228) |
(Increase) / Decrease in non-current financial assets | 230 | ||
(Increase) / Decrease in non-current financial assets | (12) | (9) | |
Net cash flows from (used in) investing activities | (349) | 138 | (242) |
Cash flows from financing activities | |||
Capital increases | 60,154 | 0 | 0 |
Warrants subscription | 0 | 0 | 43 |
Transaction costs | (2,790) | 0 | (349) |
Increase in loans and conditional advances | 150 | 0 | 0 |
Loans repayments | (2,971) | (3,642) | (2,833) |
Payment of lease liabilities | (794) | (1,093) | (909) |
Interest paid | (6,978) | (915) | (1,132) |
Net cash flows from financing activities | 46,771 | (5,651) | (5,180) |
Effect of exchange rates changes on cash | (51) | 83 | 64 |
Net increase (decrease) in cash and cash equivalents | 33,895 | (42,533) | (35,230) |
Net cash and cash equivalents at beginning of period | 41,388 | 83,921 | 119,151 |
Net cash and cash equivalents at end of period | € 75,283 | € 41,388 | € 83,921 |
Company information
Company information | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Information Related To The Company [Abstract] | |
Company information | Company information Company Information Nanobiotix, a Société Anonyme registered with the Paris registry of trade and companies under number 447 521 600 and having its registered office at 60 rue de Wattignies, 75012, Paris (“ Nanobiotix ” or the “ Company ” and, with its subsidiaries, the “ Group ”), is a late-stage clinical biotechnology company pioneering disruptive, physics-based therapeutic approaches to the treatment of cancer and other significant unmet medical needs with the express intent of favorably impacting the lives of millions of patients. The Company believes the nanotherapeutics it is developing for the treatment of cancer have the potential to significantly enhance patients’ response to radiotherapy and increase the number of patients that may benefit from systemic cancer treatments, including targeted therapeutics, immuno-oncology agents and chemotherapy. Furthermore, the Company is actively developing two other nanotechnology platforms aimed at enhancing the therapeutic index of drugs and treating central nervous system (CNS) disorders. Incorporated in 2003, Nanobiotix is headquartered in Paris, France. The Company also has subsidiaries in Cambridge, Massachusetts (United States); France; Spain; and Germany. The Group has been listed on Euronext: Paris under the ticker symbol “NANO” since 2012 (ISIN: FR0011341205, Bloomberg Code: NANO:FP) and on the Nasdaq Global Select Market under the ticker symbol “NBTX” in the United States since December 2020. The Group is the owner of more than 25 patent families associated with three (3) nanotechnology platforms with applications in 1) oncology; 2) bioavailability and biodistribution; and 3) disorders of the central nervous system. The Company's resources are primarily devoted to the development of its lead product candidate–NBTXR3—which is the product of its proprietary oncology platform. Significant events of the period Global trial collaboration agreement (or “GTCA”) On June 30, 2023, the Company signed a ‘GTCA’ with LianBio, related to the Asia Licensing Agreement entered in May 11, 2021. As contemplated by the GTCA license agreement, LianBio shall participate in the global registrational Phase 3 trial conducted by Nanobiotix, with regard to NANORAY-312 trials conducted within the Asia Licensing Territory. According to the ‘GTCA’, LianBio is responsible for all internal and external costs incurred in connection with the study in the Asia Licensing Territory as well as all external costs and expenses incurred by or on behalf of the Company for the global study that are generally applicable to both (i) the study in the Asia Licensing Territory with respect to the patients enrolled within the enrollment commitment and (ii) the portion of the global study conducted outside of the Asia Licensing Territory. In December 2023, LianBio assigned its rights and obligations under the GTCA to Janssen. Janssen Agreement On July 7, 2023, Nanobiotix entered into the Janssen Agreement, granting Janssen an exclusive worldwide license for the development and commercialization of NBTXR3, excluding the Asia Licensing Territory. Nanobiotix will maintain operational control of NANORAY-312 and all other currently ongoing studies, along with NBTXR3 manufacture, clinical supply, and initial commercial supply. Janssen will be fully responsible for an initial Phase 2 study evaluating NBTXR3 for patients with stage three lung cancer and will have the right to assume control of studies currently led by Nanobiotix. Following the Hart-Scott-Rodino Act (“HSR”) antitrust clearance, the Company received an upfront cash licensing fee of $30 million. The Company is eligible for success-based payments of up to $1.8 billion, in the aggregate, relating to potential development, regulatory, and sales milestones. Moreover, the agreement includes a framework for additional success-based potential development and regulatory milestone payments of up to $650 million, in the aggregate, for five new indications that may be developed by Janssen at its sole discretion; and of up to $220 million, in the aggregate, per indication that may be developed by Nanobiotix in alignment with Janssen. Following commercialization, the Company will also receive tiered double-digit royalties (low 10s to low 20s) on net sales of NBTXR3. Separately, the Company received $30 million in equity investments from JJDC, comprising an initial tranche equal to $5 million issued without preferential subscription rights which was received as of September 13, 2023 and a second tranche of equity investments of $25 million contingent upon the closing of a fundraising of at least $25 million. Such second tranche of $25 million was received in two steps: (i) $20.2 million on November 7, 2023, and (ii) $4.8 million. on December 4, 2023. See below Capital increase section (and Note 10.1). Development and commercialization rights for NBTXR3 in the Asia Licensing Territory assigned to Janssen by LianBio On December 22, 2023, the Company announced that LianBio had entered into an agreement with Janssen whereby LianBio assigned to Janssen the exclusive rights to develop and commercialize potential first-in-class radioenhancer NBTXR3 in the Asia Licensing Territor y . This Asia Licensing Agreement includes all previously agreed upon economic terms between the Company and LianBio, including the Company’s entitlement to receive up to an aggregate $225 million in potential contingent, development and commercialization milestone payments (less $20 million already paid to the Company by LianBio) along with tiered, low double-digit royalties based on net sales of NBTXR3 in Asia Licensing Territor y . Following the close of the assignment, LianBio will support the transition of the exclusive rights to develop and commercialize NBTXR3 in the Asia Licensing Territory, to Janssen for a period that should be no longer than six months. See Note 15 - Revenues and other income Capital increase Pursuant to the JJDC SPA, the Company issued 959,637 ordinary shares, delivered in the form of restricted ADSs, for the benefit of JJDC, on September 13, 2023, in consideration for the subscription proceeds of an initial tranche equal to $5 million resulting in a capital increase of a total nominal amount of €29 thousand. On November 7, 2023, the Company announced the closing of a follow-on offering reserved to specified categories of investors, including after partial exercise by the underwriters of their option to purchase additional ordinary shares in the form of ADSs. The follow-on offering resulted in a gross proceeds of €31.8 million. The closing consisted of: (i) 3,786,907 ADSs, each representing one ordinary share, €0.03 nominal value per share of the Company, in the United States (the “U.S. Offering”), including 680,000 ADSs pursuant to the partial exercise of the underwriters' option, in each case, at an offering price of $5.36 per ADS, and (ii) 2,492,223 new ordinary shares, exclusively sold to "qualified investors" in Europe (including France) and certain other countries (excluding the United States and Canada) (the “European Offering”) at an offering price of €5.07 per ordinary share. The U.S. Offering and the European Offering are referred to, together, as the “Global Offering”. Pursuant to the JJDC SPA, JJDC was obligated to subscribe, subject to any required customary approvals, for $25.0 million of the Company’s restricted ADSs (the “Placement Amount”), at a price per ADS equal to the $5.36 per ADS offering price in the U.S. Offering in a concurrent private placement. Pursuant to French foreign investment control rules, the Placement Amount as initially agreed was reduced, such that JJDC initially subscribed for 3,762,923 restricted ADSs for gross proceeds to the Company of $20.2 million. On December 4, 2023, upon the approval of the French Ministry of Economy, JJDC subscribed for 901,256 additional ordinary shares of the Company, in the form of restricted ADSs at a price per ADS equal to the $5.36 per ADS, for gross proceeds to the Company of $4.8 million. For more details on capital increases, see Note 10.1 - Share Capital. Termination agreement with a financial service provider The Company and its financial service provider had entered into an advisory services agreement on November, 28, 2018 to act as the Company’s exclusive adviser relating to a certain scope of transactions, including a major licensing transaction. In this context, the Company paid to its financial service provider $1.5 million in August 2023 following the signing of the Jansen Agreement. As part of the release and termination agreement executed by and between the Company and this financial service provider as of July 19, 2023, the Company paid a first transaction lump sum of $750 thousand in December 2023 following the capital increase of November 2023 (see Capital increase above). In addition to this payment and further to the release and termination agreement, the Company is committed to pay a second transaction lump sum of $750 thousand, upon the achievement of further milestones as per the Janssen Agreement, which is not due as of December 31, 2023 (See Note 22.6). EIB Covenant Waiver Pursuant to the restructuring of the Company’s loan agreement with the EIB, Nanobiotix agreed to maintain for so long as the EIB’s loan remains outstanding a minimum cash and cash equivalents balance equal to the outstanding principal owed to the EIB. In October 2023, the EIB agreed to the removal of the minimum cash and cash equivalents balance covenant initially required by the Amended Agreements, with such removal effective October 13, 2023, subject to the following conditions: (i) the Company’s repayment of the PIK prepayment amount of approximately €5.4 million in accordance with the terms of the EIB loan in respect of the “PIK prepayment condition, (ii) the introduction of an additional mechanism for further prepayment of the above-referenced $20.0 million milestone payment required under the EIB loan as amended, which will require prepayments equal to a tiered low single digit percentage of future equity or debt financing transactions raising up to an aggregate of €100 million, on a cumulative basis, increasing to a mid-single digit percentage for such financings greater than €100 million (the “Milestone Prepayment Mechanism”). The PIK prepayment condition was satisfied on October 12, 2023. This foregoing agreement with EIB has been reflected in consolidated amended and restated documentation for the EIB loan agreement and related royalty agreement dated April 18, 2024. |
General Information, Statement
General Information, Statement of Compliance and Basis of Presentation | 12 Months Ended |
Dec. 31, 2023 | |
General Information, Statement of Compliance and Basis of Presentation [Abstract] | |
General Information, Statement of Compliance and Basis of Presentation | General Information, Statement of Compliance and Basis of Presentation General principles The statement of consolidated financial position as of December 31, 2023, 2022 and 2021 and the statements of consolidated operations, the statements of consolidated comprehensive loss, the consolidated changes in shareholders’ equity and statements of consolidated cash flows for the years ended December 31, 2023, 2022 and 2021 were prepared under management’s supervision and were approved by the Executive Board of the Company (the “Executive Board”) and reviewed by the Supervisory Board of the Company (the “Supervisory Board”) on April 24, 2024. All amounts presented in the consolidated financial statements are presented in thousands of euros, unless stated otherwise. Some figures have been rounded. Accordingly, the totals in some tables may not be the exact sums of component items. The preparation of the consolidated financial statements in accordance with International Financial Reporting Standards (‘‘IFRS’’) requires the use of estimates and assumptions that affect the amounts and information disclosed in the financial statements (see Note 3.2 - Use of judgement, estimates and assumptions for additional information). The consolidated financial statements have been prepared using the historical cost measurement basis, with the exception of some financial assets and liabilities, which are measured at fair value. Statement of Compliance and Basis of Presentation The consolidated financial statements have been prepared in accordance with IFRS, International Accounting Standards (“IAS”) as issued by the International Accounting Standards Board (“IASB”) as well as interpretations issued by the IFRS Interpretations Committee (“IFRS-IC”) and the Standard Interpretations Committee (the “SIC”), which application is mandatory as of December 31, 2023. The consolidated financial statements are also compliant with IFRS as adopted by the European Union. Those are available on the European Commission website: https://eur-lex.europa.eu/eli/reg/2002/1606/oj The accounting principles used to prepare the consolidated financial statements for the fiscal year ended December 31, 2023 are identical to those used for the previous year except for the standards listed below that required adoption in 2023. Application of New or Amended Standards and Interpretations The Company adopted the following standards, amendments and interpretations, whose application was mandatory for periods beginning on or after January 1, 2023: • Amendment to IAS 1 and Practice Statement 2 - Disclosure of Accounting Policies. • Amendment to IAS 8 - Definition of Accounting Estimates • Amendment to IAS 12, Income Taxes - Deferred tax related to Assets and Liabilities arising from a Single Transaction. • Amendment to IAS 12, International tax reform - Pillar Two Model Rules The application of these standards had no significant impact on the consolidated financial statements of the Company. Assessment of the impacts of the Application of the standards, amendments and interpretations which will come into force subsequently The application of the following new standards, amendments and interpretations was not yet mandatory for the year ended December 31, 2023 : • Amendments to IAS 1 – Reporting period and classification of a liability (issued in November 2022 and Effective for the accounting periods as of January 1, 2024) • Amendments to IAS 7 – Transparency of supplier finance arrangements and their effects on the liabilities (issued on May 2023 and Effective for the accounting periods as of January 1, 2024) • Amendments to IFRS 16 – Sale and leaseback transactions (issued in September 2022 and Effective for the accounting periods as of January 1, 2024) • Amendments to IAS 21 – Transaction and operation in a foreign currency (issued in August 2023 and Effective for the accounting periods as of January 1, 2025) No significant impact is expected on the consolidated financial statements following the application of the above amendments. The Company elected to early adopt no new standards, amendments or interpretations which application was not yet mandatory for the year ended December 31, 2023. Going concern The Company has prepared its consolidated financial statements assuming that it will continue as a going concern. Although the Company recognized significant cash inflows in 2023 directly related to (a) net proceeds from the equity offering and (b) upfront payment from the global licensing, co-development, and commercialization agreement with Janssen, the Company’s ability to successfully transition to profitability will be dependent upon achieving a level of revenues adequate to support its cost structure and upon achieving development, regulatory and sales milestones in connection with our new global licensing agreement with Janssen. Therefore, the Company cannot assure that it will ever be profitable or generate positive cash flow from operating activities. Additionally, the Company may encounter unforeseen difficulties, complications, development delays and other unknown factors that require additional expenses. The Company experienced net losses of €39.7 million in 2023 and has accumulated losses of €316.5 million since inception (including 2023 net loss). For the year ended December 31, 2023 the Company generated positive cash flows of €33.9 million and has a total of €75.3 million cash and cash equivalents. The EIB has agreed to the definitive removal of the minimum cash and cash equivalent covenant, effective October 13, 2023 (See Notes 1, 12 and 22.1 for further information) and we expect to receive a $20.0 million milestone payment from Janssen in May 2024, based on the achievement of the first development milestone at the end of 2023 and the issuance of the invoice to Janssen in January 2024 (See Note 15 below for further information). Based upon these factors and the Company’s cash and cash equivalent balance at December 31, 2023, the Company estimates that it will have sufficient liquidity to meet its obligations as thy become due in the normal course of business for at least the next 12 months. As such, Management has concluded there is no substantial doubt about the Company's ability to continue as a going concern. |
Consolidation principles and me
Consolidation principles and methods | 12 Months Ended |
Dec. 31, 2023 | |
Significant Accounting Policies [Abstract] | |
Consolidation principles and methods | Consolidation principles and methods 3.1 Basis of consolidation Accounting policy In accordance with IFRS 10 – Consolidated Financial Statements , the Group controls an entity when it is exposed or has rights to variable returns due to its links with the entity and has the ability to influence the returns. Accordingly, each of the Company’s subsidiaries has been fully consolidated from the date on which the Company obtained control over it. A subsidiary would be deconsolidated as of the date on which the Company no longer exercises control. All intra-Company balances, transactions, unrealized gains and losses resulting from intra-Company transactions and all intra-Company dividends are eliminated in full. The accounting methods of the Company’s subsidiaries are aligned with those of the Company. The consolidated financial statements are presented in euros, which is the reporting currency and the functional currency of the parent company, Nanobiotix S.A. The financial statements of consolidated foreign subsidiaries whose functional currency is not the euro are translated into euros for statement of financial position items at the closing exchange rate at the date of the statement of financial position and for the statement of operations, statement of comprehensive loss and statement of cash flow items at the average rate for the period presented, except where this method cannot be applied due to significant exchange rate fluctuations during the applicable period. The dollar to euro exchange rate used in the consolidated financial statements to convert the financial statements of the U.S. subsidiary was $1.1050 as of December 31, 2023 and an average of $1.0816 for the year ended December 31, 2023 (source: Banque de France) compared with $1.0666 and $1.0539 for 2022 and $1.1326 and $1.1835 for 2021, respectively. The resulting currency translation adjustments are recorded in other comprehensive income (loss) as a cumulative currency translation adjustment. Consolidated entities As of December 31, 2023, the Company is comprised of one parent entity, “Nanobiotix S.A.,” and five wholly owned subsidiaries: • Nanobiotix Corp., incorporated in the State of Delaware in the United States in September 2014; • Nanobiotix Germany GmbH, incorporated in Germany in October 2017; • Nanobiotix Spain S.L.U., incorporated in Spain in December 2017; • Curadigm S.A.S., incorporated on July 3, 2019 and located in France; and • Curadigm Corp., a wholly-owned subsidiary of Curadigm S.A.S., incorporated in the State of Delaware on January 7, 2020 and headquartered in Cambridge, Massachusetts. The consolidated financial statements as of and for the year ended December 31, 2023 include the operations of each of these subsidiaries from the date of their incorporation. 3.2 Use of judgement, estimates and assumptions The preparation of consolidated financial statements in accordance with IFRS requires the use of estimates and assumptions that affect the amounts and information disclosed in the financial statements. The estimates and judgments used by management are based on historical information and on other factors, including expectations about future events considered to be reasonable given the circumstances. These estimates may be revised where the circumstances on which they are based change. Consequently, actual results may vary significantly from these estimates under different assumptions or conditions. A sensitivity analysis may be presented if the results differ materially based on the application of different assumptions or conditions. The main items affected by the use of estimates are going concern, share-based payments, deferred tax assets, clinical trials accruals and the measurement of financial instruments (fair value and amortized costs). Measurement of share-based payments The Company measures the fair value of stock options (OSA), founders’ warrants (BSPCE), warrants (BSA) and free shares (AGA) granted to employees, members of the Supervisory Board and consultants based on actuarial models. These actuarial models require that the Company use certain calculation assumptions with respect to characteristics of the grants (e.g., option vesting terms) and market data (e.g., to determine expected share volatility) (see Note 17 - Share-based payments ). Deferred tax assets Deferred taxes are recognized for temporary differences arising from the difference between the tax basis and the accounting basis of the Company’s assets and liabilities that appear in its financial statements. The primary source of deferred tax assets are related to the tax losses that can be carried forward or backward, depending on the jurisdiction. Enacted tax rates are used to measure deferred taxes. The deferred tax assets are recorded in the accounts only to the extent that it is probable that the future profits will be sufficient to absorb the losses that can be carried forward or backward. Considering its stage of development, which does not allow sufficiently reliable income projections to be made, the Company has not recognized deferred tax assets in relation to tax loss carryforwards in the statements of consolidated financial position. Clinical trial accruals Clinical trial expenses, although not yet billed in full, are estimated for each study and a provision accrual is recognized accordingly. See Note 13.1 - Trade and other payables for information regarding the clinical trial accruals as of December 31, 2023 and 2022. Revenue recognition In order to determine the amount and timing of revenue under the contract with customers, the Company is required to use significant judgments, mainly with respect to identifying performance obligations of the Company, determining the stand alone selling price of the performance obligations, the transaction price allocation and the timing of satisfaction of support services provided to customers Determining the distinctiveness of performance obligations — A promised good or service will need to be recognized separately in revenue if it is distinct as defined in IFRS 15. In determining whether the performance obligation is separate, the Company analyses if (i) the good or service is distinct in absolute terms, i.e. it can be useful to the customer, either on its own or in combination with resources that the customer can obtain separately; and if (ii) the good or service is distinct in the context of the contract, i.e. it can be identified separately from the other goods and services in the contract because there is not a high degree of interdependence or integration between this element and the other goods or services promised in the contract. If either of these two conditions is not met, the good or service is not distinct, and the Company must group it with other promised goods or services until it becomes a distinct group of goods or services. Allocation of transaction price to performance obligations — A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. To determine the proper revenue recognition method, the Company evaluates whether the contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment; some of the Company’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. Variable consideration — Due to the nature of the work required to be performed on many of the Company’s performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. It is common for the collaboration and license agreements to contain variable consideration that can increase the transaction price. Variability in the transaction price arises primarily due to milestone payments obtained following the achievement of specific milestones (e.g., scientific results or regulatory or commercial approvals). The Company includes the related amounts in the estimated transaction price as soon as their receipt is highly probable. The effect of the increase of the transaction price due to milestones payments is recognized as an adjustment to revenue on a cumulative catch‑up basis. Revenue recognized over time and input method — Some of the Company’s performance obligations are satisfied over time as work progresses, thus revenue is recognized over time, using an input measure of progress as it best depicts the transfer of control to the customers. See Note 15 for additional detail regarding the Company’s accounting policies and specific judgments taken with regards to revenue recognition, and for its additional sources of revenue and other income. Measurement of financial assets and liabilities At the renegotiation date in October 2022, the fair value measurement of the EIB loan required the Company to determine: – the discount rate of the new liability executed in October 2022. The discount rate reflects the company’s credit risk at the Amendment Agreement date as well as a premium to reflect uncertainties associated with the timing and the amount of the royalties’ payment. The Company involved external financial instruments valuation specialists to help determine the average discount rate; – the amount of additional interest (“royalties”, as defined by the royalty agreement with EIB) that will be due according to the loan agreement during a royalty calculation period commencing upon commercialization. The royalties due during this period will be determined and calculated based on the number of tranches that have been withdrawn and will be indexed to annual sales turnover relating to NBTXR3 through specific Company’s license agreement. For the purpose of measuring the fair value of the EIB loan, the Company forecast expected sales relating to NBTXR3 during the royalty period, taking into consideration operational assumptions such as market release dates of products and growth and penetration rates in each market. (see Note 4.4 - Financing Agreement with the European Investment Bank (“EIB”) and Note 12 - Financial Liabilities for details about this loan and the accounting treatment applied). Subsequent to the estimate of the fair value of the EIB loan performed at the renegotiation date, the debt has been measured at amortized cost based on a revised best estimate of future cash flows related to the debt at each closing date. Accordingly, the Company determines the amount of additional interest as described above. Any subsequent adjustment of flows indexed to turnover has been discounted at the original effective interest rate and the adjustment has been recognized in profit or loss under the “catch-up” method as of December 31, 2023. |
Significant transactions
Significant transactions | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Significant transactions | Significant transactions 4.1 New Global License Agreement with Janssen Pharmaceutica NV and Share Purchase Agreement with Johnson & Johnson Innovations - JJDC On July 7, 2023, Nanobiotix announced a global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica NV (“Janssen”), a Johnson & Johnson company, for the investigational, potential first-in-class radioenhancer NBTXR3. Under the terms of the license agreement, the Company granted Janssen a worldwide license for the development and commercialization of NBTXR3, excluding the Asia Licensing Territory. Nanobiotix will maintain operational control of NANORAY-312 and all other currently ongoing studies, along with NBTXR3 manufacture, clinical supply, and initial commercial supply, subject to Janssen’ right to object based on concern regarding safety risks or that the study is reasonably likely to adversely affect the development (including commercialization) of the licensed product. Janssen will be fully responsible for an initial Phase 2 study evaluating NBTXR3 for patients with stage three lung cancer and will have the right to assume control of studies currently led by Nanobiotix. Following the HSR antitrust clearance, the Company received a non-refundable upfront cash licensing fee of $30 million, and related revenue has been recognized in 2023 in application of IFRS 15. The Company is eligible for success-based payments of up to $1.8 billion, in the aggregate, relating to potential development, regulatory, and sales milestones. Moreover, the agreement includes a framework for additional success-based potential development and regulatory milestone payments of up to $650 million, in the aggregate, for five new indications that may be developed by Janssen at its sole discretion; and of up to $220 million, in the aggregate, per indication that may be developed by Nanobiotix in alignment with Janssen. Following commercialization, the Company will also receive tiered double-digit royalties (low 10s to low 20s) on net sales of NBTXR3. As of December 31, 2023, the Company achieved operational requirements in NANORAY-312, resulting in an initial $20 million milestone payment from Janssen in early 2024. Separately, the Company received $30 million in equity investments from JJDC, comprising an initial tranche equal to $5 million issued without preferential subscription rights which was received as of September 13, 2023 and a second tranche of equity investments of $25 million received as follows: (i) $20.2 million was received on November 7, 2023, and $4.8 million was received on December 4, 2023. See Capital increase section (Note 1 and 10.1) for further details. Unless terminated earlier, the Janssen Agreement will remain in effect for so long as royalties are payable under the Janssen Agreement. The Janssen Agreement may be terminated earlier by either party in the event that the other party commits an uncured material breach, or in the case of certain insolvency or bankruptcy events. Additionally, Janssen has the right to terminate the agreement without cause, provided they give prior written notice to the Company. In case of early termination, the received and eligible amounts as of December 31, 2023 are not to be refunded. On December 22, 2023, the Company entered into a master services agreement (“MSA”) with Janssen which includes the manufacturing and the supply of products by the Company to Janssen for its clinical program, as well as technical expertise and development, in connection with the Janssen Agreement. For the year ended December 31, 2023, the Company has not collected any funds from Janssen based on the MSA as invoicing relating to the supply of NBTXR3. See Note 15 - Revenues and other income for discussion of the accounting analysis of the agreements with Janssen. 4.2 LianBio, and the assignment of the strategic partnership to Janssen In May 2021, Nanobiotix announced a partnership with LianBio a biotechnology company dedicated to bringing paradigm-shifting medicines to patients in China and major Asian markets, to develop and commercialize NBTXR3 in the Asia Licensing Territory. LianBio has collaborated in the development of NBTXR3 in the Asia-Pacific region in the frame of the study NANORAY-312 and has contributed to patient enrollment in four other future global registrational studies across several tumor types and therapeutic combinations. LianBio has also participated in the global Phase 3 registrational study in head and neck cancer into Greater China and South Korea, while supporting longer term strategic alignment across multiple tumor indications and therapeutic combinations. As of December 31, 2021, a non-refundable upfront payment of $20 million has been collected by the Company from LianBio upon the signing of the Asia Licensing Agreement. Additionally, the Company is entitled to receive up to an aggregate of $205 million in potential contingent, development and commercialization milestone payments from Janssen pursuant to the Asia Development Agreement, only for the period from December 22, 2023 thereafter. Nanobiotix will also be eligible to receive tiered, low double-digit royalties based on net sales of NBTXR3 in the Asia Licensing Territory. In May 2022 and according to the Asia Licensing Agreement executed in May 2021, the Company entered into a clinical supply agreement and a related quality agreement with LianBio for the purpose of the Company supplying LianBio and LianBio purchasing exclusively from the Company all the required quantities of NBTXR 3 for the global clinical study NANORAY-312 and any other studies conducted within the Asia Licensing Territory. On June 30, 2023, the Company signed a ‘GTCA’ with LianBio, related to the Asia Licensing Agreement entered in May 11, 2021. As contemplated by the GTCA license agreement, LianBio shall participate in the global registrational Phase 3 trial conducted by Nanobiotix, with regard to NANORAY-312 trials conducted within the Asia Licensing Territory. According to the ‘GTCA’, LianBio is responsible for all internal and external costs incurred in connection with the study in the Asia Licensing Territory as well as all external costs and expenses incurred by or on behalf of the Company for the global study that are generally applicable to both (i) the study in the Asia Licensing Territory with respect to the patients enrolled within the enrollment commitment and (ii) the portion of the global study conducted outside of the Asia Licensing Territory. In December 2023, LianBio assigned its rights and obligations under the GTCA to Janssen. For the year ended December 31, 2023, the Company has collected €1.6 million from LianBio pursuant to clinical supply and to the GTCA agreements. Under these agreement, LianBio was required to order and purchase NBTXR3 product from the Company according to quantities specified in binding forecasts prepared by LianBio. On December 22, 2023, the Company announced that LianBio had entered into an agreement with Janssen whereby LianBio assigned to Janssen the exclusive rights to develop and commercialize potential first-in-class radioenhancer NBTXR3 in the Asia Licensing Territor y . This Asia Licensing Agreement includes all previously agreed upon economic terms between the Company and LianBio, including the Company’s entitlement to receive up to an aggregate $225 million in potential contingent, development and commercialization milestone payments (less $20 million already paid to the Company by LianBio) along with tiered, low double-digit royalties based on net sales of NBTXR3 in Asia Licensing Territor y . Following the close of the assignment, LianBio will support the transition of the exclusive rights to develop and commercialize NBTXR3 in the Asia Licensing Territory, to Janssen for a period that should be no longer than six months. See Note 15 for discussion of the accounting analysis of the partnership with Lianbio. 4.3 PharmaEngine In August 2012, the Company entered into a license and collaboration agreement with PharmaEngine, which provided for the development and commercialization of NBTXR3 by PharmaEngine throughout the covered Asia-Pacific countries. In March 2021, the Company and PharmaEngine mutually agreed to terminate the License and Collaboration agreement. As of December 31, 2021, the Company had already paid a total of $6.5 million to PharmaEngine in accordance with the termination agreement signed between the parties. During the period ended December 31, 2022, PharmaEngine became eligible for an additional $1 million payment following receipt and validation of certain clinical study reports, this additional payment was made in August 2022. No payment was made to PharmaEngine during the year ended December 31, 2023 pursuant to the termination and release agreement. PharmaEngine remains eligible to receive an additional payment of $5 million upon the second regulatory approval of NBTXR3 in any jurisdiction of the world for any indication. The Company has also agreed to pay royalties to PharmaEngine at low single-digit royalty rates with respect to sales of NBTXR3 in the Asia-Pacific region for a 10-year period beginning at the date of the first sales in the region. As of December 31, 2023, such triggering events have not occurred. 4.4 Financing Agreement with the European Investment Bank (“EIB”) In July 2018, the Company signed a non-dilutive financing agreement with the EIB to borrow up to €40 million in order to fund its research, development and innovation activities related to NBTXR3 in various therapeutic indications, subject to achieving a set of agreed-upon performance criteria. This financing was divided in three tranches: • a first tranche of €16 million, received in October 2018, subject to a 6% fixed rate and initially planned to be fully repaid in 2023 at the latest, with such interest accruing as PIK interest; • a second tranche of €14 million, received in March 2019, subject to a 5% fixed rate, and that was initially planned to be fully repaid between 2021 and 2024; and, • a last tranche of €10 million, however the Company did not meet the criteria to request this tranche prior to its contractual deadline. Accordingly the third tranche is no longer available to the Company. In connection with this financing agreement, the Company also entered into a royalty agreement with EIB pursuant to which the Company is required, during a six-year royalty calculation period commencing on January 1, 2021, to pay (on each June 30 with respect to the preceding year within the calculation period) royalties to EIB. The amount of royalties payable is calculable based on low single digit royalties indexed on our net sales turnover, which vary according to the number of tranches that have been drawn, and indexed on the Company’s annual sales turnover. On October 18, 2022, the Company and the EIB amended the set of financing and royalties’ agreements (together the “Amendment Agreement to the Finance Contract” or “Amendment Agreement”) relating to the EIB loan to re-align the Company’s outstanding debt obligations with its expected development and commercialization timelines. The main terms and conditions of the Amendment Agreement are as follows: Under the Amendment Agreement, the repayment of the remaining €25.3 million in principal for both tranches (€16 million for the first tranche and €9.3 million for the second tranche) is due at the earliest of the third royalty payment (four years after commercialization of NBTXR3) for the first tranche and the second royalty payment (three years following commercialization of NBTXR3) for the second tranche, or on June 30, 2029 irrespective of the commercialization date of NBTXR3. Commercialization date corresponds to the first fiscal year during which net sales will exceed €5 million. As described further below, in connection with a covenant waiver in respect of the EIB loan, the Company repaid a PIK prepayment amount of €5.4 million in cash in respect of PIK interest accrued through October 2023. Going forward, interest on the remaining €9.3 million in principal from the second tranche will continue to accrue at the unchanged 5% fixed rate paid in semi-annual installments through the repayment date, and interest on the remaining €16 million in principal from the first tranche will continue to accrue at the unchanged 6% fixed rate, with such interest accruing as PIK interest, to be paid at the repayment date. The annual royalty payment remains in the low single digits and indexed on our net sales turnover, and continues to cover a six-year period but has been re-aligned to begin as of the first year of NBTXR3 commercialization meaning, when the Company achieves annual net sales in excess of €5.0 million. In addition to the royalty fees, the Amendment Agreement also includes a “milestone” payment of €20 million, which is due at the latest in June 2029. An accelerated redemption schedule for this new milestone payment could be triggered calling for repayment in two equal installments due one year and two years after commercialization, respectively. Further, should the company secure non-dilutive capital through the execution of any business development deal, an accelerated redemption of this new milestone payment would be triggered resulting in a prorated payment amount not exceeding 10% of any upfront or milestone payment received by the Company. Following the Amendment Agreement in 2022, the Company initially agreed to maintain a minimum cash and cash equivalents balance equal to the outstanding principal owed to EIB. At last, the EIB has finally agreed to the removal of this minimum cash and cash equivalent covenant, effective October 13, 2023, subject to the following conditions: (i) the Company’s repayment of the PIK prepayment amount of approximately €5.4 million in accordance with the terms of the EIB loan in respect of PIK interest accrued through October 12, 2023 (the “PIK prepayment condition”), (ii) the introduction of an additional mechanism for further prepayment of the €20.0 million milestone payment required under the EIB loan, which will require prepayments equal to a tiered low single digit percentage of future equity or debt financing transactions raising up to an aggregate of €100 million, on a cumulative basis, increasing to a mid-single digit percentage for such financings greater than €100 million (the “Milestone Prepayment Mechanism”). The PIK prepayment condition was satisfied on October 12, 2023, allowing the definitive waiver removal. The additional prepayment condition on the €20.0 million milestone was met further to the global offering equity raise subscribed between November and December 2023, triggering the prepayment of €0.8 million to the EIB (outstanding balance of €19.2 million still due as of December 31, 2023). All other covenants included in the 2018 finance contract remain unchanged. See Note 12 - Financial Liabilities for discussion of the accounting of this new liability and the valuation assumptions to determine the average discount rate and the fair value of the loan. See Note 14 - Financial instruments included in the statement of financial position and impact on income for discussion of the liquidity risk associated with the covenant. See Note 22 - Commitments for discussion of royalties that may be due in the case of early repayment or change of control after repayment of the loan. 4.5 Collaboration Agreement with the University of Texas MD Anderson Cancer Center On December 21, 2018, the Company entered into a strategic collaboration agreement with MD Anderson Cancer Center, world prominent center of research, education, prevention and care for cancer patients, which was amended and restated in January 2020 and subsequently amended in June 2021. Pursuant to the MD Anderson Collaboration Agreement, the Company and MD Anderson established a large-scale, comprehensive NBTXR3 clinical collaboration to improve the efficacy of radiotherapy for certain types of cancer. The collaboration initially is expected to support multiple clinical trials conducted by MD Anderson, as sponsor, with NBTXR3 for use in treating several cancer types (including head and neck, pancreatic, and lung cancers). We expect to enroll approximately 312 patients in total across these clinical trials. As part of the funding for this collaboration, Nanobiotix is committed to pay approximately $11 million for those clinical trials during the collaboration, and made an initial $1.0 million payment at the commencement of the collaboration and a second $1.0 million payment on February 3, 2020. Additional payments were made every six months following patient enrollment in the trials, with the balance due upon enrollment of the final patient for all studies. Nanobiotix may also be required to pay an additional one-time milestone payment upon (i) grant of the first regulatory approval by the Food and Drug Administration in the United States and (ii) the date on which a specified number of patients have been enrolled in the clinical trials. This milestone payment will depend on the year in which a trigger event occurs, with a minimum amount of $2.2 million due if occurring in 2020 up to $16.4 million if occurred in 2030. As of December 31, 2023 and 2022, the Company recognized prepaid expenses for €1.2 million and €1.5 million respectively. Expenses are recorded during the course of the collaboration in the statement of consolidated operations, based on the patients enrolled during the relevant period. See Note 8.2 for further details on other current assets. 4.6 Equity Line Financing with Kepler Cheuvreux In May 2022, Nanobiotix established an equity line financing with Kepler Cheuvreux. This line of financing will provide financial optionality and near-term flexibility, if needed, as Nanobiotix continues efforts to reduce operating expenses and to focus on its priority programs. In accordance with the terms of this agreement, Kepler Cheuvreux committed to underwrite up to 5,200,000 shares over a maximum timeframe of 24 months starting from May 2022, provided the contractual conditions are met. On December 22, 2023, the agreement was extended by 120 days to September 2024 as a result of the period related to the equity raise that launched in October 2023. The shares will be issued based on the lower of the two daily volume-weighted average share prices for the two trading days preceding each issuance, less a maximum discount of 5.0%. A 2% exercise commission of the exercise price also applies on each exercise date of its warrants by Kepler Cheuvreux. No warrant has been exercised as of December 31, 2023. (See Note 10.4 - Equity Line Agreement and Note 23 - Commitments ) |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2023 | |
Intangible assets other than goodwill [abstract] | |
Intangible assets | Intangible assets Accounting policies In accordance with IAS 38 – Intangible Assets, intangible assets are carried at their acquisition cost. Research and Development costs Research costs are recorded in expenses in the period during which they are incurred. Under IAS 38 – Intangible Assets , development costs may only be capitalized as intangible assets if the following criteria are met: • it is technically feasible to complete the development of the intangible asset so that it will be available for use or sale; • the Company intends to complete the development of the intangible asset and use or sell it; • the Company has the ability to use or sell the intangible asset; • it is probable that the intangible asset will generate future economic benefits; • adequate technical, financial and other resources are available to complete the development of the intangible asset; and • the Company is able to reliably measure the expenditures attributable to the development of the intangible asset. The Company believes that because of the risks and uncertainties related to the grant of regulatory approval for the commercialization of its product candidates, the technical feasibility of completing its development projects will only be demonstrated when requisite approvals are obtained for the commercialization of products. Accordingly, pursuant to IAS 38, the Company has recognized all of its research and development costs incurred as an expense in 2023 and prior periods. Patents Costs incurred by the Company in connection with the filing of patent applications are recognized as an expense until such time as the relevant patents are obtained, in line with the treatment of research and development costs. Once the patents are obtained from relevant authorities, their related patent costs are amortized on a straight-line basis over the patent protection period. The useful life of the patents is reassessed each year, according to IAS 38. Software The costs of acquiring software licenses are recognized as assets on the basis of the costs incurred to acquire and implement the software to which the license relates. These costs are amortized on a straight-line basis over the life of the license. Recoverable amount of intangible assets Intangible assets with a definite useful life are tested for impairment when there are events or changes in circumstances that indicate that the asset might be impaired. Impairment tests involve comparing the carrying amount of an intangible asset with its recoverable amount. The recoverable amount of an asset is the higher of (i) its fair value less costs to sell and (ii) its value in use. If the recoverable amount of any asset is below its carrying amount, an impairment loss is recognized to reduce the carrying amount to the recoverable amount. Detail of intangible assets The change in intangible assets breaks down as follows: (in thousands of euros) As of January 1, 2023 Increases Decreases Transfer Currency As of December 31, 2023 Patents 65 — — — — 65 Software 658 9 — — — 667 Intangible assets in progress — — — — — — Gross book value of intangible assets 723 9 — — — 732 Patents (65) — — — — (65) Software (657) (2) — — — (659) Accumulated depreciation of intangible assets (1) (721) (2) — — — (723) Net book value of intangible assets 1 7 — — — 8 (1) Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses (in thousands of euros) As of January 1, 2022 Increases Decreases Transfer Currency As of December 31, 2022 Patents 65 — — — — 65 Software 657 1 — — — 658 Intangible assets in progress — — — — — — Gross book value of intangible assets 722 1 — — — 723 Patents (65) — — — — (65) Software (652) (4) — 0 0 (657) Accumulated depreciation of intangible assets (1) (717) (4) — — — (721) Net book value of intangible assets 4 (3) — 0 0 1 (1) Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2023 | |
Property, plant and equipment [abstract] | |
Property, plant and equipment | Property, plant and equipment Accounting policies Property, plant and equipment are recorded at their acquisition cost. Major renovations and improvements necessary to bring an asset to the working condition for its use as intended by the Company’s management are capitalized. The cost of repairs, maintenance and other renovation work is expensed as incurred. Property, plant and equipment are depreciated on a straight-line basis according to the estimated useful life of the relevant assets. The depreciation periods used are as follows: • General fixtures and fittings, building work: 5 to 10 years; • Technical installations, equipment and industrial tooling: 3 to 10 years; and • Office and IT equipment and furniture: 1 to 10 years. Recoverable amount of property, plant and equipment Property, plant and equipment with a definite useful life are tested for impairment when there are events or changes in circumstances that indicate that the asset might be impaired. An impairment loss is recognized for the excess of the carrying amount of the asset over its recoverable amount. The recoverable amount of an asset is equal to the higher of (i) its fair value less costs to sell and (ii) its value in use. Detail of property, plant and equipment The change in property, plant and equipment is as follows: (in thousands of euros) As of January 1, 2023 Increases Decreases Transfer Currency As of December 31, 2023 Fixtures, fittings and installations 3,318 2 — — — 3,321 Right of use – Buildings 8,462 337 — — — 8,798 Technical equipment 2,128 113 (215) 300 — 2,327 Office and IT equipment 1,012 41 (9) — (1) 1,043 Transport equipment 36 — — — (1) 34 Right of use – Transport equipment — — — — — — Tangible assets in progress 344 — — (300) — 44 Prepayments on tangible assets — 144 — 0 — 144 Gross book value of tangible assets 15,299 638 (223) — (3) 15,712 Fixtures, fittings and installations (1,959) (315) — — — (2,274) Right of use – Buildings (3,496) (960) 8 — — (4,448) Technical equipment (1,774) (187) 211 — — (1,750) Office and IT equipment (915) (55) 14 — 1 (955) Transport equipment (36) — — — 1 (35) Right of use – Transport equipment — — — — — — Accumulated depreciation of tangible assets (1) (8,180) (1,517) 233 — 2 (9,461) Net book value of tangible assets 7,120 (879) 10 — — 6,251 (1) Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses Right of use - Buildings In 2023, the €0.3 million increase in Right of use - Buildings mainly relates to the impact of an annual rent adjustment for the Wattignies and Waccano leases based on the INSEE (National Institute of Statistics and Economic Studies) index for respectively €0.2 million and €0.1 million. Tangible assets in progress The transfer of fixed assets from Tangible assets in progress to Technical equipment for €0.3 million is related to an "Irradiator" in operation in the laboratory and depreciated since the first quarter of 2023. (in thousands of euros) As of January 1, 2022 Increases Decreases Other movements & transfer. Currency As of December 31, 2022 Fixtures, fittings and installations 3,318 — — — — 3,318 Right of use – Buildings 8,393 226 (158) — — 8,462 Technical equipment 2,135 — (7) — — 2,128 Office and IT equipment 1,010 73 (76) — 5 1,012 Transport equipment 33 — — — 2 36 Right of use – Transport equipment 28 — (28) — — — Tangible assets in progress 98 246 — — — 344 Prepayments on tangible assets — — — — — — Gross book value of tangible assets 15,017 545 (269) — 7 15,299 Fixtures, fittings and installations (1,641) (318) — — — (1,959) Right of use – Buildings (2,610) (930) 43 — — (3,496) Technical equipment (1,644) (138) 7 — — (1,774) Office and IT equipment (875) (111) 73 — (3) (915) Transport equipment (33) — — — (2) (36) Right of use – Transport equipment (28) — 28 — — — Accumulated depreciation of tangible assets (1) (6,831) (1,496) 152 — (5) (8,180) Net book value of tangible assets 8,186 (951) (117) — 2 7,120 (1) Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses In 2022, the €0.2 million increase in Right of use - Buildings mainly relates to the impact of an annual rent adjustment for the Wattignies and Waccano leases based on the INSEE (National Institute of Statistics and Economic Studies) index for respectively €0.1 million and €0.1 million. |
Non-current financial assets
Non-current financial assets | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial assets [abstract] | |
Non-current financial assets | Non-current financial assets Accounting policies for non current financial assets are described in Note 14, ‘‘Financial liabilities.’’ Detail of non-current financial assets The change in non-current financial assets breaks down as follows: (in thousands of euros) Liquidity contract - Cash account (1) Security Total Net book value as of December 31, 2021 98 421 519 Additions — — — Decreases (97) (133) (230) Reclassification — — — Currency translation adjustments — 3 3 Net book value as of December 31, 2022 — 291 291 Additions — 16 16 Decreases — (8) (8) Reclassification — — — Currency translation adjustments — (1) (1) Net book value as of December 31, 2023 — 299 299 (1) See note 10.2 Treasury shares |
Trade receivables and other cur
Trade receivables and other current assets | 12 Months Ended |
Dec. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Trade receivables and other current assets | Trade receivables and other current assets Accounting policies for trade receivables and other current assets are described in Note 14. 8.1 Trade receivables As of December 31, (in thousands of euros) 2023 2022 Trade receivables 905 101 Trade receivables 905 101 The €0.9 million trade receivables balance as of December 31, 2023 mainly relates to the customer balance that includes the first invoices for €0.5 million issued in December 2023 to Janssen under the Master Service Agreement (MSA) signed on December 22, 2023, and the supply and recharge invoices issued to LianBio for €0.3 million, in accordance with the supply and ‘GTCA’ agreements signed with the Company in 2022 and 2023. See Notes 4.1 and 4.2 for more details. The €101 thousand trade receivables balance as of December 31, 2022 exclusively relates to NBTXR3 products delivered to LianBio according to the supply agreement signed in May 2022, invoiced but not paid yet at December 31, 2022. As of December 31, (in thousands of euros) 2023 2022 Due in 3 months or less 905 101 Due between 3 and 6 months — Due between 6 and 12 months — Due after more than 12 months — Trade receivables 905 101 8.2 Other current assets Other current assets break down as follows: As of December 31, (in thousands of euros) 2023 2022 Research tax credit receivable 3,939 4,091 VAT receivable 1,171 1,055 Prepaid expenses 2,560 2,981 Other receivables 1,418 2,741 Other current assets 9,088 10,868 Prepaid expenses As of December 31, 2023, the €2.6 million in prepaid expenses primarily relates to research agreements with MD Anderson for €1.2 million, compared to €1.5 million on December 31, 2022 (see Note 4.5 - Collaboration Agreement with MD Anderson ), €1.1 million relates to invoices received for third-party services after the closing period, mainly relating to IT, insurance, and other invoices associated with annual administrative contracts, and €0.2 million relates to a prepayment for the purchases of clinical products not yet consumed to date. Other receivables Other receivables decreased by €1.3 million, primarily due to a decrease in advance payments made to suppliers. These payments amounted to 1.1 million euros on December 31, 2023, compared to 2.7 million euros on December 31, 2022. The change in advance payments is consistent with the allocation of invoices received for the fiscal year 2023. Research tax credit receivable The Company receives research tax credit (Crédit d’Impôt Recherche, or ‘‘CIR’’) from the French tax authorities. See Note 15 for additional details on the CIR research tax credit. The research tax credit for 2023 was €4.0 million (€3.8 million for Nanobiotix S.A. and €0.2 million for Curadigm SAS), while the amount for 2022 was €4.1 million (€3.9 million for Nanobiotix S.A. and €0.2 million for Curadigm SAS). The 2021 research tax credit was received by the Company in December 2022, and the 2022 research tax credit was received by the Company in November 2023. The change in research tax credit receivables breaks down as follows: (in thousands of euros) Receivable as of December 31, 2021 2,490 Receipt of 2021 research tax credit – Nanobiotix SA (2,272) Receipt of 2021 research tax credit – Curadigm SAS (218) 2022 research tax credit – Nanobiotix SA 3,884 2022 research tax credit – Curadigm SAS 207 Receivable as of December 31, 2022 4,091 Receipt of 2022 research tax credit – Nanobiotix SA (3,884) Receipt of 2022 research tax credit – Curadigm SAS (207) 2023 research tax credit – Nanobiotix SA 3,762 2023 research tax credit – Curadigm SAS 177 Receivable as of December 31, 2023 3,939 8.3 Contract assets - Current As of December 31, (in thousands of euros) 2023 2022 Contract assets - Current 2,062 — Contract assets - Current 2,062 — The current balance of contract assets, amounting to €2.1 million as of December 31, 2023, is associated with revenue recognized from the first milestone under IFRS 15 following the Janssen Agreement. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Cash and cash equivalents | Cash and cash equivalents Accounting policy Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other reasons. They are easily converted into known amounts of cash and are subject to an insignificant risk of changes in value. Cash and cash equivalents consist of liquid assets that are available immediately and term deposits. Cash equivalents are measured at amortized cost. Detail of cash and cash equivalents Cash and cash equivalent break down as follows: As of December 31, (in thousands of euros) 2023 2022 Cash and bank accounts 75,283 38,576 Short-term bank deposits — 2,813 Net cash and cash equivalents 75,283 41,388 As of December 31, 2023, net cash and cash equivalents increased by €33.9 million as compared with December 31, 2022 mainly due to: – the non-refundable upfront cash licensing fee from Janssen for a total of €27.5 million ($30 million) received in August 2023 – the net proceeds from the equity raise completed between September and December 2023 of €57.4 million – the offsetting by the payment of interest accrued as payment-in-kind (“PIK”) related to the EIB loan for €5.4 million and other cash flows used in operating activities. In addition, the Company is no longer subject to maintaining a minimum cash and cash equivalents balance following the full removal of the previously agreed covenant with the EIB, which was removed in October 2023. See Note 4.4 - Financing Agreement with the European Investment Bank (“EIB”) for further details. |
Share Capital
Share Capital | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Share Capital, Reserves And Other Equity Interest [Abstract] | |
Share Capital | Share Capital 10.1 Capital issued Accounting policies Ordinary shares are classified in shareholders’ equity. The cost of equity transactions that are directly attributable to the issue of new shares or options is recognized in shareholders’ equity as a deduction from the proceeds of the issue. Detail of share capital transactions (in thousands or number of shares) Nature of transaction Share Capital Premiums related to share capital Number of shares December 31, 2021 1,045 255,767 34,825,872 March 31, 2022 Capital increase (AGA 2020) 2 0 50,000 March 31, 2022 Prior period adjustments — 2 — April 20, 2022 Free Shares attributions (AGA 2022) — (9) — December 31, 2022 1,046 255,760 34,875,872 April 20, 2023 Capital increase (AGA 2021) 11 — 354,510 June 27, 2023 Free Shares attributions (AGA 2023) — (26) — September 11, 2023 Issuance of new shares - Capital increase (Tranche 1 Janssen) 29 4,642 959,637 November 7, 2023 Issuance of new shares - capital increase (ordinary shares) 75 12,561 2,492,223 November 7, 2023 Issuance of new shares - capital increase (ADS) 114 19,086 3,786,907 November 7, 2023 Capital increase transaction costs (ordinary shares) — (758) — November 7, 2023 Capital increase transactions costs (ADS) — (1,140) — November 10, 2023 Issuance of new shares - Capital increase (Tranche 2 - step 1 Janssen) 113 18,965 3,762,923 December, 13, 2023 Issuance of new shares - Capital increase (Tranche 2 - step 2 Janssen) 27 4,542 901,256 December, 29, 2023 Capital increase transactions costs — (79) — December, 29, 2023 Capital increase transactions costs — (813) — December, 31, 2023 Prior period adjustments — 1 — December 31, 2023 1,414 312,742 47,133,328 As of December 31, 2023, the share capital was €1,413,999.85 divided into 47,133,328 fully paid in ordinary shares each with a par value of €0.03, as compared with the 2022 share capital of €1,046,276.16 divided into 34,875,872 fully paid in ordinary shares, each with a par value of €0.03. On April 20, 2023, the share capital of the Company was increased by a nominal amount of €10,635.30, through the issuance of 354,510 new ordinary shares with a nominal value of €0.03 each, increasing the Company’s share capital from €1,046,276.16 to €1,056,911.46, as a result of the definitive acquisition of 354,510 AGA 2021. Such acquisition was acknowledged by the Executive Board on March 28, 2023 and on June 6, 2023. On September 11, 2023, the share capital of the Company was increased by a nominal amount of €28,789.11, due to the issuance to JJDC of 959,637 new ordinary shares with a nominal value of €0.03 each, increasing the Company’s share capital from €1,056,911.47 to €1,085,700.58, as a result of the capital increase with cancellation of shareholders' preferential subscription rights in favor of JJDC decided by the Executive Board on September 11, 2023, in accordance with the delegation granted by the shareholders’ meeting of the Company held on September 1st, 2023 in its first resolution. In connection with the equity investments from JJDC, as described above, the Company recorded an increase in reserves of €4.2 million. Since the Initial Tranche was to be settled at a future date, required no initial investment from JJDC and had a value varying in response to the change in the Company’s share price and created an exposure to foreign currency risk as the exercise price was set in U.S. dollars, this initial tranche resulted in the recognition of a derivative measured at fair value until its settlement. The increase in reserves represents the loss from the change in fair value of the derivative arising from the first tranche of the equity investment and is due to the significant change in share price between the signing date of the agreement and the settlement date of the transaction. (see Note 18 – Net Financial Income (Loss)) On November 7, 2023, following the completion of the settlement and delivery of the Global Offering, the share capital of the Company was increased by a nominal amount of €188,373.90, through the issuance of 6,279,130 new ordinary shares with a nominal value of €0.03 each, increasing the Company’s share capital from €1,085,700.58 to €1,274,074.48, as a result of a capital increase without preferential subscription rights to the benefit of categories of persons in the context of an offering in the United States of America and an offering to institutional investors outside the United States of America, in accordance with the delegation granted by the shareholders’ meeting of the Company held on June 27, 2023 in its 24th resolution. On November 10, 2023, following the completion of the settlement and delivery of the Strategic Offering, the share capital of the Company was increased by a nominal amount of €112,887.69, through the issuance of 3,762,923 new ordinary shares with a nominal value of €0.03 each, increasing the Company’s share capital from €1,274,074.48 to €1,386,962.17, as a result of a concurrent capital increase without preferential subscription rights to the benefit of specific investors in the context of an offering in the United States of America, in accordance with the delegation granted by the shareholders’ meeting of the Company held on June 27, 2023 in its 25th resolution. On December 13, 2023, the share capital of the Company was increased by a nominal amount of €27,037.68, through the issuance of 901,256 new ordinary shares with a nominal value of €0.03 each, increasing the Company’s share capital from €1,386,962.17 to €1,413,999.85, as a result of a concurrent capital increase without preferential subscription rights to the benefit of specific investors in the context of an offering in the United States of America, in accordance with the delegation granted by the shareholders’ meeting of the Company held on June 27, 2023 in its 25th resolution. In 2022, the increase in share capital is linked to the issuance of 50,000 new ordinary shares for fully vested free shares (AGA) related to the AGA 2020 plan. 10.2 Treasury shares On December 20, 2022 the liquidity contract with Gilbert Dupont was terminated, resulting in the Company receiving 22,118 shares that are still reported as treasury shares as of December 31, 2023. 10.3 Founders’ warrants, warrants, stock options and free shares Accounting policies Accounting policies for share-based payments are described in Note 17. Detail of change in founders’ warrants, warrants, stock options and free shares The Company has granted stock options (OSA), founders’ warrants (BSPCE), warrants (BSA), and free shares (AGA) to corporate officers, employees, members of the Executive and Supervisory Board and consultants of the Group. In certain cases, exercise of the stock options, founders’ warrants and warrants is subject to performance conditions. The Company has no legal or contractual obligation to pay the options in cash. The following tables summarize activity in these plans during the years ended December 31, 2023 and 2022. The impact of share-based payments on income is detailed in Note 17. Founders’ warrants (BSPCE) Type Grant Exercise Outstanding at January 1, 2023 Issued Exercised Forfeited Outstanding at December 31, 2023 Number of BSPCE 2012-2 December 18, 2012 6.63 — — — — — — BSPCE 08-2013 August 28, 2013 5.92 50,000 — — (50,000) — — BSPCE 09-2014 September 16, 2014 18.68 86,150 — — (400) 85,750 85,750 BSPCE 2015-1 February 10, 2015 18.57 68,450 — — (350) 68,100 68,100 BSPCE 2015-3 June 10, 2015 20.28 30,350 — — (1,950) 28,400 28,400 BSPCE 2016 February 2, 2016 14.46 200,626 — — (3,609) 197,017 197,017 BSPCE 2017 January 7, 2017 15.93 179,150 — — (1,050) 178,100 178,100 Total 614,726 — — (57,359) 557,367 557,367 Type Grant Exercise Outstanding at January 1, 2022 Issued Exercised Forfeited Outstanding at December 31, 2022 Number of BSPCE 2012-2 December 18, 2012 6.63 100,000 — — (100,000) — — BSPCE 08-2013 August 28, 2013 5.92 50,000 — — — 50,000 50,000 BSPCE 09-2014 September 16, 2014 18.68 86,150 — — — 86,150 86,150 BSPCE 2015-1 February 10, 2015 18.57 68,450 — — — 68,450 68,450 BSPCE 2015-3 June 10, 2015 20.28 30,350 — — — 30,350 30,350 BSPCE 2016 February 2, 2016 14.46 200,841 — — (215) 200,626 160,673 BSPCE 2017 January 7, 2017 15.93 179,500 — — (350) 179,150 179,150 Total 715,291 — — (100,565) 614,726 574,773 By way of exception, the Executive Board decided to lift, for three former employees and for two former members of the Executive Board, the continued service condition, and, where applicable for a former Executive Board member, the performance conditions to which the exercise of certain BSPCEs was subject, notwithstanding the termination of their employment agreement and/or corporate office. The probability of meeting the performance conditions for the 2016 BSPCE, BSA and OSA performance plans was reassessed as of December 31, 2023. The threshold of 500 patients enrolled in all our clinical studies was exceeded in December 31, 2023. As a consequence, all outstanding 2016 BSPCE, BSA and OSA may be exercised. The impact of share-based payments on income is detailed in Note 17. Warrant Plans (BSA) Type Grant date Exercise Outstanding at January 1, 2023 Issued Exercised Forfeited Outstanding at December 31, 2023 Number of BSA 04-12 May 4, 2012 6.00 — — — — — — BSA 2013 April 10, 2013 6.37 6,000 — — (6,000) — — BSA 2014 September 16, 2014 17.67 10,000 — — — 10,000 — BSA 2015-1 February 10, 2015 17.67 21,000 — — — 21,000 — BSA 2015-2(a) June 25, 2015 19.54 64,000 — — — 64,000 — BSA 2017 January 7, 2017 15.76 — — — — — — BSA 2018-1 March 6, 2018 13.55 28,000 — — (28,000) — — BSA 2018-2 July 27, 2018 16.10 5,820 — — — 5,820 — BSA 2019-1 March 29, 2019 11.66 18,000 — — — 18,000 — BSA 2020 March 17, 2020 6.59 18,000 — — — 18,000 — BSA 2021 (a) April 21, 2021 13.47 14,431 — — — 14,431 14,431 BSA 2021 (b) April 21, 2021 13.64 — — — — — — Total 185,251 — — (34,000) 151,251 14,431 Type Grant date Exercise Outstanding at January 1, 2022 Issued Exercised Forfeited Outstanding at December 31, 2022 Number of BSA 04-12 May 4, 2012 6.00 30,000 — — (30,000) — — BSA 2013 April 10, 2013 6.37 6,000 — — — 6,000 6,000 BSA 2014 September 16, 2014 17.67 10,000 — — — 10,000 — BSA 2015-1 February 10, 2015 17.67 21,000 — — — 21,000 — BSA 2015-2(a) June 25, 2015 19.54 64,000 — — — 64,000 — BSA 2016 February 2, 2016 13.74 — — — — — — BSA 2016-2 November 3, 2016 15.01 — — — — — — BSA 2017 January 7, 2017 15.76 18,000 — — (18,000) — — BSA 2018-1 March 6, 2018 13.55 28,000 — — — 28,000 — BSA 2018-2 July 27, 2018 16.10 5,820 — — — 5,820 — BSA 2019-1 March 29, 2019 11.66 18,000 — — — 18,000 — BSA 2020 March 17, 2020 6.59 18,000 — — — 18,000 — BSA 2021 (a) April 21, 2021 13.47 14,431 — — — 14,431 14,431 BSA 2021 (b) April 21, 2021 13.64 30,000 — — (30,000) — — Total 263,251 — — (78,000) 185,251 20,431 During the year ended December 31, 2023, no new warrants were issued. At a meeting on April 10, 2013, the Executive Board, acting pursuant to the delegation, granted 6,000 warrants to members and observers of the Supervisory Board, each warrant giving its holder the right to subscribe to one ordinary share, each with a par value of €0.03 and at a price of €6.37 (share premium included). The subscription period is open from the date of the Executive Board until April 10, 2023, inclusive. As of December 31, 2023, the remaining 6,000 warrants have not been exercised by their beneficiaries and have all been cancelled. At a meeting on March 6, 2018, the Executive Board, acting pursuant to the delegation, granted 28,000 warrants to members and observers of the Supervisory Board, each warrant giving its holder the right to subscribe to one ordinary share, each with a par value of €0.03 and at a price of €13.55 (share premium included). The subscription period is open from the date of the Executive Board until March 6, 2023, inclusive. As of December 31, 2023, the remaining 28,000 warrants have not been exercised by their beneficiaries and have all been cancelled. Stock Option Plans (OSA) Type Grant date Exercise price (in euros) Outstanding at January 1, 2023 Issued Exercised Forfeited Outstanding at December 31, 2023 Number of shares issuable OSA 2016-1 February 2, 2016 13.05 400 — — — 400 400 OSA 2016-2 November 3, 2016 14.26 4,000 — — — 4,000 4,000 OSA 2017 January 7, 2017 14.97 500 — — — 500 500 OSA 2018 March 6, 2018 12.87 52,000 — — — 52,000 52,000 OSA 2019-1 March 29, 2019 11.08 25,750 — — — 25,750 25,750 OSA LLY 2019 October 24, 2019 6.41 500,000 — — — 500,000 — OSA 2020 March 11, 2020 6.25 381,173 — — (3,398) 377,775 377,775 OSA 2021-04 April 20, 2021 13.74 421,200 — — (25,000) 396,200 30,134 OSA 2021-06 June 21, 2021 12.99 120,000 — — — 120,000 40,000 OSA 2022-001 April 14, 2022 6.17 — — — — — — OSA 2022-06 June 22, 2022 4.16 554,500 — — (13,810) 540,690 140,500 OSA 2023-01 July 20, 2023 5.00 — 338,860 — (20,000) 318,860 — Total 2,059,523 338,860 — (62,208) 2,336,175 671,059 Type Grant date Exercise price (in euros) Outstanding at January 1, 2022 Issued Exercised Forfeited Outstanding at December 31, 2022 Number of shares issuable OSA 2016-1 February 2, 2016 13.05 400 — — — 400 240 OSA 2016-2 November 3, 2016 14.26 4,000 — — — 4,000 4,000 OSA 2017 January 7, 2017 14.97 500 — — — 500 500 OSA 2018 March 6, 2018 12.87 52,000 — — — 52,000 52,000 OSA 2019-1 March 29, 2019 11.08 28,250 — — (2,500) 25,750 25,750 OSA LLY 2019 October 24, 2019 6.41 500,000 — — — 500,000 — OSA 2020 March 11, 2020 6.25 387,456 — — (6,283) 381,173 274,610 OSA 2021-04 April 20, 2021 13.74 491,200 — — (70,000) 421,200 18,619 OSA 2021-06 June 21, 2021 12.99 120,000 — — — 120,000 20,000 OSA 2022-001 April 14, 2022 6.17 — 20,000 — (20,000) — — OSA 2022-06 June 22, 2022 4.16 — 580,900 — (26,400) 554,500 — Total 1,583,806 600,900 — (125,183) 2,059,523 395,719 At a meeting on July 20, 2023, the Executive Board, acting pursuant to delegations granted by the Company’s shareholders’ meeting held on July 20, 2023, granted to certain employees of the Group and members of the Executive Board 338,860 stock options, each giving its holder the right to subscribe to one ordinary share, each with a par value of €0.03 and at a price of €5.00 (share premium included). Such stock options are governed by the 2023 stock option plan, adopted by the Executive Board on July 20, 2023 and approved by the Company’s annual shareholders’ meeting held on June 27, 2023 (the “ 2023 Stock Option Plan ”). The ordinary stock options are exercisable as follows: ▪ up to one-third of the ordinary stock options as from July 20, 2024; ▪ an additional one-third of the ordinary stock options as from July 20, 2025; and ▪ the balance, i.e., one-third of the ordinary stock options as from July 20, 2026. subject to, for each increment, a continued service condition, and in any case, no later than 10 years after the date of grant. Stock options which have not been exercised by the end of the 10 year period will be forfeited by law. Free share plans (AGA) Type Grant date Outstanding at January 1, 2023 Issued Definitively vested Forfeited Outstanding at December 31, 2023 Number of shares exercisable AGA 2021 April 20, 2021 354,711 — (354,510) (201) — — AGA 2022 June 22, 2022 299,035 — — (5,259) 293,776 293,776 AGA 2023 - P1 June 27, 2023 — 427,110 — (26,150) 400,960 400,960 AGA 2023 - P2 June 27, 2023 — 439,210 — (6,650) 432,560 432,560 Total 653,746 866,320 (354,510) (38,260) 1,127,296 1,127,296 Type Grant date Outstanding at January 1, 2022 Issued Definitively vested Forfeited Outstanding at December 31, 2022 Number of shares exercisable AGA 2020 March 11, 2020 50,000 — (50,000) — — — AGA 2021 April 20, 2021 360,512 — — (5,801) 354,711 354,711 AGA 2022 June 22, 2022 — 300,039 — (1,004) 299,035 299,035 Total 410,512 300,039 (50,000) (6,805) 653,746 653,746 At a meeting on June 27, 2023, the Executive Board, acting pursuant to the authorization granted by Company’s shareholders’ meeting on June 23, 2022, granted 427,110 free shares (AGA 2023 P1), each with a par value of €0.03 to employees of the Group and members of the Executive Board. Such free shares will be subject to a one-year holding period starting at the end of the two-year acquisition period, i.e. starting on June 27, 2025. Such free shares are governed by the 2023 free share plan adopted by the Executive Board on June 27, 2023. Furthermore, the definitive acquisition of these free shares (AGA 2023 P1) granted to members of the Executive Board was conditioned upon the achievement of performance conditions within the acquisition period. The satisfaction of these performance condition was acknowledged by the Executive Board, with the approval of the Supervisory Board on February 09, 2024. The definitive acquisition of these free shares is subject to a one-year holding period starting at the end of the two-year acquisition period and is conditional on the beneficiaries' presence in the Group at the end of the vesting period. At a meeting on June 27, 2023, the Executive Board, acting pursuant to the authorization granted by Company’s shareholders’ meeting on June 23, 2022, granted 439,210 free shares (AGA 2023 P2), each with a par value of €0.03 to certain employees of the Group and members of the Executive Board. Such free shares will be subject to a one-year holding period starting at the end of the two-year acquisition period, i.e. starting on June 27, 2025. Such free shares are governed by the 2023 free share plan adopted by the Executive Board on June 27, 2023. Furthermore, the definitive acquisition of these free shares (AGA 2023 P2) granted to members of the Executive Board and all employees was conditioned upon the achievement of performance conditions applicable within the acquisition period. At the end of 2023, these conditions have been achieved allowing the free shares to be exercisable at closing date. The satisfaction of these performance condition was acknowledged by the Executive Board, with the approval of the Supervisory Board on February 09, 2024. The definitive acquisition of these free shares is subject to a one-year holding period starting at the end of the two-year acquisition period and is conditional on the beneficiaries' presence in the Group at the end of the vesting period. Free share vesting conditions The AGA 2022 and AGA 2023 are subject to a two-year vesting period and a one-year holding period,. The free shares granted by the Company are definitively acquired at the end of the acquisition period as set by the Executive Board. At the end of such period, the beneficiary is the owner of the shares. However, during the holding period (as set by the Executive Board), if any, the shares may not be sold, transferred or pledged. Unless otherwise decided by the supervisory and executive boards of the Company, the AGA 2022 and AGA 2023 are subject to continued service during the vesting period (i.e., for the AGA 2022, until June 22, 2024 and for AGA 2023, until June 27, 2025), it being specified that, failing such continued service, the beneficiary definitively and irrevocably loses his or her right to acquire the relevant AGA 2022 and AGA 2023. Unless otherwise decided by the supervisory and executive boards of the Company, in the event of disability or death of a beneficiary before the end of the acquisition period, the relevant free shares shall be definitely acquired at, respectively, the date of disability or the date of the request of allocation made by his or her beneficiary in the framework of the inheritance, provided that such request is made within six months from the date of death. At a meeting on April 20, 2023, the Executive Board acknowledged the definitive acquisition of 354,510 free shares granted on April 20, 2021 following a two-year acquisition period, thus acknowledging the related share capital increase of €10,635.30. In accordance with the terms of the free shares, the Executive Board decided to lift, for four of the Company’s employees and a former Executive Board member, the continued service condition to which the definitive acquisition of their free shares is subject, notwithstanding the termination of their employment agreement or corporate office. The impact of share-based payments on income is disclosed in Note 17. As of December 31, 2023, the assumptions related to the estimated vesting of the founders’ warrants, the warrants and performance stock-options have been updated (see Note 17). 10.4 Warrants (BSA) Equity Line KEPLER CHEUVREUX On May 18, 2022, in accordance with the twenty-first resolution adopted at the April 28, 2021 annual shareholders’ meeting, the Executive Board decided, with the prior approval of the Supervisory Board, to implement an equity line financing with Kepler Cheuvreux for the following twenty-four months and, accordingly, to issue to Kepler Cheuvreux a total of 5,200,000 warrants to subscribe for the same number of the Company’s ordinary shares ( bons de souscription d’actions or BSA Kepler). Although Kepler Cheuvreux is acting as the underwriter of the equity line program, Kepler Cheuvreux does not intend to maintain ownership of any shares issued in conjunction with the equity line. Instead, it is expected that Kepler Cheuvreux will sell these shares on the regulated market of Euronext Paris or to investors through block trades. The main terms and conditions of the BSA Kepler are described in the table below: BSA Kepler Date of the shareholders’ meeting April 28, 2021 Date of grant by the Executive Board May 18, 2022 Maximum number of BSAs authorized 5,200,000 Total number of BSAs granted 5,200,000 Number of shares to which the BSA were likely to give right on the date of their grant 5,200,000 Starting date for the exercise of the BSA (1) BSA expiry date (2) BSA issue price 500 € in the aggregate Exercise price per new share (3) Terms of exercise (1)(4) Number of shares subscribed as of the date of the Annual Report 0 Total number of forfeited or cancelled BSAs as of the date of the Annual Report 0 Total number of BSAs outstanding as of the date of the Annual Report 5,200,000 Total number of shares available for subscription as of the date of the Annual Report (considering the conditions of exercise of the BSAs) 5,200,000 Maximum total number of shares that may be subscribed for upon exercise of all outstanding BSAs (assuming that all the conditions for the exercise of said BSAs are met) 5,200,000 (1) Subject to meeting the contractual conditions, Kepler Cheuvreux undertakes to exercise the BSA Kepler within 24 months of their date of issue. On December 22, 2023, the agreement has been extended by 120 days to September 2024. These conditions include: (i) Unless Kepler Cheuvreux and the Company agree differently from time to time, a limit as to the number of new shares to be issued as part of the exercise of stock warrants: the cumulative number of new shares issued upon exercise of the BSA Kepler shall be less than or equal to 25% of the total number of Nanobiotix shares traded on the regulated market of Euronext Paris (excluding block trades) from the date of the implementation of the financing facility, and (ii) a limit as to the exercise price of the BSA Kepler: such exercise price shall not be lower than, in any case, the price limit set forth by the combined shareholders’ meeting of the Company dated April 28, 2021. (2) The BSA Kepler may be exercised during a 24-month period as from their issuance date (subject to (i) a prior termination by the Company, at any time, or (ii) an extension for a maximum 6-month period in certain situations), at the end of which the BSA Kepler that are still outstanding shall be purchased by the Company at their issuance price and cancelled. (3) The exercise price of the BSA Kepler will be based on the lower of the two daily volume-weighted average share prices for the two trading days preceding each issuance, less a maximum discount of 5.0%. (4) The BSA Kepler may be exercised at any time in whole or in part by Kepler Cheuvreux during their exercise period, subject to a minimum proceeds condition. Considering that the Company can terminate or suspend the Equity line agreement by buying back the BSAs or increasing the minimum exercise price and that Kepler Cheuvreux is committed to subscribe the shares if the conditions are met, the BSAs granted to Kepler Cheuvreux under the Equity line agreements are off-balance sheet commitments and therefore there is no option or derivative. As structuring commissions are not related to an asset or liability, structuring commissions are expensed at the initiation of the contract . No warrants has been exercised as of December 31, 2023. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2023 | |
Provisions [abstract] | |
Provisions | Provisions Accounting policies Provisions for contingencies and charges Provisions for contingencies and charges reflect obligations resulting from various disputes and risks for which due dates and amounts are uncertain, that the Company may face as part of its normal business activities. A provision is recognized when the Company has a present obligation (legal or constructive) as a result of a past event, where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The amount recorded in provisions is a best estimate of the outflow of resources that will be required to settle the obligation, discounted, if required, at year-end. Provisions for retirement obligations Company employees receive the retirement benefits provided for by law in France: • Lump-sum retirement benefit paid by the Company to employees upon retirement (defined benefit plan); and • Pension benefits paid by social security agencies, which are financed through employer and employee contributions (State defined contribution plan). The cost of retirement benefits payable under defined benefit plans is estimated using the projected credit unit cost method. Past service cost related to non-vested benefits is recognized as an expense (increase in the benefits granted) or as income (reduction in the benefits granted) when the plan amendment or curtailment occurs. Actuarial gains and losses are recognized directly and in full in other comprehensive income (loss) under equity. Retirement benefit obligations are measured at the present value of future estimated payments by reference to market yields on high quality corporate bonds with a maturity equivalent to that estimated for the plan. The Company uses experts to carry out an annual valuation of the plans. The Company's payments to defined contribution plans are recognized as expenses in each period to which they relate. As of December 31, 2023 and 2022, the Company updated the parameters for calculating the lump-sum retirement benefit plan to take recent changes into account. The salary increase rate, staff turnover and discount rate were all updated (see Note 11.2 for further details on assumptions used). (in thousands of euros) As of January 1, 2023 Increases Decreases (1) Currency translation As of December 31, 2023 Lump-sum retirement benefits 270 53 — — 323 Non-current provisions 270 53 — — 323 Provisions for disputes 177 383 (46) (8) 506 Provisions for charges 150 104 — — 253 Current provisions 327 487 (46) (8) 760 Total provisions 597 540 (46) (8) 1,083 (in thousands of euros) As of January 1, 2022 Increases Decreases (1) Currency translation As of December 31, 2022 Lump-sum retirement benefits 318 — (48) — 270 Non-current provisions 318 — (48) — 270 Provisions for disputes 94 80 — — 177 Provisions for charges 16 150 (16) — 150 Current provisions 110 230 (16) — 327 Total provisions 428 230 (64) — 597 (1) See Statement of consolidated cash flows and Note 16.4 for the nature of these decreases 11.1 Current provisions Provisions for disputes include ongoing employee disputes. The increase during 2023 and 2022 of €0.3 million and €80 thousand respectively, were due to new employee disputes that occurred during the respective years. The increase in provisions for charges is due to a provision of €0.1 million that has been allocated for the social levy on attendance fees. A provision for a rent-free period on premises amounting to €0.2 million was recorded as of December 31, 2022, and no changes were noted this fiscal year. 11.2 Non-current provisions Commitments for retirement benefits As of December 31, (in thousands of euros) 2023 2022 2021 Provision as of beginning of period 270 318 414 Cost of services 65 75 84 Interests / discounting costs 10 3 1 Expense for the period 75 78 85 Gains or losses related to experience (13) (29) (133) Gains or losses related to change in demographic assumptions (30) 5 (5) Gains or losses related to change in financial assumptions 21 (102) (43) Actuarial gains or losses recognized in other comprehensive income (22) (126) (182) Provision as of end of period 323 270 318 The assumptions used to measure lump-sum retirement benefits are as follows: As of December 31, Measurement date 2023 2022 2021 Retirement assumptions Management: Age 66 Non-management: Age 64 Management: Age 66 Non-management: Age 64 Management: Age 66 Non-management: Age 64 Social security contribution rate 45 % 44 % 42 % Discount rate 3.30 % 3.69 % 0.98 % Mortality tables Regulatory table INSEE 2017 - 2019 Regulatory table INSEE 2016 - 2018 Regulatory table INSEE 2015 -2017 Salary increase rate (including inflation) Executive: 4% Non-Executive: 3.5% Executive: 4% Non-Executive: 3.5% Executive: 3% Non-Executive: 2.5% Staff turnover Constant average rate of 8.4% Constant average rate of 5.86% Constant average rate of 5.86% Duration 20 years 20 years 20 years The rights granted to Company employees are defined in the Collective Agreement for the Pharmaceutical industry (manufacturing and sales of pharmaceutical products). The staff turnover rate was determined using a historical average over the 2018-2023 period. The sensitivity to the discount rate and to the salary growth is as follows: Discount rate 3.05% 3.30% 3.55% Defined Benefit Obligation as of December 31, 2023 (in thousands of euros) 337 323 309 The Company does not expect to pay a material amount of benefits for the five |
Financial liabilities
Financial liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial liabilities [abstract] | |
Financial liabilities | Financial liabilities Accounting policies for financial liabilities are described in Note 14 - Financial instruments included in the statement of financial position and impact on income .’ Details of financial liabilities As of December 31, (in thousands of euros) 2023 2022 Lease liabilities – Short term 1,199 962 Repayable BPI loan advances - Short term 592 500 PGE Loans* 2,583 2,632 EIB Loan – Short term 649 467 Total current financial liabilities 5,022 4,560 Lease liabilities – Long term 3,883 4,568 Repayable BPI loan advances – Long term 1,872 2,258 PGE Loans* 4,028 6,495 EIB loan – Long term 35,761 35,287 Total non-current financial liabilities 45,543 48,608 Total financial liabilities 50,565 53,169 (*)”PGE”or in French “Prêts garantis par l’Etat” are state-guaranteed loans Repayable BPI loan advances The Company received repayable advances from Banque Publique d’Investissement (formerly known as OSEO Innovation). Some of these advances are interest-free and are fully repayable in the event of technical and/or commercial success. The other advances bear 1.56% interest. The amount to be reimbursed corresponds to the amount received to date, €2.1 million, increased by the interest amount (see Note 12.1). In June 2020, Curadigm SAS obtained a €500 thousand conditional advance from Bpifrance, €350 thousand of which was received at the signature date. The remaining €150 thousand was released by Bpifrance after the completion of the project in October 2022, and the funds were received in January 2023. EIB loan In July 2018, the Company obtained a fixed rate and royalties-based loan from the EIB. The loan could reach a maximum amount of €40 million, divided in three tranches. The first tranche, with a nominal value of €16 million, was received in October 2018 and would have been initially repaid in full in 2023. The accumulated fixed-rate interest related to this tranche was to be paid at the principal repayment date. The second tranche, with a nominal value of €14 million, was received in March 2019 and was initially to be repaid between 2021 and 2024. The accumulated fixed-rate interest related to this second tranche was initially to be paid twice a year together with the principal due. The specific conditions for the third tranche were not fulfilled before the July 31, 2021 deadline. Accordingly, the third tranche is no longer available to the Company. Pursuant to the Amendment Agreement signed on October 18, 2022, as described in Note 4.4 - Financing Agreement with the European Investment Bank (“EIB”) , the Company determined that the modifications to the agreement are substantial and it is to be accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability in accordance with IFRS 9. Therefore the Company estimated the fair value of the new debt that shall be recorded as a liability at the Amendment Agreement date. The fair value of the new debt was equal to the present value of the probable future cash flows based on management business plan using an average discount rate representing the prevailing market conditions at date. Consequently the company recognized a financial loss of €6.9 million arising from the difference between (i) the carrying amount of the financial liability extinguished (€27.5 million) and the fair value of the new financial liability (€34.4 million). After initial recognition of the new debt, this financial liability has been measured at amortized cost. Pursuant to the terms of the Amendment Agreement, the Company is also required: • during a six-year royalty calculation period commencing upon commercialization of NBTXR3, to pay (on each June 30 with respect to the preceding year within the calculation period) additional interest in the form of royalties, calculated according to the number of tranches that have been withdrawn and indexed on the annual sales turnover (see Note 4.4 - Financing Agreement with the European Investment Bank (“EIB”) ). On the date of the Amendment Agreement, the Company calculated estimated future royalties based on its forecast of future annual sales turnover, and this estimated amount was included in the amortized cost of the loan. When the Company revises its forecasts of estimated royalties, the carrying value of the liability is subsequently adjusted based on the revised estimate of future royalties, which is discounted at the original average discount rate. The related impact on the carrying value of the liability is recorded as financial income or expense, as applicable; and • to pay to the EIB a milestone totaling €20 million which was initially due and payable in two equal instalments. An advance payment of this milestone shall be paid if and when the Company receives upfront or milestone revenues from deals. The amount of the milestone was included in the amortized cost of the loan. For the year ended December 31, 2023 the Company paid an aggregate amount of €0.8 million as advance payment of this milestone, including advance payment in connection with the financial covenant waiver as described below. As part of the Amendment Agreement signed in October 2022, the Company was initially required to maintain a minimum cash and cash equivalents balance equal to the outstanding principal owed to EIB . At last, the EIB has finally agreed to the removal of this minimum cash and cash equivalent covenant, effective October 13, 2023, subject to the following conditions: (i) the Company’s repayment of the PIK prepayment amount of approximately €5.4 million in accordance with the terms of the EIB loan in respect of PIK interest accrued through October 12, 2023 (the “PIK prepayment condition”), (ii) the introduction of an additional mechanism for further prepayment of the €20.0 million milestone payment required under the EIB loan, which will require prepayments equal to a tiered low single digit percentage of future equity or debt financing transactions raising up to an aggregate of €100 million, on a cumulative basis, increasing to a mid-single digit percentage for such financings greater than €100 million (the “Milestone Prepayment Mechanism”). The PIK prepayment condition was satisfied on October 12, 2023, allowing the definitive waiver removal. The additional prepayment condition on the €20.0 million milestone was met further to the global offering equity raise subscribed between November and December 2023, triggering the prepayment of €0.8 million to the EIB (outstanding balance of €19.2 million still due as of December 31, 2023). All other covenants included in the 2018 finance contract remain unchanged. The company estimated the fair value of the new debt, which required determining the present value of estimated discounted future cash flows using an average interest rate representing the prevailing market conditions at the restructuring date. The estimation involved projecting debt cash outflows based on net sales included in the Business Plan as determined by the company's Strategy direction. Fixed flows, including principal repayments and interest payments at a fixed rate are consistent with the payments of a standard corporate borrowing or bond. To estimate the present value of these fixed flows, the company has determined a discounting rate consisting of a base rate and a credit spread. The base rate was estimated by considering EUR-denominated interest rate swaps at different maturities matching principal and interest payments at financing date (October 18, 2022), while the credit spread was determined by considering corporate bond spread curves of American and European healthcare groups at financing date, assuming a CCC rating for the company. The average between EUR and USD curves was retained due to the company’s international operations, and the high volatility of the EUR curve was also taken into account. The discount rate for fixed flows ranged from 14.95% to 16.09%, depending on the maturity, with the new financing denominated in EUR. Future royalty payments depend on the company’s net sales forecast and therefore depends on its financial performance. Accordingly, in order to estimate the present value of royalty payments, the company has retained a Weighted Average Cost of Capital (“WACC”) applicable to Nanobiotix, which is traditionally used to discount future operating cash flows which are exposed to standard operating risk (without taking into account the risk of unsuccessful development of studies which is already captured in the cashflows). Using a detailed calculation methodology, the company has estimated the WACC on October 18, 2022 at 30%. The combination of the above results is an average discount rate of 21.3%. Consequently the company recognized a financial loss of €6.9 million arising from the difference between (i) the carrying amount of the financial liability extinguished (€27.5 million) and the fair value of the new financial liability (€34.4 million). After initial recognition of the new debt, this financial liability will be measured at amortized cost based on an average discount interest rate of 21.3%. The P&L impact of fair value comprised both the effect of determining the initial fair value of the debt and the impact of discounting over the year (from October 18, 2022, to December 31, 2022, equivalent to €1.4 million). In the course of the year 2023, following the execution of the license agreement with Janssen (see Note 4.1 - Janssen Agreement), the Company reassessed the present value of estimated discounted future cash flows using the initial discount rate of 21.3%. Consequently, the Company recorded a catch-up adjustment to the debt through profit and loss for an amount of €0.3 million. As of December 31, 2023, the Company conducted a sensitivity analysis, changing the key assumptions used to determine the amortized cost and the fair value of the EIB loan : • Debt at amortized cost - sensitivity • Commercialization date sensitivity analysis With constant average discount rate and cumulated net sales : (in thousands of euros) As of December 31, 2023 Commercialization date sensitivity Total debt at amortized cost P&L impact Global impact Based date 36,409 — — 1 year after 33,982 2,427 2,427 (*) one year postponing versus first year of commercialization • Cumulated net sales sensitivity analysis With constant average discount rate and commercialization date : (in thousands of euros) As of December 31, 2023 Cumulated net sales sensitivity Total debt at fair value P&L impact Global impact Net sales -10% 36,718 309 309 Based cumulated net sales 36,409 — — Net sales +10% 36,100 (309) (309) • Debt at fair value - sensitivity • Commercialization date sensitivity analysis With the same average discount rate and cumulated net sales : (in thousands of euros) As of December 31, 2023 Commercialization date sensitivity Total debt at amortized cost P&L impact Global impact Based date 38,699 — — 1 year after 35,749 2,950 2,950 (*) one year postponing versus first year of commercialization • Cumulated net sales sensitivity analysis With constant average discount rate and commercialization date : (in thousands of euros) As of December 31, 2023 Cumulated net sales sensitivity Total debt at fair value P&L impact Global impact Net sales -10% 38,906 207 207 Based cumulated net sales 38,699 — — Net sales +10% 38,492 (207) (207) PGE loans The Company announced in June 2020 that it received approval for financing from both HSBC and Bpifrance for €5 million each in the form of state-guaranteed loans (“Prêts Garantis par l’État”, or “PGE” in France). This “HSBC” loan is booked at amortized cost for a minimum of 12 months and allows the Company to delay the reimbursement of this 12 months loan by 1 to 5 years. The Company used this option and the reimbursement date was delayed by 1 year, starting in September 2022. The effective interest rate amounts to 0.31%. As of December 31, 2023, €1.3 million was repaid from HSBC PGE loan. On July 10, 2020, the Company entered into the second €5 million PGE loan with Bpifrance (the ‘‘Bpifrance PGE Loan’’). The Bpifrance PGE loan has a six-year term and is 90% guaranteed by the French State. The Bpifrance PGE loan did not bear any interest for the first 12-month period but, following such 12-month period and for the subsequent 5 years, bears an interest rate of 2.25% per annum, inclusive of an annual State guarantee fee of 1.61% per annum. The principal and interest of the Bpifrance PGE loan is being reimbursed in 20 quarterly installments as from October 31, 2021 until July 26, 2026. As of December 31, 2023, €1.4 million was repaid from Bpifrance PGE. 12.1 Conditional advance, bank loan and loans from government and public authorities The table below shows the detail of liabilities recognized on the statements of financial position by type of conditional advances and loans from government and public authorities. Conditional advances and loans from government and public authorities (in thousands of euros) Bpifrance advance Interest-free Bpifrance loan EIB Loan Curadigm Bpifrance advance Total As of January 1, 2022 2,266 493 26,374 300 29,433 Principal received — — — — — Impact of discounting and accretion 3 7 6,855 17 6,882 Accumulated fixed interest expense accrual 47 — 1,643 — 1,690 Accumulated variable interest expense accrual — — 3,740 — 3,740 Repayment — (375) (2,858) — (3,233) As of December 31, 2022 2,316 125 35,754 317 38,512 Principal received — — — 150 150 Impact of discounting and catch-up 16 — (285) (20) (289) Accumulated fixed interest expense accrual 34 — 2,385 — 2,419 Accumulated variable interest expense accrual — — 5,195 — 5,195 Repayment (300) (125) (6,639) (50) (7,114) As of December 31, 2023 2,066 — 36,409 397 38,873 For the fiscal year ending December 31, 2023, the changes in the EIB's debt is primarily attributable to the increase in accumulated accrued variable interests following the Amendment Agreement, almost fully offset by the repayments made during 2023, which the most significant is the €5.4 million PIK interest payment to EIB executed as of October 12, 2023 in accordance with the waiver removal conditions, and an aggregate amount of €0.8 million paid as advance milestones payments, including the advance payment in connection with the financial covenant waiver. (See Note 4.4) Also, in the course of the year 2023, following the execution of the license agreement with Janssen (see Note 4.1 - Partnership with Janssen Pharmaceutica NV and Share Purchase Agreement with Johnson & Johnson Innovations - JJDC), the Company reassessed the present value of estimated discounted future cash flows using the initial discount rate of 21.3%. Consequently, the Company recorded a catch-up adjustment to the debt through profit and loss for an amount of €0.3 million. During the year ended December 31, 2022 the increase in the EIB loan of €6.9 million relates to the impact in the framework of the Amendment Agreement with EIB. The Company determined that the modifications of the agreement are substantial and is to be accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability in accordance with IFRS 9 This financial loss arises from the difference between the carrying amount of the financial liability extinguished (€27.5 million) and the fair value of the new financial liability as of the Amendment Agreement date (€34.4 million). (See Note 4.4) The expected royalty payments, previously estimated at €3.4 million as of December 31, 2021, according to the former EIB contract, have been updated to €32.4 million as of December 31, 2022, due to the revised terms of the EIB debt amendment and the adjusted sales forecast. As of December 31, 2023, the royalty payments to be made in the future are now estimated at €36.6 million, reflecting the latest revisions made to the sales forecast in 2023. Bank loan (in thousands of euros) HSBC “PGE” (1) Bpifrance “PGE” (1) Total As of January 1, 2022 5,030 5,038 10,068 Principal received — — — Impact of discounting and accretion (1) (7) (8) Accumulated fixed interest expense accrual (2) 42 111 153 Repayment (661) (425) (1,086) As of December 31, 2022 4,409 4,717 9,127 Principal received — — — Impact of discounting and accretion (9) (6) (15) Accumulated fixed interest expense accrual (3) 41 90 131 Repayment (1,287) (1,345) (2,632) As of December 31, 2023 3,155 3,457 6,612 ( 1)”PGE”or in French “Prêts garantis par l’Etat” are state-guaranteed loans (2) In 2022 the fixed interest accrual refers to guaranteed fee of 0.25% of the principal of the HSBC PGE loan and to a guarantee fee of 0.25% added to a fixed interest rate of 1.36% for the Bpifrance PGE loan, respectively. (3) In 2023 the fixed interest accrual refers to guaranteed fee of 0.25% of the principal of the HSBC PGE loan and to a guarantee fee of 0.25% added to a fixed interest rate of 1.36% for the Bpifrance PGE loan, respectively. 12.2 Lease liabilities The table below shows the detail of changes in lease liabilities recognized on the statements of financial position over the periods disclosed: (in thousands of euros) Lease liabilities As of January 1, 2022 6,519 New lease contracts — Indexation effect on current lease commitment 252 Impact of discounting and accretion (26) Fixed interest expense 238 Repayment of lease (1,331) Early termination of lease contracts (122) As of December 31, 2022 5,530 New lease contracts — Indexation effect on current lease commitment 376 Impact of discounting and accretion (31) Fixed interest expense 203 Repayment of lease (996) Early termination of lease contracts — As of December 31, 2023 5,081 12.3 Changes in liabilities arising from financing activities The table below shows the detail of changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes. (in thousands of euros) Bpifrance advance Interest-free Bpifrance loan Curadigm Bpifrance advance EIB Loan HSBC Bpifrance Lease Liabilities Total January 1, 2022 2,266 493 300 26,374 5,030 5,038 6,519 46,020 Principal received — — — — — — 252 252 Decrease in loans and conditional advances — (375) — (2,333) (622) (313) — (3,642) Interest paid — — — (525) (39) (113) — (677) Interest paid (IFRS 16) — — — — — — — — Payment of lease liabilities — — — — — — (1,331) (1,331) Early termination of lease contracts — — — — — — (122) (122) Cash flows from — (375) — (2,858) (661) (425) (1,079) (5,520) Indexation effect on current lease commitment — — — — — — — — Impact of discounting and catch-up 3 7 — 6,855 (1) 7 (26) 6,848 Accumulated fixed interest expense accrual 47 — — 1,643 42 111 238 2,081 Accumulated variable interest expense accrual — — — 3,740 — — — 3,740 Non-cash from financing activities 50 7 — 12,238 41 104 212 12,669 As of December 31, 2022 2,316 125 317 35,754 4,409 4,717 5,530 53,169 Principal received — — 150 — — — — 150 Decrease in loans and conditional advances (300) (125) (50) — (1,246) (1,250) — (2,971) Interest paid — — — (6,639) (41) (95) — (6,775) Interest paid (IFRS 16) — — — — — — (203) (203) Payment of lease liabilities — — — — — — (793) (793) Cash flows from (300) (125) 100 (6,639) (1,287) (1,345) (996) (10,592) Indexation effect on current lease commitment — — — — — — 376 376 Impact of discounting and catch-up 16 — (20) (285) (9) (6) (31) (334) Accumulated fixed interest expense accrual 34 — — 2,385 41 90 — 2,550 Accumulated variable interest expense accrual — — — 5,195 — — 201 5,396 Non-cash from financing activities 50 — (20) 7,295 32 84 547 7,988 As of December 31, 2023 2,066 — 397 36,409 3,155 3,457 5,081 50,565 12.4 Due dates of the financial liabilities The due dates for repayment of the advances loans and lease liabilities at their nominal value and including fixed-rate interest are as follows: As of December 31, 2023 (in thousands of euros) Less than 1 year Between 1 and Between 3 and More than 5 years Bpifrance 500 1,637 — — Interest-free Bpifrance loan — — — — Curadigm interest-free Bpifrance advance 100 200 175 — HSBC “PGE” 1,285 1,904 — — Bpifrance “PGE” 1,317 2,237 — — EIB fixed rate loan 692 19,946 17,872 51,246 Lease liabilities 1,219 2,434 1,227 621 Total 5,113 28,358 19,274 51,867 As of December 31, 2022 (in thousands of euros) Less than 1 year Between 1 and Between 3 and More than 5 years Bpifrance 300 1,300 837 — Interest-free Bpifrance loan 125 — — — Curadigm interest-free Bpifrance advance 75 200 75 — HSBC “PGE” (1) 1,287 2,557 631 — Bpifrance “PGE” (1) 1,345 2,605 948 — EIB fixed rate loan 467 7,630 30,184 19,869 Lease liabilities 962 2,292 1,904 971 Total 4,560 16,584 34,579 20,840 (1)”The Company will reimburse the two “PGE”or (“Prêts garantis par l’Etat” or state-guaranteed loans) over 5 years with a deferral of 1 year (last reimbursement being in 2026), for the reasons mentioned in the paragraph below. The long-term debt obligations relate to the fixed and variable rate interest and principal payable on repayable advances, on interest-free Bpifrance loan, on EIB loan, PGE loans and lease liabilities. These amounts reflects the committed amounts under those contracts as of December 31, 2023. As of December 31, 2023, the table above indicates that the EIB loan's outstanding balance is €89.8 million, which includes €33.9 million for the principal and fixed rate interest to be paid over the term of the loan, out of which €6.6 was expensed during the year ended December 31, 2023, €19.2 million of milestones to be paid under the new Milestone advance payments mechanism schedule which will require prepayments equal to a tiered low single digit percentage of future equity or debt financing transactions raising up to an aggregate of €100 million, on a cumulative basis, increasing to a mid-single digit percentage for such financings greater than €100 million, and €36.6 million for the estimated royalty payments to be made in the future, based on the forecasted sales expected to be generated by the Company’s partners during the six-year period beginning upon NBTXR3 commercialization.(see Notes 4.4 and 12.1). The outstanding balance of the EIB loan included in the table above was €58.1 million as of December 31, 2022, including €12.8 million of total fixed rate interest to be paid over the term of the loan, out of which €2.3 million was expensed during the year ended December 31, 2022 and €20 million of milestones payable in two equal installments at the earlier on, respectively, June 30, 2026 and June 30, 2027 and, failing to commercialize, at the new maturity date of the loan. The balance in the table above does not include €32.4 million of estimated royalty payment, based on the consolidated forecasted sales expected to be generated by the Company during the six-year period beginning upon NBTXR3 commercialization (see Notes 3.2, 4.3 and 12.1). |
Trade payables and other curren
Trade payables and other current liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Trade payables and other current liabilities | Trade payables and other current liabilities 13.1 Trade and other payables Accounting policies Accounting policies for Trade and other payables are described in Note 14 - Financial instruments included in the statement of financial position and impact on income Accrued expenses Taking into account the time lag between the time at which treatment costs are incurred in studies or clinical trials and the time at which such costs are invoiced, the Company estimates an amount of accrued expenses to record in the financial statements at each reporting date. The treatment costs for patients were estimated for each study based on contracts signed with clinical research centers conducting the trials, taking into account the length of the treatment and the date of injection of each patient. The total amount estimated for each study has been reduced by the amount of invoices received at the closing date. Details of trade and other payables As of December 31, (in thousands of euros) 2023 2022 Fixed asset payables 173 228 Accrued expenses - clinical trials 11,369 5,394 Trade payables & other accruals 6,695 3,999 Total trade and other payables 18,237 9,621 Trade and other payables are not discounted, as none of the amounts are due in more than one year. Fixed Assets Payables amounting to €0.2 million at the end of December 2023 relate to the purchase of a reactor for the laboratory in Paris. Accrued Expenses related to clinical trials balance increased by €6.0 million between December 2022 and December 2023 mainly due to NANORAY-312 development in 2023, amounting to a €7.1 million accrual as of December 31, 2023, compared to the 3.9 million accrual as of December 31, 2022, and to the study 1100 development in 2023, amounting to a €2.9 million accrual as of December 31, 2023, compared to the 1.0 million accrual as of December 31, 2022. The increase in trade payables and other accruals balance of €2.7 million is mainly due to ICON, our CRO for NANORAY-312, which grew from €0.3 million in the previous year to €2.6 million, which represent a milestone payment invoiced but not due in December 31, 2023. 13.2 Other current liabilities As of December 31, (in thousands of euros) 2023 2022 Tax liabilities 451 358 Payroll tax and other payroll liabilities 6,928 6,237 Other payables 247 260 Other current liabilities 7,627 6,855 Payroll tax and other payroll liabilities consist primarily of payroll taxes, namely the employer contribution to be paid on free shares, accrued bonuses, vacation days and related social charges. Payroll tax and other payroll liabilities increased by €0.7 million from €6.8 million as of December 31, 2022 to €7.5 million as of December 31, 2023, mainly due to bonus accruals increase of €1.1 million partially offset by french social charges payable decrease of €0.4 million. 13.3 Deferred income and contract liabilities As of December 31, (in thousands of euros) 2023 2022 Deferred income 128 55 Current Contract liabilities 18,100 16,518 Deferred income and current contract liabilities 18,228 16,573 Current contract liabilities increased by €1.6 million from €16.5 million as of December 31, 2022, to €18.1 million as of December 31, 2023, which is due to the revaluation of the fair value of the new contract liability relating to the Asia Licensing Agreement contract following the novation agreement. The initial payment received in 2021 from LianBio was €16.5 million. The current contract liabilities are accounted for in accordance with IFRS 15. See Note 4.1 Significant transactions about Janssen License Agreement and Note 15 Revenues and other income for more details. |
Financial instruments included
Financial instruments included in the statement of financial position and impact on income | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial instruments included in the statement of financial position and impact on income | Financial instruments included in the statement of financial position and impact on income Accounting policies Non-current financial assets Non-current financial assets are recognized and measured in accordance with IFRS 9 – Financial Instruments. No non-current financial assets are estimated at fair value through other comprehensive income (OCI). Pursuant to IFRS 9 – Financial Instruments , financial assets are classified in three categories according to their nature and the intention of management: • Financial assets at fair value through profit and loss; • Financial assets at fair value through other comprehensive income; and • Financial assets at amortized cost. All regular way purchases and sales of financial assets are recognized at the settlement date. Financial assets at fair value through profit or loss This category includes marketable securities, cash and cash equivalents. They represent financial assets held for trading purposes, i.e., assets acquired by the Company to be sold in the short-term. They are measured at fair value and changes in fair value are recognized in the consolidated statements of operations as financial income or expense, as applicable. Financial assets at amortized cost This category includes other financial assets (non-current), trade receivables (current) and other receivables and related accounts (current). Other financial assets (non-current) include advances and security deposits and guarantees granted to third parties as well as term deposits and restricted cash, which are not considered as cash equivalents. They are non-derivative financial assets with fixed or determinable payments that are not listed on an active market. They are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition or issue of the financial asset, except trade receivables that are initially recognized at the transaction price as defined in IFRS 15. After initial recognition, these financial assets are measured at amortized cost using the effective interest rate method when both of the following conditions are met: • The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Gains and losses are recorded in the consolidated statements of operations when they are derecognized, subject to modification of contractual cash flows and/or impaired. IFRS 9 – Financial Instruments requires an entity to recognize a loss allowance for expected credit losses on a financial asset at amortized cost at each Statement of Financial Position date. The amount of the loss allowance for expected credit losses equals: (i) the 12 - month expected credit losses or (ii) the full lifetime expected credit losses. The latter applies if credit risk has increased significantly since initial recognition of the financial instrument. An impairment is recognized, where applicable, on a case–by–case basis to take into account collection difficulties which are likely to occur based on information available at the time of preparation of the financial statements. Disputed receivables are written-off when certain and precise evidence shows that recovery is impossible and existing credit loss allowance are released. Financial assets are monitored for any indication of impairment. Under IFRS 9, the impairment model is based on the accounting on expected credit losses during the life of the financial assets. A financial asset is impaired if its credit risk, determined with both historic and prospective data, increased significantly since its initial booking. The loss will impact the net income (loss) recorded to the statement of operations. Financial liabilities The Company receives assistance in the form of grants, conditional advances and interest-free loans. Under IFRS, a repayable advance that does not require the payment of annual interest is considered to be an interest-free loan. The difference between the amount of the advance at historical cost and the advance discounted at the Company's average borrowing rate is considered to be a government grant. These grants are deferred over the estimated duration of the projects they finance. The long-term (more than one year) portion of conditional advances is recognized in non-current financial liabilities and the short-term portion in current financial liabilities. Non-repayable conditional loans are treated as government grants when there is reasonable assurance that the Company will comply with the conditions for non-repayment. Otherwise, they are classified in liabilities. Government grants made available to offset expenses or losses already incurred, or as immediate financial assistance to the Company with no future related costs, are recognized in income in the period in which the grant is allocated. Financial liabilities are recognized and measured in accordance with IFRS 9 – Financial Instruments. Financial liabilities, including trade and other payables are valued at amortized cost. Financial liabilities at amortized cost Loans and other financial liabilities are recognized and measured in accordance with IFRS 9 – Financial Instruments . They are recognized at amortized cost, which is defined under IFRS 9 as the initial value of a financial asset or liability, after deduction of reimbursement of principal, increased or decreased by the accumulated amortization, calculated using the effective interest rate method. Transaction costs directly attributable to the acquisition or issuance of financial liabilities are deducted from the financial liabilities. The costs are then amortized on an actuarial basis over the life of the liability using the effective interest rate, namely the rate that exactly discounts estimated future cash flows to the net carrying amount of the financial liability in order to determine its amortized cost. Detail of financial instruments included in the statements of financial position and impact on income As of December 31, 2023 (in thousands of euros) Book value on Financial assets Assets and liabilities Fair value (1) Non-current financial assets Non-current financial assets 299 — 299 299 Trade receivables 19,004 — 19,004 19,004 Cash and cash equivalents 75,283 — 75,283 75,283 Total assets 94,586 — 94,586 94,586 Financial liabilities Non-current financial liabilities 45,543 — 45,543 47,821 Current financial liabilities 5,022 — 5,022 5,033 Trade payables and other payables 18,237 — 18,237 18,237 Total liabilities 68,802 — 68,802 71,091 (1) The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance, the EIB loan and the HSBC and Bpifrance state-guaranteed loans, was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value. As of December 31, 2023, the carrying value of receivables and current liabilities is assumed to approximate their fair value. As of December 31, 2022 (in thousands of euros) Book value on the statement of financial position Financial assets carried at fair value through profit or loss Assets and liabilities carried at amortized cost Fair value (1) Non-current financial assets Non-current financial assets 291 — 291 291 Trade receivables 101 — 101 101 Cash and cash equivalents 41,388 — 41,388 41,388 Total assets 41,780 — 41,780 41,780 Financial liabilities Non-current financial liabilities 48,608 — 48,608 48,608 Current financial liabilities 4,560 — 4,560 4,560 Trade payables and other payables 9,621 — 9,621 9,621 Total liabilities 62,789 — 62,789 62,789 (1) The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance, the EIB loan and the HSBC and Bpifrance state-guaranteed loans, was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value.. Management of financial risks The principal financial instruments held by the Company are instruments classified as cash and cash equivalents. These instruments are managed with the objective of enabling the Company to finance its business activities. The Company's policy is to not use financial instruments for speculative purposes. It does not use derivative financial instruments. The principal financial risks faced by the Company are liquidity, foreign currency exchange, interest rate and credit risks. Liquidity risk Liquidity risk arises from the Company’s financial liabilities and significant expenses related to development and manufacturing of nanotechnology products and conducting clinical studies. The Company has incurred operating losses since its inception in 2005 and expects to continue to incur significant losses in the near term. As of December 31, 2023, the Company had cash and cash equivalents of €75.3 million. The Company’s current level of cash and cash equivalents is expected to be sufficient to meet its projected financial obligations and fund its operations beyond the next twelve months from the date of authorization for issuance of these consolidated financial statements. As of October 2023, the Company is no longer subject to the minimum cash and cash equivalents covenant under the EIB loan (See Note 4.4 - Financing Agreement with the EIB ). Additionally, the Equity Line (PACEO), signed with Kepler Cheuvreux and executed in May 2022, remains available to provide financing flexibility until its expiration in September 2024. In the longer term, the Company may seek additional liquidity through product or royalty financing, new business development partnerships, collaborative or strategic alliances, additional financing through public or private offerings of capital or debt securities, grants or subsidies, and through the implementation of cash preservation activities to reduce or defer discretionary spending. Foreign Currency Exchange Risk The functional currency of Nanobiotix S.A. is the euro. Exposure to foreign currency exchange risk is mainly derived from certain of its revenue. Under the global licensing, co-development, and commercialization agreement with Janssen, and previously under its License Agreement with LianBio, the Company has received payments in U.S dollars. Additionally, the Company is also exposed through intragroup transactions between Nanobiotix S.A. and its U.S. subsidiaries, for which the functional currency is the U.S. dollar, as well as trade relations with customers and suppliers outside the euro zone. At this stage of its development, the Company does not use hedging to protect its business against exchange rate fluctuations. However, a significant increase in its business activity outside the euro zone could lead to a greater exposure to foreign currency exchange risk. If this occurs, the Company may implement a suitable hedging policy for these risks. The following table illustrates the impact of a 10% increase or decrease in the exchange rate between the euro and the U.S. dollar on the contractual assets and liabilities as of December 31, 2023, and December 31, 2022. For the year ended December 31, 2023 Impact Contracts Assets Contracts Liabilities (in thousands of euros) Increase Decrease Increase Decrease USD / Euro exchange rate 187 (187) 1,638 (1,638) Total 187 (187) 1,638 (1,638) For the year ended December 31, 2022 Impact Contracts Assets Contracts Liabilities (in thousands of euros) Increase Decrease Increase Decrease USD / Euro exchange rate — — 1,549 (1,549) Total — — 1,549 (1,549) The following table shows the impact of a 10% increase or decrease in the exchange rate between the euro and the U.S. dollar, calculated on the amounts of loans to the Company’s U.S. subsidiaries as of December 31, 2023 and December 31, 2022. For the year ended December 31, 2023 Impact Net income Equity (in thousands of euros) Increase Decrease Increase Decrease USD / Euro exchange rate 22 (22) (22) 22 Total 22 (22) (22) 22 For the year ended December 31, 2022 Impact Net income Equity (in thousands of euros) Increase Decrease Increase Decrease USD / Euro exchange rate 48 (48) (45) 45 Total 48 (48) (45) 45 Credit risk Credit risk arises from cash and cash equivalents, derivative instruments and deposits with banks and other financial institutions as well as from exposure to customer credit, in particular unpaid receivables and transaction commitments. The credit risk related to cash and cash equivalents and to current financial instruments is not material given the quality of the relevant financial institutions. The Company’s exposure to credit risk chiefly stems from trade receivables for two customers (LianBio and Janssen) as of December 31, 2023. Due to the limited number of customers, The Company appropriately monitors its receivables and their payment and clearance. The Company enters into such transactions only with highly reputable, financially sound counterparts. Interest rate risk The Company's exposure to interest rate risk is primarily related to cash equivalents and investment securities, which consist of money market mutual funds (SICAVs). Changes in interest rates have a direct impact on the interest earned from these investments and the cash flows generated. As of December 31, 2023 loans issued by the Company are exclusively fixed rate loans and thus our exposure to interest rate and market risk is deemed low. Variable interests on the EIB loan are royalty-based and are not subject to market rate risks. |
Revenues and other income
Revenues and other income | 12 Months Ended |
Dec. 31, 2023 | |
Revenue [abstract] | |
Revenues and other income | Revenues and other income Accounting policies Revenue and other income Revenue is recognized in accordance with IFRS 15. Under IFRS 15, revenue is recognized when the Company satisfies a performance obligation by transferring a distinct good or service (or a distinct bundle of goods and/or services) to a customer, i.e. when the customer obtains control of these goods or services. An asset is transferred when the customer obtains control of the asset (or service). Given the wide spectrum of therapeutic research and development opportunities, aside from the fields that the Company intends to research and develop with its own scientific and financial resources, the Company has entered and expects to enter into license and collaboration agreements with third parties in certain specific fields that have generated or will generate revenue. Therefore, each agreement has been and will be analyzed, on a case-by-case basis to determine whether the arrangement contains performance obligations to the other party and, if so, to identify the nature of these performance obligations in order to determine the appropriate accounting under IFRS 15 principles of the amounts that the Company has received or is entitled to receive from the other party, e.g. : • Development services performed by the Company to create or enhance an intellectual property controlled by the client, for which revenue is recognized over time, when services are rendered; • A transfer of control of an existing intellectual property of the Company for which revenue is recognized at the time such control is transferred; • A license: ◦ If the license is assessed to be a right to access the Company’s intellectual property as it exists throughout the license period, revenue is recognized over the license period; or ◦ If the license is a right to use the Company’s intellectual property as it exists (in term of forms and functionality), revenue is recognized when the other party is able to use and benefit from the license; or • Product supply for which the revenue is recognized once the control over the delivered products is transferred. Contingent revenue arising from successful milestones or sales-based royalties are not recognized before the related milestone has been reached or sale has occurred. Application of IFRS 15 to the Janssen Agreement In July 2023, the Company entered into the Janssen Agreement, granting Janssen an exclusive worldwide license for the development, the manufacturing and the commercialization of NBTXR3. The license is exclusive, excepting territories previously licensed to the Company initial licensee LianBio (see below). Unless terminated earlier, the Janssen Agreement will remain in effect for so long as royalties are payable under the Janssen Agreement. The Janssen Agreement may be terminated earlier by either party in the event that the other party commits an uncured material breach, or in the case of certain insolvency or bankruptcy events. Additionally, Janssen has the right to terminate the agreement without cause, provided they give prior written notice to the Company. The Company will maintain operational control of NANORAY-312 and all other currently ongoing studies, along with NBTXR3 manufacturing, clinical supply, and initial commercial supply, subject to Janssen’ right to object based on concern regarding safety risks or that the study is reasonably likely to adversely affect the development (including commercialization) of the licensed product. Janssen will be fully responsible for an initial Phase 2 study evaluating NBTXR3 for patients with stage three lung cancer. Additionally, as per the license agreement, Janssen may request that Nanobiotix transfer and assign the regulatory documentation and sponsorship for ongoing studies (including NANORAY-312) to Janssen. Following the assignment, if it occurs, Janssen will act as the study sponsor and Nanobiotix will continue to conduct the studies in accordance with established protocols. Following the HSR antitrust clearance, the Company received an upfront cash licensing fee of $30 million. The Company is eligible for success-based payments of up to $1.8 billion, in the aggregate, relating to potential development, regulatory, and sales milestones. Moreover, the agreement includes a framework for additional success-based potential development and regulatory milestone payments of up to $650 million, in the aggregate, for five new indications that may be developed by Janssen at its sole discretion; and of up to $220 million, in the aggregate, per indication that may be developed by the Company in alignment with Janssen. Following commercialization, the Company will also be eligible tiered double-digit royalties (low 10s to low 20s) on net sales of NBTXR3. Revenue is recognized under IFRS 15 – Revenue from contracts with customers (see Note 3.2 – Use of judgement, estimates and assumptions ). The Janssen Agreement, being a license to develop, manufacture, commercialize a product candidate, and ongoing development services, is within the scope of IFRS 15, as it is an output of the Company’s ordinary activities. Following the IFRS 15 analysis, two main distinct performance obligations under the Janssen Agreement have been identified: • License Grant: transfer of all data and information that is useful for the development, manufacture or commercialization of the licensed compound (NBTXR3) worldwide, excluding the Asia Licensing Territory. The license grant corresponds to a right-to-use license and the transfer of this license has been completed by December 31, 2023. Revenue is recognized point in time accordingly (see below); and • Ongoing Nanobiotix-conducted studies: the Company is committed to perform the head and neck (“H&N”) study and other ongoing Nanobiotix-conducted studies. These studies will benefit to Janssen (who holds the license) and therefore represent a service promised to the customer. In the course of the ongoing Nanobiotix-conducted studies, the Company provides development services in connection with the license, which is controlled by Janssen since its transfer, for a certain period of time. Based on the Company’s assessment of the nature of the services, the ongoing Nanobiotix-conducted studies were determined to be a separate performance obligation as the promise is separately identifiable as part of the contract and Janssen can benefit from the services with the license that has already been transferred. Janssen has access to the development progress over time and revenue is recognized accordingly (see below). Under the Janssen Agreement, Janssen is committed to make the following payments: • Upfront payment : Non-refundable upfront fee for $30 million, due within 10 days after the contract execution date as defined in the contract.; • Success-based milestones: Success-based development, regulatory and commercial milestones for up to $1.8 billion in the aggregate; • Royalties : Sales-based royalties. In addition to the above, the Janssen Agreement includes several additional success-based potential development and regulatory milestone payments: • up to $650 million, in the aggregate, for five potential new indications that may be developed by Janssen at its sole discretion; and • up to $220 million, in the aggregate, per indication that may be developed by the Company in alignment with Janssen. Thus, the consideration for Janssen Agreement consists of fixed and variable parts. As of December 31, 2023, the Company estimated the constrained transaction price for $50 million, which includes: • The $30 million upfront payment, allocated among each performance obligation based on their respective standalone selling prices. • Regulatory and development milestones payments whose payment depends on the achievement of certain technical or regulatory events, as provided in the contract. Variable considerations are included in the estimated transaction price if and when, it becomes highly probable that the resulting revenue recognized would not have to be reversed in a future period. Subsequently, as of December 31, 2023, the Company is entitled to receive the $20 million 1st milestone with no risk to refund; had Janssen terminated the contract on January 1, 2024, the Company would still have been entitled the $20 million conditional payment, included in the estimated transaction price due to the high probability of achieving the first milestone as of December 31, 2023. • Estimated variable considerations for commercial milestones are included in the estimated transaction price only when the cumulative threshold specified in the contract has been reached, starting upon the potential commercialization of the licensed products. Sales-based royalties’ revenue are included in the estimated transaction price at the later of (i) when the subsequent sale occurs or (ii) when the performance obligation has been satisfied. No variable consideration relating to commercial milestones or royalties is included in the estimated transaction price as of December 31, 2023. In order to allocate the estimated transaction price to the performance obligations, the Company determined that : • Commercial milestones and royalties should be allocated directly to the license grant, in accordance with IFRS 15.85. • Remaining payments (i.e. upfront payment and R&D milestones related to ongoing Nanobiotix-conducted studies) should be allocated to each performance obligation. The allocation of the remaining payments to each performance obligation has been performed by determining the stand-alone selling price of the ongoing Nanobiotix-conducted studies on cost plus margin basis and the allocation to the license was determined on the residual method. Revenue is recognized at a point in time or overtime depending on the allocation to each performance obligation. In 2023, revenue is recognized at a point in time for the existing know-how transferred to Janssen and overtime for the percentage completed (input method) of the ongoing Nanobiotix-conducted studies. The Janssen Agreement provides a distinct right-to-use license; therefore under IFRS 15, the fixed part of the consideration is included in the estimated transaction price as soon as the licensee can direct the use and benefit from the license. Revenue as of December 31, 2023, amounts to $32.3 million (equivalent to €29.6 million), including $30.0 million (equivalent to €27.5 million) related to the license grant. As of December 31, 2023, the unrecognized revenue amount is accounted for as contract liability, amounting to $17.7 million (equivalent to €16.0 million), out of the $50 million constrained transaction price, that will be recognized according to the completion of the R&D services in the future. As it was entitled to receive the first R&D milestones payment ($20.0 million) that has been invoiced in January 2024, the Company recorded a contract asset of $20.0 million. In accordance with IFRS 15.BC317, contract assets and contract liabilities are presented net which results in a net contract asset of $2.3 million (equivalent to €2.1 million) (see Note 8.3 Contract assets - current). Royalties on commercial sales and commercial milestones, if any, will be recognized as revenue when the underlying sales will be made, under the terms and timeframes set out in the agreement. No related amount was recognized in 2023. Separately, the Company received approximatively $30 million in equity investments from JJDC, comprising an initial tranche of $5 million issued without preferential subscription rights which was received as of September 13, 2023; and a second tranche of $25 million received as follows: $20.2 million received on November 7, 2023, and $4.8 million received on December 4, 2023 (see Note 10 – Share Capital ). Regarding the first tranche, the Company determined that a reallocation of consideration between revenue contract and equity contract was not necessary as there was no significant difference between the fair value of the shares and the subscription price at the date of contract. The fair value of the first tranche is not significant at inception. In addition, regarding the second tranche, as the subscription price was equal to the market price in the framework of the Global Offering (see Note 10 – Share Capital ), which is the fair value of the shares, no reallocation was made. Application of IFRS rules to the Asia Licensing Agreement In May 2021, the Company executed the Asia Licensing Agreement, pursuant to which LianBio received an exclusive right to develop and commercialize NBTXR3 in China and other east Asian countries. Under the Asia Licensing Agreement, the Company remains responsible for the manufacturing of the licensed products. The Company is not required to transfer manufacturing know-how, unless the Company, at any time following a change of control of the Company, fails to provide at least 80% of LianBio's requirements for licensed products in a given calendar year. Pursuant to the Asia Licensing Agreement, the parties will collaborate on the development of NBTRX3 and LianBio will participate in global Phase 3 registrational studies, for several indications, by enrolling patients in China. The Company received in June 2021 a non-refundable upfront payment of $20 million from LianBio. In addition, the Company may receive up to $205 million in potential additional payments upon the achievement of certain development and sales milestones, as well as tiered, low double-digit royalties based on net sales of NBTXR3 in the licensed territories thereunder. The Company is also entitled to receive payments for development and commercial vials ordered by LianBio and supplied by the Company. The license to commercialize a product candidate, ongoing transfer of unspecified know-how related to development and commercialization and the supply services (for commercial products) are in the scope of IFRS 15, as they are an output of the Company’s ordinary activities. For IFRS 15 purpose, it was determined that the license is not distinct from the commercial manufacturing services because the customer cannot benefit from the license without the manufacturing services and such services are not available from third party-contract manufacturers. Accordingly, the license and commercial manufacturing services are treated as one single performance obligation which is recognized as manufacturing services are performed. Milestone payments linked to regulatory marketing approvals will be included in the transaction price only when and if the contingency is resolved and will be recognized as revenue when manufacturing services are provided. Sales-based milestone payments will be recognized when the sales thresholds are achieved. Royalties will be recognized when the underlying sales are made by LianBio. The $20 million upfront payment received from LianBio in June 2021 has been recognized as a Contract Liability and will be recognized as revenue over the term of the arrangement, as manufacturing services (for commercial products) are provided. The mutualization of development efforts leading to the regulatory marketing approvals are treated as a collaboration arrangement outside of the scope of IFRS 15. If any R&D cost incurred is eligible for partial reimbursement by Lianbio, the corresponding recharge is recognized as Other Income. No such amount has been incurred to date. This includes the supply of products necessary to conduct the clinical trials, R&D cost incurred that is eligible for partial reimbursement by Lianbio, that will be recognized as Other Income. The related income will be recognized respectively when the products are delivered to Lianbio and when the eligible costs are incurred by LianBio. Milestone payments linked to regulatory marketing approvals will be included in the transaction price only when and if the contingency is resolved and will be recognized to revenue as manufacturing services are provided. Sales-based milestone payments will be recognized when the sales thresholds are achieved. Royalties will be recognized when the underlying sales are made by LianBio. On May 9, 2022, the Company signed the clinical supply agreement with LianBio as defined in the license, development, and commercialization agreement. This agreement provides for the supply by the Company to LianBio of vials of NBTXR3 and Cetuximab products for clinical trial development activities. For the year ended December 31, 2023, the Company billed the delivery of NBTXR3 and other clinical supplies to LianBio amounting to €334.3 thousand, recorded within Other Income as it relates to the non-IFRS 15 components of the agreement (the development collaboration). See Note 4.2 - LianBio. On June 30, 2023, the Company signed a Global Trial Clinical Agreement (“GTCA”) with LianBio in connection with the Asia Licensing Agreement signed on May 11, 2021. As contemplated by the Asia Licensing Agreement, LianBio shall participate in the global registrational Phase 3 trial “HNSCC 312” conducted by Nanobiotix, with regard to NANORAY-312 trials conducted within the licensed territories thereunder. According to the ‘GTCA’, LianBio is responsible for all internal and external costs incurred in connection with the study in the licensee territories as well as all external costs and expenses incurred by or on behalf of the Company for the global study. In this context, for the year ended December 31, 2023, the Company billed the charging related shared costs to LianBio for an amount of €1.6 million, recorded within Other Income as it relates to the non-IFRS 15 components of the agreement (the development collaboration). On December 22, 2023, the Company, LianBio and Janssen executed a novation agreement whereas all the rights and obligations of Asia Licensing Agreement, dated May 11, 2021, between the Company and LianBio, as well as other related agreements, were assigned from LianBio to Janssen. Whereas the Company analyzed that the rights and obligations of the original License Agreement were transferred without any alteration or modification, the Company concluded that as a result of the novation agreement, the original contract with LianBio was terminated while a new contract was entered onto with Janssen. As a result, the Company derecognized the original contract liability to LianBio, corresponding to the $20 million upfront payment received in 2021, and recognized a new contract liability to LianBio at its fair value, resulting in a loss of €1.6 million as of December 31, 2023 (See Note 4.1, Note 4.2, Note 13 - Trade and other payables, and Note 16.5 - Other operating income and expenses ). The Company determined that the new contract meets the definition of a separate contract, in accordance with IFRS 15.20 and on the other hand does not meet the definition of a contract modification as defined by IFRS 15.18 as the novation agreement resulted from a pre-existing contractual right of LianBio which did not require the approval of the Company. Consequently the contract modification model should not be applied. The Company determined as, in the LianBio contract, the license and manufacturing services are not distinct and represent a single performance obligation. Consequently, the whole amount of the contract liability should be replaced with the fair value of the contract liability of the new contract (see above) and no amount should be released to revenue. Grants Due to its innovative approach to nanomedicine, the Company has received various grants and other assistance from the government of France and French public authorities since its creation. The funds are intended to finance its operations or specific recruitments. Grants are recognized in income as the corresponding expenses are incurred and independently of cash flows received. Research tax credit The French tax authorities grant a research tax credit ( Crédit d’Impôt Recherche , or “CIR”), to companies in order to encourage them to conduct technical and scientific research. Companies demonstrating that they have incurred research expenditures that meet the required criteria (research expenses in France or, since January 1, 2005, other countries in the European Community or the European Economic Area that have signed a tax treaty with France containing an administrative assistance clause) receive a tax credit that can theoretically be compensated with the income tax due on the profits of the financial year during which the expenses have been incurred and the following three years. Any unused portion of the credit is then refunded by the French Treasury. If the Company can be qualified as small and medium-sized enterprises, in France the “PME”, it can request immediate refund of the remaining tax credit, without application of the three-year period). The Company has received research tax credits since its creation. These amounts are recognized as "Other income" in the fiscal year in which the corresponding charges or expenses were incurred. In case of capitalization of research and development expenses, the portion of research tax credit related to capitalized expenses is deducted from the amount of capitalized expenses on the statements of financial position and from the amortization charges for these expenses on the statements of operations. Detail of revenues and other income The following table summarizes the Company’s revenues and other income per category for the years ended December 31, 2023, 2022, and 2021. For the year ended December 31, (in thousands of euros) 2023 2022 2021 Services 29,750 — 5 Other sales 308 — 5 Total revenues 30,058 — 10 Research tax credit 3,939 4,091 2,490 Subsidies 229 135 126 Other 1,981 550 21 Total other income 6,150 4,776 2,637 Total revenues and other income 36,207 4,776 2,647 Total Revenues In 2023, some revenue was recognized according to the application of IFRS15 and transaction price allocation rules, further to the signing of the Janssen Agreement. Subsequently, both the $30 million upfront payment paid by Janssen to the Company in August 2023, and $20 million from the initial milestone which became due to the Company from Janssen as of December 31, 2023, have been considered in the estimated transaction price at closing date, in accordance with IFRS 15. For the year ended December 31, 2023, the €30.1 million Total Revenues mainly includes (i) ‘Services’ revenue linked to the assignment of the license to Janssen and the rendered R&D services in proportion of the completion of the ongoing studies, totaling €29.6 million; (ii) ‘Services’ revenue linked to technology transfer recharge for €0.1 million; (iii) and €0.3 million of ‘Other Sales’ related to product clinical supplies to Janssen. There was no revenue recognized for the year ended December 31, 2022. Revenue for the year ended December 31, 2021 was derived from charge backs related to external clinical research organization costs in connection with the development support provided by the Company to PharmaEngine as part of the license and collaboration agreement, that was terminated in March 2021. Research Tax Credit The research tax credit was stable between 2023 and 2022, and increased from €2.5 million in 2021 to €4.1 million in 2022 mainly due to an increase of research and development expenses, and to the inclusion of additional eligible expenses from contract research organizations for clinical trials, related to the 312 study. Subsidies Subsidies include the Bpifrance Deep Tech Grant received by Curadigm SAS, €229 thousand of which was recognized as other income in the year ended December 31, 2023,€135 thousand for the year ended December 31, 2022, and €126 thousand of which was recognized for the year ended December 31, 2021. Other The line item ‘Other’ mainly includes income for supply and services recharge, in the framework of the clinical supply agreement signed in May 2022 with LianBio and of the GTCA signed in June 2023 with LianBio, totaling €2.0 million for the year ended December 31, 2023 compared to €0.5 million for the year ended December 31, 2022. |
Operating expenses
Operating expenses | 12 Months Ended |
Dec. 31, 2023 | |
Analysis of income and expense [abstract] | |
Operating expenses | Operating expenses Accounting policies Leases included in the practical expedients under the IFRS 16 standard and used by the Company (low value asset and short-term leases) are recognized in operating expenses. Payments made for these leases are expensed, net of any incentives, on a straight-line basis over the contract term (see Note 22). Accounting policies for research and development expenses are described in Note 5 . 16.1 Research and development expenses For the year ended December 31, (in thousands of euros) 2023 2022 2021 Purchases, sub-contracting and other expenses (26,380) (20,415) (19,562) Payroll costs (including share-based payments) (10,721) (10,868) (9,605) Depreciation, amortization and provision expenses (1) (1,295) (1,353) (1,211) Total research and development expenses (38,396) (32,636) (30,378) (1) see note 16.4 Depreciation, amortization and provision expenses Purchases, sub-contracting and other expenses Purchases, sub-contracting and other expenses increased by €6.0 million, or 29.2% for the year ended December 31, 2023 as compared with the same period in 2022. This reflects the increase of clinical development activities, driven by our global Phase 3 clinical trial for elderly head and neck cancer patients ineligible for platinum-based (cisplatin) chemotherapy (NANORAY-312) and by the Phase 1 multi-cohort trial of RT-activated NBTXR3 followed by anti-PD-1 checkpoint inhibitors (Study 1100). Purchases, sub-contracting and other expenses increased by €0.9 million, or 4.4% for the year ended December 31, 2022 as compared with the same period in 2021. This reflects the increase of clinical development activities, driven by the global Phase 3 clinical trial for elderly head and neck cancer patients ineligible for platinum-based (cisplatin) chemotherapy (NANORAY-312). Payroll costs Payroll costs decreased by €0.1 million, or 1.4% for the year ended December 31, 2023 as compared with the same period in 2022. Payroll costs increased by 1.3 million, or 13% for the year ended December 31, 2022 as compared with the same period in 2021. This variation is mainly due to cost of living adjustments and higher bonus expenses. As of December 31, 2023, the Company’s workforce amounted to 76 research and development staff, including an increase of 2 positions created during the year ended December 31, 2023. As of December 31, 2022, the Company’s workforce amounted to 74 research and development staff, including 1 additional position created during the year ended December 31, 2022. As of December 31, 2021, the Company’s workforce amounted to 73 research and development staff, including 7 additional positions created during the year ended December 31, 2021. The impact of share-based payments (excluding employer’s contribution) on research and development expenses amounted to €0.4 million in 2023 as compared with €0.3 million in 2022 and €0.7 million in 2021. 16.2 Selling, General and Administrative (SG&A) expenses For the year ended December 31, (in thousands of euros) 2023 2022 2021 Purchases, fees and other expenses (9,889) (7,792) (9,638) Payroll costs (including share-based payments) (11,772) (9,688) (9,379) Depreciation, amortization and provision expenses (1) (387) (378) (417) Total SG&A expenses (22,049) (17,857) (19,434) (1) see note 16.4 Depreciation, amortization and provision expenses Purchases, fees and other expenses In 2023, purchases, fees and other expenses increased by €2.1 million, or 27% for the year ended December 31, 2023 as compared with the same period in 2022. This variation reflects the €1.4 million fees paid in 2023 to a financial adviser, further to an advisory services agreement between the parties, which has subsequently been terminated and the €0.5 million legal fees related to the signature of the agreement with Janssen and the €0.3 million related to JJDC debt waiver. In 2022, purchases, fees and other expenses decreased by €1.8 million, or 19.2% for the year ended December 31, 2022 as compared with the same period in 2021. This variation reflects the Company’s actions to reduce reliance on external support for core activities as well as rationalization of and cost savings achieved relative to the services procured. Payroll costs Payroll costs increased by €2.1 million or 21.5% for the year ended December 31, 2023 as compared with the same period in 2022, mainly driven by cost of living adjustments and higher bonus expenses. Payroll costs increased by €0.3 million or 3.3% in 2022, mainly driven by the recruitment of a General Counsel. As of December 31, 2023, the Company’s workforce amounted to 26 staff in SG&A functions in comparison with the Company’s workforce of 28 staff in SG&A functions during the year ended December 31, 2022. As of December 31, 2022, the Company’s workforce amounted to 28 staff in SG&A functions in comparison with the Company’s workforce of 27 staff in SG&A functions during the year ended December 31, 2021. As of December 31, 2021, the Company’s workforce amounted to 27 staff in SG&A functions in comparison with the Company’s workforce of 24 staff in SG&A functions during the year ended December 31, 2020. The impact of share-based payments (excluding employer’s contribution) on SG&A expenses amounted to €2.9 million in 2023, as compared with €2.8 million in 2022 and €2.5 million in 2021. 16.3 Payroll costs For the year ended December 31, (in thousands of euros) 2023 2022 2021 Wages and salaries (13,621) (12,345) (11,391) Payroll taxes (5,585) (4,963) (4,308) Share-based payments (3,222) (3,174) (3,201) Retirement benefit obligations (65) (75) (84) Total payroll costs (22,493) (20,556) (18,984) Average headcount 100 100 96 End-of-period headcount 102 102 100 As of December 31, 2023, the Company’s workforce totaled 102 employees, compared with 102 as of December 31, 2022 and 100 as of December 31, 2021. In 2023, wages, salaries and payroll costs, together, amounted to €19.2 million as compared with €17.3 million in 2022. This is mainly due to annual cost of living adjustments and higher bonus expenses. In 2022, wages, salaries and payroll costs, together, amounted to €17.3 million as compared with €15.7 million in 2021. This is mainly due to 2 additional positions created during the year ended December 31, 2022 as well as annual cost of living adjustments, and higher bonus expenses. In 2021, wages, salaries and payroll costs, together, amounted to €15.7 million. In accordance with IFRS 2 – Share-based Payment, the share-based payment amount recognized in the statements of operations reflects the expense associated with rights vesting during the fiscal year under the Company's share-based compensation plans. The share-based payment expenses amounted to €3.2 million for the years ended December 31, 2023, as compared with €3.2 million as of December 31, 2022 and December 31, 2021 (see Note 17). 16.4 Depreciation, amortization and provision expenses Depreciation, amortization and provision expenses by function are detailed as follows: For the year ended December 31, 2023 (in thousands of euros) R&D SG&A Total Amortization expense of intangible assets (1) — (1) Amortization expense of tangible assets (1,247) (270) (1,517) Utilization of provision for disputes — — — Provision for charges (47) (116) (163) Utilization of provision for charges — — — Total depreciation, amortization and provision expenses (except IAS 19) (1,295) (387) (1,682) Provision for retirement benefit obligations (IAS 19) (42) (24) (65) Total Provision for retirement benefit obligations (IAS 19) (42) (24) (65) Total depreciation, amortization and provision expenses (1,337) (411) (1,747) For the year ended December 31, 2022 (in thousands of euros) R&D SG&A Total Amortization expense of intangible assets (2) (1) (3) Amortization expense of tangible assets (1,164) (334) (1,497) Utilization of provision for disputes — — — Provision for charges (187) (43) (230) Reversal of provision for disputes — — — Total depreciation, amortization and provision expenses (except IAS 19) (1,353) (378) (1,730) Provision for retirement benefit obligations (IAS 19) (48) (26) (75) Total Provision for retirement benefit obligations (IAS 19) (48) (26) (75) Total depreciation, amortization and provision expenses (1,401) (404) (1,805) For the year ended December 31, 2021 (in thousands of euros) R&D SG&A Total Amortization expense of intangible assets (34) (10) (45) Amortization expense of tangible assets (1,109) (406) (1,515) Utilization of provision for disputes — — — Provision for charges (68) — (68) Reversal of provision for disputes — — — Total depreciation, amortization and provision expenses (except IAS 19) (1,211) (417) (1,628) Provision for retirement benefit obligations (IAS 19) (49) (35) (84) Total Provision for retirement benefit obligations (IAS 19) (49) (35) (84) Total depreciation, amortization and provision expenses (1,260) (452) (1,712) 16.5 Other operating income and expenses For the year ended December 31, (in thousands of euros) 2023 2022 2021 Other operating expenses (2,542) (985) (5,414) Total Other operating income and expenses (2,542) (985) (5,414) Pursuant to the assignment agreement, executed on December 22, 2023, whereby LianBio has assigned to Janssen LianBio’s exclusive rights to develop and commercialize potential first-in-class radioenhancer NBTXR3 in China, South Korea, Singapore, and Thailand (see Note 15 - Revenues and other income), the Company recorded a contract loss of €1.6 million further to the new contract fair value accounting. This assignment includes all previously agreed upon economic terms between the Company and LianBio, including the Company entitlement to receive up to an aggregate In 2023, the other operating expenses also relates for €0.7 million paid to a financial adviser pursuant to a termination and release of the service agreement signed in July 2023. See Note 22.6. Pursuant to the termination and release agreement signed with PharmaEngine, the Company has made several payments following receipt and validation of certain clinical study reports. No payment was made to PharmaEngine during the year ended December 31, 2023; $1.0 million payment was made in 2022 as compared to $6.5 million paid in 2021 (€5.4 million converted at the exchange rate on the payment date in 2021). See Note 4.3 - PharmaEngine . |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share-based payments | Share-based payments Accounting policy Since its inception, the Company has granted stock options ( option sur actions , ‘‘OSA’’), warrants ( bons de souscription d’actions , ‘‘BSA’’), founders’ warrants (bons de souscription de parts de créateur d’entreprise, ‘‘BSPCE’’) and free shares ( attributions gratuites d’actions , ‘‘AGA’’) to corporate officers, employees and members of the Supervisory Board and consultants. In certain cases, exercise of the options and warrants is subject to performance conditions. The Company has no legal or contractual obligation to pay the options in cash. These share-based compensation plans are settled in equity instruments. The Company has applied IFRS 2 – Share-based Payment to all equity instruments granted to employees since 2006. As required by IFRS 2 – Share-based Payment, the cost of compensation paid in the form of equity instruments is recognized as an expense, with a corresponding increase in shareholders’ equity for the vesting period during which the rights with respect to the equity instruments are earned. The fair value of the equity instruments granted to employees is measured using the Black-Scholes or Monte Carlo model, as described below. At each closing date, the number of options likely to become exercisable is re-examined. If applicable, changes to the estimated number of options expected to become exercisable are recognized in the consolidated statement of income with a corresponding adjustment in equity. Detail of share-based payments The number of warrants and options outstanding on December 31, 2023 and their main characteristics, are detailed below: Founders’ warrants Pre-2023 founders’ warrant plans BSPCE BSPCE BSPCE BSPCE BSPCE BSPCE BSPCE BSPCE Type of underlying asset New shares New shares New shares New shares New shares New shares New shares New shares Number of founder’s warrants granted 50,000 97,200 71,650 53,050 126,400 129,250 117,650 80,000 Date of shareholders' resolution approving the plan 06/28/2013 06/18/2014 06/18/2014 06/18/2014 06/25/2015 06/25/2015 06/23/2016 06/23/2016 Grant date 08/28/2013 09/16/2014 02/10/2015 06/10/2015 02/02/2016 02/02/2016 01/07/2017 01/07/2017 Contractual expiration date 08/28/2023 09/16/2024 02/10/2025 06/10/2025 02/02/2026 02/02/2026 01/07/2027 01/07/2027 Grant price — — — — — — — — Exercise price €5.92 €18.68 €18.57 €20.28 €14.46 €14.46 €15.93 €15.93 Number of founders’ warrants as of December 31, 2023 — 85,750 68,100 28,400 97,867 99,150 98,100 80,000 Number of founders’ warrants exercised — — — — 333 — — — Including founders’ warrants exercised during the period — — — — — — — — Number of founders’ warrants lapsed or cancelled 50,000 11,450 3,550 24,650 28,200 30,100 19,550 — Including founders’ warrants lapsed or cancelled during the period 50,000 400 350 1,950 2,700 909 1,050 — Warrants (BSA) Pre-2023 warrant plans BSA BSA BSA BSA BSA 2018-1 BSA 2018-2 BSA 2019-1 BSA 2020 BSA 2021 (a) Type of underlying assets New shares New shares New shares New shares New shares New shares New shares New shares New shares Number of warrants granted 10,000 14,000 26,000 64,000 28,000 5,820 18,000 18,000 48,103 Date of shareholders' resolution approving the plan 05/04/2012 06/18/2014 06/18/2014 06/18/2014 06/14/2017 05/23/2018 05/23/2018 04/11/2019 11/30/2020 Grant date 04/10/2013 09/16/2014 02/10/2015 06/25/2015 03/06/2018 07/27/2018 03/29/2019 03/17/2020 04/20/2021 Contractual expiration date 04/10/2023 09/16/2024 02/10/2025 06/25/2025 03/06/2023 07/27/2028 03/29/2029 03/17/2030 04/20/2031 Grant price €2.50 €4.87 €4.87 €5.00 €1.62 €2.36 €1.15 €0.29 €2.95 Exercise price €6.37 €17.67 €17.67 €19.54 €13.55 €16.10 €11.66 €6.59 €13.47 Number of warrants as of December 31, 2023 — 10,000 21,000 64,000 — 5,820 18,000 18,000 14,431 Number of warrants exercised — — — — — — — — — Including warrants exercised during the period — — — — — — — — — Number of warrants lapsed or cancelled 10,000 4,000 5,000 — 28,000 — — — 33,672 Including warrants lapsed or cancelled during the period 6,000 — — — 28,000 — — — — Pre-2023 stock option plans 2023 stock options plan OSA OSA OSA OSA OSA OSA OSA OSA 2021-04 OSA 2021-06 OSA 2022-06 Ordinary OSA 2022-06 Performance OSA 2023-01 Ordinary Type of underlying asset New shares New shares New shares New shares New shares New shares New shares New shares New shares New shares New shares New shares Number of options granted 6,400 4,000 3,500 62,000 37,500 500,000 407,972 571,200 120,000 410,500 170,400 338,860 Date of shareholders' resolution approving the plan 06/25/2015 06/23/2016 06/23/2016 06/14/2017 05/23/2018 04/11/2019 04/11/2019 11/30/2020 04/28/2021 04/28/2021 11/30/2020 06/27/2023 Grant date 02/02/2016 11/03/2016 01/07/2017 03/06/2018 03/29/2019 10/24/2019 03/11/2020 04/20/2021 06/21/2021 06/22/2022 06/22/2022 07/20/2023 Contractual expiration date 02/02/2026 11/03/2026 01/07/2027 03/06/2028 03/29/2029 10/24/2029 03/11/2030 04/20/2031 06/21/2031 06/22/2032 06/22/2032 07/20/2033 Grant price — — — — — — — — — — — — Exercise price €13.05 €14.26 €14.97 €12.87 €11.08 €6.41 €6.25 €13.74 €12.99 €4.16 €4.16 €5.00 Number of options as of December 31, 2023 400 4,000 500 52,000 25,750 500,000 377,775 396,200 120,000 394,500 146,190 318,860 Number of options exercised — — — — — — — — — — — — Number of options as of Including options exercised during the period — — — — — — — — — — — — Number of options lapsed or cancelled 6,000 — 3,000 10,000 11,750 — 30,197 175,000 — 16,000 24,210 20,000 Including options lapsed or cancelled during the period — — — — — — 3,398 25,000 — 3,500 10,310 20,000 Free shares Pre-2023 free shares plan 2023 free shares plan AGA AGA AGA 2023 - P1 AGA 2023 - P1 Type of underlying assets New shares New shares New shares New shares Number of free shares granted 362,515 300,039 427,110 439,210 Date of shareholders' resolution approving the plan 11/30/2020 04/28/2021 06/27/2023 06/27/2023 Grant date 04/20/2021 06/22/2022 06/27/2023 06/27/2023 Grant price — — — — Exercise price — — — — Number of free shares as of December 31, 2023 — 293,776 400,960 432,560 Number of free shares exercised 354,510 — — — Including free shares exercised during the period — — — — Number of free shares lapsed or cancelled 8,005 6,263 26,150 6,650 Including free shares lapsed or cancelled during the period 201 5,259 26,150 6,650 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2023 557,367 151,251 2,336,175 1,127,296 4,172,089 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2022 614,726 185,251 2,059,523 653,746 3,513,246 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2021 715,291 263,251 1,583,806 410,512 2,972,860 The measurement methods used to estimate the fair value of stock options, warrants and free shares are described below: • The share price on the grant date is equal to the exercise price, except for the BSA 2014 which exercise price was set at €17.67, taking into account both the average share price on the 20 days preceding the grant date and the expected development perspectives of the Company; • The risk-free rate was determined based on the average life of the instruments; and • Volatility was determined based on volatility observed on Nanobiotix shares on the grant date and for a period equal to the life of the warrant or option The performance conditions for all of the plans were assessed as follows: • Performance conditions unrelated to the market were analyzed to determine the likely exercise date of the warrants and options and expense was recorded accordingly based on the probability these conditions would be met; and • Market-related performance conditions were directly included in the calculation of the fair value of the instruments. The fair value of the warrants and options was measured using the Black-Scholes model. The probability of meeting the performance conditions for the 2016 BSPCE, BSA and OSA performance plans was reassessed as of December 31, 2023. The threshold of 500 patients enrolled in all our clinical studies was reached as of December 31, 2023. As a consequence, new instruments became exercisable. BSPCE Share price (in euros) Exercise price (in euros) Volatility Maturity (in years) Risk-free rate Yield Value of initial plan (in thousands of euros) Expense for the year ended 2023 (in thousands of euros) Expense for the year ended 2022 (in thousands of euros) Expense for the year ended 2021 (in thousands of euros) BSPCE 08-2013 6.30 5.92 256 % 7 0.90 % 0.00 % 152 — — — BSPCE 09-2014 18.68 18.68 58 % 5.5/6/6.5 0.64 % 0.00 % 965 — — — BSPCE 2015-1 18.57 18.57 58% - 62% - 61% 5.5/6/6.5 0.39 % 0.00 % 50 — — — BSPCE 2015-3 20.28 20.28 61% - 62% - 61% 5.5/6/6.5 0.56 % 0.00 % 483 — — — BSPCE 2016 Ordinary 14.46 14.46 59% - 62% - 60% 5.5/6/6.5 0.32 % 0.00 % 1,080 — — — BSPCE 2016 Performance 14.46 14.46 59 % 5 0.19 % 0.00 % 1,212 18 28 32 BSPCE 2017 Ordinary 15.93 15.93 58% - 61% - 59% 5.5/6/6.5 0.23 % 0.00 % 1,000 0 0 — BSPCE 2017 Performance 15.93 15.93 59 % 5 0.11 % 0.00 % 622 — — — BSPCE 2017 15.93 15.93 59 % 5 0.11 % 0.00 % 627 — — — BSPCE 2017 Project 15.93 15.93 59 % 5 0.11 % 0.00 % 94 — — — Total BSPCE n.a. n.a. n.a. n.a. n.a. n.a. n.a. 18 28 32 BSA Share price (in euros) Exercise price (in euros) Volatility Maturity (in years) Risk-free rate Yield Value of initial plan (in thousands of euros) Expense for the year ended 2023 (in thousands of euros) Expense for the year ended 2022 (in thousands of euros) Expense for the year ended 2021 (in thousands of euros) BSA 2013 6.30 6.37 156 % 6 0.90 % 0.00 % 1 — — — BSA 2014 18.68 17.67 57 % 5 0.41 % 0.00 % — — — — BSA 2015-1 17.67 17.67 58 % 5 0.26% - 0.27% 0.00 % 63 — — — BSA 2015-2 a 19.54 19.54 58%-58%-57%-58% 5/5.1/5.3/5.4 0.39 % 0.00 % 16 — — — BSA 2018-1 13.55 13.55 38 % 4.8 0.7% - 0.1% 0.00 % 2 — — — BSA 2018-2 16.10 16.10 38 % 4.8 0.7% - 0.1% 0.00 % 1 — — — BSA 2019-1 11.66 11.66 37 % 9.8/9.9 0.16% - 0.50% 0.00 % 24 — — — BSA 2020 6.59 6.59 38 % 10 (0.13)% - (0.07)% 0.00 % 19 — — — BSA 2021 (a) 13.47 13.47 39.10 % 10 0.27 % 0.00 % 44 — — 44 Total BSA n.a. n.a. n.a. n.a. n.a. n.a. n.a. — — 44 OSA Share price (in euros) Exercise price (in euros) Volatility Maturity (in years) Risk-free rate Yield Value of initial plan (in thousands of euros) Expense for the year ended 2023 (in thousands of euros) Expense for the year ended 2022 (in thousands of euros) Expense for the year ended 2021 (in thousands of euros) OSA 2016 Performance 13.05 13.05 59 % 5 0.19 % 0.0 % 69 — — — OSA 2016-2 14.26 14.26 58% - 62% - 59% 5.5 / 6 /6.5 0.04 % 0.0 % 27 — — — OSA 2017 Ordinary 15.93 14.97 58% - 61% - 59% 5.5 / 6 /6.5 0.23 % 0.0 % 31 — — — OSA 2018 12.87 12.87 35 % 5.5 / 6 /6.5 0.00 % 0.0 % 252 — — — OSA 2019-1 11.08 11.08 38.1% / 37.4% 6 /6.5 0.103% / 0.149% 0.0 % 140 — (1) 17 OSA 2019 LLY 6.41 6.41 37 % 10 0.40 % 0.0 % 252 — — — OSA 2020 6.25 6.25 38 % 10 0.31 % 0.0 % 939 13 101 329 OSA 2021-04 O 13.60 13.74 38.9% - 37.8% - 38.3% 5.5 / 6 /6.5 0.38%/ 0.33%/ 0.28% 0.0 % 684 34 (28) 188 OSA 2021-04 P 13.60 13.74 39.10 % 10 0.03 % 0.0 % 1,816 216 163 131 OSA 2021-06 O 12.20 12.99 39.2% / 37.9% / 38.1% 5.5 6 6.5 0.35% 0.30% 0.26% 0.0 % 246 47 107 79 OSA 2021-06 P 12.20 12.99 39.10 % 10 0.13 % 0.0 % 212 24 24 16 OSA 2022-06 O 3.68 4.16 42.06% 41.21% 40.65% 5.5 / 6/6.5 1.83% / 1.87% / 1.90% 0.0 % 580 267 178 — OSA 2022-06 P 3.68 4.16 40.08 % 10 2.28 % 0.0 % 80 20 4 — OSA 2023 - 01 O 6.75 5.00 45.07% - 44.11% - 43.41% 5.55 / 6 / 6.5 2.85% / 2.83% / 2.82% 0.0 % 1,255 321 — — Total OSA n.a. n.a. n.a. n.a. n.a. n.a. n.a. 941 549 760 AGA Share price (in euros) Exercise price (in euros) Volatility Maturity (in years) Risk-free rate Yield Value of initial plan (in thousands of euros) Expense for the year ended 2023 (in thousands of euros) Expense for the year ended 2022 (in thousands of euros) Expense for the year ended 2021 (in thousands of euros) AGA 2018-1 12.87 0.00 n.a. n.a. 0 0.00 % 4,951 — — 16 AGA 2019-1 10.90 0.00 n.a. n.a. 0.19% / 0.141% 0.00 % 4,776 — — 422 AGA 2020 5.90 0.00 n.a. n.a. '-0.74%/ -0.69% 0.00 % 287 — 28 144 AGA 2021 13.60 0.00 n.a. n.a. 0.63% 0.59% 0.00 % 4,869 694 2,283 1,784 AGA 2022 3.68 0.00 n.a. n.a. 0.95% 1.46% 0.00 % 1,092 530 286 — AGA 2023 - P1 4.87 0 n.a. n.a. 3% 3.20% 0.00 % 2,071 497 — — AGA 2023 - P2 4.87 0.00 n.a. n.a. 3% 3.20% 0.00 % 2,130 543 — — Total AGA n.a. n.a. n.a. n.a. n.a. n.a. n.a. 2,264 2,597 2,366 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2023 18 — 941 2,264 3,222 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2022 28 — 549 2,597 3,174 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2021 32 44 760 2,366 3,202 |
Net financial income (loss)
Net financial income (loss) | 12 Months Ended |
Dec. 31, 2023 | |
Income, expense, gains or losses of financial instruments [abstract] | |
Net financial income (loss) | Net financial income (loss) For the years ended December 31, (in thousands of euros) 2023 2022 2021 Income from cash and cash equivalents 1,217 256 — Foreign exchange gains 785 3,277 6,347 Other financial income — — 13 Total financial income 2,002 3,533 6,360 Interest cost (7,779) (5,599) (383) EIB debt valuation impact 285 (6,855) — Lease debt interests (203) (238) (288) Losses on fair value variation (4,230) — — Foreign exchange losses (2,877) (1,171) (109) Total financial expenses (14,803) (13,863) (780) Net financial income (loss) (12,801) (10,329) 5,580 Interest cost For the year ended December 31, 2023, interest cost amounts to €7.8 million, mainly due to interest costs on the EIB loan (see Note 12.1 Conditional advances, bank loan and loan granted by public authorities) which consists of fixed and variable rate interests of €1.6 million and €5.9 million respectively. For the year ended December 31, 2022, interest cost amounts to €5.6 million, mainly due to interest costs on the EIB loan (see Note 12.1 Conditional advances, bank loan and loan granted by public authorities) which consists of fixed and variable rate interests of €1.6 million and €3.7 million respectively. For the year ended December 31, 2021, interest cost was a net amount of €383 thousands, mainly due to the EIB loan interest and discounting impact (see Note 12.1 Conditional advance, bank loan and loans from government and public authorities) which was a net income of €4.2 million in 2021 as a result of the EIB royalties sales reforecast catch up effect and the accretion of the debt cost, offset by €1.8 million impact of EIB fixed interest cost. IFRS 9 debt valuation impact In the course of the year 2023, following the execution of the license agreement with Janssen (see Note 4.1 - Janssen Agreement), the Company reassessed the present value of estimated discounted future cash flows using the initial discount rate of 21.3%. Consequently, the Company recorded a catch-up adjustment to the debt through profit and loss for an amount of €0.3 million, For the year ended December 31, 2022, the financial loss of €6.9 million relates to the difference between the carrying amount of the financial liability extinguished (€27.5 million) and the fair value of the new financial liability (€34.4 million) in connection with execution of the Amendment Agreement with EIB. (See Note 12) Losses on fair value variation In connection with the equity investments from JJDC (see Note 15 – Revenues and other income and Note 10 – Share Capital ), the Company recorded a fair value loss of €4.2 million. Since the Initial Tranche was to be settled at a future date, required no initial investment from JJDC and had a value varying in response to the change in the Company’s share price and created an exposure to foreign currency risk as the exercise price was set in U.S. dollars, this initial tranche resulted in the recognition of a derivative measured at fair value until its settlement. The financial expense represents the loss from the change in fair value of the derivative arising from the first tranche of the equity investment and is due to the significant change in share price between the signing date of the agreement and the settlement date of the transaction. As of December 31, 2023 as the transaction has been settled, no derivative liability is recorded. Foreign exchange gains and losses In 2023, the Company incurred net foreign exchange losses of €2.1 million, compared to net foreign exchange gains of €2.1 million as of December 31, 2022. The exchange losses are related to HSBC bank accounts denominated in U.S. dollars and unfavorable trends on the $/€ foreign exchange rate. Some increases in foreign exchange losses have been due to short-term USD deposits and on USD equity raise operations recorded in 2023. In 2022, the Company had net foreign exchange gains of €2.1 million compared to €6.1 million as of December 31, 2021. Exchange gains relate to an HSBC bank account denominated in U.S. dollars. |
Income tax
Income tax | 12 Months Ended |
Dec. 31, 2023 | |
Income taxes paid (refund) [abstract] | |
Income tax | Income tax Accounting policy The Company and its subsidiaries are subject to income tax in their respective jurisdictions. Deferred taxes are recognized on a full provision basis using the liability method for all temporary differences between the tax basis and carrying value of assets and liabilities in the financial statements. The main source of deferred taxes relate to unused tax loss carryforwards. Deferred taxes are measured at the tax rates that are expected to apply to the period when the asset is expected to be realized or the liability is expected to be settled, based on tax rates and tax laws enacted or substantively enacted by the end of the reporting period. Deferred tax assets, which mainly arise as a result of tax loss carryforwards, are only recognized to the extent that it is probable that sufficient taxable income will be available in the future against which to offset the tax loss carryforwards or the temporary differences. Management uses its best judgment to determine such probability. Given the Company’s current stage of development and its short-term earnings outlook, the Company is unable to make sufficiently reliable forecasts of future earnings and accordingly, deferred tax assets have not been recognized and offset only to the extent of deferred tax liabilities in the same taxable entities. Detail of income tax As of December 31, 2023, in accordance with the applicable legislation, the Company has €367 million of tax losses in France with an indefinite carryforward period, in comparison with €331 million and €284 million of tax losses with an indefinite carryforward period in France as of December 31, 2022 and 2021, respectively. The cumulative tax loss carryforwards for the U.S. entities totaled $0.2 million as of December 31, 2023, as compared to $3.1 million as of December 31, 2022 and $3.7 million as of December 31, 2021. The tax loss carryforwards that were generated before January 1, 2018 have an indefinite carryforward and may be applied to 100% of future taxable income; those generated after that date have an indefinite carryforward as well but may be applied to 80% of future taxable income. The tax loss carryforwards in the U.S. comply with the federal and each state’s Net Operating Loss (“NOL”) rules updated by the Tax Cuts and Jobs Act (“TCJA”) of 2017. As per the Tax Cuts and Jobs Act, from January 1st, 2022, taxpayers are required to capitalize and amortize R&D expenditures that were paid or incurred in connection with their trade or business and amortize them over 5 years for U.S.-based R&D activities. Subsequently, Nano Corp applied the capitalization of R&D costs for U.S. tax purposes for fiscal years 2022 and 2023 and generated higher taxable income that was partly offset by available NOLs; the use of available NOLs explains the decrease of the cumulative tax loss carryforwards at the end of 2023 for the US entities. The following table reconciles the Company’s theoretical tax expense to its effective tax expense: For the year ended December 31, (in thousands of euros) 2023 2022 2021 Net loss (39,700) (57,041) (47,003) Effective tax expense 120 10 5 Recurring loss before tax (39,580) (57,030) (46,999) Theoretical tax rate (statutory rate in France) 25.00 % 25.00 % 26.50 % Theoretical tax (benefit) expense (9,895) (14,258) (12,455) Share-based payment 805 794 848 Other permanent differences (660) 45 117 Other non-taxable items (CIR) (985) (1,023) (660) Unrecognized deferred tax on deductible differences and tax losses 10,854 14,452 12,154 Effective tax expense 120 10 5 Effective tax rate (0.3) % 0.00 % 0.00 % The cumulative net unrecognized deferred tax assets amounted to €95.0 million, in 2023, including €91.8 million linked to accumulated net operating loss carryforwards at the end of 2023, in comparison with €88.3 million in 2022, including €86.2 million related to net operating loss carryforwards at the end of 2021 and €74.7 million in 2021, including €74.2 million of 2021 net operating loss carryforwards. |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [abstract] | |
Segment reporting | Segment reporting In accordance with IFRS 8 – Operating Segments |
Loss per share
Loss per share | 12 Months Ended |
Dec. 31, 2023 | |
Earnings per share [abstract] | |
Loss per share | Loss per share Accounting policy Loss per share is calculated by dividing the net loss due to shareholders of the Company by the weighted average number of ordinary shares outstanding during the period. The diluted loss per share is calculated by dividing the results by the weighted average number of common shares in circulation, increased by all dilutive potential common shares. The dilutive potential common shares include, in particular, the share subscription warrants, stock options, free shares, founder subscription warrants and equity line warrants as detailed in Note 10 and 17. Dilution is defined as a reduction of earnings per share or an increase of loss per share. When the exercise of outstanding share options and warrants decreases loss per share, they are considered to be anti-dilutive and excluded from the calculation of loss per share. For the year ended December 31, 2023 2022 2021 Net loss for the period (in thousands of euros) (39,700) (57,041) (47,063) Weighted average number of shares 36,928,161 34,851,868 34,733,418 Basic loss per share (in euros) (1.08) (1.64) (1.35) Diluted loss per share (in euros) (1.08) (1.64) (1.35) Instruments providing deferred access to capital are considered to be anti-dilutive because they result in a decrease in the loss per share. Therefore, diluted loss per share is identical to basic loss per share as all equity instruments issued but not granted, representing as of December 31, 2023, 9,372,089 potential additional ordinary shares, have been considered antidilutive (including 5,200,000 equity line related warrants, please refer to Note 10 for more details). |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Commitments [Abstract] | |
Commitments | Commitments 22.1 Obligations under the loan agreement with the EIB In addition to the obligation correlated to the reimbursement of the principal and the payment of interest, in the event the EIB loan is repaid early, or in the event of a change of control after repayment of the loan, the amount of royalties due will be equal to the higher of (a) the net present value of all the future royalties which is expected to fall due as determined by an independent expert, (b) the amount as determined by the EIB, required in order for the Bank to realize an internal rate of return on the loan of 20% and (c) an amount equal to €35.0 million. As part of the Amendment Agreement signed in October 2022, the Company was initially required to maintain a minimum cash and cash equivalents balance equal to the outstanding principal owed to EIB . The minimum cash and cash equivalents covenant waiver was signed in October 2023 following the prepayment of the PIK (see Note 4.4 - Financing Agreement with the European Investment Bank (“EIB”) ). As of December 31, 2023 no covenant is in breach. In certain circumstances, including any material adverse change, a change of control of the Company or if Dr. Laurent Levy, Chairman of the Executive Board, ceases to hold office, the Company may be required to pay a cancellation fee. If Dr. Laurent Levy ceases to hold a certain number of shares or ceases to be an officer, the EIB may require early repayment of the loan. 22.2 Obligations under the terms of the rental agreements part of the IFRS 16 exemptions The obligations of the Company related to the leases falling under the practical expedients (leases related to low-value assets and short-term leases with automatic annual renewal) are as follow: • One short term lease for an office by Nanobiotix Corp., of which the annual rent is $130 thousand; and • Leases related to low-value assets for Nanobiotix S.A.’s printers, of which the annual rent is approximately €10 thousand. 22.3 Obligations related to the MD Anderson agreement On December 21, 2018, the Company entered into a strategic collaboration agreement with MD Anderson Cancer Center, world prominent center of research, education, prevention and care for cancer patients, which was amended and restated in January 2020 and subsequently amended in June 2021. Pursuant to the MD Anderson Collaboration Agreement, the Company and MD Anderson established a large-scale, comprehensive NBTXR3 clinical collaboration to improve the efficacy of radiotherapy for certain types of cancer. The collaboration initially is expected to support multiple clinical trials conducted by MD Anderson, as sponsor, with NBTXR3 for use in treating several cancer types (including head and neck, pancreatic, and lung cancers). We expect to enroll approximately 312 patients in total across these clinical trials. As part of the funding for this collaboration, Nanobiotix is committed to pay approximately $11 million for those clinical trials during the collaboration, and made an initial $1.0 million payment at the commencement of the collaboration and a second $1.0 million payment on February 3, 2020. Additional payments were made every six months following patient enrollment in the trials, with the balance due upon enrollment of the final patient for all studies. Nanobiotix may also be required to pay an additional one-time milestone payment upon (i) grant of the first regulatory approval by the Food and Drug Administration in the United States and (ii) the date on which a specified number of patients have been enrolled in the clinical trials. This milestone payment will depend on the year in which a trigger event occurs, with a minimum amount of $2.2 million due if occurring in 2020 up to $16.4 million if occurred in 2030. As of December 31, 2023 and 2022, the Company recognized prepaid expenses for €1.2 million and €1.5 million respectively. Expenses are recorded during the course of the collaboration in the statement of consolidated operations, based on the patients enrolled during the relevant period. 22.4 Obligations related to the termination of the PharmaEngine agreement In March 2021, the Company and PharmaEngine mutually agreed to terminate the license and collaboration agreement entered into in August 2012. The Company paid $6.5 million and $1 million to PharmaEngine in accordance with the termination agreement during the years ended December 31, 2021 and December 31, 2022, respectively. No payment was made to PharmaEngine during the year ended December 31, 2023 pursuant to the termination and release agreement. PharmaEngine remains eligible to receive an additional payment of $5 million upon the second regulatory approval of NBTXR3 in any jurisdiction of the world for any indication. The Company has also agreed to pay royalties to PharmaEngine at low single-digit royalty rates with respect to sales of NBTXR3 in the Asia-Pacific region for a 10-year period beginning at the date of the first sales in the region. As of December 31, 2023, such triggering events have not occurred. 22.5 Obligations related to the Equity Line Kepler Cheuvreux The Chairman of the Executive Board, acting under the authority of the Executive Board of Directors held on May 18, 2022, and in accordance with the 21st resolution from the Annual Shareholders’ Meeting of April 28, 2021, has decided to set up an equity line financing agreement (PACEO). In accordance with the terms of said agreement executed on May 18, 2022, Kepler Cheuvreux, acting as the underwriter of this facility, committed to underwrite up to 5,200,000 shares, over a maximum timeframe of 24 months ending May 18, 2024. On December 22, 2023, the agreement was extended to September 2024, as a result of the period related to the equity raised launched in October 2023. The shares, if and when issued, will be issued on the basis of the lowest volume-weighted average daily trading price for the two trading days preceding each issue, less a maximum discount of 5.0%. (See Note 10.4 Equity Line with Kepler Cheuvreux). 22.6 Obligations related to the termination agreement with a financial provider The Company and a financial service provider had entered into an advisory services agreement on November, 28, 2018 to act as the Company’s exclusive adviser relating to a certain scope of transactions, including a major licensing transaction. As part of the release and termination agreement executed by and between the Company and this financial service provider as of July 19, 2023, and in addition to the amounts already paid in 2023 (see details in the ‘Significant events of the period’ in Note 1 - Company Information ), the Company is committed to pay to its financial service provider an additional transaction lump sum of $750 thousand, subject to the achievement of further milestones and consideration received by the Company as per the license agreement signed with Janssen. 22.7 Obligations related to the master services agreement with Janssen dedicated to the clinical manufacturing of NBTXR3 On December 22, 2023, the Company entered into a master services agreement (“MSA”) with Janssen which includes the clinical manufacturing and the supply of products to be provided by the Company, as well as technical expertise and development services in the field of the territory, as defined in the global licensing, co-development, and commercialization agreement signed in July 2023. Under this agreement, as of December 31, 2023, the Company already received purchase orders from Janssen for an amount of €0.8 million, for the delivery of raw materials and NBTXR3 clinical and technical batches planned during the first quarter of 2024. |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2023 | |
Related party transactions [abstract] | |
Related parties | Related parties Key management personnel compensation The compensation presented below, granted to the members of the Executive Board and Supervisory Board was recognized in expenses over the period shown: For the year ended December 31, (in thousands of euros) 2023 2022 2021 Salaries, wages and benefits 1,735 1,464 1,245 Share-based payments 2,386 2,501 2,018 Supervisory Board’s fees 225 225 375 Total compensation to related parties 4,346 4,190 3,638 The methods used to measure share-based payments are presented in Note 17. |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent events | Subsequent events Accounting policy The statements of consolidated financial position and statements of consolidated operations are adjusted for post-closing events prior to the filling date for issuance as long as they have a significant impact of the amounts presented at the closing date of the statement of financial position. If they do not, they are disclosed. Adjustments and disclosures are made up to the date on which the consolidated financial statements are approved and authorized for issuance by the Supervisory Board. Detail of subsequent events To the Company’s knowledge, there has been no significant event in the Company’s financial or commercial position since December 31, 2023. |
Consolidation principles and _2
Consolidation principles and methods (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Significant Accounting Policies [Abstract] | |
General principles, Statement of Compliance and Basis of Presentation | General principles The statement of consolidated financial position as of December 31, 2023, 2022 and 2021 and the statements of consolidated operations, the statements of consolidated comprehensive loss, the consolidated changes in shareholders’ equity and statements of consolidated cash flows for the years ended December 31, 2023, 2022 and 2021 were prepared under management’s supervision and were approved by the Executive Board of the Company (the “Executive Board”) and reviewed by the Supervisory Board of the Company (the “Supervisory Board”) on April 24, 2024. All amounts presented in the consolidated financial statements are presented in thousands of euros, unless stated otherwise. Some figures have been rounded. Accordingly, the totals in some tables may not be the exact sums of component items. The preparation of the consolidated financial statements in accordance with International Financial Reporting Standards (‘‘IFRS’’) requires the use of estimates and assumptions that affect the amounts and information disclosed in the financial statements (see Note 3.2 - Use of judgement, estimates and assumptions for additional information). The consolidated financial statements have been prepared using the historical cost measurement basis, with the exception of some financial assets and liabilities, which are measured at fair value. Statement of Compliance and Basis of Presentation The consolidated financial statements have been prepared in accordance with IFRS, International Accounting Standards (“IAS”) as issued by the International Accounting Standards Board (“IASB”) as well as interpretations issued by the IFRS Interpretations Committee (“IFRS-IC”) and the Standard Interpretations Committee (the “SIC”), which application is mandatory as of December 31, 2023. The consolidated financial statements are also compliant with IFRS as adopted by the European Union. Those are available on the European Commission website: https://eur-lex.europa.eu/eli/reg/2002/1606/oj The accounting principles used to prepare the consolidated financial statements for the fiscal year ended December 31, 2023 are identical to those used for the previous year except for the standards listed below that required adoption in 2023. Application of New or Amended Standards and Interpretations The Company adopted the following standards, amendments and interpretations, whose application was mandatory for periods beginning on or after January 1, 2023: • Amendment to IAS 1 and Practice Statement 2 - Disclosure of Accounting Policies. • Amendment to IAS 8 - Definition of Accounting Estimates • Amendment to IAS 12, Income Taxes - Deferred tax related to Assets and Liabilities arising from a Single Transaction. • Amendment to IAS 12, International tax reform - Pillar Two Model Rules The application of these standards had no significant impact on the consolidated financial statements of the Company. Assessment of the impacts of the Application of the standards, amendments and interpretations which will come into force subsequently The application of the following new standards, amendments and interpretations was not yet mandatory for the year ended December 31, 2023 : • Amendments to IAS 1 – Reporting period and classification of a liability (issued in November 2022 and Effective for the accounting periods as of January 1, 2024) • Amendments to IAS 7 – Transparency of supplier finance arrangements and their effects on the liabilities (issued on May 2023 and Effective for the accounting periods as of January 1, 2024) • Amendments to IFRS 16 – Sale and leaseback transactions (issued in September 2022 and Effective for the accounting periods as of January 1, 2024) • Amendments to IAS 21 – Transaction and operation in a foreign currency (issued in August 2023 and Effective for the accounting periods as of January 1, 2025) No significant impact is expected on the consolidated financial statements following the application of the above amendments. The Company elected to early adopt no new standards, amendments or interpretations which application was not yet mandatory for the year ended December 31, 2023. Going concern The Company has prepared its consolidated financial statements assuming that it will continue as a going concern. Although the Company recognized significant cash inflows in 2023 directly related to (a) net proceeds from the equity offering and (b) upfront payment from the global licensing, co-development, and commercialization agreement with Janssen, the Company’s ability to successfully transition to profitability will be dependent upon achieving a level of revenues adequate to support its cost structure and upon achieving development, regulatory and sales milestones in connection with our new global licensing agreement with Janssen. Therefore, the Company cannot assure that it will ever be profitable or generate positive cash flow from operating activities. Additionally, the Company may encounter unforeseen difficulties, complications, development delays and other unknown factors that require additional expenses. The Company experienced net losses of €39.7 million in 2023 and has accumulated losses of €316.5 million since inception (including 2023 net loss). For the year ended December 31, 2023 the Company generated positive cash flows of €33.9 million and has a total of €75.3 million cash and cash equivalents. The EIB has agreed to the definitive removal of the minimum cash and cash equivalent covenant, effective October 13, 2023 (See Notes 1, 12 and 22.1 for further information) and we expect to receive a $20.0 million milestone payment from Janssen in May 2024, based on the achievement of the first development milestone at the end of 2023 and the issuance of the invoice to Janssen in January 2024 (See Note 15 below for further information). Based upon these factors and the Company’s cash and cash equivalent balance at December 31, 2023, the Company estimates that it will have sufficient liquidity to meet its obligations as thy become due in the normal course of business for at least the next 12 months. As such, Management has concluded there is no substantial doubt about the Company's ability to continue as a going concern. |
Basis of consolidation | Accounting policy In accordance with IFRS 10 – Consolidated Financial Statements , the Group controls an entity when it is exposed or has rights to variable returns due to its links with the entity and has the ability to influence the returns. Accordingly, each of the Company’s subsidiaries has been fully consolidated from the date on which the Company obtained control over it. A subsidiary would be deconsolidated as of the date on which the Company no longer exercises control. All intra-Company balances, transactions, unrealized gains and losses resulting from intra-Company transactions and all intra-Company dividends are eliminated in full. The accounting methods of the Company’s subsidiaries are aligned with those of the Company. The consolidated financial statements are presented in euros, which is the reporting currency and the functional currency of the parent company, Nanobiotix S.A. The financial statements of consolidated foreign subsidiaries whose functional currency is not the euro are translated into euros for statement of financial position items at the closing exchange rate at the date of the statement of financial position and for the statement of operations, statement of comprehensive loss and statement of cash flow items at the average rate for the period presented, except where this method cannot be applied due to significant exchange rate fluctuations during the applicable period. The dollar to euro exchange rate used in the consolidated financial statements to convert the financial statements of the U.S. subsidiary was $1.1050 as of December 31, 2023 and an average of $1.0816 for the year ended December 31, 2023 (source: Banque de France) compared with $1.0666 and $1.0539 for 2022 and $1.1326 and $1.1835 for 2021, respectively. The resulting currency translation adjustments are recorded in other comprehensive income (loss) as a cumulative currency translation adjustment. Consolidated entities As of December 31, 2023, the Company is comprised of one parent entity, “Nanobiotix S.A.,” and five wholly owned subsidiaries: • Nanobiotix Corp., incorporated in the State of Delaware in the United States in September 2014; • Nanobiotix Germany GmbH, incorporated in Germany in October 2017; • Nanobiotix Spain S.L.U., incorporated in Spain in December 2017; • Curadigm S.A.S., incorporated on July 3, 2019 and located in France; and • Curadigm Corp., a wholly-owned subsidiary of Curadigm S.A.S., incorporated in the State of Delaware on January 7, 2020 and headquartered in Cambridge, Massachusetts. |
Use of judgement, estimates and assumptions | 3.2 Use of judgement, estimates and assumptions The preparation of consolidated financial statements in accordance with IFRS requires the use of estimates and assumptions that affect the amounts and information disclosed in the financial statements. The estimates and judgments used by management are based on historical information and on other factors, including expectations about future events considered to be reasonable given the circumstances. These estimates may be revised where the circumstances on which they are based change. Consequently, actual results may vary significantly from these estimates under different assumptions or conditions. A sensitivity analysis may be presented if the results differ materially based on the application of different assumptions or conditions. The main items affected by the use of estimates are going concern, share-based payments, deferred tax assets, clinical trials accruals and the measurement of financial instruments (fair value and amortized costs). Measurement of share-based payments The Company measures the fair value of stock options (OSA), founders’ warrants (BSPCE), warrants (BSA) and free shares (AGA) granted to employees, members of the Supervisory Board and consultants based on actuarial models. These actuarial models require that the Company use certain calculation assumptions with respect to characteristics of the grants (e.g., option vesting terms) and market data (e.g., to determine expected share volatility) (see Note 17 - Share-based payments ). Deferred tax assets Deferred taxes are recognized for temporary differences arising from the difference between the tax basis and the accounting basis of the Company’s assets and liabilities that appear in its financial statements. The primary source of deferred tax assets are related to the tax losses that can be carried forward or backward, depending on the jurisdiction. Enacted tax rates are used to measure deferred taxes. The deferred tax assets are recorded in the accounts only to the extent that it is probable that the future profits will be sufficient to absorb the losses that can be carried forward or backward. Considering its stage of development, which does not allow sufficiently reliable income projections to be made, the Company has not recognized deferred tax assets in relation to tax loss carryforwards in the statements of consolidated financial position. Clinical trial accruals Clinical trial expenses, although not yet billed in full, are estimated for each study and a provision accrual is recognized accordingly. See Note 13.1 - Trade and other payables for information regarding the clinical trial accruals as of December 31, 2023 and 2022. Revenue recognition In order to determine the amount and timing of revenue under the contract with customers, the Company is required to use significant judgments, mainly with respect to identifying performance obligations of the Company, determining the stand alone selling price of the performance obligations, the transaction price allocation and the timing of satisfaction of support services provided to customers Determining the distinctiveness of performance obligations — A promised good or service will need to be recognized separately in revenue if it is distinct as defined in IFRS 15. In determining whether the performance obligation is separate, the Company analyses if (i) the good or service is distinct in absolute terms, i.e. it can be useful to the customer, either on its own or in combination with resources that the customer can obtain separately; and if (ii) the good or service is distinct in the context of the contract, i.e. it can be identified separately from the other goods and services in the contract because there is not a high degree of interdependence or integration between this element and the other goods or services promised in the contract. If either of these two conditions is not met, the good or service is not distinct, and the Company must group it with other promised goods or services until it becomes a distinct group of goods or services. Allocation of transaction price to performance obligations — A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. To determine the proper revenue recognition method, the Company evaluates whether the contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment; some of the Company’s contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. Variable consideration — Due to the nature of the work required to be performed on many of the Company’s performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. It is common for the collaboration and license agreements to contain variable consideration that can increase the transaction price. Variability in the transaction price arises primarily due to milestone payments obtained following the achievement of specific milestones (e.g., scientific results or regulatory or commercial approvals). The Company includes the related amounts in the estimated transaction price as soon as their receipt is highly probable. The effect of the increase of the transaction price due to milestones payments is recognized as an adjustment to revenue on a cumulative catch‑up basis. Revenue recognized over time and input method — Some of the Company’s performance obligations are satisfied over time as work progresses, thus revenue is recognized over time, using an input measure of progress as it best depicts the transfer of control to the customers. See Note 15 for additional detail regarding the Company’s accounting policies and specific judgments taken with regards to revenue recognition, and for its additional sources of revenue and other income. Measurement of financial assets and liabilities At the renegotiation date in October 2022, the fair value measurement of the EIB loan required the Company to determine: – the discount rate of the new liability executed in October 2022. The discount rate reflects the company’s credit risk at the Amendment Agreement date as well as a premium to reflect uncertainties associated with the timing and the amount of the royalties’ payment. The Company involved external financial instruments valuation specialists to help determine the average discount rate; – the amount of additional interest (“royalties”, as defined by the royalty agreement with EIB) that will be due according to the loan agreement during a royalty calculation period commencing upon commercialization. The royalties due during this period will be determined and calculated based on the number of tranches that have been withdrawn and will be indexed to annual sales turnover relating to NBTXR3 through specific Company’s license agreement. For the purpose of measuring the fair value of the EIB loan, the Company forecast expected sales relating to NBTXR3 during the royalty period, taking into consideration operational assumptions such as market release dates of products and growth and penetration rates in each market. (see Note 4.4 - Financing Agreement with the European Investment Bank (“EIB”) and Note 12 - Financial Liabilities for details about this loan and the accounting treatment applied). Subsequent to the estimate of the fair value of the EIB loan performed at the renegotiation date, the debt has been measured at amortized cost based on a revised best estimate of future cash flows related to the debt at each closing date. Accordingly, the Company determines the amount of additional interest as described above. Any subsequent adjustment of flows indexed to turnover has been discounted at the original effective interest rate and the adjustment has been recognized in profit or loss under the “catch-up” method as of December 31, 2023. |
Intangible assets | Accounting policies In accordance with IAS 38 – Intangible Assets, intangible assets are carried at their acquisition cost. Research and Development costs Research costs are recorded in expenses in the period during which they are incurred. Under IAS 38 – Intangible Assets , development costs may only be capitalized as intangible assets if the following criteria are met: • it is technically feasible to complete the development of the intangible asset so that it will be available for use or sale; • the Company intends to complete the development of the intangible asset and use or sell it; • the Company has the ability to use or sell the intangible asset; • it is probable that the intangible asset will generate future economic benefits; • adequate technical, financial and other resources are available to complete the development of the intangible asset; and • the Company is able to reliably measure the expenditures attributable to the development of the intangible asset. The Company believes that because of the risks and uncertainties related to the grant of regulatory approval for the commercialization of its product candidates, the technical feasibility of completing its development projects will only be demonstrated when requisite approvals are obtained for the commercialization of products. Accordingly, pursuant to IAS 38, the Company has recognized all of its research and development costs incurred as an expense in 2023 and prior periods. Patents Costs incurred by the Company in connection with the filing of patent applications are recognized as an expense until such time as the relevant patents are obtained, in line with the treatment of research and development costs. Once the patents are obtained from relevant authorities, their related patent costs are amortized on a straight-line basis over the patent protection period. The useful life of the patents is reassessed each year, according to IAS 38. Software The costs of acquiring software licenses are recognized as assets on the basis of the costs incurred to acquire and implement the software to which the license relates. These costs are amortized on a straight-line basis over the life of the license. Recoverable amount of intangible assets Intangible assets with a definite useful life are tested for impairment when there are events or changes in circumstances that indicate that the asset might be impaired. Impairment tests involve comparing the carrying amount of an intangible asset with its recoverable amount. The recoverable amount of an asset is the higher of (i) its fair value less costs to sell and (ii) its value in use. If the recoverable amount of any asset is below its carrying amount, an impairment loss is recognized to reduce the carrying amount to the recoverable amount. |
Property, plant and equipment | Accounting policies Property, plant and equipment are recorded at their acquisition cost. Major renovations and improvements necessary to bring an asset to the working condition for its use as intended by the Company’s management are capitalized. The cost of repairs, maintenance and other renovation work is expensed as incurred. Property, plant and equipment are depreciated on a straight-line basis according to the estimated useful life of the relevant assets. The depreciation periods used are as follows: • General fixtures and fittings, building work: 5 to 10 years; • Technical installations, equipment and industrial tooling: 3 to 10 years; and • Office and IT equipment and furniture: 1 to 10 years. Recoverable amount of property, plant and equipment Property, plant and equipment with a definite useful life are tested for impairment when there are events or changes in circumstances that indicate that the asset might be impaired. An impairment loss is recognized for the excess of the carrying amount of the asset over its recoverable amount. The recoverable amount of an asset is equal to the higher of (i) its fair value less costs to sell and (ii) its value in use. |
Non-current financial assets | Accounting policies for non current financial assets are described in Note 14, ‘‘Financial liabilities.’’ |
Cash and cash equivalents | Accounting policy Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other reasons. They are easily converted into known amounts of cash and are subject to an insignificant risk of changes in value. Cash and cash equivalents consist of liquid assets that are available immediately and term deposits. Cash equivalents are measured at amortized cost. |
Capital issued | Accounting policies Ordinary shares are classified in shareholders’ equity. The cost of equity transactions that are directly attributable to the issue of new shares or options is recognized in shareholders’ equity as a deduction from the proceeds of the issue. |
Provisions | Accounting policies Provisions for contingencies and charges Provisions for contingencies and charges reflect obligations resulting from various disputes and risks for which due dates and amounts are uncertain, that the Company may face as part of its normal business activities. A provision is recognized when the Company has a present obligation (legal or constructive) as a result of a past event, where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The amount recorded in provisions is a best estimate of the outflow of resources that will be required to settle the obligation, discounted, if required, at year-end. Provisions for retirement obligations Company employees receive the retirement benefits provided for by law in France: • Lump-sum retirement benefit paid by the Company to employees upon retirement (defined benefit plan); and • Pension benefits paid by social security agencies, which are financed through employer and employee contributions (State defined contribution plan). The cost of retirement benefits payable under defined benefit plans is estimated using the projected credit unit cost method. Past service cost related to non-vested benefits is recognized as an expense (increase in the benefits granted) or as income (reduction in the benefits granted) when the plan amendment or curtailment occurs. Actuarial gains and losses are recognized directly and in full in other comprehensive income (loss) under equity. Retirement benefit obligations are measured at the present value of future estimated payments by reference to market yields on high quality corporate bonds with a maturity equivalent to that estimated for the plan. The Company uses experts to carry out an annual valuation of the plans. The Company's payments to defined contribution plans are recognized as expenses in each period to which they relate. As of December 31, 2023 and 2022, the Company updated the parameters for calculating the lump-sum retirement benefit plan to take recent changes into account. The salary increase rate, staff turnover and discount rate were all updated (see Note 11.2 for further details on assumptions used). |
Accounting policies | Accounting policies Non-current financial assets Non-current financial assets are recognized and measured in accordance with IFRS 9 – Financial Instruments. No non-current financial assets are estimated at fair value through other comprehensive income (OCI). Pursuant to IFRS 9 – Financial Instruments , financial assets are classified in three categories according to their nature and the intention of management: • Financial assets at fair value through profit and loss; • Financial assets at fair value through other comprehensive income; and • Financial assets at amortized cost. All regular way purchases and sales of financial assets are recognized at the settlement date. Financial assets at fair value through profit or loss This category includes marketable securities, cash and cash equivalents. They represent financial assets held for trading purposes, i.e., assets acquired by the Company to be sold in the short-term. They are measured at fair value and changes in fair value are recognized in the consolidated statements of operations as financial income or expense, as applicable. Financial assets at amortized cost This category includes other financial assets (non-current), trade receivables (current) and other receivables and related accounts (current). Other financial assets (non-current) include advances and security deposits and guarantees granted to third parties as well as term deposits and restricted cash, which are not considered as cash equivalents. They are non-derivative financial assets with fixed or determinable payments that are not listed on an active market. They are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition or issue of the financial asset, except trade receivables that are initially recognized at the transaction price as defined in IFRS 15. After initial recognition, these financial assets are measured at amortized cost using the effective interest rate method when both of the following conditions are met: • The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Gains and losses are recorded in the consolidated statements of operations when they are derecognized, subject to modification of contractual cash flows and/or impaired. IFRS 9 – Financial Instruments requires an entity to recognize a loss allowance for expected credit losses on a financial asset at amortized cost at each Statement of Financial Position date. The amount of the loss allowance for expected credit losses equals: (i) the 12 - month expected credit losses or (ii) the full lifetime expected credit losses. The latter applies if credit risk has increased significantly since initial recognition of the financial instrument. An impairment is recognized, where applicable, on a case–by–case basis to take into account collection difficulties which are likely to occur based on information available at the time of preparation of the financial statements. Disputed receivables are written-off when certain and precise evidence shows that recovery is impossible and existing credit loss allowance are released. Financial assets are monitored for any indication of impairment. Under IFRS 9, the impairment model is based on the accounting on expected credit losses during the life of the financial assets. A financial asset is impaired if its credit risk, determined with both historic and prospective data, increased significantly since its initial booking. The loss will impact the net income (loss) recorded to the statement of operations. Financial liabilities The Company receives assistance in the form of grants, conditional advances and interest-free loans. Under IFRS, a repayable advance that does not require the payment of annual interest is considered to be an interest-free loan. The difference between the amount of the advance at historical cost and the advance discounted at the Company's average borrowing rate is considered to be a government grant. These grants are deferred over the estimated duration of the projects they finance. The long-term (more than one year) portion of conditional advances is recognized in non-current financial liabilities and the short-term portion in current financial liabilities. Non-repayable conditional loans are treated as government grants when there is reasonable assurance that the Company will comply with the conditions for non-repayment. Otherwise, they are classified in liabilities. Government grants made available to offset expenses or losses already incurred, or as immediate financial assistance to the Company with no future related costs, are recognized in income in the period in which the grant is allocated. Financial liabilities are recognized and measured in accordance with IFRS 9 – Financial Instruments. Financial liabilities, including trade and other payables are valued at amortized cost. Financial liabilities at amortized cost Loans and other financial liabilities are recognized and measured in accordance with IFRS 9 – Financial Instruments . They are recognized at amortized cost, which is defined under IFRS 9 as the initial value of a financial asset or liability, after deduction of reimbursement of principal, increased or decreased by the accumulated amortization, calculated using the effective interest rate method. Transaction costs directly attributable to the acquisition or issuance of financial liabilities are deducted from the financial liabilities. The costs are then amortized on an actuarial basis over the life of the liability using the effective interest rate, namely the rate that exactly discounts estimated future cash flows to the net carrying amount of the financial liability in order to determine its amortized cost. |
Revenue and other income | Accounting policies Revenue and other income Revenue is recognized in accordance with IFRS 15. Under IFRS 15, revenue is recognized when the Company satisfies a performance obligation by transferring a distinct good or service (or a distinct bundle of goods and/or services) to a customer, i.e. when the customer obtains control of these goods or services. An asset is transferred when the customer obtains control of the asset (or service). Given the wide spectrum of therapeutic research and development opportunities, aside from the fields that the Company intends to research and develop with its own scientific and financial resources, the Company has entered and expects to enter into license and collaboration agreements with third parties in certain specific fields that have generated or will generate revenue. Therefore, each agreement has been and will be analyzed, on a case-by-case basis to determine whether the arrangement contains performance obligations to the other party and, if so, to identify the nature of these performance obligations in order to determine the appropriate accounting under IFRS 15 principles of the amounts that the Company has received or is entitled to receive from the other party, e.g. : • Development services performed by the Company to create or enhance an intellectual property controlled by the client, for which revenue is recognized over time, when services are rendered; • A transfer of control of an existing intellectual property of the Company for which revenue is recognized at the time such control is transferred; • A license: ◦ If the license is assessed to be a right to access the Company’s intellectual property as it exists throughout the license period, revenue is recognized over the license period; or ◦ If the license is a right to use the Company’s intellectual property as it exists (in term of forms and functionality), revenue is recognized when the other party is able to use and benefit from the license; or • Product supply for which the revenue is recognized once the control over the delivered products is transferred. Contingent revenue arising from successful milestones or sales-based royalties are not recognized before the related milestone has been reached or sale has occurred. Application of IFRS 15 to the Janssen Agreement In July 2023, the Company entered into the Janssen Agreement, granting Janssen an exclusive worldwide license for the development, the manufacturing and the commercialization of NBTXR3. The license is exclusive, excepting territories previously licensed to the Company initial licensee LianBio (see below). Unless terminated earlier, the Janssen Agreement will remain in effect for so long as royalties are payable under the Janssen Agreement. The Janssen Agreement may be terminated earlier by either party in the event that the other party commits an uncured material breach, or in the case of certain insolvency or bankruptcy events. Additionally, Janssen has the right to terminate the agreement without cause, provided they give prior written notice to the Company. The Company will maintain operational control of NANORAY-312 and all other currently ongoing studies, along with NBTXR3 manufacturing, clinical supply, and initial commercial supply, subject to Janssen’ right to object based on concern regarding safety risks or that the study is reasonably likely to adversely affect the development (including commercialization) of the licensed product. Janssen will be fully responsible for an initial Phase 2 study evaluating NBTXR3 for patients with stage three lung cancer. Additionally, as per the license agreement, Janssen may request that Nanobiotix transfer and assign the regulatory documentation and sponsorship for ongoing studies (including NANORAY-312) to Janssen. Following the assignment, if it occurs, Janssen will act as the study sponsor and Nanobiotix will continue to conduct the studies in accordance with established protocols. Following the HSR antitrust clearance, the Company received an upfront cash licensing fee of $30 million. The Company is eligible for success-based payments of up to $1.8 billion, in the aggregate, relating to potential development, regulatory, and sales milestones. Moreover, the agreement includes a framework for additional success-based potential development and regulatory milestone payments of up to $650 million, in the aggregate, for five new indications that may be developed by Janssen at its sole discretion; and of up to $220 million, in the aggregate, per indication that may be developed by the Company in alignment with Janssen. Following commercialization, the Company will also be eligible tiered double-digit royalties (low 10s to low 20s) on net sales of NBTXR3. Revenue is recognized under IFRS 15 – Revenue from contracts with customers (see Note 3.2 – Use of judgement, estimates and assumptions ). The Janssen Agreement, being a license to develop, manufacture, commercialize a product candidate, and ongoing development services, is within the scope of IFRS 15, as it is an output of the Company’s ordinary activities. Following the IFRS 15 analysis, two main distinct performance obligations under the Janssen Agreement have been identified: • License Grant: transfer of all data and information that is useful for the development, manufacture or commercialization of the licensed compound (NBTXR3) worldwide, excluding the Asia Licensing Territory. The license grant corresponds to a right-to-use license and the transfer of this license has been completed by December 31, 2023. Revenue is recognized point in time accordingly (see below); and • Ongoing Nanobiotix-conducted studies: the Company is committed to perform the head and neck (“H&N”) study and other ongoing Nanobiotix-conducted studies. These studies will benefit to Janssen (who holds the license) and therefore represent a service promised to the customer. In the course of the ongoing Nanobiotix-conducted studies, the Company provides development services in connection with the license, which is controlled by Janssen since its transfer, for a certain period of time. Based on the Company’s assessment of the nature of the services, the ongoing Nanobiotix-conducted studies were determined to be a separate performance obligation as the promise is separately identifiable as part of the contract and Janssen can benefit from the services with the license that has already been transferred. Janssen has access to the development progress over time and revenue is recognized accordingly (see below). Under the Janssen Agreement, Janssen is committed to make the following payments: • Upfront payment : Non-refundable upfront fee for $30 million, due within 10 days after the contract execution date as defined in the contract.; • Success-based milestones: Success-based development, regulatory and commercial milestones for up to $1.8 billion in the aggregate; • Royalties : Sales-based royalties. In addition to the above, the Janssen Agreement includes several additional success-based potential development and regulatory milestone payments: • up to $650 million, in the aggregate, for five potential new indications that may be developed by Janssen at its sole discretion; and • up to $220 million, in the aggregate, per indication that may be developed by the Company in alignment with Janssen. Thus, the consideration for Janssen Agreement consists of fixed and variable parts. As of December 31, 2023, the Company estimated the constrained transaction price for $50 million, which includes: • The $30 million upfront payment, allocated among each performance obligation based on their respective standalone selling prices. • Regulatory and development milestones payments whose payment depends on the achievement of certain technical or regulatory events, as provided in the contract. Variable considerations are included in the estimated transaction price if and when, it becomes highly probable that the resulting revenue recognized would not have to be reversed in a future period. Subsequently, as of December 31, 2023, the Company is entitled to receive the $20 million 1st milestone with no risk to refund; had Janssen terminated the contract on January 1, 2024, the Company would still have been entitled the $20 million conditional payment, included in the estimated transaction price due to the high probability of achieving the first milestone as of December 31, 2023. • Estimated variable considerations for commercial milestones are included in the estimated transaction price only when the cumulative threshold specified in the contract has been reached, starting upon the potential commercialization of the licensed products. Sales-based royalties’ revenue are included in the estimated transaction price at the later of (i) when the subsequent sale occurs or (ii) when the performance obligation has been satisfied. No variable consideration relating to commercial milestones or royalties is included in the estimated transaction price as of December 31, 2023. In order to allocate the estimated transaction price to the performance obligations, the Company determined that : • Commercial milestones and royalties should be allocated directly to the license grant, in accordance with IFRS 15.85. • Remaining payments (i.e. upfront payment and R&D milestones related to ongoing Nanobiotix-conducted studies) should be allocated to each performance obligation. The allocation of the remaining payments to each performance obligation has been performed by determining the stand-alone selling price of the ongoing Nanobiotix-conducted studies on cost plus margin basis and the allocation to the license was determined on the residual method. Revenue is recognized at a point in time or overtime depending on the allocation to each performance obligation. In 2023, revenue is recognized at a point in time for the existing know-how transferred to Janssen and overtime for the percentage completed (input method) of the ongoing Nanobiotix-conducted studies. The Janssen Agreement provides a distinct right-to-use license; therefore under IFRS 15, the fixed part of the consideration is included in the estimated transaction price as soon as the licensee can direct the use and benefit from the license. Revenue as of December 31, 2023, amounts to $32.3 million (equivalent to €29.6 million), including $30.0 million (equivalent to €27.5 million) related to the license grant. As of December 31, 2023, the unrecognized revenue amount is accounted for as contract liability, amounting to $17.7 million (equivalent to €16.0 million), out of the $50 million constrained transaction price, that will be recognized according to the completion of the R&D services in the future. As it was entitled to receive the first R&D milestones payment ($20.0 million) that has been invoiced in January 2024, the Company recorded a contract asset of $20.0 million. In accordance with IFRS 15.BC317, contract assets and contract liabilities are presented net which results in a net contract asset of $2.3 million (equivalent to €2.1 million) (see Note 8.3 Contract assets - current). Royalties on commercial sales and commercial milestones, if any, will be recognized as revenue when the underlying sales will be made, under the terms and timeframes set out in the agreement. No related amount was recognized in 2023. Separately, the Company received approximatively $30 million in equity investments from JJDC, comprising an initial tranche of $5 million issued without preferential subscription rights which was received as of September 13, 2023; and a second tranche of $25 million received as follows: $20.2 million received on November 7, 2023, and $4.8 million received on December 4, 2023 (see Note 10 – Share Capital ). Regarding the first tranche, the Company determined that a reallocation of consideration between revenue contract and equity contract was not necessary as there was no significant difference between the fair value of the shares and the subscription price at the date of contract. The fair value of the first tranche is not significant at inception. In addition, regarding the second tranche, as the subscription price was equal to the market price in the framework of the Global Offering (see Note 10 – Share Capital ), which is the fair value of the shares, no reallocation was made. Application of IFRS rules to the Asia Licensing Agreement In May 2021, the Company executed the Asia Licensing Agreement, pursuant to which LianBio received an exclusive right to develop and commercialize NBTXR3 in China and other east Asian countries. Under the Asia Licensing Agreement, the Company remains responsible for the manufacturing of the licensed products. The Company is not required to transfer manufacturing know-how, unless the Company, at any time following a change of control of the Company, fails to provide at least 80% of LianBio's requirements for licensed products in a given calendar year. Pursuant to the Asia Licensing Agreement, the parties will collaborate on the development of NBTRX3 and LianBio will participate in global Phase 3 registrational studies, for several indications, by enrolling patients in China. The Company received in June 2021 a non-refundable upfront payment of $20 million from LianBio. In addition, the Company may receive up to $205 million in potential additional payments upon the achievement of certain development and sales milestones, as well as tiered, low double-digit royalties based on net sales of NBTXR3 in the licensed territories thereunder. The Company is also entitled to receive payments for development and commercial vials ordered by LianBio and supplied by the Company. The license to commercialize a product candidate, ongoing transfer of unspecified know-how related to development and commercialization and the supply services (for commercial products) are in the scope of IFRS 15, as they are an output of the Company’s ordinary activities. For IFRS 15 purpose, it was determined that the license is not distinct from the commercial manufacturing services because the customer cannot benefit from the license without the manufacturing services and such services are not available from third party-contract manufacturers. Accordingly, the license and commercial manufacturing services are treated as one single performance obligation which is recognized as manufacturing services are performed. Milestone payments linked to regulatory marketing approvals will be included in the transaction price only when and if the contingency is resolved and will be recognized as revenue when manufacturing services are provided. Sales-based milestone payments will be recognized when the sales thresholds are achieved. Royalties will be recognized when the underlying sales are made by LianBio. The $20 million upfront payment received from LianBio in June 2021 has been recognized as a Contract Liability and will be recognized as revenue over the term of the arrangement, as manufacturing services (for commercial products) are provided. The mutualization of development efforts leading to the regulatory marketing approvals are treated as a collaboration arrangement outside of the scope of IFRS 15. If any R&D cost incurred is eligible for partial reimbursement by Lianbio, the corresponding recharge is recognized as Other Income. No such amount has been incurred to date. This includes the supply of products necessary to conduct the clinical trials, R&D cost incurred that is eligible for partial reimbursement by Lianbio, that will be recognized as Other Income. The related income will be recognized respectively when the products are delivered to Lianbio and when the eligible costs are incurred by LianBio. Milestone payments linked to regulatory marketing approvals will be included in the transaction price only when and if the contingency is resolved and will be recognized to revenue as manufacturing services are provided. Sales-based milestone payments will be recognized when the sales thresholds are achieved. Royalties will be recognized when the underlying sales are made by LianBio. On May 9, 2022, the Company signed the clinical supply agreement with LianBio as defined in the license, development, and commercialization agreement. This agreement provides for the supply by the Company to LianBio of vials of NBTXR3 and Cetuximab products for clinical trial development activities. For the year ended December 31, 2023, the Company billed the delivery of NBTXR3 and other clinical supplies to LianBio amounting to €334.3 thousand, recorded within Other Income as it relates to the non-IFRS 15 components of the agreement (the development collaboration). See Note 4.2 - LianBio. On June 30, 2023, the Company signed a Global Trial Clinical Agreement (“GTCA”) with LianBio in connection with the Asia Licensing Agreement signed on May 11, 2021. As contemplated by the Asia Licensing Agreement, LianBio shall participate in the global registrational Phase 3 trial “HNSCC 312” conducted by Nanobiotix, with regard to NANORAY-312 trials conducted within the licensed territories thereunder. According to the ‘GTCA’, LianBio is responsible for all internal and external costs incurred in connection with the study in the licensee territories as well as all external costs and expenses incurred by or on behalf of the Company for the global study. In this context, for the year ended December 31, 2023, the Company billed the charging related shared costs to LianBio for an amount of €1.6 million, recorded within Other Income as it relates to the non-IFRS 15 components of the agreement (the development collaboration). On December 22, 2023, the Company, LianBio and Janssen executed a novation agreement whereas all the rights and obligations of Asia Licensing Agreement, dated May 11, 2021, between the Company and LianBio, as well as other related agreements, were assigned from LianBio to Janssen. Whereas the Company analyzed that the rights and obligations of the original License Agreement were transferred without any alteration or modification, the Company concluded that as a result of the novation agreement, the original contract with LianBio was terminated while a new contract was entered onto with Janssen. As a result, the Company derecognized the original contract liability to LianBio, corresponding to the $20 million upfront payment received in 2021, and recognized a new contract liability to LianBio at its fair value, resulting in a loss of €1.6 million as of December 31, 2023 (See Note 4.1, Note 4.2, Note 13 - Trade and other payables, and Note 16.5 - Other operating income and expenses ). The Company determined that the new contract meets the definition of a separate contract, in accordance with IFRS 15.20 and on the other hand does not meet the definition of a contract modification as defined by IFRS 15.18 as the novation agreement resulted from a pre-existing contractual right of LianBio which did not require the approval of the Company. Consequently the contract modification model should not be applied. The Company determined as, in the LianBio contract, the license and manufacturing services are not distinct and represent a single performance obligation. Consequently, the whole amount of the contract liability should be replaced with the fair value of the contract liability of the new contract (see above) and no amount should be released to revenue. Grants Due to its innovative approach to nanomedicine, the Company has received various grants and other assistance from the government of France and French public authorities since its creation. The funds are intended to finance its operations or specific recruitments. Grants are recognized in income as the corresponding expenses are incurred and independently of cash flows received. Research tax credit The French tax authorities grant a research tax credit ( Crédit d’Impôt Recherche , or “CIR”), to companies in order to encourage them to conduct technical and scientific research. Companies demonstrating that they have incurred research expenditures that meet the required criteria (research expenses in France or, since January 1, 2005, other countries in the European Community or the European Economic Area that have signed a tax treaty with France containing an administrative assistance clause) receive a tax credit that can theoretically be compensated with the income tax due on the profits of the financial year during which the expenses have been incurred and the following three years. Any unused portion of the credit is then refunded by the French Treasury. If the Company can be qualified as small and medium-sized enterprises, in France the “PME”, it can request immediate refund of the remaining tax credit, without application of the three-year period). The Company has received research tax credits since its creation. These amounts are recognized as "Other income" in the fiscal year in which the corresponding charges or expenses were incurred. In case of capitalization of research and development expenses, the portion of research tax credit related to capitalized expenses is deducted from the amount of capitalized expenses on the statements of financial position and from the amortization charges for these expenses on the statements of operations. |
Operating expenses | Accounting policies |
Income tax | Accounting policy The Company and its subsidiaries are subject to income tax in their respective jurisdictions. Deferred taxes are recognized on a full provision basis using the liability method for all temporary differences between the tax basis and carrying value of assets and liabilities in the financial statements. The main source of deferred taxes relate to unused tax loss carryforwards. Deferred taxes are measured at the tax rates that are expected to apply to the period when the asset is expected to be realized or the liability is expected to be settled, based on tax rates and tax laws enacted or substantively enacted by the end of the reporting period. Deferred tax assets, which mainly arise as a result of tax loss carryforwards, are only recognized to the extent that it is probable that sufficient taxable income will be available in the future against which to offset the tax loss carryforwards or the temporary differences. Management uses its best judgment to determine such probability. Given the Company’s current stage of development and its short-term earnings outlook, the Company is unable to make sufficiently reliable forecasts of future earnings and accordingly, deferred tax assets have not been recognized and offset only to the extent of deferred tax liabilities in the same taxable entities. |
Segment reporting | In accordance with IFRS 8 – Operating Segments |
Loss per share | Accounting policy Loss per share is calculated by dividing the net loss due to shareholders of the Company by the weighted average number of ordinary shares outstanding during the period. The diluted loss per share is calculated by dividing the results by the weighted average number of common shares in circulation, increased by all dilutive potential common shares. The dilutive potential common shares include, in particular, the share subscription warrants, stock options, free shares, founder subscription warrants and equity line warrants as detailed in Note 10 and 17. Dilution is defined as a reduction of earnings per share or an increase of loss per share. When the exercise of outstanding share options and warrants decreases loss per share, they are considered to be anti-dilutive and excluded from the calculation of loss per share. |
Subsequent events | Accounting policy |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Intangible assets other than goodwill [abstract] | |
Schedule of Intangible Assets | The change in intangible assets breaks down as follows: (in thousands of euros) As of January 1, 2023 Increases Decreases Transfer Currency As of December 31, 2023 Patents 65 — — — — 65 Software 658 9 — — — 667 Intangible assets in progress — — — — — — Gross book value of intangible assets 723 9 — — — 732 Patents (65) — — — — (65) Software (657) (2) — — — (659) Accumulated depreciation of intangible assets (1) (721) (2) — — — (723) Net book value of intangible assets 1 7 — — — 8 (1) Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses (in thousands of euros) As of January 1, 2022 Increases Decreases Transfer Currency As of December 31, 2022 Patents 65 — — — — 65 Software 657 1 — — — 658 Intangible assets in progress — — — — — — Gross book value of intangible assets 722 1 — — — 723 Patents (65) — — — — (65) Software (652) (4) — 0 0 (657) Accumulated depreciation of intangible assets (1) (717) (4) — — — (721) Net book value of intangible assets 4 (3) — 0 0 1 (1) Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Property, plant and equipment [abstract] | |
Schedule of Property, Plant and Equipment | The change in property, plant and equipment is as follows: (in thousands of euros) As of January 1, 2023 Increases Decreases Transfer Currency As of December 31, 2023 Fixtures, fittings and installations 3,318 2 — — — 3,321 Right of use – Buildings 8,462 337 — — — 8,798 Technical equipment 2,128 113 (215) 300 — 2,327 Office and IT equipment 1,012 41 (9) — (1) 1,043 Transport equipment 36 — — — (1) 34 Right of use – Transport equipment — — — — — — Tangible assets in progress 344 — — (300) — 44 Prepayments on tangible assets — 144 — 0 — 144 Gross book value of tangible assets 15,299 638 (223) — (3) 15,712 Fixtures, fittings and installations (1,959) (315) — — — (2,274) Right of use – Buildings (3,496) (960) 8 — — (4,448) Technical equipment (1,774) (187) 211 — — (1,750) Office and IT equipment (915) (55) 14 — 1 (955) Transport equipment (36) — — — 1 (35) Right of use – Transport equipment — — — — — — Accumulated depreciation of tangible assets (1) (8,180) (1,517) 233 — 2 (9,461) Net book value of tangible assets 7,120 (879) 10 — — 6,251 (1) Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses (in thousands of euros) As of January 1, 2022 Increases Decreases Other movements & transfer. Currency As of December 31, 2022 Fixtures, fittings and installations 3,318 — — — — 3,318 Right of use – Buildings 8,393 226 (158) — — 8,462 Technical equipment 2,135 — (7) — — 2,128 Office and IT equipment 1,010 73 (76) — 5 1,012 Transport equipment 33 — — — 2 36 Right of use – Transport equipment 28 — (28) — — — Tangible assets in progress 98 246 — — — 344 Prepayments on tangible assets — — — — — — Gross book value of tangible assets 15,017 545 (269) — 7 15,299 Fixtures, fittings and installations (1,641) (318) — — — (1,959) Right of use – Buildings (2,610) (930) 43 — — (3,496) Technical equipment (1,644) (138) 7 — — (1,774) Office and IT equipment (875) (111) 73 — (3) (915) Transport equipment (33) — — — (2) (36) Right of use – Transport equipment (28) — 28 — — — Accumulated depreciation of tangible assets (1) (6,831) (1,496) 152 — (5) (8,180) Net book value of tangible assets 8,186 (951) (117) — 2 7,120 (1) |
Non-current financial assets (T
Non-current financial assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial assets [abstract] | |
Disclosure of Changes in Non-Current Financial Assets | The change in non-current financial assets breaks down as follows: (in thousands of euros) Liquidity contract - Cash account (1) Security Total Net book value as of December 31, 2021 98 421 519 Additions — — — Decreases (97) (133) (230) Reclassification — — — Currency translation adjustments — 3 3 Net book value as of December 31, 2022 — 291 291 Additions — 16 16 Decreases — (8) (8) Reclassification — — — Currency translation adjustments — (1) (1) Net book value as of December 31, 2023 — 299 299 (1) See note 10.2 Treasury shares |
Trade receivables and other c_2
Trade receivables and other current assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Disclosure of Break Down of Trade Receivables | Accounting policies for trade receivables and other current assets are described in Note 14. 8.1 Trade receivables As of December 31, (in thousands of euros) 2023 2022 Trade receivables 905 101 Trade receivables 905 101 The €101 thousand trade receivables balance as of December 31, 2022 exclusively relates to NBTXR3 products delivered to LianBio according to the supply agreement signed in May 2022, invoiced but not paid yet at December 31, 2022. As of December 31, (in thousands of euros) 2023 2022 Due in 3 months or less 905 101 Due between 3 and 6 months — Due between 6 and 12 months — Due after more than 12 months — Trade receivables 905 101 |
Schedule of Disclosure of Break Down of Other Current Assets | Other current assets break down as follows: As of December 31, (in thousands of euros) 2023 2022 Research tax credit receivable 3,939 4,091 VAT receivable 1,171 1,055 Prepaid expenses 2,560 2,981 Other receivables 1,418 2,741 Other current assets 9,088 10,868 |
Disclosure of Changes in Research Tax Credit Receivables | The change in research tax credit receivables breaks down as follows: (in thousands of euros) Receivable as of December 31, 2021 2,490 Receipt of 2021 research tax credit – Nanobiotix SA (2,272) Receipt of 2021 research tax credit – Curadigm SAS (218) 2022 research tax credit – Nanobiotix SA 3,884 2022 research tax credit – Curadigm SAS 207 Receivable as of December 31, 2022 4,091 Receipt of 2022 research tax credit – Nanobiotix SA (3,884) Receipt of 2022 research tax credit – Curadigm SAS (207) 2023 research tax credit – Nanobiotix SA 3,762 2023 research tax credit – Curadigm SAS 177 Receivable as of December 31, 2023 3,939 |
Schedule of Disclosure of Current Contract assets | Contract assets - Current As of December 31, (in thousands of euros) 2023 2022 Contract assets - Current 2,062 — Contract assets - Current 2,062 — |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Summary of Cash and Cash Equivalents | Detail of cash and cash equivalents Cash and cash equivalent break down as follows: As of December 31, (in thousands of euros) 2023 2022 Cash and bank accounts 75,283 38,576 Short-term bank deposits — 2,813 Net cash and cash equivalents 75,283 41,388 |
Share Capital (Tables)
Share Capital (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Share Capital, Reserves And Other Equity Interest [Abstract] | |
Disclosure of Detail of Share Capital Transactions | Detail of share capital transactions (in thousands or number of shares) Nature of transaction Share Capital Premiums related to share capital Number of shares December 31, 2021 1,045 255,767 34,825,872 March 31, 2022 Capital increase (AGA 2020) 2 0 50,000 March 31, 2022 Prior period adjustments — 2 — April 20, 2022 Free Shares attributions (AGA 2022) — (9) — December 31, 2022 1,046 255,760 34,875,872 April 20, 2023 Capital increase (AGA 2021) 11 — 354,510 June 27, 2023 Free Shares attributions (AGA 2023) — (26) — September 11, 2023 Issuance of new shares - Capital increase (Tranche 1 Janssen) 29 4,642 959,637 November 7, 2023 Issuance of new shares - capital increase (ordinary shares) 75 12,561 2,492,223 November 7, 2023 Issuance of new shares - capital increase (ADS) 114 19,086 3,786,907 November 7, 2023 Capital increase transaction costs (ordinary shares) — (758) — November 7, 2023 Capital increase transactions costs (ADS) — (1,140) — November 10, 2023 Issuance of new shares - Capital increase (Tranche 2 - step 1 Janssen) 113 18,965 3,762,923 December, 13, 2023 Issuance of new shares - Capital increase (Tranche 2 - step 2 Janssen) 27 4,542 901,256 December, 29, 2023 Capital increase transactions costs — (79) — December, 29, 2023 Capital increase transactions costs — (813) — December, 31, 2023 Prior period adjustments — 1 — December 31, 2023 1,414 312,742 47,133,328 BSA Kepler Date of the shareholders’ meeting April 28, 2021 Date of grant by the Executive Board May 18, 2022 Maximum number of BSAs authorized 5,200,000 Total number of BSAs granted 5,200,000 Number of shares to which the BSA were likely to give right on the date of their grant 5,200,000 Starting date for the exercise of the BSA (1) BSA expiry date (2) BSA issue price 500 € in the aggregate Exercise price per new share (3) Terms of exercise (1)(4) Number of shares subscribed as of the date of the Annual Report 0 Total number of forfeited or cancelled BSAs as of the date of the Annual Report 0 Total number of BSAs outstanding as of the date of the Annual Report 5,200,000 Total number of shares available for subscription as of the date of the Annual Report (considering the conditions of exercise of the BSAs) 5,200,000 Maximum total number of shares that may be subscribed for upon exercise of all outstanding BSAs (assuming that all the conditions for the exercise of said BSAs are met) 5,200,000 (1) Subject to meeting the contractual conditions, Kepler Cheuvreux undertakes to exercise the BSA Kepler within 24 months of their date of issue. On December 22, 2023, the agreement has been extended by 120 days to September 2024. These conditions include: (i) Unless Kepler Cheuvreux and the Company agree differently from time to time, a limit as to the number of new shares to be issued as part of the exercise of stock warrants: the cumulative number of new shares issued upon exercise of the BSA Kepler shall be less than or equal to 25% of the total number of Nanobiotix shares traded on the regulated market of Euronext Paris (excluding block trades) from the date of the implementation of the financing facility, and (ii) a limit as to the exercise price of the BSA Kepler: such exercise price shall not be lower than, in any case, the price limit set forth by the combined shareholders’ meeting of the Company dated April 28, 2021. (2) The BSA Kepler may be exercised during a 24-month period as from their issuance date (subject to (i) a prior termination by the Company, at any time, or (ii) an extension for a maximum 6-month period in certain situations), at the end of which the BSA Kepler that are still outstanding shall be purchased by the Company at their issuance price and cancelled. (3) The exercise price of the BSA Kepler will be based on the lower of the two daily volume-weighted average share prices for the two trading days preceding each issuance, less a maximum discount of 5.0%. (4) The BSA Kepler may be exercised at any time in whole or in part by Kepler Cheuvreux during their exercise period, subject to a minimum proceeds condition. |
Disclosure of Detail of Change in Founders' Warrants, Warrants and Free Shares | The Company has granted stock options (OSA), founders’ warrants (BSPCE), warrants (BSA), and free shares (AGA) to corporate officers, employees, members of the Executive and Supervisory Board and consultants of the Group. In certain cases, exercise of the stock options, founders’ warrants and warrants is subject to performance conditions. The Company has no legal or contractual obligation to pay the options in cash. The following tables summarize activity in these plans during the years ended December 31, 2023 and 2022. The impact of share-based payments on income is detailed in Note 17. Founders’ warrants (BSPCE) Type Grant Exercise Outstanding at January 1, 2023 Issued Exercised Forfeited Outstanding at December 31, 2023 Number of BSPCE 2012-2 December 18, 2012 6.63 — — — — — — BSPCE 08-2013 August 28, 2013 5.92 50,000 — — (50,000) — — BSPCE 09-2014 September 16, 2014 18.68 86,150 — — (400) 85,750 85,750 BSPCE 2015-1 February 10, 2015 18.57 68,450 — — (350) 68,100 68,100 BSPCE 2015-3 June 10, 2015 20.28 30,350 — — (1,950) 28,400 28,400 BSPCE 2016 February 2, 2016 14.46 200,626 — — (3,609) 197,017 197,017 BSPCE 2017 January 7, 2017 15.93 179,150 — — (1,050) 178,100 178,100 Total 614,726 — — (57,359) 557,367 557,367 Type Grant Exercise Outstanding at January 1, 2022 Issued Exercised Forfeited Outstanding at December 31, 2022 Number of BSPCE 2012-2 December 18, 2012 6.63 100,000 — — (100,000) — — BSPCE 08-2013 August 28, 2013 5.92 50,000 — — — 50,000 50,000 BSPCE 09-2014 September 16, 2014 18.68 86,150 — — — 86,150 86,150 BSPCE 2015-1 February 10, 2015 18.57 68,450 — — — 68,450 68,450 BSPCE 2015-3 June 10, 2015 20.28 30,350 — — — 30,350 30,350 BSPCE 2016 February 2, 2016 14.46 200,841 — — (215) 200,626 160,673 BSPCE 2017 January 7, 2017 15.93 179,500 — — (350) 179,150 179,150 Total 715,291 — — (100,565) 614,726 574,773 Warrant Plans (BSA) Type Grant date Exercise Outstanding at January 1, 2023 Issued Exercised Forfeited Outstanding at December 31, 2023 Number of BSA 04-12 May 4, 2012 6.00 — — — — — — BSA 2013 April 10, 2013 6.37 6,000 — — (6,000) — — BSA 2014 September 16, 2014 17.67 10,000 — — — 10,000 — BSA 2015-1 February 10, 2015 17.67 21,000 — — — 21,000 — BSA 2015-2(a) June 25, 2015 19.54 64,000 — — — 64,000 — BSA 2017 January 7, 2017 15.76 — — — — — — BSA 2018-1 March 6, 2018 13.55 28,000 — — (28,000) — — BSA 2018-2 July 27, 2018 16.10 5,820 — — — 5,820 — BSA 2019-1 March 29, 2019 11.66 18,000 — — — 18,000 — BSA 2020 March 17, 2020 6.59 18,000 — — — 18,000 — BSA 2021 (a) April 21, 2021 13.47 14,431 — — — 14,431 14,431 BSA 2021 (b) April 21, 2021 13.64 — — — — — — Total 185,251 — — (34,000) 151,251 14,431 Type Grant date Exercise Outstanding at January 1, 2022 Issued Exercised Forfeited Outstanding at December 31, 2022 Number of BSA 04-12 May 4, 2012 6.00 30,000 — — (30,000) — — BSA 2013 April 10, 2013 6.37 6,000 — — — 6,000 6,000 BSA 2014 September 16, 2014 17.67 10,000 — — — 10,000 — BSA 2015-1 February 10, 2015 17.67 21,000 — — — 21,000 — BSA 2015-2(a) June 25, 2015 19.54 64,000 — — — 64,000 — BSA 2016 February 2, 2016 13.74 — — — — — — BSA 2016-2 November 3, 2016 15.01 — — — — — — BSA 2017 January 7, 2017 15.76 18,000 — — (18,000) — — BSA 2018-1 March 6, 2018 13.55 28,000 — — — 28,000 — BSA 2018-2 July 27, 2018 16.10 5,820 — — — 5,820 — BSA 2019-1 March 29, 2019 11.66 18,000 — — — 18,000 — BSA 2020 March 17, 2020 6.59 18,000 — — — 18,000 — BSA 2021 (a) April 21, 2021 13.47 14,431 — — — 14,431 14,431 BSA 2021 (b) April 21, 2021 13.64 30,000 — — (30,000) — — Total 263,251 — — (78,000) 185,251 20,431 Free share plans (AGA) Type Grant date Outstanding at January 1, 2023 Issued Definitively vested Forfeited Outstanding at December 31, 2023 Number of shares exercisable AGA 2021 April 20, 2021 354,711 — (354,510) (201) — — AGA 2022 June 22, 2022 299,035 — — (5,259) 293,776 293,776 AGA 2023 - P1 June 27, 2023 — 427,110 — (26,150) 400,960 400,960 AGA 2023 - P2 June 27, 2023 — 439,210 — (6,650) 432,560 432,560 Total 653,746 866,320 (354,510) (38,260) 1,127,296 1,127,296 Type Grant date Outstanding at January 1, 2022 Issued Definitively vested Forfeited Outstanding at December 31, 2022 Number of shares exercisable AGA 2020 March 11, 2020 50,000 — (50,000) — — — AGA 2021 April 20, 2021 360,512 — — (5,801) 354,711 354,711 AGA 2022 June 22, 2022 — 300,039 — (1,004) 299,035 299,035 Total 410,512 300,039 (50,000) (6,805) 653,746 653,746 |
Disclosure of Detail of Change in Stock Options | Stock Option Plans (OSA) Type Grant date Exercise price (in euros) Outstanding at January 1, 2023 Issued Exercised Forfeited Outstanding at December 31, 2023 Number of shares issuable OSA 2016-1 February 2, 2016 13.05 400 — — — 400 400 OSA 2016-2 November 3, 2016 14.26 4,000 — — — 4,000 4,000 OSA 2017 January 7, 2017 14.97 500 — — — 500 500 OSA 2018 March 6, 2018 12.87 52,000 — — — 52,000 52,000 OSA 2019-1 March 29, 2019 11.08 25,750 — — — 25,750 25,750 OSA LLY 2019 October 24, 2019 6.41 500,000 — — — 500,000 — OSA 2020 March 11, 2020 6.25 381,173 — — (3,398) 377,775 377,775 OSA 2021-04 April 20, 2021 13.74 421,200 — — (25,000) 396,200 30,134 OSA 2021-06 June 21, 2021 12.99 120,000 — — — 120,000 40,000 OSA 2022-001 April 14, 2022 6.17 — — — — — — OSA 2022-06 June 22, 2022 4.16 554,500 — — (13,810) 540,690 140,500 OSA 2023-01 July 20, 2023 5.00 — 338,860 — (20,000) 318,860 — Total 2,059,523 338,860 — (62,208) 2,336,175 671,059 Type Grant date Exercise price (in euros) Outstanding at January 1, 2022 Issued Exercised Forfeited Outstanding at December 31, 2022 Number of shares issuable OSA 2016-1 February 2, 2016 13.05 400 — — — 400 240 OSA 2016-2 November 3, 2016 14.26 4,000 — — — 4,000 4,000 OSA 2017 January 7, 2017 14.97 500 — — — 500 500 OSA 2018 March 6, 2018 12.87 52,000 — — — 52,000 52,000 OSA 2019-1 March 29, 2019 11.08 28,250 — — (2,500) 25,750 25,750 OSA LLY 2019 October 24, 2019 6.41 500,000 — — — 500,000 — OSA 2020 March 11, 2020 6.25 387,456 — — (6,283) 381,173 274,610 OSA 2021-04 April 20, 2021 13.74 491,200 — — (70,000) 421,200 18,619 OSA 2021-06 June 21, 2021 12.99 120,000 — — — 120,000 20,000 OSA 2022-001 April 14, 2022 6.17 — 20,000 — (20,000) — — OSA 2022-06 June 22, 2022 4.16 — 580,900 — (26,400) 554,500 — Total 1,583,806 600,900 — (125,183) 2,059,523 395,719 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Provisions [abstract] | |
Disclosure of Changes in Provisions | (in thousands of euros) As of January 1, 2023 Increases Decreases (1) Currency translation As of December 31, 2023 Lump-sum retirement benefits 270 53 — — 323 Non-current provisions 270 53 — — 323 Provisions for disputes 177 383 (46) (8) 506 Provisions for charges 150 104 — — 253 Current provisions 327 487 (46) (8) 760 Total provisions 597 540 (46) (8) 1,083 (in thousands of euros) As of January 1, 2022 Increases Decreases (1) Currency translation As of December 31, 2022 Lump-sum retirement benefits 318 — (48) — 270 Non-current provisions 318 — (48) — 270 Provisions for disputes 94 80 — — 177 Provisions for charges 16 150 (16) — 150 Current provisions 110 230 (16) — 327 Total provisions 428 230 (64) — 597 (1) See Statement of consolidated cash flows and Note 16.4 for the nature of these decreases |
Disclosure of Commitments for Retirement Benefits | Commitments for retirement benefits As of December 31, (in thousands of euros) 2023 2022 2021 Provision as of beginning of period 270 318 414 Cost of services 65 75 84 Interests / discounting costs 10 3 1 Expense for the period 75 78 85 Gains or losses related to experience (13) (29) (133) Gains or losses related to change in demographic assumptions (30) 5 (5) Gains or losses related to change in financial assumptions 21 (102) (43) Actuarial gains or losses recognized in other comprehensive income (22) (126) (182) Provision as of end of period 323 270 318 |
Disclosure of Assumptions used to Measure Retirement Benefits | The assumptions used to measure lump-sum retirement benefits are as follows: As of December 31, Measurement date 2023 2022 2021 Retirement assumptions Management: Age 66 Non-management: Age 64 Management: Age 66 Non-management: Age 64 Management: Age 66 Non-management: Age 64 Social security contribution rate 45 % 44 % 42 % Discount rate 3.30 % 3.69 % 0.98 % Mortality tables Regulatory table INSEE 2017 - 2019 Regulatory table INSEE 2016 - 2018 Regulatory table INSEE 2015 -2017 Salary increase rate (including inflation) Executive: 4% Non-Executive: 3.5% Executive: 4% Non-Executive: 3.5% Executive: 3% Non-Executive: 2.5% Staff turnover Constant average rate of 8.4% Constant average rate of 5.86% Constant average rate of 5.86% Duration 20 years 20 years 20 years |
Disclosure of Sensitivity Analysis for Actuarial Assumptions | The sensitivity to the discount rate and to the salary growth is as follows: Discount rate 3.05% 3.30% 3.55% Defined Benefit Obligation as of December 31, 2023 (in thousands of euros) 337 323 309 |
Financial liabilities (Tables)
Financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial liabilities [abstract] | |
Disclosure of Changes in Financial Liabilities | Details of financial liabilities As of December 31, (in thousands of euros) 2023 2022 Lease liabilities – Short term 1,199 962 Repayable BPI loan advances - Short term 592 500 PGE Loans* 2,583 2,632 EIB Loan – Short term 649 467 Total current financial liabilities 5,022 4,560 Lease liabilities – Long term 3,883 4,568 Repayable BPI loan advances – Long term 1,872 2,258 PGE Loans* 4,028 6,495 EIB loan – Long term 35,761 35,287 Total non-current financial liabilities 45,543 48,608 Total financial liabilities 50,565 53,169 (*)”PGE”or in French “Prêts garantis par l’Etat” are state-guaranteed loans Detail of financial instruments included in the statements of financial position and impact on income As of December 31, 2023 (in thousands of euros) Book value on Financial assets Assets and liabilities Fair value (1) Non-current financial assets Non-current financial assets 299 — 299 299 Trade receivables 19,004 — 19,004 19,004 Cash and cash equivalents 75,283 — 75,283 75,283 Total assets 94,586 — 94,586 94,586 Financial liabilities Non-current financial liabilities 45,543 — 45,543 47,821 Current financial liabilities 5,022 — 5,022 5,033 Trade payables and other payables 18,237 — 18,237 18,237 Total liabilities 68,802 — 68,802 71,091 (1) The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance, the EIB loan and the HSBC and Bpifrance state-guaranteed loans, was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value. As of December 31, 2023, the carrying value of receivables and current liabilities is assumed to approximate their fair value. As of December 31, 2022 (in thousands of euros) Book value on the statement of financial position Financial assets carried at fair value through profit or loss Assets and liabilities carried at amortized cost Fair value (1) Non-current financial assets Non-current financial assets 291 — 291 291 Trade receivables 101 — 101 101 Cash and cash equivalents 41,388 — 41,388 41,388 Total assets 41,780 — 41,780 41,780 Financial liabilities Non-current financial liabilities 48,608 — 48,608 48,608 Current financial liabilities 4,560 — 4,560 4,560 Trade payables and other payables 9,621 — 9,621 9,621 Total liabilities 62,789 — 62,789 62,789 (1) The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance, the EIB loan and the HSBC and Bpifrance state-guaranteed loans, was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value.. |
Disclosure of Commercialization Date Sensitivity Analysis | Commercialization date sensitivity analysis With constant average discount rate and cumulated net sales : (in thousands of euros) As of December 31, 2023 Commercialization date sensitivity Total debt at amortized cost P&L impact Global impact Based date 36,409 — — 1 year after 33,982 2,427 2,427 (*) one year postponing versus first year of commercialization Commercialization date sensitivity analysis With the same average discount rate and cumulated net sales : (in thousands of euros) As of December 31, 2023 Commercialization date sensitivity Total debt at amortized cost P&L impact Global impact Based date 38,699 — — 1 year after 35,749 2,950 2,950 (*) one year postponing versus first year of commercialization |
Disclosure of Cumulated Net Sales Sensitivity Analysis | Cumulated net sales sensitivity analysis With constant average discount rate and commercialization date : (in thousands of euros) As of December 31, 2023 Cumulated net sales sensitivity Total debt at fair value P&L impact Global impact Net sales -10% 36,718 309 309 Based cumulated net sales 36,409 — — Net sales +10% 36,100 (309) (309) Cumulated net sales sensitivity analysis With constant average discount rate and commercialization date : (in thousands of euros) As of December 31, 2023 Cumulated net sales sensitivity Total debt at fair value P&L impact Global impact Net sales -10% 38,906 207 207 Based cumulated net sales 38,699 — — Net sales +10% 38,492 (207) (207) |
Disclosure of Conditional Advance, Bank Loan and Loans from Government and Public Authorities | Conditional advances and loans from government and public authorities (in thousands of euros) Bpifrance advance Interest-free Bpifrance loan EIB Loan Curadigm Bpifrance advance Total As of January 1, 2022 2,266 493 26,374 300 29,433 Principal received — — — — — Impact of discounting and accretion 3 7 6,855 17 6,882 Accumulated fixed interest expense accrual 47 — 1,643 — 1,690 Accumulated variable interest expense accrual — — 3,740 — 3,740 Repayment — (375) (2,858) — (3,233) As of December 31, 2022 2,316 125 35,754 317 38,512 Principal received — — — 150 150 Impact of discounting and catch-up 16 — (285) (20) (289) Accumulated fixed interest expense accrual 34 — 2,385 — 2,419 Accumulated variable interest expense accrual — — 5,195 — 5,195 Repayment (300) (125) (6,639) (50) (7,114) As of December 31, 2023 2,066 — 36,409 397 38,873 Bank loan (in thousands of euros) HSBC “PGE” (1) Bpifrance “PGE” (1) Total As of January 1, 2022 5,030 5,038 10,068 Principal received — — — Impact of discounting and accretion (1) (7) (8) Accumulated fixed interest expense accrual (2) 42 111 153 Repayment (661) (425) (1,086) As of December 31, 2022 4,409 4,717 9,127 Principal received — — — Impact of discounting and accretion (9) (6) (15) Accumulated fixed interest expense accrual (3) 41 90 131 Repayment (1,287) (1,345) (2,632) As of December 31, 2023 3,155 3,457 6,612 ( 1)”PGE”or in French “Prêts garantis par l’Etat” are state-guaranteed loans (2) In 2022 the fixed interest accrual refers to guaranteed fee of 0.25% of the principal of the HSBC PGE loan and to a guarantee fee of 0.25% added to a fixed interest rate of 1.36% for the Bpifrance PGE loan, respectively. |
Disclosure of Reconciliation of Changes in Lease Liabilities | The table below shows the detail of changes in lease liabilities recognized on the statements of financial position over the periods disclosed: (in thousands of euros) Lease liabilities As of January 1, 2022 6,519 New lease contracts — Indexation effect on current lease commitment 252 Impact of discounting and accretion (26) Fixed interest expense 238 Repayment of lease (1,331) Early termination of lease contracts (122) As of December 31, 2022 5,530 New lease contracts — Indexation effect on current lease commitment 376 Impact of discounting and accretion (31) Fixed interest expense 203 Repayment of lease (996) Early termination of lease contracts — As of December 31, 2023 5,081 The table below shows the detail of changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes. (in thousands of euros) Bpifrance advance Interest-free Bpifrance loan Curadigm Bpifrance advance EIB Loan HSBC Bpifrance Lease Liabilities Total January 1, 2022 2,266 493 300 26,374 5,030 5,038 6,519 46,020 Principal received — — — — — — 252 252 Decrease in loans and conditional advances — (375) — (2,333) (622) (313) — (3,642) Interest paid — — — (525) (39) (113) — (677) Interest paid (IFRS 16) — — — — — — — — Payment of lease liabilities — — — — — — (1,331) (1,331) Early termination of lease contracts — — — — — — (122) (122) Cash flows from — (375) — (2,858) (661) (425) (1,079) (5,520) Indexation effect on current lease commitment — — — — — — — — Impact of discounting and catch-up 3 7 — 6,855 (1) 7 (26) 6,848 Accumulated fixed interest expense accrual 47 — — 1,643 42 111 238 2,081 Accumulated variable interest expense accrual — — — 3,740 — — — 3,740 Non-cash from financing activities 50 7 — 12,238 41 104 212 12,669 As of December 31, 2022 2,316 125 317 35,754 4,409 4,717 5,530 53,169 Principal received — — 150 — — — — 150 Decrease in loans and conditional advances (300) (125) (50) — (1,246) (1,250) — (2,971) Interest paid — — — (6,639) (41) (95) — (6,775) Interest paid (IFRS 16) — — — — — — (203) (203) Payment of lease liabilities — — — — — — (793) (793) Cash flows from (300) (125) 100 (6,639) (1,287) (1,345) (996) (10,592) Indexation effect on current lease commitment — — — — — — 376 376 Impact of discounting and catch-up 16 — (20) (285) (9) (6) (31) (334) Accumulated fixed interest expense accrual 34 — — 2,385 41 90 — 2,550 Accumulated variable interest expense accrual — — — 5,195 — — 201 5,396 Non-cash from financing activities 50 — (20) 7,295 32 84 547 7,988 As of December 31, 2023 2,066 — 397 36,409 3,155 3,457 5,081 50,565 |
Disclosure of Advances Loans and Lease Liabilities | The due dates for repayment of the advances loans and lease liabilities at their nominal value and including fixed-rate interest are as follows: As of December 31, 2023 (in thousands of euros) Less than 1 year Between 1 and Between 3 and More than 5 years Bpifrance 500 1,637 — — Interest-free Bpifrance loan — — — — Curadigm interest-free Bpifrance advance 100 200 175 — HSBC “PGE” 1,285 1,904 — — Bpifrance “PGE” 1,317 2,237 — — EIB fixed rate loan 692 19,946 17,872 51,246 Lease liabilities 1,219 2,434 1,227 621 Total 5,113 28,358 19,274 51,867 As of December 31, 2022 (in thousands of euros) Less than 1 year Between 1 and Between 3 and More than 5 years Bpifrance 300 1,300 837 — Interest-free Bpifrance loan 125 — — — Curadigm interest-free Bpifrance advance 75 200 75 — HSBC “PGE” (1) 1,287 2,557 631 — Bpifrance “PGE” (1) 1,345 2,605 948 — EIB fixed rate loan 467 7,630 30,184 19,869 Lease liabilities 962 2,292 1,904 971 Total 4,560 16,584 34,579 20,840 |
Trade payables and other curr_2
Trade payables and other current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Disclosure of trade and other payables | Details of trade and other payables As of December 31, (in thousands of euros) 2023 2022 Fixed asset payables 173 228 Accrued expenses - clinical trials 11,369 5,394 Trade payables & other accruals 6,695 3,999 Total trade and other payables 18,237 9,621 |
Disclosure of other current liabilities | Other current liabilities As of December 31, (in thousands of euros) 2023 2022 Tax liabilities 451 358 Payroll tax and other payroll liabilities 6,928 6,237 Other payables 247 260 Other current liabilities 7,627 6,855 |
Disclosure of deferred income and contract liabilities | Deferred income and contract liabilities As of December 31, (in thousands of euros) 2023 2022 Deferred income 128 55 Current Contract liabilities 18,100 16,518 Deferred income and current contract liabilities 18,228 16,573 |
Financial instruments include_2
Financial instruments included in the statement of financial position and impact on income (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Disclosure of details of non-current financial assets | Detail of financial instruments included in the statements of financial position and impact on income As of December 31, 2023 (in thousands of euros) Book value on Financial assets Assets and liabilities Fair value (1) Non-current financial assets Non-current financial assets 299 — 299 299 Trade receivables 19,004 — 19,004 19,004 Cash and cash equivalents 75,283 — 75,283 75,283 Total assets 94,586 — 94,586 94,586 Financial liabilities Non-current financial liabilities 45,543 — 45,543 47,821 Current financial liabilities 5,022 — 5,022 5,033 Trade payables and other payables 18,237 — 18,237 18,237 Total liabilities 68,802 — 68,802 71,091 (1) The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance, the EIB loan and the HSBC and Bpifrance state-guaranteed loans, was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value. As of December 31, 2023, the carrying value of receivables and current liabilities is assumed to approximate their fair value. As of December 31, 2022 (in thousands of euros) Book value on the statement of financial position Financial assets carried at fair value through profit or loss Assets and liabilities carried at amortized cost Fair value (1) Non-current financial assets Non-current financial assets 291 — 291 291 Trade receivables 101 — 101 101 Cash and cash equivalents 41,388 — 41,388 41,388 Total assets 41,780 — 41,780 41,780 Financial liabilities Non-current financial liabilities 48,608 — 48,608 48,608 Current financial liabilities 4,560 — 4,560 4,560 Trade payables and other payables 9,621 — 9,621 9,621 Total liabilities 62,789 — 62,789 62,789 (1) The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance, the EIB loan and the HSBC and Bpifrance state-guaranteed loans, was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value.. |
Disclosure of details of financial liabilities | Details of financial liabilities As of December 31, (in thousands of euros) 2023 2022 Lease liabilities – Short term 1,199 962 Repayable BPI loan advances - Short term 592 500 PGE Loans* 2,583 2,632 EIB Loan – Short term 649 467 Total current financial liabilities 5,022 4,560 Lease liabilities – Long term 3,883 4,568 Repayable BPI loan advances – Long term 1,872 2,258 PGE Loans* 4,028 6,495 EIB loan – Long term 35,761 35,287 Total non-current financial liabilities 45,543 48,608 Total financial liabilities 50,565 53,169 (*)”PGE”or in French “Prêts garantis par l’Etat” are state-guaranteed loans Detail of financial instruments included in the statements of financial position and impact on income As of December 31, 2023 (in thousands of euros) Book value on Financial assets Assets and liabilities Fair value (1) Non-current financial assets Non-current financial assets 299 — 299 299 Trade receivables 19,004 — 19,004 19,004 Cash and cash equivalents 75,283 — 75,283 75,283 Total assets 94,586 — 94,586 94,586 Financial liabilities Non-current financial liabilities 45,543 — 45,543 47,821 Current financial liabilities 5,022 — 5,022 5,033 Trade payables and other payables 18,237 — 18,237 18,237 Total liabilities 68,802 — 68,802 71,091 (1) The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance, the EIB loan and the HSBC and Bpifrance state-guaranteed loans, was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value. As of December 31, 2023, the carrying value of receivables and current liabilities is assumed to approximate their fair value. As of December 31, 2022 (in thousands of euros) Book value on the statement of financial position Financial assets carried at fair value through profit or loss Assets and liabilities carried at amortized cost Fair value (1) Non-current financial assets Non-current financial assets 291 — 291 291 Trade receivables 101 — 101 101 Cash and cash equivalents 41,388 — 41,388 41,388 Total assets 41,780 — 41,780 41,780 Financial liabilities Non-current financial liabilities 48,608 — 48,608 48,608 Current financial liabilities 4,560 — 4,560 4,560 Trade payables and other payables 9,621 — 9,621 9,621 Total liabilities 62,789 — 62,789 62,789 (1) The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance, the EIB loan and the HSBC and Bpifrance state-guaranteed loans, was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value.. |
Disclosure of effect of changes in exchange rates | For the year ended December 31, 2023 Impact Contracts Assets Contracts Liabilities (in thousands of euros) Increase Decrease Increase Decrease USD / Euro exchange rate 187 (187) 1,638 (1,638) Total 187 (187) 1,638 (1,638) For the year ended December 31, 2022 Impact Contracts Assets Contracts Liabilities (in thousands of euros) Increase Decrease Increase Decrease USD / Euro exchange rate — — 1,549 (1,549) Total — — 1,549 (1,549) The following table shows the impact of a 10% increase or decrease in the exchange rate between the euro and the U.S. dollar, calculated on the amounts of loans to the Company’s U.S. subsidiaries as of December 31, 2023 and December 31, 2022. For the year ended December 31, 2023 Impact Net income Equity (in thousands of euros) Increase Decrease Increase Decrease USD / Euro exchange rate 22 (22) (22) 22 Total 22 (22) (22) 22 For the year ended December 31, 2022 Impact Net income Equity (in thousands of euros) Increase Decrease Increase Decrease USD / Euro exchange rate 48 (48) (45) 45 Total 48 (48) (45) 45 |
Revenues and other income (Tabl
Revenues and other income (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Revenue [abstract] | |
Schedule of revenues and other income | The following table summarizes the Company’s revenues and other income per category for the years ended December 31, 2023, 2022, and 2021. For the year ended December 31, (in thousands of euros) 2023 2022 2021 Services 29,750 — 5 Other sales 308 — 5 Total revenues 30,058 — 10 Research tax credit 3,939 4,091 2,490 Subsidies 229 135 126 Other 1,981 550 21 Total other income 6,150 4,776 2,637 Total revenues and other income 36,207 4,776 2,647 |
Operating expenses (Tables)
Operating expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Analysis of income and expense [abstract] | |
Disclosure of Research And Development Expense | Research and development expenses For the year ended December 31, (in thousands of euros) 2023 2022 2021 Purchases, sub-contracting and other expenses (26,380) (20,415) (19,562) Payroll costs (including share-based payments) (10,721) (10,868) (9,605) Depreciation, amortization and provision expenses (1) (1,295) (1,353) (1,211) Total research and development expenses (38,396) (32,636) (30,378) (1) see note 16.4 Depreciation, amortization and provision expenses |
Disclosure of Selling, General And Administrative Expenses | Selling, General and Administrative (SG&A) expenses For the year ended December 31, (in thousands of euros) 2023 2022 2021 Purchases, fees and other expenses (9,889) (7,792) (9,638) Payroll costs (including share-based payments) (11,772) (9,688) (9,379) Depreciation, amortization and provision expenses (1) (387) (378) (417) Total SG&A expenses (22,049) (17,857) (19,434) (1) see note 16.4 Depreciation, amortization and provision expenses |
Disclosure of Payroll Costs | Payroll costs For the year ended December 31, (in thousands of euros) 2023 2022 2021 Wages and salaries (13,621) (12,345) (11,391) Payroll taxes (5,585) (4,963) (4,308) Share-based payments (3,222) (3,174) (3,201) Retirement benefit obligations (65) (75) (84) Total payroll costs (22,493) (20,556) (18,984) Average headcount 100 100 96 End-of-period headcount 102 102 100 |
Disclosure of Depreciation, Amortization And Provision Expenses | Depreciation, amortization and provision expenses by function are detailed as follows: For the year ended December 31, 2023 (in thousands of euros) R&D SG&A Total Amortization expense of intangible assets (1) — (1) Amortization expense of tangible assets (1,247) (270) (1,517) Utilization of provision for disputes — — — Provision for charges (47) (116) (163) Utilization of provision for charges — — — Total depreciation, amortization and provision expenses (except IAS 19) (1,295) (387) (1,682) Provision for retirement benefit obligations (IAS 19) (42) (24) (65) Total Provision for retirement benefit obligations (IAS 19) (42) (24) (65) Total depreciation, amortization and provision expenses (1,337) (411) (1,747) For the year ended December 31, 2022 (in thousands of euros) R&D SG&A Total Amortization expense of intangible assets (2) (1) (3) Amortization expense of tangible assets (1,164) (334) (1,497) Utilization of provision for disputes — — — Provision for charges (187) (43) (230) Reversal of provision for disputes — — — Total depreciation, amortization and provision expenses (except IAS 19) (1,353) (378) (1,730) Provision for retirement benefit obligations (IAS 19) (48) (26) (75) Total Provision for retirement benefit obligations (IAS 19) (48) (26) (75) Total depreciation, amortization and provision expenses (1,401) (404) (1,805) For the year ended December 31, 2021 (in thousands of euros) R&D SG&A Total Amortization expense of intangible assets (34) (10) (45) Amortization expense of tangible assets (1,109) (406) (1,515) Utilization of provision for disputes — — — Provision for charges (68) — (68) Reversal of provision for disputes — — — Total depreciation, amortization and provision expenses (except IAS 19) (1,211) (417) (1,628) Provision for retirement benefit obligations (IAS 19) (49) (35) (84) Total Provision for retirement benefit obligations (IAS 19) (49) (35) (84) Total depreciation, amortization and provision expenses (1,260) (452) (1,712) |
Disclosure of Other Operating Income (Expense) | For the year ended December 31, (in thousands of euros) 2023 2022 2021 Other operating expenses (2,542) (985) (5,414) Total Other operating income and expenses (2,542) (985) (5,414) |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Disclosure of number and weighted average remaining contractual life of founders' warrants, warrants, and free shares oustanding | The number of warrants and options outstanding on December 31, 2023 and their main characteristics, are detailed below: Founders’ warrants Pre-2023 founders’ warrant plans BSPCE BSPCE BSPCE BSPCE BSPCE BSPCE BSPCE BSPCE Type of underlying asset New shares New shares New shares New shares New shares New shares New shares New shares Number of founder’s warrants granted 50,000 97,200 71,650 53,050 126,400 129,250 117,650 80,000 Date of shareholders' resolution approving the plan 06/28/2013 06/18/2014 06/18/2014 06/18/2014 06/25/2015 06/25/2015 06/23/2016 06/23/2016 Grant date 08/28/2013 09/16/2014 02/10/2015 06/10/2015 02/02/2016 02/02/2016 01/07/2017 01/07/2017 Contractual expiration date 08/28/2023 09/16/2024 02/10/2025 06/10/2025 02/02/2026 02/02/2026 01/07/2027 01/07/2027 Grant price — — — — — — — — Exercise price €5.92 €18.68 €18.57 €20.28 €14.46 €14.46 €15.93 €15.93 Number of founders’ warrants as of December 31, 2023 — 85,750 68,100 28,400 97,867 99,150 98,100 80,000 Number of founders’ warrants exercised — — — — 333 — — — Including founders’ warrants exercised during the period — — — — — — — — Number of founders’ warrants lapsed or cancelled 50,000 11,450 3,550 24,650 28,200 30,100 19,550 — Including founders’ warrants lapsed or cancelled during the period 50,000 400 350 1,950 2,700 909 1,050 — Warrants (BSA) Pre-2023 warrant plans BSA BSA BSA BSA BSA 2018-1 BSA 2018-2 BSA 2019-1 BSA 2020 BSA 2021 (a) Type of underlying assets New shares New shares New shares New shares New shares New shares New shares New shares New shares Number of warrants granted 10,000 14,000 26,000 64,000 28,000 5,820 18,000 18,000 48,103 Date of shareholders' resolution approving the plan 05/04/2012 06/18/2014 06/18/2014 06/18/2014 06/14/2017 05/23/2018 05/23/2018 04/11/2019 11/30/2020 Grant date 04/10/2013 09/16/2014 02/10/2015 06/25/2015 03/06/2018 07/27/2018 03/29/2019 03/17/2020 04/20/2021 Contractual expiration date 04/10/2023 09/16/2024 02/10/2025 06/25/2025 03/06/2023 07/27/2028 03/29/2029 03/17/2030 04/20/2031 Grant price €2.50 €4.87 €4.87 €5.00 €1.62 €2.36 €1.15 €0.29 €2.95 Exercise price €6.37 €17.67 €17.67 €19.54 €13.55 €16.10 €11.66 €6.59 €13.47 Number of warrants as of December 31, 2023 — 10,000 21,000 64,000 — 5,820 18,000 18,000 14,431 Number of warrants exercised — — — — — — — — — Including warrants exercised during the period — — — — — — — — — Number of warrants lapsed or cancelled 10,000 4,000 5,000 — 28,000 — — — 33,672 Including warrants lapsed or cancelled during the period 6,000 — — — 28,000 — — — — Free shares Pre-2023 free shares plan 2023 free shares plan AGA AGA AGA 2023 - P1 AGA 2023 - P1 Type of underlying assets New shares New shares New shares New shares Number of free shares granted 362,515 300,039 427,110 439,210 Date of shareholders' resolution approving the plan 11/30/2020 04/28/2021 06/27/2023 06/27/2023 Grant date 04/20/2021 06/22/2022 06/27/2023 06/27/2023 Grant price — — — — Exercise price — — — — Number of free shares as of December 31, 2023 — 293,776 400,960 432,560 Number of free shares exercised 354,510 — — — Including free shares exercised during the period — — — — Number of free shares lapsed or cancelled 8,005 6,263 26,150 6,650 Including free shares lapsed or cancelled during the period 201 5,259 26,150 6,650 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2023 557,367 151,251 2,336,175 1,127,296 4,172,089 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2022 614,726 185,251 2,059,523 653,746 3,513,246 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2021 715,291 263,251 1,583,806 410,512 2,972,860 |
Disclosure of number and weighted average remaining contractual life of share options outstanding | Stock options Pre-2023 stock option plans 2023 stock options plan OSA OSA OSA OSA OSA OSA OSA OSA 2021-04 OSA 2021-06 OSA 2022-06 Ordinary OSA 2022-06 Performance OSA 2023-01 Ordinary Type of underlying asset New shares New shares New shares New shares New shares New shares New shares New shares New shares New shares New shares New shares Number of options granted 6,400 4,000 3,500 62,000 37,500 500,000 407,972 571,200 120,000 410,500 170,400 338,860 Date of shareholders' resolution approving the plan 06/25/2015 06/23/2016 06/23/2016 06/14/2017 05/23/2018 04/11/2019 04/11/2019 11/30/2020 04/28/2021 04/28/2021 11/30/2020 06/27/2023 Grant date 02/02/2016 11/03/2016 01/07/2017 03/06/2018 03/29/2019 10/24/2019 03/11/2020 04/20/2021 06/21/2021 06/22/2022 06/22/2022 07/20/2023 Contractual expiration date 02/02/2026 11/03/2026 01/07/2027 03/06/2028 03/29/2029 10/24/2029 03/11/2030 04/20/2031 06/21/2031 06/22/2032 06/22/2032 07/20/2033 Grant price — — — — — — — — — — — — Exercise price €13.05 €14.26 €14.97 €12.87 €11.08 €6.41 €6.25 €13.74 €12.99 €4.16 €4.16 €5.00 Number of options as of December 31, 2023 400 4,000 500 52,000 25,750 500,000 377,775 396,200 120,000 394,500 146,190 318,860 Number of options exercised — — — — — — — — — — — — Number of options as of Including options exercised during the period — — — — — — — — — — — — Number of options lapsed or cancelled 6,000 — 3,000 10,000 11,750 — 30,197 175,000 — 16,000 24,210 20,000 Including options lapsed or cancelled during the period — — — — — — 3,398 25,000 — 3,500 10,310 20,000 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2023 557,367 151,251 2,336,175 1,127,296 4,172,089 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2022 614,726 185,251 2,059,523 653,746 3,513,246 BSPCE BSA OSA AGA Total Total number of shares underlying grants outstanding as of December 31, 2021 715,291 263,251 1,583,806 410,512 2,972,860 |
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period | BSPCE Share price (in euros) Exercise price (in euros) Volatility Maturity (in years) Risk-free rate Yield Value of initial plan (in thousands of euros) Expense for the year ended 2023 (in thousands of euros) Expense for the year ended 2022 (in thousands of euros) Expense for the year ended 2021 (in thousands of euros) BSPCE 08-2013 6.30 5.92 256 % 7 0.90 % 0.00 % 152 — — — BSPCE 09-2014 18.68 18.68 58 % 5.5/6/6.5 0.64 % 0.00 % 965 — — — BSPCE 2015-1 18.57 18.57 58% - 62% - 61% 5.5/6/6.5 0.39 % 0.00 % 50 — — — BSPCE 2015-3 20.28 20.28 61% - 62% - 61% 5.5/6/6.5 0.56 % 0.00 % 483 — — — BSPCE 2016 Ordinary 14.46 14.46 59% - 62% - 60% 5.5/6/6.5 0.32 % 0.00 % 1,080 — — — BSPCE 2016 Performance 14.46 14.46 59 % 5 0.19 % 0.00 % 1,212 18 28 32 BSPCE 2017 Ordinary 15.93 15.93 58% - 61% - 59% 5.5/6/6.5 0.23 % 0.00 % 1,000 0 0 — BSPCE 2017 Performance 15.93 15.93 59 % 5 0.11 % 0.00 % 622 — — — BSPCE 2017 15.93 15.93 59 % 5 0.11 % 0.00 % 627 — — — BSPCE 2017 Project 15.93 15.93 59 % 5 0.11 % 0.00 % 94 — — — Total BSPCE n.a. n.a. n.a. n.a. n.a. n.a. n.a. 18 28 32 BSA Share price (in euros) Exercise price (in euros) Volatility Maturity (in years) Risk-free rate Yield Value of initial plan (in thousands of euros) Expense for the year ended 2023 (in thousands of euros) Expense for the year ended 2022 (in thousands of euros) Expense for the year ended 2021 (in thousands of euros) BSA 2013 6.30 6.37 156 % 6 0.90 % 0.00 % 1 — — — BSA 2014 18.68 17.67 57 % 5 0.41 % 0.00 % — — — — BSA 2015-1 17.67 17.67 58 % 5 0.26% - 0.27% 0.00 % 63 — — — BSA 2015-2 a 19.54 19.54 58%-58%-57%-58% 5/5.1/5.3/5.4 0.39 % 0.00 % 16 — — — BSA 2018-1 13.55 13.55 38 % 4.8 0.7% - 0.1% 0.00 % 2 — — — BSA 2018-2 16.10 16.10 38 % 4.8 0.7% - 0.1% 0.00 % 1 — — — BSA 2019-1 11.66 11.66 37 % 9.8/9.9 0.16% - 0.50% 0.00 % 24 — — — BSA 2020 6.59 6.59 38 % 10 (0.13)% - (0.07)% 0.00 % 19 — — — BSA 2021 (a) 13.47 13.47 39.10 % 10 0.27 % 0.00 % 44 — — 44 Total BSA n.a. n.a. n.a. n.a. n.a. n.a. n.a. — — 44 AGA Share price (in euros) Exercise price (in euros) Volatility Maturity (in years) Risk-free rate Yield Value of initial plan (in thousands of euros) Expense for the year ended 2023 (in thousands of euros) Expense for the year ended 2022 (in thousands of euros) Expense for the year ended 2021 (in thousands of euros) AGA 2018-1 12.87 0.00 n.a. n.a. 0 0.00 % 4,951 — — 16 AGA 2019-1 10.90 0.00 n.a. n.a. 0.19% / 0.141% 0.00 % 4,776 — — 422 AGA 2020 5.90 0.00 n.a. n.a. '-0.74%/ -0.69% 0.00 % 287 — 28 144 AGA 2021 13.60 0.00 n.a. n.a. 0.63% 0.59% 0.00 % 4,869 694 2,283 1,784 AGA 2022 3.68 0.00 n.a. n.a. 0.95% 1.46% 0.00 % 1,092 530 286 — AGA 2023 - P1 4.87 0 n.a. n.a. 3% 3.20% 0.00 % 2,071 497 — — AGA 2023 - P2 4.87 0.00 n.a. n.a. 3% 3.20% 0.00 % 2,130 543 — — Total AGA n.a. n.a. n.a. n.a. n.a. n.a. n.a. 2,264 2,597 2,366 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2023 18 — 941 2,264 3,222 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2022 28 — 549 2,597 3,174 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2021 32 44 760 2,366 3,202 |
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period | OSA Share price (in euros) Exercise price (in euros) Volatility Maturity (in years) Risk-free rate Yield Value of initial plan (in thousands of euros) Expense for the year ended 2023 (in thousands of euros) Expense for the year ended 2022 (in thousands of euros) Expense for the year ended 2021 (in thousands of euros) OSA 2016 Performance 13.05 13.05 59 % 5 0.19 % 0.0 % 69 — — — OSA 2016-2 14.26 14.26 58% - 62% - 59% 5.5 / 6 /6.5 0.04 % 0.0 % 27 — — — OSA 2017 Ordinary 15.93 14.97 58% - 61% - 59% 5.5 / 6 /6.5 0.23 % 0.0 % 31 — — — OSA 2018 12.87 12.87 35 % 5.5 / 6 /6.5 0.00 % 0.0 % 252 — — — OSA 2019-1 11.08 11.08 38.1% / 37.4% 6 /6.5 0.103% / 0.149% 0.0 % 140 — (1) 17 OSA 2019 LLY 6.41 6.41 37 % 10 0.40 % 0.0 % 252 — — — OSA 2020 6.25 6.25 38 % 10 0.31 % 0.0 % 939 13 101 329 OSA 2021-04 O 13.60 13.74 38.9% - 37.8% - 38.3% 5.5 / 6 /6.5 0.38%/ 0.33%/ 0.28% 0.0 % 684 34 (28) 188 OSA 2021-04 P 13.60 13.74 39.10 % 10 0.03 % 0.0 % 1,816 216 163 131 OSA 2021-06 O 12.20 12.99 39.2% / 37.9% / 38.1% 5.5 6 6.5 0.35% 0.30% 0.26% 0.0 % 246 47 107 79 OSA 2021-06 P 12.20 12.99 39.10 % 10 0.13 % 0.0 % 212 24 24 16 OSA 2022-06 O 3.68 4.16 42.06% 41.21% 40.65% 5.5 / 6/6.5 1.83% / 1.87% / 1.90% 0.0 % 580 267 178 — OSA 2022-06 P 3.68 4.16 40.08 % 10 2.28 % 0.0 % 80 20 4 — OSA 2023 - 01 O 6.75 5.00 45.07% - 44.11% - 43.41% 5.55 / 6 / 6.5 2.85% / 2.83% / 2.82% 0.0 % 1,255 321 — — Total OSA n.a. n.a. n.a. n.a. n.a. n.a. n.a. 941 549 760 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2023 18 — 941 2,264 3,222 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2022 28 — 549 2,597 3,174 (in thousands of euros) BSPCE BSA OSA AGA Total Expense for the year ended December 31, 2021 32 44 760 2,366 3,202 |
Net financial income (loss) (Ta
Net financial income (loss) (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income, expense, gains or losses of financial instruments [abstract] | |
Disclosure of Net Financial Income (loss) | For the years ended December 31, (in thousands of euros) 2023 2022 2021 Income from cash and cash equivalents 1,217 256 — Foreign exchange gains 785 3,277 6,347 Other financial income — — 13 Total financial income 2,002 3,533 6,360 Interest cost (7,779) (5,599) (383) EIB debt valuation impact 285 (6,855) — Lease debt interests (203) (238) (288) Losses on fair value variation (4,230) — — Foreign exchange losses (2,877) (1,171) (109) Total financial expenses (14,803) (13,863) (780) Net financial income (loss) (12,801) (10,329) 5,580 |
Income tax (Tables)
Income tax (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income taxes paid (refund) [abstract] | |
Schedule of reconciliation between statutory and effective income tax | The following table reconciles the Company’s theoretical tax expense to its effective tax expense: For the year ended December 31, (in thousands of euros) 2023 2022 2021 Net loss (39,700) (57,041) (47,003) Effective tax expense 120 10 5 Recurring loss before tax (39,580) (57,030) (46,999) Theoretical tax rate (statutory rate in France) 25.00 % 25.00 % 26.50 % Theoretical tax (benefit) expense (9,895) (14,258) (12,455) Share-based payment 805 794 848 Other permanent differences (660) 45 117 Other non-taxable items (CIR) (985) (1,023) (660) Unrecognized deferred tax on deductible differences and tax losses 10,854 14,452 12,154 Effective tax expense 120 10 5 Effective tax rate (0.3) % 0.00 % 0.00 % |
Loss per share (Tables)
Loss per share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Earnings per share [abstract] | |
Schedule of basic and diluted loss per share | For the year ended December 31, 2023 2022 2021 Net loss for the period (in thousands of euros) (39,700) (57,041) (47,063) Weighted average number of shares 36,928,161 34,851,868 34,733,418 Basic loss per share (in euros) (1.08) (1.64) (1.35) Diluted loss per share (in euros) (1.08) (1.64) (1.35) |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Related party transactions [abstract] | |
Schedule of disclosure of significant transactions | The compensation presented below, granted to the members of the Executive Board and Supervisory Board was recognized in expenses over the period shown: For the year ended December 31, (in thousands of euros) 2023 2022 2021 Salaries, wages and benefits 1,735 1,464 1,245 Share-based payments 2,386 2,501 2,018 Supervisory Board’s fees 225 225 375 Total compensation to related parties 4,346 4,190 3,638 |
Company information (Details)
Company information (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Thousands | 1 Months Ended | 4 Months Ended | 12 Months Ended | |||||||||||||||||||||
Dec. 13, 2023 EUR (€) | Dec. 13, 2023 USD ($) $ / shares shares | Dec. 04, 2023 USD ($) | Nov. 10, 2023 EUR (€) € / shares shares | Nov. 07, 2023 EUR (€) € / shares shares | Nov. 07, 2023 USD ($) | Sep. 13, 2023 EUR (€) shares | Sep. 13, 2023 USD ($) shares | Sep. 11, 2023 EUR (€) shares | Jul. 07, 2023 USD ($) | Aug. 31, 2023 EUR (€) | Aug. 31, 2023 USD ($) | Dec. 31, 2023 EUR (€) € / shares shares | Dec. 31, 2023 EUR (€) € / shares shares | Dec. 31, 2023 USD ($) | Dec. 31, 2022 EUR (€) € / shares shares | Dec. 31, 2021 EUR (€) | Dec. 31, 2021 USD ($) | Dec. 31, 2023 $ / shares shares | Dec. 26, 2023 USD ($) | Nov. 07, 2023 $ / shares shares | Oct. 12, 2023 EUR (€) | Jul. 19, 2023 USD ($) | Oct. 18, 2022 EUR (€) | |
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increases | € 60,154 | € 0 | € 0 | |||||||||||||||||||||
Capital increase | € 61,641 | € 0 | ||||||||||||||||||||||
Proceeds from issuing shares | € 57,400 | |||||||||||||||||||||||
Par value per share (euro per share) | € / shares | € 0.03 | € 0.03 | € 0.03 | |||||||||||||||||||||
Payment of advisory fees | $ 1,500 | € 1,400 | ||||||||||||||||||||||
Contractual capital commitments | $ | $ 750 | |||||||||||||||||||||||
Milestone payment upon second regulatory approval | $ | $ 750 | |||||||||||||||||||||||
Global Follow On Offering | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Proceeds from issuing shares | € 31,800 | |||||||||||||||||||||||
Share capital Ordinary shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase, net (in shares) | shares | 12,257,456 | 12,257,456 | 50,000 | 12,257,456 | ||||||||||||||||||||
Capital increase | € 368 | € 2 | ||||||||||||||||||||||
Share capital Ordinary shares | ADS Shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase, net (in shares) | shares | 3,786,907 | 3,786,907 | ||||||||||||||||||||||
Capital increase | € 114 | |||||||||||||||||||||||
Par value per share (euro per share) | € / shares | € 0.03 | |||||||||||||||||||||||
Share capital Ordinary shares | Ordinary shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase, net (in shares) | shares | 2,492,223 | 2,492,223 | ||||||||||||||||||||||
Capital increase | € 75 | |||||||||||||||||||||||
Par value per share (euro per share) | € / shares | € 5.07 | |||||||||||||||||||||||
Share capital Ordinary shares | UNITED STATES | ADS Shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase, net (in shares) | shares | 680,000 | 680,000 | ||||||||||||||||||||||
Par value per share (euro per share) | $ / shares | $ 5.36 | |||||||||||||||||||||||
Premiums related to share capital | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase | € 56,982 | |||||||||||||||||||||||
Premiums related to share capital | ADS Shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase | € 19,086 | |||||||||||||||||||||||
Premiums related to share capital | Ordinary shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase | € 12,561 | |||||||||||||||||||||||
Tranche two | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase | $ | $ 25,000 | |||||||||||||||||||||||
Par value per share (euro per share) | $ / shares | $ 5.36 | |||||||||||||||||||||||
EIB fixed rate loan | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Accrued interest | € 5,400 | € 5,400 | ||||||||||||||||||||||
Milestone payment | 20,000 | € 20,000 | ||||||||||||||||||||||
Borrowings, cumulative milestone prepayment amount | € 100,000 | |||||||||||||||||||||||
Janssen | Share capital Ordinary shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase, net (in shares) | shares | 3,762,923 | 959,637 | 959,637 | 959,637 | ||||||||||||||||||||
Capital increase | € 113 | € 29 | € 29 | |||||||||||||||||||||
Proceeds from issuing shares | $ | 20,200 | |||||||||||||||||||||||
Janssen | Share capital Ordinary shares | ADS Shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase, net (in shares) | shares | 901,256 | |||||||||||||||||||||||
Capital increase | € 27 | |||||||||||||||||||||||
Proceeds from issuing shares | $ | $ 4,800 | |||||||||||||||||||||||
Par value per share (euro per share) | $ / shares | $ 5.36 | |||||||||||||||||||||||
Janssen | Premiums related to share capital | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase | € 18,965 | $ 5,000 | € 4,642 | |||||||||||||||||||||
Janssen | Premiums related to share capital | ADS Shares | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increase | € 4,542 | |||||||||||||||||||||||
Janssen | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Collaboration agreement, upfront payment license fee | $ 30,000 | € 27,500 | $ 30,000 | |||||||||||||||||||||
Collaboration agreement, success-based payment | $ | 1,800,000 | |||||||||||||||||||||||
Capital increases | $ | 30,000 | |||||||||||||||||||||||
Collaboration agreement, equity investment receivable | $ | $ 4,800 | 20,200 | ||||||||||||||||||||||
Janssen | Second Tranche | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Collaboration agreement, equity investment receivable | $ | 25,000 | |||||||||||||||||||||||
Janssen | Tranche two | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Capital increases | $ | $ 4,800 | $ 20,200 | $ 25,000 | |||||||||||||||||||||
Janssen | Top of Range | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Potential development and commercial milestones payments | $ | 650,000 | |||||||||||||||||||||||
Collaboration agreement, compensation per indication | $ | 220,000 | |||||||||||||||||||||||
Janssen | Top of Range | Nanobiotix Corp. | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Collaboration agreement, compensation per indication | $ | $ 220,000 | |||||||||||||||||||||||
LianBio, NBTXR3 | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Upfront payment | $ | $ 20,000 | |||||||||||||||||||||||
LianBio, NBTXR3 | Maximum | ||||||||||||||||||||||||
Disclosure Of Information Related To The Company [Line Items] | ||||||||||||||||||||||||
Potential development and commercial milestones payments | $ | $ 205,000 | $ 225,000 |
General Information, Statemen_2
General Information, Statement of Compliance and Basis of Presentation (Details) - EUR (€) € in Thousands | 12 Months Ended | |||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Oct. 12, 2023 | Oct. 18, 2022 | Dec. 31, 2020 | |
Disclosure of classes of share capital | ||||||
Net losses | € 39,700 | € 57,041 | € 47,003 | |||
Accumulated deficit | 316,500 | |||||
Increase in cash and cash equivalents | 33,895 | (42,533) | (35,230) | |||
Cash and cash equivalents | € 75,283 | € 41,388 | € 83,921 | € 119,151 | ||
EIB fixed rate loan | ||||||
Disclosure of classes of share capital | ||||||
Milestone payment | € 20,000 | € 20,000 |
Consolidation principles and _3
Consolidation principles and methods (Details) | 12 Months Ended | ||
Dec. 31, 2023 uSDollarPerEuro subsidiary parent | Dec. 31, 2022 uSDollarPerEuro | Dec. 31, 2021 uSDollarPerEuro | |
Significant Accounting Policies [Abstract] | |||
Closing foreign exchange rate | 1.1050 | 1.0666 | 1.1326 |
Average foreign exchange rate | 1.0816 | 1.0539 | 1.1835 |
Number of parent entities | parent | 1 | ||
Number of subsidiaries | subsidiary | 5 |
Significant transactions (Detai
Significant transactions (Details) € in Thousands, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 04, 2023 USD ($) | Nov. 07, 2023 USD ($) | Jul. 07, 2023 USD ($) | Oct. 18, 2022 EUR (€) | May 18, 2022 shares | Jan. 01, 2021 | Feb. 03, 2020 USD ($) | Dec. 21, 2018 USD ($) | Aug. 31, 2023 EUR (€) | Aug. 31, 2023 USD ($) | May 31, 2022 | Jun. 30, 2021 USD ($) patient | Mar. 31, 2019 EUR (€) | Jan. 31, 2019 | Oct. 31, 2018 EUR (€) | Jul. 31, 2018 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2023 EUR (€) shares | Dec. 31, 2023 USD ($) shares | Dec. 31, 2022 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 EUR (€) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2023 USD ($) | Dec. 26, 2023 USD ($) | Oct. 12, 2023 EUR (€) | Jul. 19, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2020 EUR (€) | |
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Contract termination indemnities | € | € 5,400 | |||||||||||||||||||||||||||||
Milestone payment upon second regulatory approval | $ 750 | |||||||||||||||||||||||||||||
Increase in loans and conditional advances | € | € 150 | € 0 | 0 | |||||||||||||||||||||||||||
Loans repayments | € | 2,971 | 3,642 | € 2,833 | |||||||||||||||||||||||||||
Contractual capital commitments | $ 750 | |||||||||||||||||||||||||||||
Prepaid expenses | € | € 2,560 | 2,981 | ||||||||||||||||||||||||||||
BSA | Kepler Cheuvreux subscription agreement | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Underwriting agreement, maximum number of shares issued (in shares) | shares | 5,200,000 | 5,200,000 | 5,200,000 | |||||||||||||||||||||||||||
Underwriting agreement, maximum period | 24 months | 24 months | 24 months | |||||||||||||||||||||||||||
Underwriting agreement, maximum discount | 5% | |||||||||||||||||||||||||||||
Exercise commission percentage | 2% | |||||||||||||||||||||||||||||
EIB fixed rate loan | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Increase in loans and conditional advances | € | € 14,000 | € 16,000 | ||||||||||||||||||||||||||||
Borrowings, interest rate | 21.30% | 5% | 6% | |||||||||||||||||||||||||||
Undrawn borrowing facilities | € | € 10,000 | |||||||||||||||||||||||||||||
Royalties agreement, period | 6 years | 6 years | 6 years | |||||||||||||||||||||||||||
Remaining notional amount | € | € 25,300 | |||||||||||||||||||||||||||||
Net sales threshold | € | 5,000 | |||||||||||||||||||||||||||||
Accrued interest | € | 5,400 | € 5,400 | ||||||||||||||||||||||||||||
Milestone payment | € | € 20,000 | 20,000 | ||||||||||||||||||||||||||||
First installment period | 1 year | |||||||||||||||||||||||||||||
Second installment period | 2 years | |||||||||||||||||||||||||||||
Prorated payment, maximum percentage of milestone payment | 10% | |||||||||||||||||||||||||||||
Borrowings, cumulative milestone prepayment amount | € | € 100,000 | |||||||||||||||||||||||||||||
Loans repayments | € | € 800 | |||||||||||||||||||||||||||||
Maximum | Event One | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Milestone payment increase | $ 2,200 | |||||||||||||||||||||||||||||
Maximum | Event Two | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Milestone payment increase | $ 16,400 | |||||||||||||||||||||||||||||
First Tranche | EIB fixed rate loan | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Borrowings, interest rate | 6% | |||||||||||||||||||||||||||||
Remaining notional amount | € | € 16,000 | |||||||||||||||||||||||||||||
Second Tranche | EIB fixed rate loan | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Borrowings, interest rate | 5% | |||||||||||||||||||||||||||||
Remaining notional amount | € | € 9,300 | |||||||||||||||||||||||||||||
Second Tranche | EIB fixed rate loan, tranche two | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Remaining notional amount | € | € 9,300 | |||||||||||||||||||||||||||||
Top of Range | EIB fixed rate loan | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Notional amount | € | € 40,000 | |||||||||||||||||||||||||||||
Maximum | EIB fixed rate loan | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Notional amount | € | € 40,000 | |||||||||||||||||||||||||||||
Janssen | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Collaboration agreement, upfront payment license fee | $ 30,000 | € 27,500 | $ 30,000 | |||||||||||||||||||||||||||
Collaboration agreement, success-based payment | 1,800,000 | |||||||||||||||||||||||||||||
Proceeds receivable due to milestone completion | $ 20,000 | |||||||||||||||||||||||||||||
Collaboration agreement, equity investment receivable | $ 4,800 | $ 20,200 | ||||||||||||||||||||||||||||
Janssen | First Tranche | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Collaboration agreement, equity investment receivable | 5,000 | |||||||||||||||||||||||||||||
Janssen | Second Tranche | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Collaboration agreement, equity investment receivable | 25,000 | |||||||||||||||||||||||||||||
Janssen | Top of Range | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Potential development and commercial milestones payments | 650,000 | |||||||||||||||||||||||||||||
Collaboration agreement, compensation per indication | 220,000 | |||||||||||||||||||||||||||||
Janssen | Nanobiotix Corp. | Top of Range | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Collaboration agreement, compensation per indication | $ 220,000 | |||||||||||||||||||||||||||||
LianBio, NBTXR3 | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Upfront payment received | $ 20,000 | $ 20,000 | ||||||||||||||||||||||||||||
Collaboration agreement, amount collected | € | 1,600 | |||||||||||||||||||||||||||||
Upfront payment | 20,000 | |||||||||||||||||||||||||||||
LianBio, NBTXR3 | Maximum | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Potential development and commercial milestones payments | $ 205,000 | |||||||||||||||||||||||||||||
LianBio, NBTXR3 | Maximum | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Potential development and commercial milestones payments | 205,000 | $ 225,000 | ||||||||||||||||||||||||||||
Termination of PharmaEngine License and Collaboration Agreement, NBTXR3 | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Upfront payment | $ 6,500 | |||||||||||||||||||||||||||||
Contractual Commitments, Cumulative Payments | 6,500 | |||||||||||||||||||||||||||||
Contract termination indemnities | $ 1,000 | $ 6,500 | ||||||||||||||||||||||||||||
Milestone payment upon second regulatory approval | $ 5,000 | $ 5,000 | ||||||||||||||||||||||||||||
Royalties agreement, period | 10 years | |||||||||||||||||||||||||||||
Milestone payment upon receipt of clinical study reports | $ 1,000 | $ 1,000 | ||||||||||||||||||||||||||||
MD Anderson Cancer Center, NBTXR3 | ||||||||||||||||||||||||||||||
Disclosure of transactions between related parties [line items] | ||||||||||||||||||||||||||||||
Upfront payment | $ 1,000 | $ 1,000 | ||||||||||||||||||||||||||||
Number of patients | patient | 312 | |||||||||||||||||||||||||||||
Contractual capital commitments | $ 11,000 | |||||||||||||||||||||||||||||
Milestone payment, deferment period | 6 months | |||||||||||||||||||||||||||||
Prepaid expenses | € | € 1,200 | € 1,500 |
Intangible assets (Details)
Intangible assets (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Intangible assets at beginning of period | € 1 | € 4 |
Increases | 7 | |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Intangible assets at end of period | 8 | 1 |
Gross book value of intangible assets | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Intangible assets at beginning of period | 723 | 722 |
Increases | 9 | 1 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Intangible assets at end of period | 732 | 723 |
Gross book value of intangible assets | Patents | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Intangible assets at beginning of period | 65 | 65 |
Increases | 0 | 0 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Intangible assets at end of period | 65 | 65 |
Gross book value of intangible assets | Software | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Intangible assets at beginning of period | 658 | 657 |
Increases | 9 | 1 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Intangible assets at end of period | 667 | 658 |
Gross book value of intangible assets | Intangible assets in progress | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Intangible assets at beginning of period | 0 | 0 |
Increases | 0 | 0 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Intangible assets at end of period | 0 | 0 |
Accumulated depreciation of intangible assets | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Intangible assets at beginning of period | (721) | (717) |
Increases | (2) | (4) |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Intangible assets at end of period | (723) | (721) |
Accumulated depreciation of intangible assets | Patents | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Intangible assets at beginning of period | (65) | (65) |
Increases | 0 | 0 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Intangible assets at end of period | (65) | (65) |
Accumulated depreciation of intangible assets | Software | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Intangible assets at beginning of period | (657) | (652) |
Increases | (2) | (4) |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Intangible assets at end of period | € (659) | (657) |
Netting | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Increases | € (3) |
Property, plant and equipment -
Property, plant and equipment - Additional Information (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Transfer | € 0 | € 0 |
Disposals, property, plant and equipment | 117 | |
Gross book value of tangible assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Increase in right-of-use assets | 638 | 545 |
Transfer | 0 | 0 |
Disposals, property, plant and equipment | 223 | 269 |
Right of use – Buildings | Gross book value of tangible assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Increase in right-of-use assets | 337 | 226 |
Transfer | 0 | 0 |
Disposals, property, plant and equipment | 0 | 158 |
Right of use – Buildings | Gross book value of tangible assets | Wattignies | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Addition to annual rent expense | 200 | 100 |
Right of use – Buildings | Gross book value of tangible assets | Waccano | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Addition to annual rent expense | € 100 | 100 |
Right of use – Buildings | Bottom of Range | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation periods of property, plant and equipment | 5 years | |
Right of use – Buildings | Top of Range | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation periods of property, plant and equipment | 10 years | |
Technical equipment | Gross book value of tangible assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Increase in right-of-use assets | € 113 | 0 |
Transfer | 300 | 0 |
Disposals, property, plant and equipment | € 215 | 7 |
Technical equipment | Bottom of Range | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation periods of property, plant and equipment | 3 years | |
Technical equipment | Top of Range | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation periods of property, plant and equipment | 10 years | |
Office and IT equipment | Gross book value of tangible assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Increase in right-of-use assets | € 41 | 73 |
Transfer | 0 | 0 |
Disposals, property, plant and equipment | € 9 | 76 |
Office and IT equipment | Bottom of Range | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation periods of property, plant and equipment | 1 year | |
Office and IT equipment | Top of Range | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation periods of property, plant and equipment | 10 years | |
Tangible Assets In Progress | Gross book value of tangible assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Transfer | € 300 | |
Fixtures, fittings and installations | Gross book value of tangible assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Increase in right-of-use assets | 2 | 0 |
Transfer | 0 | 0 |
Disposals, property, plant and equipment | € 0 | € 0 |
Fixtures, fittings and installations | Bottom of Range | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation periods of property, plant and equipment | 5 years | |
Fixtures, fittings and installations | Top of Range | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation periods of property, plant and equipment | 10 years |
Property, plant and equipment_2
Property, plant and equipment - Schedule of Property, Plant and Equipment (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | € 7,120 | € 8,186 |
Decreases | (117) | |
Transfer | 0 | 0 |
Currency translation | 0 | 2 |
Property, plant and equipment at end of period | 6,251 | 7,120 |
Gross book value of tangible assets | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 15,299 | 15,017 |
Increases | 638 | 545 |
Decreases | (223) | (269) |
Transfer | 0 | 0 |
Currency translation | (3) | 7 |
Property, plant and equipment at end of period | 15,712 | 15,299 |
Gross book value of tangible assets | Fixtures, fittings and installations | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 3,318 | 3,318 |
Increases | 2 | 0 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | 3,321 | 3,318 |
Gross book value of tangible assets | Right of use – Buildings | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 8,462 | 8,393 |
Increases | 337 | 226 |
Decreases | 0 | (158) |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | 8,798 | 8,462 |
Gross book value of tangible assets | Technical equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 2,128 | 2,135 |
Increases | 113 | 0 |
Decreases | (215) | (7) |
Transfer | 300 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | 2,327 | 2,128 |
Gross book value of tangible assets | Office and IT equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 1,012 | 1,010 |
Increases | 41 | 73 |
Decreases | (9) | (76) |
Transfer | 0 | 0 |
Currency translation | (1) | 5 |
Property, plant and equipment at end of period | 1,043 | 1,012 |
Gross book value of tangible assets | Transport equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 36 | 33 |
Increases | 0 | 0 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | (1) | 2 |
Property, plant and equipment at end of period | 34 | 36 |
Gross book value of tangible assets | Right of use – Transport equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 0 | 28 |
Increases | 0 | 0 |
Decreases | 0 | (28) |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | 0 | 0 |
Gross book value of tangible assets | Tangible assets in progress | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 344 | 98 |
Increases | 0 | 246 |
Decreases | 0 | 0 |
Transfer | (300) | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | 44 | 344 |
Gross book value of tangible assets | Prepayments on tangible assets | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 0 | 0 |
Increases | 144 | 0 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | 144 | 0 |
Accumulated depreciation of tangible assets | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | (8,180) | (6,831) |
Increases | (1,517) | (1,496) |
Decreases | 233 | 152 |
Transfer | 0 | 0 |
Currency translation | 2 | (5) |
Property, plant and equipment at end of period | (9,461) | (8,180) |
Accumulated depreciation of tangible assets | Fixtures, fittings and installations | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | (1,959) | (1,641) |
Increases | (315) | (318) |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | (2,274) | (1,959) |
Accumulated depreciation of tangible assets | Right of use – Buildings | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | (3,496) | (2,610) |
Increases | (960) | (930) |
Decreases | 8 | 43 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | (4,448) | (3,496) |
Accumulated depreciation of tangible assets | Technical equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | (1,774) | (1,644) |
Increases | (187) | (138) |
Decreases | 211 | 7 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | (1,750) | (1,774) |
Accumulated depreciation of tangible assets | Office and IT equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | (915) | (875) |
Increases | (55) | (111) |
Decreases | 14 | 73 |
Transfer | 0 | 0 |
Currency translation | 1 | (3) |
Property, plant and equipment at end of period | (955) | (915) |
Accumulated depreciation of tangible assets | Transport equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | (36) | (33) |
Increases | 0 | 0 |
Decreases | 0 | 0 |
Transfer | 0 | 0 |
Currency translation | 1 | (2) |
Property, plant and equipment at end of period | (35) | (36) |
Accumulated depreciation of tangible assets | Right of use – Transport equipment | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment at beginning of period | 0 | (28) |
Increases | 0 | 0 |
Decreases | 0 | 28 |
Transfer | 0 | 0 |
Currency translation | 0 | 0 |
Property, plant and equipment at end of period | 0 | 0 |
Netting | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Increases | (879) | € (951) |
Decreases | € 10 |
Non-current financial assets -
Non-current financial assets - Disclosure of Changes in Non-current Financial Assets (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Increase (decrease) in financial assets [abstract] | ||
Non-current financial assets at beginning of period | € 291 | € 519 |
Additions | 16 | 0 |
Decreases | (8) | (230) |
Reclassification | 0 | 0 |
Currency translation adjustments | (1) | 3 |
Non-current financial assets at end of period | 299 | 291 |
Liquidity contract - Cash account | ||
Increase (decrease) in financial assets [abstract] | ||
Non-current financial assets at beginning of period | 0 | 98 |
Additions | 0 | 0 |
Decreases | 0 | (97) |
Reclassification | 0 | 0 |
Currency translation adjustments | 0 | 0 |
Non-current financial assets at end of period | 0 | 0 |
Security deposits paid | ||
Increase (decrease) in financial assets [abstract] | ||
Non-current financial assets at beginning of period | 291 | 421 |
Additions | 16 | 0 |
Decreases | (8) | (133) |
Reclassification | 0 | 0 |
Currency translation adjustments | (1) | 3 |
Non-current financial assets at end of period | € 299 | € 291 |
Trade receivables and other c_3
Trade receivables and other current assets - Disclosure of Break Down of Trade Receivables (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||
Trade receivables | € 905 | € 101 |
Due in 3 months or less | ||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||
Trade receivables | 905 | 101 |
Due between 3 and 6 months | ||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||
Trade receivables | 0 | |
Due between 6 and 12 months | ||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||
Trade receivables | 0 | |
Due after more than 12 months | ||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||
Trade receivables | € 0 |
Trade receivables and other c_4
Trade receivables and other current assets - Additional Information (Details) € in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2023 EUR (€) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | Dec. 31, 2023 USD ($) | |
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Trade receivables | € 905 | € 101 | ||
Prepaid expenses | 2,560 | 2,981 | ||
Decrease in other receivables | (4,375) | (4,215) | € (5,034) | |
Payments to suppliers for goods and services | 1,100 | 2,700 | ||
Supplier | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Decrease in other receivables | 1,300 | |||
Master Service Agreement | Janssen | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Trade receivables | 500 | |||
2023 Tax Year | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Research tax credit | 4,000 | |||
2023 Tax Year | Nanobiotix S.A. | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Research tax credit | 3,762 | |||
2023 Tax Year | Curadigm SAS | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Research tax credit | 177 | |||
2022 Tax Year | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Research tax credit | 4,100 | |||
2022 Tax Year | Nanobiotix S.A. | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Research tax credit | 3,884 | |||
2022 Tax Year | Curadigm SAS | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Research tax credit | 207 | |||
Third Party Services | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Prepaid expenses | 1,100 | |||
Clinical Products | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Prepaid expenses | 200 | |||
Janssen | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Trade receivables | $ | $ 20 | |||
LianBio, NBTXR3 | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Trade receivables | 300 | |||
MD Anderson Cancer Center, NBTXR3 | ||||
Disclosure of Trade Receivables and Other Current Assets [Line Items] | ||||
Prepaid expenses | € 1,200 | € 1,500 |
Trade receivables and other c_5
Trade receivables and other current assets - Disclosure of Break Down of Other Current Assets (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Subclassifications of assets, liabilities and equities [abstract] | |||
Research tax credit receivable | € 3,939 | € 4,091 | € 2,490 |
VAT receivable | 1,171 | 1,055 | |
Prepaid expenses | 2,560 | 2,981 | |
Other receivables | 1,418 | 2,741 | |
Other current assets | € 9,088 | € 10,868 |
Trade receivables and other c_6
Trade receivables and other current assets - Disclosure of Changes in Research Tax Credit Receivables (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Research tax credit receivable at beginning of period | € 4,091 | € 2,490 |
Research tax credit receivable at end of period | 3,939 | 4,091 |
2021 Tax Year | Nanobiotix S.A. | ||
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Refund of research tax credit | (2,272) | |
2021 Tax Year | Curadigm SAS | ||
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Refund of research tax credit | (218) | |
2022 Tax Year | ||
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Research tax credit | 4,100 | |
2022 Tax Year | Nanobiotix S.A. | ||
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Refund of research tax credit | (3,884) | |
Research tax credit | 3,884 | |
2022 Tax Year | Curadigm SAS | ||
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Refund of research tax credit | (207) | |
Research tax credit | € 207 | |
2023 Tax Year | ||
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Research tax credit | 4,000 | |
2023 Tax Year | Nanobiotix S.A. | ||
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Research tax credit | 3,762 | |
2023 Tax Year | Curadigm SAS | ||
Current prepayments and current accrued income other than current contract assets [abstract] | ||
Research tax credit | € 177 |
Trade receivables and other c_7
Trade receivables and other current assets - Disclosure of Non Current Deferred Income and Contract Liabilities (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Contract Assets - Current | € 2,062 | € 0 |
Cash and cash equivalents - Sum
Cash and cash equivalents - Summary of Cash and Cash Equivalents (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Subclassifications of assets, liabilities and equities [abstract] | ||||
Cash and bank accounts | € 75,283 | € 38,576 | ||
Short-term bank deposits | 0 | 2,813 | ||
Net cash and cash equivalents | € 75,283 | € 41,388 | € 83,921 | € 119,151 |
Cash and cash equivalents - Add
Cash and cash equivalents - Additional Information (Details) € in Thousands, $ in Millions | 1 Months Ended | 4 Months Ended | 12 Months Ended | ||||
Jul. 07, 2023 USD ($) | Aug. 31, 2023 EUR (€) | Aug. 31, 2023 USD ($) | Dec. 31, 2023 EUR (€) | Dec. 31, 2023 EUR (€) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | |
Disclosure of classes of share capital | |||||||
Increase in cash and cash equivalents | € 33,895 | € (42,533) | € (35,230) | ||||
Proceeds from issuing shares | € 57,400 | ||||||
EIB fixed rate loan | |||||||
Disclosure of classes of share capital | |||||||
Repayments of current borrowings | € 5,400 | ||||||
Janssen | |||||||
Disclosure of classes of share capital | |||||||
Collaboration agreement, upfront payment license fee | $ 30 | € 27,500 | $ 30 |
Share Capital - Disclosure of D
Share Capital - Disclosure of Detail of Share Capital Transactions (Details) $ in Millions | 12 Months Ended | |||||||||||||||
Dec. 31, 2023 EUR (€) shares | Dec. 29, 2023 EUR (€) | Dec. 13, 2023 EUR (€) shares | Nov. 10, 2023 EUR (€) shares | Nov. 07, 2023 EUR (€) shares | Nov. 07, 2023 USD ($) shares | Sep. 13, 2023 EUR (€) shares | Sep. 13, 2023 USD ($) shares | Sep. 11, 2023 EUR (€) shares | Jun. 27, 2023 EUR (€) | Apr. 20, 2023 EUR (€) shares | Apr. 20, 2022 EUR (€) | Mar. 31, 2022 EUR (€) shares | Mar. 11, 2022 EUR (€) | Dec. 31, 2023 EUR (€) shares | Dec. 31, 2022 EUR (€) shares | |
Shareholders’ equity | ||||||||||||||||
Equity at beginning of period | € (27,045,000) | € 26,790,000 | ||||||||||||||
Capital increase | 61,641,000 | 0 | ||||||||||||||
Free shares attribution | 0 | |||||||||||||||
Equity at end of period | € (1,843,000) | (1,843,000) | (27,045,000) | |||||||||||||
Tranche two | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | $ | $ 25 | |||||||||||||||
Janssen | Tranche two | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase transaction costs | € (79,000) | |||||||||||||||
Janssen | Tranche three | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase transaction costs | € (813,000) | |||||||||||||||
AGA 2023 | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 10,635.3 | |||||||||||||||
Share Capital | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Equity at beginning of period | € 1,386,962.17 | € 1,274,074.48 | € 1,085,700.58 | € 1,056,911.47 | € 1,046,276.16 | 1,046,276.16 | 1,045,000 | |||||||||
Capital increase | 368,000 | 2,000 | ||||||||||||||
Equity at end of period | € 1,413,999.85 | 1,413,999.85 | 1,386,962.17 | 1,274,074.48 | 1,085,700.58 | 1,056,911.46 | € 1,413,999.85 | € 1,046,276.16 | ||||||||
Number of shares | ||||||||||||||||
Number of shares outstanding at beginning of period (in shares) | shares | 34,875,872 | 34,825,872 | ||||||||||||||
Capital increase, net (in shares) | shares | 12,257,456 | 12,257,456 | 50,000 | |||||||||||||
Number of shares outstanding at end of period (in shares) | shares | 47,133,328 | 47,133,328 | 34,875,872 | |||||||||||||
Share Capital | Janssen | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 113,000 | € 29,000 | € 29,000 | |||||||||||||
Number of shares | ||||||||||||||||
Capital increase, net (in shares) | shares | 3,762,923 | 959,637 | 959,637 | 959,637 | ||||||||||||
Share Capital | Ordinary shares | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 75,000 | |||||||||||||||
Number of shares | ||||||||||||||||
Capital increase, net (in shares) | shares | 2,492,223 | 2,492,223 | ||||||||||||||
Share Capital | ADS Shares | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 114,000 | |||||||||||||||
Number of shares | ||||||||||||||||
Capital increase, net (in shares) | shares | 3,786,907 | 3,786,907 | ||||||||||||||
Share Capital | ADS Shares | Janssen | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 27,000 | |||||||||||||||
Number of shares | ||||||||||||||||
Capital increase, net (in shares) | shares | 901,256 | |||||||||||||||
Share Capital | AGA 2020 | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 2,000 | |||||||||||||||
Number of shares | ||||||||||||||||
Capital increase, net (in shares) | shares | 50,000 | |||||||||||||||
Share Capital | AGA 2021 | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 11,000 | |||||||||||||||
Number of shares | ||||||||||||||||
Capital increase, net (in shares) | shares | 354,510 | |||||||||||||||
Premiums related to share capital | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Equity at beginning of period | € 255,760,000 | € 255,767,000 | ||||||||||||||
Capital increase | 56,982,000 | |||||||||||||||
Prior period adjustments | € 1,000 | € 2,000 | ||||||||||||||
Free shares attribution | (7,000) | |||||||||||||||
Equity at end of period | € 312,742,000 | € 312,742,000 | € 255,760,000 | |||||||||||||
Premiums related to share capital | Janssen | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 18,965,000 | $ 5 | € 4,642,000 | |||||||||||||
Premiums related to share capital | Ordinary shares | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 12,561,000 | |||||||||||||||
Capital increase transaction costs | (758,000) | |||||||||||||||
Premiums related to share capital | ADS Shares | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | 19,086,000 | |||||||||||||||
Capital increase transaction costs | € (1,140,000) | |||||||||||||||
Premiums related to share capital | ADS Shares | Janssen | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Capital increase | € 4,542,000 | |||||||||||||||
Premiums related to share capital | AGA 2022 | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Free shares attribution | € (9,000) | |||||||||||||||
Premiums related to share capital | AGA 2023 | ||||||||||||||||
Shareholders’ equity | ||||||||||||||||
Free shares attribution | € (26,000) |
Share Capital - Capital Issued
Share Capital - Capital Issued (Details) | Dec. 13, 2023 EUR (€) € / shares shares | Nov. 10, 2023 EUR (€) € / shares shares | Nov. 07, 2023 EUR (€) € / shares shares | Sep. 13, 2023 EUR (€) € / shares shares | Apr. 20, 2023 EUR (€) € / shares shares | Dec. 31, 2023 EUR (€) € / shares shares | Dec. 13, 2023 $ / shares | Dec. 12, 2023 EUR (€) | Nov. 09, 2023 EUR (€) | Nov. 06, 2023 EUR (€) | Sep. 12, 2023 EUR (€) | Sep. 11, 2023 shares | Apr. 19, 2023 EUR (€) | Dec. 31, 2022 EUR (€) € / shares shares | Mar. 31, 2022 shares | Dec. 31, 2021 EUR (€) shares |
Disclosure of classes of share capital | ||||||||||||||||
Equity | € | € (1,843,000) | € (27,045,000) | € 26,790,000 | |||||||||||||
Par value per share (euro per share) | € / shares | € 0.03 | € 0.03 | ||||||||||||||
Share Capital | ||||||||||||||||
Disclosure of classes of share capital | ||||||||||||||||
Equity | € | € 1,413,999.85 | € 1,386,962.17 | € 1,274,074.48 | € 1,085,700.58 | € 1,056,911.46 | € 1,413,999.85 | € 1,386,962.17 | € 1,274,074.48 | € 1,085,700.58 | € 1,056,911.47 | € 1,046,276.16 | € 1,046,276.16 | € 1,045,000 | |||
Number of shares outstanding (in shares) | 47,133,328 | 34,875,872 | 34,825,872 | |||||||||||||
Increase (decrease) in equity | € | € 27,037.68 | € 112,887.69 | € 188,373.9 | € 28,789.11 | € 10,635.3 | |||||||||||
Increase (decrease) in number of shares outstanding | 6,279,130 | |||||||||||||||
Share price (euro per share) | € / shares | € 0.03 | |||||||||||||||
Capital increase, net (in shares) | 12,257,456 | 50,000 | ||||||||||||||
Share Capital | ADS Shares | ||||||||||||||||
Disclosure of classes of share capital | ||||||||||||||||
Par value per share (euro per share) | € / shares | € 0.03 | |||||||||||||||
Capital increase, net (in shares) | 3,786,907 | |||||||||||||||
Share Capital | Janssen | ||||||||||||||||
Disclosure of classes of share capital | ||||||||||||||||
Share price (euro per share) | € / shares | € 0.03 | € 0.03 | ||||||||||||||
Capital increase, net (in shares) | 3,762,923 | 959,637 | 959,637 | |||||||||||||
Share Capital | Janssen | ADS Shares | ||||||||||||||||
Disclosure of classes of share capital | ||||||||||||||||
Par value per share (euro per share) | $ / shares | $ 5.36 | |||||||||||||||
Share price (euro per share) | € / shares | € 0.03 | |||||||||||||||
Capital increase, net (in shares) | 901,256 | |||||||||||||||
Share Capital | AGA 2021 | ||||||||||||||||
Disclosure of classes of share capital | ||||||||||||||||
Share price (euro per share) | € / shares | € 0.03 | |||||||||||||||
Capital increase, net (in shares) | 354,510 | |||||||||||||||
Share Capital | AGA 2020 | ||||||||||||||||
Disclosure of classes of share capital | ||||||||||||||||
Capital increase, net (in shares) | 50,000 |
Share Capital - Treasury Shares
Share Capital - Treasury Shares (Details) | Dec. 31, 2022 shares |
Treasury shares | |
Disclosure of classes of share capital | |
Number of shares outstanding (in shares) | 22,118 |
Share Capital - Disclosure of_2
Share Capital - Disclosure of Detail of Change in Founders' Warrants, Warrants, Stock Options and Free Shares (Details) | 12 Months Ended | |||||||||||||||||||||||||||
Jul. 20, 2023 € / shares | Jun. 27, 2023 shares | Jun. 22, 2022 shares € / shares | Apr. 14, 2022 € / shares | Jun. 21, 2021 shares € / shares | Apr. 21, 2021 € / shares | Apr. 20, 2021 shares € / shares | Mar. 17, 2020 shares € / shares | Mar. 11, 2020 shares € / shares | Oct. 24, 2019 shares € / shares | Mar. 29, 2019 shares € / shares | Jul. 27, 2018 shares € / shares | Mar. 06, 2018 shares € / shares | Jan. 07, 2017 € / shares | Nov. 03, 2016 shares € / shares | Feb. 02, 2016 € / shares | Jun. 25, 2015 shares € / shares | Jun. 10, 2015 shares € / shares | Feb. 10, 2015 shares € / shares | Sep. 16, 2014 shares € / shares | Aug. 28, 2013 shares € / shares | Apr. 10, 2013 shares € / shares | Dec. 18, 2012 € / shares | May 04, 2012 € / shares | Dec. 31, 2023 shares € / shares | Dec. 31, 2023 shares | Dec. 31, 2023 shares uSDollarPerEuro | Dec. 31, 2022 shares | |
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 3,513,246 | 2,972,860 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | |||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 4,172,089 | 3,513,246 | ||||||||||||||||||||||||||
BSPCE | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 614,726 | 715,291 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (57,359) | (100,565) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 557,367 | 614,726 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 557,367 | 557,367 | 557,367 | 574,773 | ||||||||||||||||||||||||
BSPCE 2012-2 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 6.63 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | 100,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | (100,000) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSPCE 08-2013 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 5.92 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 50,000 | 50,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 50,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (50,000) | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | 50,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 50,000 | ||||||||||||||||||||||||
BSPCE 09-2014 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 18.68 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 86,150 | 86,150 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 97,200 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (400) | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 85,750 | 86,150 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 85,750 | 85,750 | 85,750 | 86,150 | ||||||||||||||||||||||||
BSPCE 2015-1 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 18.57 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 68,450 | 68,450 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 71,650 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (350) | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 68,100 | 68,450 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 68,100 | 68,100 | 68,100 | 68,450 | ||||||||||||||||||||||||
BSPCE 2015-3 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 20.28 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 30,350 | 30,350 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 53,050 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (1,950) | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 28,400 | 30,350 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 28,400 | 28,400 | 28,400 | 30,350 | ||||||||||||||||||||||||
BSPCE 2016 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 14.46 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 200,626 | 200,841 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (3,609) | (215) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 197,017 | 200,626 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 197,017 | 197,017 | 197,017 | 160,673 | ||||||||||||||||||||||||
BSPCE 2017 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 15.93 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 179,150 | 179,500 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (1,050) | (350) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 178,100 | 179,150 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 178,100 | 178,100 | 178,100 | 179,150 | ||||||||||||||||||||||||
BSA | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 185,251 | 263,251 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (34,000) | (78,000) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 151,251 | 185,251 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 14,431 | 14,431 | 14,431 | 20,431 | ||||||||||||||||||||||||
BSA 04-12 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 6 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | 30,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | (30,000) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2013 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 6.37 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 6,000 | 6,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 10,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (6,000) | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | 6,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 6,000 | ||||||||||||||||||||||||
BSA 2014 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 17.67 | € 17.67 | ||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 10,000 | 10,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 14,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 10,000 | 10,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2015-1 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 17.67 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 21,000 | 21,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 26,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 21,000 | 21,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2015-2 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 19.54 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 64,000 | 64,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 64,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 64,000 | 64,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2016 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | 13.74 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | |||||||||||||||||||||||||||
Exercised (in shares) | 0 | |||||||||||||||||||||||||||
Forfeited (in shares) | 0 | |||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | |||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | |||||||||||||||||||||||||||
BSA 2016-2 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 15.01 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | |||||||||||||||||||||||||||
Exercised (in shares) | 0 | |||||||||||||||||||||||||||
Forfeited (in shares) | 0 | |||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | |||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | |||||||||||||||||||||||||||
BSA 2017 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | 15.76 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | 18,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | (18,000) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2018-1 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 13.55 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 28,000 | 28,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 28,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (28,000) | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | 28,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2018-2 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 16.10 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 5,820 | 5,820 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 5,820 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 5,820 | 5,820 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2019-1 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 11.66 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 18,000 | 18,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 18,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 18,000 | 18,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2020 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 6.59 | |||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 18,000 | 18,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 18,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 18,000 | 18,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
BSA 2021 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 13.47 | € 13.47 | € 13.47 | |||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 14,431 | 14,431 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 48,103 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 14,431 | 14,431 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 14,431 | 14,431 | 14,431 | 14,431 | ||||||||||||||||||||||||
BSA 2021 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 13.64 | € 13.64 | ||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | 30,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | (30,000) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
OSA | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 2,059,523 | 1,583,806 | ||||||||||||||||||||||||||
Issued (in shares) | 338,860 | 600,900 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (62,208) | (125,183) | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 2,336,175 | 2,059,523 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 671,059 | 671,059 | 671,059 | 395,719 | ||||||||||||||||||||||||
OSA 2016-1 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 13.05 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 400 | 400 | ||||||||||||||||||||||||||
Issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 400 | 400 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 400 | 400 | 400 | 240 | ||||||||||||||||||||||||
OSA 2016-2 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 14.26 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 4,000 | 4,000 | ||||||||||||||||||||||||||
Issued (in shares) | 4,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 4,000 | 4,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 4,000 | 4,000 | 4,000 | 4,000 | ||||||||||||||||||||||||
OSA 2017 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 14.97 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 500 | 500 | ||||||||||||||||||||||||||
Issued (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 500 | 500 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 500 | 500 | 500 | 500 | ||||||||||||||||||||||||
OSA 2018 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 12.87 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 52,000 | 52,000 | ||||||||||||||||||||||||||
Issued (in shares) | 62,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 52,000 | 52,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 52,000 | 52,000 | 52,000 | 52,000 | ||||||||||||||||||||||||
OSA 2019-1 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 11.08 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 25,750 | 28,250 | ||||||||||||||||||||||||||
Issued (in shares) | 37,500 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | (2,500) | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 25,750 | 25,750 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 25,750 | 25,750 | 25,750 | 25,750 | ||||||||||||||||||||||||
OSA LLY 2019 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 6.41 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 500,000 | 500,000 | ||||||||||||||||||||||||||
Issued (in shares) | 500,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 500,000 | 500,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
OSA 2020 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 6.25 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 381,173 | 387,456 | ||||||||||||||||||||||||||
Issued (in shares) | 407,972 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (3,398) | (6,283) | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 377,775 | 381,173 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 377,775 | 377,775 | 377,775 | 274,610 | ||||||||||||||||||||||||
OSA 2021-04 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 13.74 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 421,200 | 491,200 | ||||||||||||||||||||||||||
Issued (in shares) | 571,200 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (25,000) | (70,000) | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 396,200 | 421,200 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 30,134 | 30,134 | 30,134 | 18,619 | ||||||||||||||||||||||||
OSA 2021-06 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 12.99 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 120,000 | 120,000 | ||||||||||||||||||||||||||
Issued (in shares) | 120,000 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 120,000 | 120,000 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 40,000 | 40,000 | 40,000 | 20,000 | ||||||||||||||||||||||||
OSA 2022-001 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 6.17 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Issued (in shares) | 0 | 20,000 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | 0 | (20,000) | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
OSA 2022-06 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 4.16 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 554,500 | 0 | ||||||||||||||||||||||||||
Issued (in shares) | 0 | 580,900 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (13,810) | (26,400) | ||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 540,690 | 554,500 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 140,500 | 140,500 | 140,500 | 0 | ||||||||||||||||||||||||
OSA 2023-01 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 5 | |||||||||||||||||||||||||||
Outstanding at beginning of period (in shares) | 0 | |||||||||||||||||||||||||||
Issued (in shares) | 338,860 | |||||||||||||||||||||||||||
Exercised (in shares) | 0 | |||||||||||||||||||||||||||
Forfeited (in shares) | (20,000) | |||||||||||||||||||||||||||
Outstanding at end of period (in shares) | 318,860 | 0 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | |||||||||||||||||||||||||
AGA | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 653,746 | 410,512 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 866,320 | 300,039 | ||||||||||||||||||||||||||
Exercised (in shares) | (354,510) | (50,000) | ||||||||||||||||||||||||||
Forfeited (in shares) | (38,260) | (6,805) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 1,127,296 | 653,746 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 1,127,296 | 1,127,296 | 1,127,296 | 653,746 | ||||||||||||||||||||||||
AGA 2020 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | 50,000 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 0 | |||||||||||||||||||||||||||
Exercised (in shares) | (50,000) | |||||||||||||||||||||||||||
Forfeited (in shares) | 0 | |||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | |||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | |||||||||||||||||||||||||||
AGA 2021 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 354,711 | 360,512 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 362,515 | 0 | 0 | |||||||||||||||||||||||||
Exercised (in shares) | (354,510) | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (201) | (5,801) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 0 | 354,711 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 0 | 0 | 0 | 354,711 | ||||||||||||||||||||||||
AGA 2022 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 299,035 | 0 | ||||||||||||||||||||||||||
Number of shares issued (in shares) | 300,039 | 0 | 300,039 | |||||||||||||||||||||||||
Exercised (in shares) | 0 | 0 | ||||||||||||||||||||||||||
Forfeited (in shares) | (5,259) | (1,004) | ||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 293,776 | 293,776 | 299,035 | |||||||||||||||||||||||||
Number of shares issuable (in shares) | 293,776 | 293,776 | 293,776 | 299,035 | ||||||||||||||||||||||||
AGA 2023 - P1 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | |||||||||||||||||||||||||||
Number of shares issued (in shares) | 427,110 | 427,110 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | |||||||||||||||||||||||||||
Forfeited (in shares) | (26,150) | |||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 400,960 | 0 | ||||||||||||||||||||||||||
Number of shares issuable (in shares) | 400,960 | 400,960 | 400,960 | |||||||||||||||||||||||||
AGA 2023 - P2 | ||||||||||||||||||||||||||||
Share Based Payment [Roll Forward] | ||||||||||||||||||||||||||||
Outstanding, beginning of period (in shares) | 0 | |||||||||||||||||||||||||||
Number of shares issued (in shares) | 439,210 | 439,210 | ||||||||||||||||||||||||||
Exercised (in shares) | 0 | |||||||||||||||||||||||||||
Forfeited (in shares) | (6,650) | |||||||||||||||||||||||||||
Outstanding, end of period (in shares) | 432,560 | 432,560 | 0 | |||||||||||||||||||||||||
Number of shares issuable (in shares) | 432,560 | 432,560 | 432,560 |
Share Capital - Founders_ warra
Share Capital - Founders’ warrants (Details) - BSPCE | 12 Months Ended |
Dec. 31, 2023 employee patient | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of threshold | patient | 500 |
Former employees | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of employees with service conditions lifted | 3 |
Former Executive Board members | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Number of employees with service conditions lifted | 2 |
Share Capital - Warrant Plans (
Share Capital - Warrant Plans (Details) | 12 Months Ended | |||
Mar. 06, 2018 shares € / shares | Apr. 10, 2013 shares € / shares | Dec. 31, 2023 shares € / shares | Dec. 31, 2022 shares € / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares issued (in shares) | 0 | |||
Par value per share (euro per share) | € / shares | € 0.03 | € 0.03 | ||
BSA 2013 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares issued (in shares) | 10,000 | 0 | 0 | |
Exercise price (in euros per share) | € / shares | € 6.37 | |||
Number of awards lapsed or cancelled during the period (in shares) | 6,000 | 0 | ||
BSA 2013 | Supervisory Board | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares issued (in shares) | 6,000 | |||
Par value per share (euro per share) | € / shares | € 0.03 | |||
Exercise price (in euros per share) | € / shares | € 6.37 | |||
Number of awards lapsed or cancelled during the period (in shares) | 6,000 | |||
BSA 2018 | Supervisory Board | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares issued (in shares) | 28,000 | |||
Par value per share (euro per share) | € / shares | € 0.03 | |||
Exercise price (in euros per share) | € / shares | € 13.55 | |||
Number of awards lapsed or cancelled during the period (in shares) | 28,000 |
Share Capital - Stock Option Pl
Share Capital - Stock Option Plans (Details) | Jul. 20, 2023 shares € / shares | Jun. 22, 2022 shares € / shares | Dec. 31, 2023 € / shares | Nov. 07, 2023 $ / shares | Dec. 31, 2022 € / shares |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Par value per share (euro per share) | € 0.03 | € 0.03 | |||
Tranche two | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Par value per share (euro per share) | $ / shares | $ 5.36 | ||||
OSA 2022-06 Ordinary | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Issued (in shares) | shares | 410,500 | ||||
Exercise price (in euros per share) | € 4.16 | ||||
Executive Board and Employees | Ordinary Stock Options | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Issued (in shares) | shares | 338,860 | ||||
Par value per share (euro per share) | € 0.03 | ||||
Exercise price (in euros per share) | € 5 | ||||
Maximum term of options granted for share-based payment arrangement | 10 years | ||||
Executive Board and Employees | Ordinary Stock Options | Top of Range | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Maximum term of options granted for share-based payment arrangement | 10 years | ||||
Executive Board and Employees | OSA 2022-06 Ordinary | Tranche one | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting requirements for share-based payment arrangement, vesting percentage | 33.33% | ||||
Executive Board and Employees | OSA 2022-06 Ordinary | Tranche two | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting requirements for share-based payment arrangement, vesting percentage | 33.33% | ||||
Executive Board and Employees | OSA 2022-06 Ordinary | Tranche three | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting requirements for share-based payment arrangement, vesting percentage | 33.33% |
Share Capital - Free Share Plan
Share Capital - Free Share Plans (Details) | 12 Months Ended | |||||
Jun. 27, 2023 shares € / shares | Jun. 22, 2022 shares | Mar. 11, 2022 EUR (€) shares | Apr. 20, 2021 shares | Dec. 31, 2023 EUR (€) shares € / shares | Dec. 31, 2022 EUR (€) shares € / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 0 | |||||
Par value per share (euro per share) | € / shares | € 0.03 | € 0.03 | ||||
Capital increase | € | € 61,641,000 | € 0 | ||||
AGA 2023 - P1 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 427,110 | 427,110 | ||||
AGA 2023 - P2 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 439,210 | 439,210 | ||||
AGA 2021 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 362,515 | 0 | 0 | |||
AGA 2022 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 300,039 | 0 | 300,039 | |||
Vesting requirements for share-based payment arrangement, holding period | 1 year | |||||
Vesting requirements for share-based payment arrangement, acquisition period | 2 years | |||||
AGA 2023 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 354,510 | |||||
Vesting requirements for share-based payment arrangement, holding period | 1 year | |||||
Vesting requirements for share-based payment arrangement, acquisition period | 2 years | |||||
Capital increase | € | € 10,635.3 | |||||
AGA | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 866,320 | 300,039 | ||||
Maximum term of options granted for share-based payment arrangement in the event of death or disability of optionee | 6 months | |||||
Executive Board and Employees | AGA 2023 - P1 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 427,110 | |||||
Par value per share (euro per share) | € / shares | € 0.03 | |||||
Vesting requirements for share-based payment arrangement, holding period | 1 year | |||||
Vesting requirements for share-based payment arrangement, acquisition period | 2 years | |||||
Executive Board and Employees | AGA 2023 - P2 | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares issued (in shares) | 439,210 | |||||
Par value per share (euro per share) | € / shares | € 0.03 | |||||
Vesting requirements for share-based payment arrangement, holding period | 1 year | |||||
Vesting requirements for share-based payment arrangement, acquisition period | 2 years |
Share Capital - Warrants (BSA)
Share Capital - Warrants (BSA) Equity Line Kepler (Details) - BSA | 1 Months Ended | 12 Months Ended | |||
May 18, 2022 shares | May 31, 2022 | May 18, 2022 | Dec. 31, 2023 shares | Dec. 31, 2022 shares | |
Disclosure of classes of share capital | |||||
Number of warrants (BSAs) exercised (in shares) | 0 | 0 | |||
Kepler Cheuvreux subscription agreement | |||||
Disclosure of classes of share capital | |||||
Underwriting agreement, maximum period | 24 months | 24 months | |||
Underwriting agreement, maximum number of shares issued (in shares) | 5,200,000 | 5,200,000 | |||
Underwriting agreement, term of exercise | 120 days | ||||
Underwriting agreement, maximum extension period | 6 months | ||||
Underwriting agreement, maximum discount | 5% | ||||
Number of warrants (BSAs) exercised (in shares) | 0 | ||||
Kepler Cheuvreux subscription agreement | Maximum | |||||
Disclosure of classes of share capital | |||||
Underwriting agreement, percentage of total number of shares traded | 25% |
Provisions - Disclosure of Chan
Provisions - Disclosure of Changes in Provisions (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Other Provisions [Roll Forward] | ||
Other provisions at beginning of period | € 597 | € 428 |
Increases | 540 | 230 |
Decreases | (46) | (64) |
Currency translation | (8) | 0 |
Other provisions at end of period | 1,083 | 597 |
Lump-sum retirement benefits | ||
Other Provisions [Roll Forward] | ||
Other provisions at beginning of period | 270 | 318 |
Increases | 53 | 0 |
Decreases | 0 | (48) |
Currency translation | 0 | 0 |
Other provisions at end of period | 323 | 270 |
Non-current provisions | ||
Other Provisions [Roll Forward] | ||
Other provisions at beginning of period | 270 | 318 |
Increases | 53 | 0 |
Decreases | 0 | (48) |
Currency translation | 0 | 0 |
Other provisions at end of period | 323 | 270 |
Provisions for disputes | ||
Other Provisions [Roll Forward] | ||
Other provisions at beginning of period | 177 | 94 |
Increases | 383 | 80 |
Decreases | (46) | 0 |
Currency translation | (8) | 0 |
Other provisions at end of period | 506 | 177 |
Provisions for charges | ||
Other Provisions [Roll Forward] | ||
Other provisions at beginning of period | 150 | 16 |
Increases | 104 | 150 |
Decreases | 0 | (16) |
Currency translation | 0 | 0 |
Other provisions at end of period | 253 | 150 |
Current provisions | ||
Other Provisions [Roll Forward] | ||
Other provisions at beginning of period | 327 | 110 |
Increases | 487 | 230 |
Decreases | (46) | (16) |
Currency translation | (8) | 0 |
Other provisions at end of period | € 760 | € 327 |
Provisions - Additional Informa
Provisions - Additional Information (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of other provisions [table] | |||
Provision used | € 0 | € 0 | € 0 |
Provision for charges | € 540 | 230 | |
Payable, period | 5 years | ||
Provisions for disputes | |||
Disclosure of other provisions [table] | |||
Provision used | € 300 | 80 | |
Provision for charges | 383 | 80 | |
Provisions for charges | |||
Disclosure of other provisions [table] | |||
Provision for charges | € 104 | € 150 |
Provisions - Disclosure of Comm
Provisions - Disclosure of Commitments for Retirement Benefits (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Provisions [abstract] | |||
Provisions of retirement benefits at beginning of period | € 270 | € 318 | € 414 |
Cost of services | 65 | 75 | 84 |
Interests / discounting costs | 10 | 3 | 1 |
Expense for the period | 75 | 78 | 85 |
Gains or losses related to experience | (13) | (29) | (133) |
Gains or losses related to change in demographic assumptions | (30) | 5 | (5) |
Gains or losses related to change in financial assumptions | 21 | (102) | (43) |
Actuarial gains or losses recognized in other comprehensive income | (22) | (126) | (182) |
Provisions of retirement benefits at end of period | € 323 | € 270 | € 318 |
Provisions - Disclosure of Assu
Provisions - Disclosure of Assumptions Used to Measure Retirement Benefits (Details) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of defined benefit plans [table] | |||
Social security contribution rate | 45% | 44% | 42% |
Discount rate | 3.30% | 3.69% | 0.98% |
Staff turnover | 8.40% | 5.86% | 5.86% |
Duration | 20 years | 20 years | 20 years |
Management | |||
Disclosure of defined benefit plans [table] | |||
Retirement assumptions | 66 years | 66 years | 66 years |
Non-management | |||
Disclosure of defined benefit plans [table] | |||
Retirement assumptions | 64 years | 64 years | 64 years |
Executive | |||
Disclosure of defined benefit plans [table] | |||
Salary increase rate (including inflation) | 4% | 4% | 3% |
Non-executive | |||
Disclosure of defined benefit plans [table] | |||
Salary increase rate (including inflation) | 3.50% | 3.50% | 2.50% |
Provisions - Disclosure of Sens
Provisions - Disclosure of Sensitivity Analysis for Actuarial Assumptions (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |||
Actuarial assumption of discount rates if rates decrease by 25% | 3.05% | ||
Discount rate | 3.30% | 3.69% | 0.98% |
Actuarial assumption of discount rates if rates increase by 25% | 3.55% | ||
Actuarial assumption of discount rates | |||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |||
Net defined benefit liability if actuarial assumption of discount rates decrease by 25% | € 337 | ||
Net defined benefit liability | 323 | ||
Net defined benefit liability if actuarial assumption of discount rates increase by 25% | € 309 |
Financial liabilities - Disclos
Financial liabilities - Disclosure of Changes in Financial Liabilities (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Changes In Financial Liabilities [Line Items] | ||
Current financial liabilities | € 5,022 | € 4,560 |
Non-current financial liabilities | 45,543 | 48,608 |
Total financial liabilities | 50,565 | 53,169 |
Lease liabilities | ||
Disclosure Of Changes In Financial Liabilities [Line Items] | ||
Current financial liabilities | 1,199 | 962 |
Non-current financial liabilities | 3,883 | 4,568 |
Repayable BPI loan advances | ||
Disclosure Of Changes In Financial Liabilities [Line Items] | ||
Current financial liabilities | 592 | 500 |
Non-current financial liabilities | 1,872 | 2,258 |
PGE Loans | Long-term borrowings | ||
Disclosure Of Changes In Financial Liabilities [Line Items] | ||
Current financial liabilities | 2,583 | 2,632 |
Non-current financial liabilities | 4,028 | 6,495 |
EIB Loan | ||
Disclosure Of Changes In Financial Liabilities [Line Items] | ||
Non-current financial liabilities | 19,200 | 27,500 |
EIB Loan | Long-term borrowings | ||
Disclosure Of Changes In Financial Liabilities [Line Items] | ||
Current financial liabilities | 649 | 467 |
Non-current financial liabilities | € 35,761 | € 35,287 |
Financial liabilities - Additio
Financial liabilities - Additional Information (Details) € in Thousands | 1 Months Ended | 2 Months Ended | 12 Months Ended | |||||||||||||
Oct. 18, 2022 EUR (€) | Jan. 01, 2021 | Jul. 10, 2020 EUR (€) quarterly_instalment | Jun. 30, 2020 EUR (€) | Mar. 31, 2019 EUR (€) | Oct. 31, 2018 EUR (€) | Jul. 31, 2018 EUR (€) tranche | Dec. 31, 2022 EUR (€) | Dec. 31, 2023 EUR (€) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | Dec. 31, 2018 EUR (€) | Oct. 18, 2023 | Oct. 12, 2023 EUR (€) | Jun. 30, 2022 | Jun. 30, 2021 EUR (€) | |
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Increase in loans and conditional advances | € 150 | € 0 | € 0 | |||||||||||||
Loans repayments | 2,971 | 3,642 | 2,833 | |||||||||||||
Non-current financial liabilities | € 48,608 | 45,543 | 48,608 | |||||||||||||
impact of determining the initial fair value of the debt and the impact of discounting | 1,400 | |||||||||||||||
Interest payable | € 5,400 | |||||||||||||||
Discount rate used in current estimate of value in use | 21.30% | |||||||||||||||
Catch-up adjustment to the debt through profit and loss | € 300 | |||||||||||||||
Financial liability extinguished amount | 27,500 | |||||||||||||||
Fair value of financial liability | 34,400 | |||||||||||||||
Conditional Advances and Loans from Government and Public Authorities | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Impact of accretion and discounting | € 289 | (6,882) | ||||||||||||||
Top of Range | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Borrowings, fixed flows rate | 16.09% | |||||||||||||||
Bottom of Range | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Borrowings, fixed flows rate | 14.95% | |||||||||||||||
EIB fixed rate loan | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Number of tranches | tranche | 3 | |||||||||||||||
Increase in loans and conditional advances | € 14,000 | € 16,000 | ||||||||||||||
Gains (losses) on financial liabilities at fair value through profit or loss | € 6,900 | |||||||||||||||
Financial liabilities, carrying amount immediately after initial application of IFRS 9 | 27,500 | |||||||||||||||
Financial liabilities, at fair value | € 34,400 | € 34,400 | ||||||||||||||
Royalties agreement, period | 6 years | 6 years | 6 years | |||||||||||||
Milestones payment | 800 | 20,000 | ||||||||||||||
Accrued interest | € 5,400 | € 5,400 | ||||||||||||||
Milestone payment | € 20,000 | 20,000 | ||||||||||||||
Borrowings, cumulative milestone prepayment amount | € 100,000 | |||||||||||||||
Loans repayments | 800 | |||||||||||||||
Non-current financial liabilities | 27,500 | 19,200 | 27,500 | |||||||||||||
Weighted average cost of capital | 30% | |||||||||||||||
Borrowings, interest rate | 21.30% | 5% | 6% | |||||||||||||
Debt extinguished | 6,900 | |||||||||||||||
Impact of accretion and discounting | (300) | |||||||||||||||
Expected future royalty payments | 32,400 | 36,600 | 32,400 | 3,400 | ||||||||||||
Borrowings | 58,100 | 89,800 | 58,100 | |||||||||||||
Estimated royalty payments | € 36,600 | |||||||||||||||
Forecasted sales period | 6 years | |||||||||||||||
EIB fixed rate loan | Principal And Fixed Rate | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Borrowings | € 33,900 | |||||||||||||||
EIB fixed rate loan | Milestone Payment | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Borrowings | 19,200 | |||||||||||||||
EIB fixed rate loan | Fixed interest rate | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Interest payable | 12,800 | 6,600 | 12,800 | |||||||||||||
Interest expense on borrowings | 2,300 | € 1,800 | ||||||||||||||
EIB fixed rate loan | Variable interest rate | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Borrowings | € 32,400 | 32,400 | ||||||||||||||
EIB fixed rate loan | Conditional Advances and Loans from Government and Public Authorities | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Impact of accretion and discounting | 285 | € (6,855) | ||||||||||||||
EIB fixed rate loan | Top of Range | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Notional amount | € 40,000 | |||||||||||||||
Bpifrance “PGE” | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Notional amount | € 5,000 | |||||||||||||||
Increase in loans and conditional advances | € 5,000 | |||||||||||||||
Loans repayments | € 1,400 | |||||||||||||||
Borrowings, interest rate | 2.25% | 1.36% | 1.36% | 1.36% | ||||||||||||
Borrowing, initial period bearing no interest | 12 months | |||||||||||||||
Borrowing, maturity | 6 years | |||||||||||||||
Percentage of state-guaranteed loan | 0.90 | |||||||||||||||
Borrowing, subsequent period bearing interest | 5 years | |||||||||||||||
Borrowing, guarantee fee | 1.61% | 0.25% | 0.25% | 0.25% | ||||||||||||
Number of quarterly instalments | quarterly_instalment | 20 | |||||||||||||||
HSBC “PGE” | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Notional amount | € 5,000 | |||||||||||||||
Loans repayments | € 1,300 | |||||||||||||||
Borrowings, interest rate | 0.31% | |||||||||||||||
Borrowing, initial period bearing no interest | 12 months | |||||||||||||||
Borrowing, deferment period | 1 year | |||||||||||||||
Borrowing, guarantee fee | 0.25% | 0.25% | 0.25% | |||||||||||||
Milestones amount paid in advance | € 800 | |||||||||||||||
HSBC “PGE” | Top of Range | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Borrowing, deferment period | 5 years | |||||||||||||||
HSBC “PGE” | Bottom of Range | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Borrowing, deferment period | 1 year | |||||||||||||||
Banque Publique d’Investissement | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Advances, interest rate | 1.56% | |||||||||||||||
Advances received | € 2,100 | |||||||||||||||
Bpifrance | ||||||||||||||||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | ||||||||||||||||
Advances received | € 350 | |||||||||||||||
Authorized amount to be advanced | 500 | |||||||||||||||
Advances, outstanding amount | € 150 |
Financial liabilities - Discl_2
Financial liabilities - Disclosure of Commercialization Date Sensitivity Analysis (Details) € in Thousands | Dec. 31, 2023 EUR (€) |
Based date | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | € 36,409 |
P&L impact | 0 |
Global impact | 0 |
Based date | Fair value | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | 38,699 |
P&L impact | 0 |
Global impact | 0 |
1 year after | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | 33,982 |
P&L impact | 2,427 |
Global impact | 2,427 |
1 year after | Fair value | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | 35,749 |
P&L impact | 2,950 |
Global impact | € 2,950 |
Financial liabilities - Discl_3
Financial liabilities - Disclosure of Cumulated Net Sales Sensitivity Analysis (Details) € in Thousands | Dec. 31, 2023 EUR (€) |
Net sales -10% | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | € 36,718 |
P&L impact | 309 |
Global impact | 309 |
Net sales -10% | Fair value | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | 38,906 |
P&L impact | 207 |
Global impact | 207 |
Based cumulated net sales | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | 36,409 |
P&L impact | 0 |
Global impact | 0 |
Based cumulated net sales | Fair value | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | 38,699 |
P&L impact | 0 |
Global impact | 0 |
Net sales +10% | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | 36,100 |
P&L impact | (309) |
Global impact | (309) |
Net sales +10% | Fair value | |
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | |
Total debt at amortized cost | 38,492 |
P&L impact | (207) |
Global impact | € (207) |
Financial liabilities - Discl_4
Financial liabilities - Disclosure of Detailed Information about Conditional Advances and Loans From Government and Public Authorities (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Conditional Advances and Loans from Government and Public Authorities | |||
Changes in liabilities arising from financing activities [abstract] | |||
Liabilities arising from financing activities at beginning of period | € 38,512 | € 29,433 | |
Principal received | 150 | 0 | |
Impact of discounting and accretion | (289) | 6,882 | |
Accumulated fixed interest expense accrual | 2,419 | 1,690 | |
Accumulated variable interest expense accrual | 5,195 | 3,740 | |
Repayment | (7,114) | (3,233) | |
Liabilities arising from financing activities at end of period | 38,873 | 38,512 | € 29,433 |
Bpifrance advance | Conditional Advances and Loans from Government and Public Authorities | |||
Changes in liabilities arising from financing activities [abstract] | |||
Liabilities arising from financing activities at beginning of period | 2,316 | 2,266 | |
Principal received | 0 | 0 | |
Impact of discounting and accretion | 16 | 3 | |
Accumulated fixed interest expense accrual | 34 | 47 | |
Accumulated variable interest expense accrual | 0 | 0 | |
Repayment | (300) | 0 | |
Liabilities arising from financing activities at end of period | 2,066 | 2,316 | 2,266 |
Interest-free Bpifrance loan | Conditional Advances and Loans from Government and Public Authorities | |||
Changes in liabilities arising from financing activities [abstract] | |||
Liabilities arising from financing activities at beginning of period | 125 | 493 | |
Principal received | 0 | 0 | |
Impact of discounting and accretion | 0 | 7 | |
Accumulated fixed interest expense accrual | 0 | 0 | |
Accumulated variable interest expense accrual | 0 | 0 | |
Repayment | (125) | (375) | |
Liabilities arising from financing activities at end of period | 0 | 125 | 493 |
EIB Loan | |||
Changes in liabilities arising from financing activities [abstract] | |||
Impact of discounting and accretion | 300 | ||
Accumulated variable interest expense accrual | 4,200 | ||
EIB Loan | Conditional Advances and Loans from Government and Public Authorities | |||
Changes in liabilities arising from financing activities [abstract] | |||
Liabilities arising from financing activities at beginning of period | 35,754 | 26,374 | |
Principal received | 0 | 0 | |
Impact of discounting and accretion | (285) | 6,855 | |
Accumulated fixed interest expense accrual | 2,385 | 1,643 | |
Accumulated variable interest expense accrual | 5,195 | 3,740 | |
Repayment | (6,639) | (2,858) | |
Liabilities arising from financing activities at end of period | 36,409 | 35,754 | 26,374 |
Curadigm Bpifrance advance | Conditional Advances and Loans from Government and Public Authorities | |||
Changes in liabilities arising from financing activities [abstract] | |||
Liabilities arising from financing activities at beginning of period | 317 | 300 | |
Principal received | 150 | 0 | |
Impact of discounting and accretion | (20) | 17 | |
Accumulated fixed interest expense accrual | 0 | 0 | |
Accumulated variable interest expense accrual | 0 | 0 | |
Repayment | (50) | 0 | |
Liabilities arising from financing activities at end of period | € 397 | € 317 | € 300 |
Financial liabilities - Discl_5
Financial liabilities - Disclosure of Detailed Information about Bank Loan (Details) - EUR (€) € in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Jul. 10, 2020 | |
Long-term borrowings | ||||
Summary Of Conditional Advances, Banks Loans And Loans [Line Items] | ||||
Liabilities arising from financing activities at beginning of period | € 9,127 | € 10,068 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Principal received | 0 | 0 | ||
Impact of discounting and accretion | (15) | (8) | ||
Accumulated fixed interest expense accrual | 131 | 153 | ||
Repayment | (2,632) | (1,086) | ||
Liabilities arising from financing activities at end of period | € 6,612 | € 9,127 | ||
HSBC “PGE” | ||||
Changes in liabilities arising from financing activities [abstract] | ||||
Borrowing, guarantee fee | 0.25% | 0.25% | ||
Borrowings, interest rate | 0.31% | |||
HSBC “PGE” | Long-term borrowings | ||||
Summary Of Conditional Advances, Banks Loans And Loans [Line Items] | ||||
Liabilities arising from financing activities at beginning of period | € 4,409 | € 5,030 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Principal received | 0 | 0 | ||
Impact of discounting and accretion | (9) | (1) | ||
Accumulated fixed interest expense accrual | 41 | 42 | ||
Repayment | (1,287) | (661) | ||
Liabilities arising from financing activities at end of period | € 3,155 | € 4,409 | ||
Bpifrance “PGE” | ||||
Changes in liabilities arising from financing activities [abstract] | ||||
Borrowing, guarantee fee | 0.25% | 0.25% | 1.61% | |
Borrowings, interest rate | 1.36% | 1.36% | 2.25% | |
Bpifrance “PGE” | Long-term borrowings | ||||
Summary Of Conditional Advances, Banks Loans And Loans [Line Items] | ||||
Liabilities arising from financing activities at beginning of period | € 4,717 | € 5,038 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Principal received | 0 | 0 | ||
Impact of discounting and accretion | (6) | (7) | ||
Accumulated fixed interest expense accrual | 90 | 111 | ||
Repayment | (1,345) | (425) | ||
Liabilities arising from financing activities at end of period | € 3,457 | € 4,717 |
Financial liabilities - Discl_6
Financial liabilities - Disclosure of Reconciliation of Changes in Lease Liabilities (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Changes in liabilities arising from financing activities [abstract] | |||
New lease contracts | € 0 | € 0 | |
Fixed interest expense | 203 | 238 | € 288 |
Lease liabilities | |||
Changes in liabilities arising from financing activities [abstract] | |||
Liabilities arising from financing activities at beginning of period | 5,530 | 6,519 | |
Indexation effect on current lease commitment | 376 | 252 | |
Impact of discounting and accretion | (31) | (26) | |
Fixed interest expense | 203 | 238 | |
Repayment of lease | (996) | (1,331) | |
Early termination of lease contracts | 0 | (122) | |
Liabilities arising from financing activities at end of period | € 5,081 | € 5,530 | € 6,519 |
Financial liabilities - Discl_7
Financial liabilities - Disclosure Of Changes in liabilities arising from financing activities (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Interest paid | € (6,978) | € (915) | € (1,132) |
Payment of lease liabilities | (794) | (1,093) | (909) |
Cash flows from financing activities | 46,771 | (5,651) | (5,180) |
Liabilities Related To Financing Activities | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 53,169 | 46,020 | |
Principal received | 150 | 252 | |
Decrease in loans and conditional advances | (2,971) | (3,642) | |
Interest paid | (6,775) | (677) | |
Interest paid (IFRS 16) | (203) | 0 | |
Payment of lease liabilities | (793) | (1,331) | |
Early termination of lease contracts | (122) | ||
Cash flows from financing activities | (10,592) | (5,520) | |
Indexation effect on current lease commitment | 376 | 0 | |
Impact of discounting and catch-up | (334) | 6,848 | |
Accumulated fixed interest expense accrual | 2,550 | 2,081 | |
Accumulated variable interest expense accrual | 5,396 | 3,740 | |
Non-cash from financing activities | 7,988 | 12,669 | |
Liabilities arising from financing activities at end of period | 50,565 | 53,169 | 46,020 |
Lease liabilities | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 5,530 | 6,519 | |
Principal received | 252 | ||
Interest paid (IFRS 16) | (203) | 0 | |
Payment of lease liabilities | (793) | (1,331) | |
Early termination of lease contracts | 0 | (122) | |
Cash flows from financing activities | (996) | (1,079) | |
Indexation effect on current lease commitment | 376 | 0 | |
Impact of discounting and catch-up | (31) | (26) | |
Accumulated fixed interest expense accrual | 238 | ||
Accumulated variable interest expense accrual | 201 | ||
Non-cash from financing activities | 547 | 212 | |
Liabilities arising from financing activities at end of period | 5,081 | 5,530 | 6,519 |
Long-term borrowings | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 9,127 | 10,068 | |
Principal received | 0 | 0 | |
Accumulated fixed interest expense accrual | 131 | 153 | |
Liabilities arising from financing activities at end of period | 6,612 | 9,127 | 10,068 |
Bpifrance advance | Long-term borrowings | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 2,316 | 2,266 | |
Decrease in loans and conditional advances | (300) | ||
Cash flows from financing activities | (300) | 0 | |
Impact of discounting and catch-up | 16 | 3 | |
Accumulated fixed interest expense accrual | 34 | 47 | |
Non-cash from financing activities | 50 | 50 | |
Liabilities arising from financing activities at end of period | 2,066 | 2,316 | 2,266 |
Interest-free Bpifrance loan | Long-term borrowings | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 125 | 493 | |
Decrease in loans and conditional advances | (125) | (375) | |
Cash flows from financing activities | (125) | (375) | |
Impact of discounting and catch-up | 7 | ||
Liabilities arising from financing activities at end of period | 0 | 125 | 493 |
Curadigm Bpifrance advance | Long-term borrowings | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 317 | 300 | |
Principal received | 150 | ||
Decrease in loans and conditional advances | (50) | ||
Cash flows from financing activities | 100 | 0 | |
Impact of discounting and catch-up | (20) | ||
Non-cash from financing activities | (20) | 0 | |
Liabilities arising from financing activities at end of period | 397 | 317 | 300 |
EIB fixed rate loan | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Accumulated variable interest expense accrual | 4,200 | ||
EIB fixed rate loan | Long-term borrowings | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 35,754 | 26,374 | |
Decrease in loans and conditional advances | (2,333) | ||
Interest paid | (6,639) | (525) | |
Cash flows from financing activities | (6,639) | (2,858) | |
Impact of discounting and catch-up | (285) | 6,855 | |
Accumulated fixed interest expense accrual | 2,385 | 1,643 | |
Accumulated variable interest expense accrual | 5,195 | 3,740 | |
Non-cash from financing activities | 7,295 | 12,238 | |
Liabilities arising from financing activities at end of period | 36,409 | 35,754 | 26,374 |
HSBC “PGE” | Long-term borrowings | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 4,409 | 5,030 | |
Principal received | 0 | 0 | |
Decrease in loans and conditional advances | (1,246) | (622) | |
Interest paid | (41) | (39) | |
Cash flows from financing activities | (1,287) | (661) | |
Impact of discounting and catch-up | (9) | (1) | |
Accumulated fixed interest expense accrual | 41 | 42 | |
Non-cash from financing activities | 32 | 41 | |
Liabilities arising from financing activities at end of period | 3,155 | 4,409 | 5,030 |
Bpifrance “PGE” | Long-term borrowings | |||
Disclosure Of Detailed Information About Financial Liabilities [Line Items] | |||
Liabilities arising from financing activities at beginning of period | 4,717 | 5,038 | |
Principal received | 0 | 0 | |
Decrease in loans and conditional advances | (1,250) | (313) | |
Interest paid | (95) | (113) | |
Cash flows from financing activities | (1,345) | (425) | |
Impact of discounting and catch-up | (6) | 7 | |
Accumulated fixed interest expense accrual | 90 | 111 | |
Non-cash from financing activities | 84 | 104 | |
Liabilities arising from financing activities at end of period | € 3,457 | € 4,717 | € 5,038 |
Financial liabilities - Discl_8
Financial liabilities - Disclosure of Maturity Analysis for Advances Loans and Lease Liabilities (Details) € in Thousands | 1 Months Ended | 12 Months Ended | ||
Jul. 10, 2020 | Jun. 30, 2020 | Dec. 31, 2023 EUR (€) | Dec. 31, 2022 EUR (€) borrowing | |
Less than 1 year | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Total | € 5,113 | € 4,560 | ||
Between 1 and 3 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Total | 28,358 | 16,584 | ||
Between 3 and 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Total | 19,274 | 34,579 | ||
More than 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Total | 51,867 | 20,840 | ||
Bpifrance | Less than 1 year | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 500 | 300 | ||
Bpifrance | Between 1 and 3 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 1,637 | 1,300 | ||
Bpifrance | Between 3 and 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 837 | ||
Bpifrance | More than 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 0 | ||
Interest-free Bpifrance loan | Less than 1 year | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 125 | ||
Interest-free Bpifrance loan | Between 1 and 3 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 0 | ||
Interest-free Bpifrance loan | Between 3 and 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 0 | ||
Interest-free Bpifrance loan | More than 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 0 | ||
Curadigm interest-free Bpifrance advance | Less than 1 year | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 100 | 75 | ||
Curadigm interest-free Bpifrance advance | Between 1 and 3 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 200 | 200 | ||
Curadigm interest-free Bpifrance advance | Between 3 and 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 175 | 75 | ||
Curadigm interest-free Bpifrance advance | More than 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 0 | ||
HSBC "PGE" | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowing, deferment period | 1 year | |||
HSBC "PGE" | Less than 1 year | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 1,285 | 1,287 | ||
HSBC "PGE" | Between 1 and 3 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 1,904 | 2,557 | ||
HSBC "PGE" | Between 3 and 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 631 | ||
HSBC "PGE" | More than 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 0 | ||
Bpifrance "PGE" | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowing, maturity | 6 years | |||
Bpifrance "PGE" | Less than 1 year | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 1,317 | 1,345 | ||
Bpifrance "PGE" | Between 1 and 3 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 2,237 | 2,605 | ||
Bpifrance "PGE" | Between 3 and 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 948 | ||
Bpifrance "PGE" | More than 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 0 | 0 | ||
EIB fixed rate loan | Less than 1 year | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 692 | 467 | ||
EIB fixed rate loan | Between 1 and 3 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 19,946 | 7,630 | ||
EIB fixed rate loan | Between 3 and 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 17,872 | 30,184 | ||
EIB fixed rate loan | More than 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowings | 51,246 | 19,869 | ||
Lease liabilities | Less than 1 year | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Lease liabilities | 1,219 | 962 | ||
Lease liabilities | Between 1 and 3 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Lease liabilities | 2,434 | 2,292 | ||
Lease liabilities | Between 3 and 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Lease liabilities | 1,227 | 1,904 | ||
Lease liabilities | More than 5 years | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Lease liabilities | € 621 | € 971 | ||
HSBC "PGE" and Bpifrance "PGE" | ||||
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items] | ||||
Borrowing, number of PGE | borrowing | 2 | |||
Borrowing, maturity | 5 years | |||
Borrowing, deferment period | 1 year |
Trade payables and other curr_3
Trade payables and other current liabilities - Disclosure of Trade and Other Payables (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Fixed asset payables | € 173 | € 228 |
Accrued expenses - clinical trials | 11,369 | 5,394 |
Trade payables & other accruals | 6,695 | 3,999 |
Total trade and other payables | € 18,237 | € 9,621 |
Trade payables and other curr_4
Trade payables and other current liabilities - Additional Information (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Trade Payables and Other Current Liabilities [Line Items] | |||
Fixed assets payables | € 200 | ||
Increase in accrued expenses | 6,000 | ||
Accrued expenses - clinical trials | 11,369 | € 5,394 | |
Increase / (Decrease) in trade and other payables | 8,675 | 2,905 | € (281) |
Trade payables & other accruals | 6,695 | 3,999 | |
Increase in payroll tax and other payroll liabilities | 700 | ||
Payroll tax and other payroll liabilities | 7,500 | 6,800 | |
Increase in bonus accrual | 1,100 | ||
Decrease in social payables | 400 | ||
Increase in contract liability | 1,600 | ||
Current contract liabilities | 18,100 | 16,518 | |
LianBio, NBTXR3 | |||
Disclosure of Trade Payables and Other Current Liabilities [Line Items] | |||
Current contract liabilities | 16,500 | ||
1100 Study | |||
Disclosure of Trade Payables and Other Current Liabilities [Line Items] | |||
Accrued expenses - clinical trials | 2,900 | 1,000 | |
NONORAY-312 | |||
Disclosure of Trade Payables and Other Current Liabilities [Line Items] | |||
Accrued expenses - clinical trials | 7,100 | 3,900 | |
Increase / (Decrease) in trade and other payables | 2,700 | ||
Trade payables & other accruals | € 2,600 | € 300 |
Trade payables and other curr_5
Trade payables and other current liabilities - Disclosure of Other Current Liabilities (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Tax liabilities | € 451 | € 358 |
Payroll tax and other payroll liabilities | 6,928 | 6,237 |
Other payables | 247 | 260 |
Other current liabilities | € 7,627 | € 6,855 |
Trade payables and other curr_6
Trade payables and other current liabilities - Disclosure of Current Deferred Income and Contract Liabilities (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Deferred income | € 128 | € 55 |
Current contract liabilities | 18,100 | 16,518 |
Deferred income and current contract liabilities | € 18,228 | € 16,573 |
Financial instruments include_3
Financial instruments included in the statement of financial position and impact on income - Disclosure of Non-Current Financial Assets and Financial Liabilities (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | € 94,586 | € 41,780 |
Total financial assets, at fair value | 94,586 | 41,780 |
Total financial liabilities | 68,802 | 62,789 |
Total financial liabilities, at fair value | 71,091 | 62,789 |
Financial liabilities at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial liabilities | 68,802 | 62,789 |
Non-current financial liabilities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial liabilities | 45,543 | 48,608 |
Total financial liabilities, at fair value | 47,821 | 48,608 |
Non-current financial liabilities | Financial liabilities at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial liabilities | 45,543 | 48,608 |
Current financial liabilities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial liabilities | 5,022 | 4,560 |
Total financial liabilities, at fair value | 5,033 | 4,560 |
Current financial liabilities | Financial liabilities at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial liabilities | 5,022 | 4,560 |
Trade payables and other payables | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial liabilities | 18,237 | 9,621 |
Total financial liabilities, at fair value | 18,237 | 9,621 |
Trade payables and other payables | Financial liabilities at amortised cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial liabilities | 18,237 | 9,621 |
Non-current financial assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | 299 | 291 |
Total financial assets, at fair value | 299 | 291 |
Trade receivables | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | 19,004 | 101 |
Total financial assets, at fair value | 19,004 | 101 |
Cash and cash equivalents | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | 75,283 | 41,388 |
Total financial assets, at fair value | 75,283 | 41,388 |
Financial assets carried at fair value through profit or loss | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | 0 | 0 |
Financial assets carried at fair value through profit or loss | Non-current financial assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | 0 | 0 |
Assets and liabilities carried at amortized cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | 94,586 | 41,780 |
Assets and liabilities carried at amortized cost | Non-current financial assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | 299 | 291 |
Assets and liabilities carried at amortized cost | Trade receivables | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | 19,004 | 101 |
Assets and liabilities carried at amortized cost | Cash and cash equivalents | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total financial assets | € 75,283 | € 41,388 |
Financial instruments include_4
Financial instruments included in the statement of financial position and impact on income - Additional Information (Details) - EUR (€) € in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about financial instruments [abstract] | ||||
Cash and cash equivalents | € 75,283 | € 41,388 | € 83,921 | € 119,151 |
Financial instruments include_5
Financial instruments included in the statement of financial position and impact on income - Disclosure of Effect of Changes in Exchange Rates (Details) - Currency risk - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about financial instruments [line items] | ||
Change in contract assets due to a 10% increase in exchange rate | € 187 | € 0 |
Change in contract assets due to a 10% decrease in exchange rate | (187) | 0 |
Change in contract liabilities due to a 10% increase in exchange rate | 1,638 | 1,549 |
Change in contract liabilities due to a 10% decrease in exchange rate | (1,638) | (1,549) |
Change in net income due to a 10% increase in exchange rate | 22 | 48 |
Change in net income due to a 10% decrease in exchange rate | (22) | (48) |
Change in equity due to a 10% increase in exchange rate | (22) | (45) |
Change in equity due to a 10% decrease in exchange rate | 22 | 45 |
USD / Euro exchange rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Change in contract assets due to a 10% increase in exchange rate | 187 | 0 |
Change in contract assets due to a 10% decrease in exchange rate | (187) | 0 |
Change in contract liabilities due to a 10% increase in exchange rate | 1,638 | 1,549 |
Change in contract liabilities due to a 10% decrease in exchange rate | (1,638) | (1,549) |
Change in net income due to a 10% increase in exchange rate | 22 | 48 |
Change in net income due to a 10% decrease in exchange rate | (22) | (48) |
Change in equity due to a 10% increase in exchange rate | (22) | (45) |
Change in equity due to a 10% decrease in exchange rate | € 22 | € 45 |
Revenues and other income - Add
Revenues and other income - Additional Information (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||||
Dec. 04, 2023 USD ($) | Nov. 07, 2023 USD ($) | Jul. 07, 2023 USD ($) | Aug. 31, 2023 EUR (€) | Aug. 31, 2023 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2023 EUR (€) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | Dec. 31, 2021 USD ($) | Dec. 31, 2023 USD ($) | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Revenue | € 36,207,000 | € 4,776,000 | € 2,647,000 | |||||||||
Current contract liabilities | 18,100,000 | 16,518,000 | ||||||||||
Current contract assets | 2,062,000 | 0 | ||||||||||
Capital increases | 60,154,000 | 0 | 0 | |||||||||
Other income | 6,150,000 | 4,776,000 | 2,637,000 | |||||||||
Revenues | € 30,058,000 | 0 | 10,000 | |||||||||
Research tax credit utilization period | 3 years | 3 years | ||||||||||
Trade receivables | € 905,000 | 101,000 | ||||||||||
Increase in research tax credit | 4,100,000 | 2,500,000 | ||||||||||
Subsidies | 229,000 | 135,000 | 126,000 | |||||||||
Bpifrance “PGE” | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Subsidies | 229,000 | 135,000 | 126,000 | |||||||||
Services | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Revenues | 29,750,000 | 0 | 5,000 | |||||||||
Other sales | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Revenues | 0 | € 5,000 | ||||||||||
Janssen | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Collaboration agreement, upfront payment license fee | $ 30,000 | € 27,500,000 | $ 30,000 | |||||||||
Collaboration agreement, success-based payment | $ | 1,800,000 | |||||||||||
Revenue | 29,600,000 | $ 32,300 | ||||||||||
Revenue related to license grant | 27,500,000 | 30,000 | ||||||||||
Current contract liabilities | 16,000,000 | $ 17,700 | ||||||||||
Contract liability constrained transaction price | $ | 50,000 | |||||||||||
Gross contract assets | $ | 20,000 | |||||||||||
Current contract assets | 2,100,000 | 2,300 | ||||||||||
Capital increases | $ | 30,000 | |||||||||||
Revenues | (1,600,000) | |||||||||||
Trade receivables | $ | $ 20,000 | |||||||||||
Janssen | Services | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Revenues | 29,600,000 | |||||||||||
Janssen | Technology transfer | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Revenues | 100,000 | |||||||||||
Janssen | Other sales | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Revenues | 308,000 | |||||||||||
Janssen | Tranche one | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Capital increases | $ | 5,000 | |||||||||||
Janssen | Tranche two | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Capital increases | $ | $ 4,800 | $ 20,200 | $ 25,000 | |||||||||
Janssen | Top of Range | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Potential development and commercial milestones payments | $ | 650,000 | |||||||||||
Collaboration agreement, compensation per indication | $ | 220,000 | |||||||||||
Janssen | Top of Range | Nanobiotix Corp. | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Collaboration agreement, compensation per indication | $ | $ 220,000 | |||||||||||
LianBio, NBTXR3 | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Current contract liabilities | € 16,500,000 | |||||||||||
Minimum threshold to provide additional know-how to third party under collaboration agreement | 80% | 80% | ||||||||||
Collaboration agreement, amount collected | € 1,600,000 | |||||||||||
Upfront payment received | $ | $ 20,000 | $ 20,000 | ||||||||||
Trade receivables | 300,000 | |||||||||||
Supply Services | 2,000,000 | € 500,000 | ||||||||||
LianBio, NBTXR3 | Maximum | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Potential development and commercial milestones payments | $ | $ 205,000 | |||||||||||
LianBio, NBTXR3 And Cetuximab | ||||||||||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||||||||||||
Collaboration agreement, amount collected | 334,300 | |||||||||||
Other income | € 1,600,000 |
Revenues and other income - Sch
Revenues and other income - Schedule of Revenues and Other Income (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenues | € 30,058 | € 0 | € 10 |
Research tax credit | 3,939 | 4,091 | 2,490 |
Subsidies | 229 | 135 | 126 |
Other | 1,981 | 550 | 21 |
Other income | 6,150 | 4,776 | 2,637 |
Total revenues and other income | 36,207 | 4,776 | 2,647 |
Services | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenues | € 29,750 | 0 | 5 |
Other sales | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenues | € 0 | € 5 |
Operating expenses - Disclosure
Operating expenses - Disclosure of Research And Development Expense (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Analysis of income and expense [abstract] | |||
Purchases, sub-contracting and other expenses | € (26,380) | € (20,415) | € (19,562) |
Payroll costs (including share-based payments) | (10,721) | (10,868) | (9,605) |
Depreciation, amortization, and provision expenses | (1,295) | (1,353) | (1,211) |
Research and development expenses | € (38,396) | € (32,636) | € (30,378) |
Operating expenses - Research a
Operating expenses - Research and Development, Additional Information (Details) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 EUR (€) employee | Dec. 31, 2022 EUR (€) employee | Dec. 31, 2021 EUR (€) employee | |
Disclosure Of Operating Expenses [Line Items] | |||
Increase/ decrease in employee benefit expense | € (100) | € 1,300 | |
Increase (decrease) in employee benefit expense, percentage | (1.40%) | 13% | |
End of period headcount) (employee) | employee | 102 | 102 | 100 |
Increase (decrease) in number of employees | employee | 2 | ||
Share-based payments | € 3,222 | € 3,174 | € 3,201 |
R&D | |||
Disclosure Of Operating Expenses [Line Items] | |||
Increase in purchases, sub-contracting and other expenses | € 6,000 | ||
Increase in purchases, sub-contracting and other expenses, percentage | 29.20% | ||
Research And Development Expense | |||
Disclosure Of Operating Expenses [Line Items] | |||
Increase in purchases, sub-contracting and other expenses | € 900 | ||
Increase in purchases, sub-contracting and other expenses, percentage | 4.40% | ||
End of period headcount) (employee) | employee | 76 | 74 | 73 |
Increase (decrease) in number of employees | employee | 2 | 1 | 7 |
Share-based payments | € 400 | € 300 | € 700 |
Operating expenses - Disclosu_2
Operating expenses - Disclosure of Selling, General And Administrative Expenses (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Analysis of income and expense [abstract] | |||
Purchases, fees and other expenses | € (9,889) | € (7,792) | € (9,638) |
Payroll costs (including share-based payments) | (11,772) | (9,688) | (9,379) |
Depreciation, amortization and provision expenses | (387) | (378) | (417) |
Total SG&A expenses | € (22,049) | € (17,857) | € (19,434) |
Operating expenses - Selling, G
Operating expenses - Selling, General and Administrative, Additional Information (Details) € in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | |
Aug. 31, 2023 USD ($) | Dec. 31, 2023 EUR (€) | Dec. 31, 2022 EUR (€) | |
Disclosure Of Operating Expenses [Line Items] | |||
Advisory fees | $ 1.5 | € 1.4 | |
Janssen | |||
Disclosure Of Operating Expenses [Line Items] | |||
Legal fees | 0.5 | ||
JJDC | |||
Disclosure Of Operating Expenses [Line Items] | |||
Legal fees | 0.3 | ||
Selling, general and administrative expense | |||
Disclosure Of Operating Expenses [Line Items] | |||
Increase (decrease) in rent, fees, and other expenses | € 2.1 | € (1.8) | |
Increase (decrease) in rent, fees, and other expenses, percentage | 27% | (19.20%) |
Operating expenses - Payroll Co
Operating expenses - Payroll Costs, Additional Information (Details) € in Thousands | 12 Months Ended | |||
Dec. 31, 2023 EUR (€) employee | Dec. 31, 2022 EUR (€) employee | Dec. 31, 2021 EUR (€) employee | Dec. 31, 2020 employee | |
Disclosure Of Operating Expenses [Line Items] | ||||
Increase/ decrease in employee benefit expense | € (100) | € 1,300 | ||
Increase (decrease) in employee benefit expense, percentage | (1.40%) | 13% | ||
End of period headcount) (employee) | employee | 102 | 102 | 100 | |
Share-based payments | € 3,222 | € 3,174 | € 3,201 | |
Short-term employee benefits expense | € 19,200 | 17,300 | € 15,700 | |
Increase in number of employees | employee | 2 | |||
Selling, general and administrative expense | ||||
Disclosure Of Operating Expenses [Line Items] | ||||
Increase/ decrease in employee benefit expense | € 2,100 | € 300 | ||
Increase (decrease) in employee benefit expense, percentage | 21.50% | 3.30% | ||
End of period headcount) (employee) | employee | 28 | 27 | 24 | |
Share-based payments | € 2,900 | € 2,800 | € 2,500 |
Operating expenses - Disclosu_3
Operating expenses - Disclosure of Payroll Costs (Details) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 EUR (€) employee | Dec. 31, 2022 EUR (€) employee | Dec. 31, 2021 EUR (€) employee | |
Analysis of income and expense [abstract] | |||
Wages and salaries | € (13,621) | € (12,345) | € (11,391) |
Payroll taxes | (5,585) | (4,963) | (4,308) |
Share-based payments | (3,222) | (3,174) | (3,201) |
Retirement benefit obligations | (65) | (75) | (84) |
Total payroll costs | € (22,493) | € (20,556) | € (18,984) |
Average headcount (employee) | employee | 100 | 100 | 96 |
End of period headcount) (employee) | employee | 102 | 102 | 100 |
Operating expenses - Disclosu_4
Operating expenses - Disclosure of Depreciation, Amortization And Provision Expenses (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Operating Expenses [Line Items] | |||
Amortization expense of intangible assets | € (1) | € (3) | € (45) |
Amortization expense of tangible assets | (1,517) | (1,497) | (1,515) |
Utilization of provision for disputes | 0 | 0 | 0 |
Provision for charges | (163) | (230) | (68) |
Reversal of provision for disputes | 0 | 0 | |
Total depreciation, amortization and provision expenses (except IAS 19) | (1,682) | (1,730) | (1,628) |
Provision for retirement benefit obligations (IAS 19) | (65) | (75) | (84) |
Total Provision for retirement benefit obligations (IAS 19) | (65) | (75) | (84) |
Depreciation, Amortization And Provision Expenses | (1,747) | (1,805) | (1,712) |
R&D | |||
Disclosure Of Operating Expenses [Line Items] | |||
Amortization expense of intangible assets | (1) | (2) | (34) |
Amortization expense of tangible assets | (1,247) | (1,164) | (1,109) |
Utilization of provision for disputes | 0 | 0 | 0 |
Provision for charges | (47) | (187) | (68) |
Reversal of provision for disputes | 0 | 0 | |
Total depreciation, amortization and provision expenses (except IAS 19) | (1,295) | (1,353) | (1,211) |
Provision for retirement benefit obligations (IAS 19) | (42) | (48) | (49) |
Total Provision for retirement benefit obligations (IAS 19) | (42) | (48) | (49) |
Depreciation, Amortization And Provision Expenses | (1,337) | (1,401) | (1,260) |
SG&A | |||
Disclosure Of Operating Expenses [Line Items] | |||
Amortization expense of intangible assets | 0 | (1) | (10) |
Amortization expense of tangible assets | (270) | (334) | (406) |
Utilization of provision for disputes | 0 | 0 | 0 |
Provision for charges | (116) | (43) | 0 |
Reversal of provision for disputes | 0 | 0 | |
Total depreciation, amortization and provision expenses (except IAS 19) | (387) | (378) | (417) |
Provision for retirement benefit obligations (IAS 19) | (24) | (26) | (35) |
Total Provision for retirement benefit obligations (IAS 19) | (24) | (26) | (35) |
Depreciation, Amortization And Provision Expenses | € (411) | € (404) | € (452) |
Operating expenses - Disclosu_5
Operating expenses - Disclosure of Other Operating Income (Expense) (Details) € in Thousands, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2023 EUR (€) | Dec. 31, 2022 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 EUR (€) | Dec. 31, 2021 USD ($) | |
Analysis of income and expense [abstract] | |||||
Other operating expenses | € (2,542) | € (985) | € (5,414) | ||
Total Other operating income and expenses | (2,542) | (985) | (5,414) | ||
Disclosure Of Operating Expenses [Line Items] | |||||
Revenues | 30,058 | € 0 | 10 | ||
Termination benefits expense | 700 | ||||
Contract termination indemnities | € 5,400 | ||||
Janssen | |||||
Disclosure Of Operating Expenses [Line Items] | |||||
Revenues | € (1,600) | ||||
Termination of PharmaEngine License and Collaboration Agreement, NBTXR3 | |||||
Disclosure Of Operating Expenses [Line Items] | |||||
Contract termination indemnities | $ | $ 1 | $ 6.5 |
Share-based payments - Disclosu
Share-based payments - Disclosure of Number and Weighted Average Remaining Contractual Life of Founders' Warrants, Warrants, and Free Shares Oustanding (Details) | 12 Months Ended | |||||||||||||||||||
Jun. 27, 2023 shares | Jun. 22, 2022 shares | Apr. 21, 2021 € / shares | Apr. 20, 2021 shares € / shares | Mar. 17, 2020 shares € / shares | Mar. 29, 2019 shares € / shares | Jul. 27, 2018 shares € / shares | Mar. 06, 2018 shares € / shares | Jan. 07, 2017 shares € / shares | Feb. 02, 2016 shares € / shares | Jun. 25, 2015 shares € / shares | Jun. 10, 2015 shares € / shares | Feb. 10, 2015 shares € / shares | Sep. 16, 2014 shares € / shares | Aug. 28, 2013 shares € / shares | Apr. 10, 2013 shares € / shares | Dec. 31, 2023 shares € / shares | Dec. 31, 2022 shares | Dec. 31, 2023 uSDollarPerEuro | Dec. 31, 2021 shares | |
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 0 | |||||||||||||||||||
Number of awards outstanding (in shares) | 4,172,089 | 3,513,246 | 2,972,860 | |||||||||||||||||
BSPCE | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards outstanding (in shares) | 557,367 | 614,726 | 715,291 | |||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
BSPCE 08-2013 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 50,000 | 0 | 0 | |||||||||||||||||
Exercise price (in euros per share) | € / shares | € 5.92 | |||||||||||||||||||
Number of awards outstanding (in shares) | 0 | 50,000 | 50,000 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 50,000 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 50,000 | |||||||||||||||||||
BSPCE 09-2014 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 97,200 | 0 | 0 | |||||||||||||||||
Exercise price (in euros per share) | € / shares | € 18.68 | |||||||||||||||||||
Number of awards outstanding (in shares) | 85,750 | 86,150 | 86,150 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 11,450 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 400 | |||||||||||||||||||
BSPCE 2015-1 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 71,650 | 0 | 0 | |||||||||||||||||
Exercise price (in euros per share) | € / shares | € 18.57 | |||||||||||||||||||
Number of awards outstanding (in shares) | 68,100 | 68,450 | 68,450 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 3,550 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 350 | |||||||||||||||||||
BSPCE 2015-3 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 53,050 | 0 | 0 | |||||||||||||||||
Exercise price (in euros per share) | € / shares | € 20.28 | |||||||||||||||||||
Number of awards outstanding (in shares) | 28,400 | 30,350 | 30,350 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 24,650 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 1,950 | |||||||||||||||||||
BSPCE 2016 Ordinary | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 126,400 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 14.46 | |||||||||||||||||||
Number of awards outstanding (in shares) | 97,867 | |||||||||||||||||||
Number of awards, exercised (in shares) | 333 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 28,200 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 2,700 | |||||||||||||||||||
BSPCE 2016 Performance | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 129,250 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 14.46 | |||||||||||||||||||
Number of awards outstanding (in shares) | 99,150 | |||||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 30,100 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 909 | |||||||||||||||||||
BSPCE 2017 Ordinary | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 117,650 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 15.93 | |||||||||||||||||||
Number of awards outstanding (in shares) | 98,100 | |||||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 19,550 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 1,050 | |||||||||||||||||||
BSPCE 2017 Performance | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 80,000 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 15.93 | |||||||||||||||||||
Number of awards outstanding (in shares) | 80,000 | |||||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||||||||
BSA | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards outstanding (in shares) | 151,251 | 185,251 | 263,251 | |||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
BSA 2013 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 10,000 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 2.50 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 6.37 | |||||||||||||||||||
Number of awards outstanding (in shares) | 0 | 6,000 | 6,000 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 10,000 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 6,000 | |||||||||||||||||||
BSA 2014 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 14,000 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 4.87 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 17.67 | € 17.67 | ||||||||||||||||||
Number of awards outstanding (in shares) | 10,000 | 10,000 | 10,000 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 4,000 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||||||||
BSA 2015-1 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 26,000 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 4.87 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 17.67 | |||||||||||||||||||
Number of awards outstanding (in shares) | 21,000 | 21,000 | 21,000 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 5,000 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||||||||
BSA 2015-2 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 64,000 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 5 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 19.54 | |||||||||||||||||||
Number of awards outstanding (in shares) | 64,000 | 64,000 | 64,000 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||||||||
BSA 2018-1 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 28,000 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 1.62 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 13.55 | |||||||||||||||||||
Number of awards outstanding (in shares) | 0 | 28,000 | 28,000 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 28,000 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 28,000 | |||||||||||||||||||
BSA 2018-2 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 5,820 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 2.36 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 16.10 | |||||||||||||||||||
Number of awards outstanding (in shares) | 5,820 | 5,820 | 5,820 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||||||||
BSA 2019-1 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 18,000 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 1.15 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | 11.66 | |||||||||||||||||||
Number of awards outstanding (in shares) | 18,000 | 18,000 | 18,000 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||||||||
BSA 2020 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 18,000 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 0.29 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | 6.59 | |||||||||||||||||||
Number of awards outstanding (in shares) | 18,000 | 18,000 | 18,000 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||||||||
BSA 2021 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 48,103 | 0 | 0 | |||||||||||||||||
Grant price (in euro per share) | € / shares | € 2.95 | |||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 13.47 | € 13.47 | € 13.47 | |||||||||||||||||
Number of awards outstanding (in shares) | 14,431 | 14,431 | 14,431 | |||||||||||||||||
Number of awards, exercised (in shares) | 0 | |||||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 33,672 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||||||||
BSA 2021 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 0 | 0 | ||||||||||||||||||
Exercise price (in euros per share) | € / shares | € 13.64 | € 13.64 | ||||||||||||||||||
Number of awards outstanding (in shares) | 0 | 0 | 30,000 | |||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
AGA | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 866,320 | 300,039 | ||||||||||||||||||
Number of awards outstanding (in shares) | 1,127,296 | 653,746 | 410,512 | |||||||||||||||||
Awards exercised during the period (in shares) | 354,510 | 50,000 | ||||||||||||||||||
AGA 2021 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 362,515 | 0 | 0 | |||||||||||||||||
Number of awards outstanding (in shares) | 0 | 354,711 | 360,512 | |||||||||||||||||
Number of awards, exercised (in shares) | 354,510 | |||||||||||||||||||
Awards exercised during the period (in shares) | 354,510 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 8,005 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 201 | |||||||||||||||||||
AGA 2022 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 300,039 | 0 | 300,039 | |||||||||||||||||
Number of awards outstanding (in shares) | 293,776 | 299,035 | 293,776 | 0 | ||||||||||||||||
Awards exercised during the period (in shares) | 0 | 0 | ||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | uSDollarPerEuro | 6,263 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 5,259 | |||||||||||||||||||
AGA 2023 - P1 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 427,110 | 427,110 | ||||||||||||||||||
Number of awards outstanding (in shares) | 400,960 | 0 | ||||||||||||||||||
Awards exercised during the period (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | 26,150 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 26,150 | |||||||||||||||||||
AGA 2023 - P2 | ||||||||||||||||||||
Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding | ||||||||||||||||||||
Number of awards issued (in shares) | 439,210 | 439,210 | ||||||||||||||||||
Number of awards outstanding (in shares) | 432,560 | 0 | 432,560 | |||||||||||||||||
Awards exercised during the period (in shares) | 0 | |||||||||||||||||||
Number of awards lapsed or cancelled (in shares) | uSDollarPerEuro | 6,650 | |||||||||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 6,650 |
Share-based payments - Disclo_2
Share-based payments - Disclosure of Number and Weighted Average Remaining Contractual Life of Share Options Outstanding (Details) | 12 Months Ended | |||||||||||||
Jul. 20, 2023 shares € / shares | Jun. 22, 2022 shares € / shares | Jun. 21, 2021 shares € / shares | Apr. 20, 2021 shares € / shares | Mar. 11, 2020 shares € / shares | Oct. 24, 2019 shares € / shares | Mar. 29, 2019 shares € / shares | Mar. 06, 2018 shares € / shares | Jan. 07, 2017 shares € / shares | Nov. 03, 2016 shares € / shares | Feb. 02, 2016 shares € / shares | Dec. 31, 2023 shares | Dec. 31, 2022 shares | Dec. 31, 2021 shares | |
OSA | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 338,860 | 600,900 | ||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 2,336,175 | 2,059,523 | 1,583,806 | |||||||||||
Number of options as of including options exercised during the period (in shares) | 0 | 0 | ||||||||||||
OSA 2016-1 Performance | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 6,400 | |||||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 13.05 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 400 | |||||||||||||
Number of options lapsed or cancelled (in shares) | 6,000 | |||||||||||||
OSA 2016-2 | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 4,000 | 0 | 0 | |||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 14.26 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 4,000 | 4,000 | 4,000 | |||||||||||
Number of options as of including options exercised during the period (in shares) | 0 | 0 | ||||||||||||
Number of options lapsed or cancelled (in shares) | 0 | |||||||||||||
OSA 2017 Ordinary | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 3,500 | |||||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 14.97 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 500 | |||||||||||||
Number of options lapsed or cancelled (in shares) | 3,000 | |||||||||||||
OSA 2018 | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 62,000 | 0 | 0 | |||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 12.87 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 52,000 | 52,000 | 52,000 | |||||||||||
Number of options as of including options exercised during the period (in shares) | 0 | 0 | ||||||||||||
Number of options lapsed or cancelled (in shares) | 10,000 | |||||||||||||
OSA 2019-1 | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 37,500 | 0 | 0 | |||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 11.08 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 25,750 | 25,750 | 28,250 | |||||||||||
Number of options as of including options exercised during the period (in shares) | 0 | 0 | ||||||||||||
Number of options lapsed or cancelled (in shares) | 11,750 | |||||||||||||
OSA LLY 2019 | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 500,000 | 0 | 0 | |||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 6.41 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 500,000 | 500,000 | 500,000 | |||||||||||
Number of options as of including options exercised during the period (in shares) | 0 | 0 | ||||||||||||
Number of options lapsed or cancelled (in shares) | 0 | |||||||||||||
OSA 2020 | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 407,972 | 0 | 0 | |||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 6.25 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 377,775 | 381,173 | 387,456 | |||||||||||
Number of options as of including options exercised during the period (in shares) | 0 | 0 | ||||||||||||
Number of options lapsed or cancelled (in shares) | 30,197 | |||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 3,398 | |||||||||||||
OSA 2021-04 | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 571,200 | 0 | 0 | |||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 13.74 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 396,200 | 421,200 | 491,200 | |||||||||||
Number of options as of including options exercised during the period (in shares) | 0 | 0 | ||||||||||||
Number of options lapsed or cancelled (in shares) | 175,000 | |||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 25,000 | |||||||||||||
OSA 2021-06 | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 120,000 | 0 | 0 | |||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 12.99 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 120,000 | 120,000 | 120,000 | |||||||||||
Number of options as of including options exercised during the period (in shares) | 0 | 0 | ||||||||||||
Number of options lapsed or cancelled (in shares) | 0 | |||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 0 | |||||||||||||
OSA 2022-06 Ordinary | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 410,500 | |||||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 4.16 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 394,500 | |||||||||||||
Number of options lapsed or cancelled (in shares) | 16,000 | |||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 3,500 | |||||||||||||
OSA 2022-06 Performance | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 170,400 | |||||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 4.16 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 146,190 | |||||||||||||
Number of options lapsed or cancelled (in shares) | 24,210 | |||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 10,310 | |||||||||||||
OSA 2023-01 Ordinary | ||||||||||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [table] | ||||||||||||||
Number of options granted (in shares) | 338,860 | |||||||||||||
Exercise price (euro per share) | € / shares | € 0 | |||||||||||||
Exercise price (in euros per share) | € / shares | € 5 | |||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | 318,860 | |||||||||||||
Number of options lapsed or cancelled (in shares) | 20,000 | |||||||||||||
Number of awards lapsed or cancelled during the period (in shares) | 20,000 |
Share-based payments - Addition
Share-based payments - Additional Information (Details) | 12 Months Ended | |
Sep. 16, 2014 € / shares | Dec. 31, 2023 patient € / shares | |
Disclosure Of Detailed Information About Share-based Payments [Line Items] | ||
Number of preceding trading days taken into account in the determination of the share price on the grant date | 20 days | |
BSA 2014 | ||
Disclosure Of Detailed Information About Share-based Payments [Line Items] | ||
Exercise price (in euros per share) | € / shares | € 17.67 | € 17.67 |
BSPCE | ||
Disclosure Of Detailed Information About Share-based Payments [Line Items] | ||
Number of threshold | patient | 500 |
Share-based payments - Disclo_3
Share-based payments - Disclosure of Indirect Measurement of Fair Value of Goods or Services Received, Founders' Warrants, Warrants, and Free Shares Granted During Period (Details) € / shares in Units, € in Thousands | 12 Months Ended | ||||||||||||||||||
Jun. 22, 2022 EUR (€) € / shares | Apr. 20, 2021 EUR (€) € / shares | Mar. 17, 2020 EUR (€) € / shares | Mar. 11, 2020 EUR (€) € / shares | Mar. 29, 2019 EUR (€) € / shares | Jul. 27, 2018 EUR (€) € / shares | Mar. 06, 2018 EUR (€) € / shares | Jan. 07, 2017 EUR (€) € / shares | Feb. 02, 2016 EUR (€) € / shares | Jun. 25, 2015 EUR (€) € / shares | Jun. 10, 2015 EUR (€) € / shares | Feb. 10, 2015 EUR (€) € / shares | Sep. 16, 2014 EUR (€) € / shares | Aug. 28, 2013 EUR (€) € / shares | Apr. 10, 2013 EUR (€) € / shares | Dec. 31, 2023 EUR (€) shares | Dec. 31, 2022 EUR (€) shares | Dec. 31, 2021 EUR (€) shares | Dec. 31, 2023 uSDollarPerEuro | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 4,172,089 | 3,513,246 | 2,972,860 | ||||||||||||||||
Expense for the year | € 3,222 | € 3,174 | € 3,202 | ||||||||||||||||
BSPCE | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 557,367 | 614,726 | 715,291 | ||||||||||||||||
Expense for the year | € 18 | € 28 | € 32 | ||||||||||||||||
BSPCE 08-2013 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 0 | 50,000 | 50,000 | ||||||||||||||||
Share price (in euros) | € / shares | € 6.30 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 5.92 | ||||||||||||||||||
Volatility | 256% | ||||||||||||||||||
Maturity (in years) | 7 years | ||||||||||||||||||
Risk-free rate | 0.90% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 152 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSPCE 09-2014 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 85,750 | 86,150 | 86,150 | ||||||||||||||||
Share price (in euros) | € / shares | € 18.68 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 18.68 | ||||||||||||||||||
Volatility | 58% | ||||||||||||||||||
Risk-free rate | 0.64% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 965 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSPCE 09-2014 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years 6 months | ||||||||||||||||||
BSPCE 09-2014 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years | ||||||||||||||||||
BSPCE 09-2014 | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years 6 months | ||||||||||||||||||
BSPCE 2015-1 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 68,100 | 68,450 | 68,450 | ||||||||||||||||
Share price (in euros) | € / shares | € 18.57 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 18.57 | ||||||||||||||||||
Risk-free rate | 0.39% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 50 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSPCE 2015-1 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 58% | ||||||||||||||||||
BSPCE 2015-1 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 62% | ||||||||||||||||||
BSPCE 2015-1 | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 61% | ||||||||||||||||||
BSPCE 2015-1 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years 6 months | ||||||||||||||||||
BSPCE 2015-1 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years | ||||||||||||||||||
BSPCE 2015-1 | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years 6 months | ||||||||||||||||||
BSPCE 2015-3 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 28,400 | 30,350 | 30,350 | ||||||||||||||||
Share price (in euros) | € / shares | € 20.28 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 20.28 | ||||||||||||||||||
Risk-free rate | 0.56% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 483 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSPCE 2015-3 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 61% | ||||||||||||||||||
BSPCE 2015-3 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 62% | ||||||||||||||||||
BSPCE 2015-3 | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 61% | ||||||||||||||||||
BSPCE 2015-3 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years 6 months | ||||||||||||||||||
BSPCE 2015-3 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years | ||||||||||||||||||
BSPCE 2015-3 | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years 6 months | ||||||||||||||||||
BSPCE 2016 Ordinary | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 97,867 | ||||||||||||||||||
Share price (in euros) | € / shares | € 14.46 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 14.46 | ||||||||||||||||||
Risk-free rate | 0.32% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 1,080 | ||||||||||||||||||
Expense for the year | € 0 | 0 | 0 | ||||||||||||||||
BSPCE 2016 Ordinary | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 59% | ||||||||||||||||||
BSPCE 2016 Ordinary | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 62% | ||||||||||||||||||
BSPCE 2016 Ordinary | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 60% | ||||||||||||||||||
BSPCE 2016 Ordinary | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years 6 months | ||||||||||||||||||
BSPCE 2016 Ordinary | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years | ||||||||||||||||||
BSPCE 2016 Ordinary | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years 6 months | ||||||||||||||||||
BSPCE 2016 Performance | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 99,150 | ||||||||||||||||||
Share price (in euros) | € / shares | € 14.46 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 14.46 | ||||||||||||||||||
Volatility | 59% | ||||||||||||||||||
Maturity (in years) | 5 years | ||||||||||||||||||
Risk-free rate | 0.19% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 1,212 | ||||||||||||||||||
Expense for the year | € 18 | 28 | 32 | ||||||||||||||||
BSPCE 2017 Ordinary | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 98,100 | ||||||||||||||||||
Share price (in euros) | € / shares | € 15.93 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 15.93 | ||||||||||||||||||
Risk-free rate | 0.23% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 1,000 | ||||||||||||||||||
Expense for the year | € 0 | 0 | 0 | ||||||||||||||||
BSPCE 2017 Ordinary | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 58% | ||||||||||||||||||
BSPCE 2017 Ordinary | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 61% | ||||||||||||||||||
BSPCE 2017 Ordinary | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 59% | ||||||||||||||||||
BSPCE 2017 Ordinary | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years 6 months | ||||||||||||||||||
BSPCE 2017 Ordinary | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years | ||||||||||||||||||
BSPCE 2017 Ordinary | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 6 years 6 months | ||||||||||||||||||
BSPCE 2017 Performance | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 80,000 | ||||||||||||||||||
Share price (in euros) | € / shares | € 15.93 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 15.93 | ||||||||||||||||||
Volatility | 59% | ||||||||||||||||||
Maturity (in years) | 5 years | ||||||||||||||||||
Risk-free rate | 0.11% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 622 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSPCE 2017 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 178,100 | 179,150 | 179,500 | ||||||||||||||||
Share price (in euros) | € / shares | € 15.93 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 15.93 | ||||||||||||||||||
Volatility | 59% | ||||||||||||||||||
Maturity (in years) | 5 years | ||||||||||||||||||
Risk-free rate | 0.11% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 627 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSPCE 2017 Project | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Share price (in euros) | € / shares | € 15.93 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 15.93 | ||||||||||||||||||
Volatility | 59% | ||||||||||||||||||
Maturity (in years) | 5 years | ||||||||||||||||||
Risk-free rate | 0.11% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 94 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 151,251 | 185,251 | 263,251 | ||||||||||||||||
Expense for the year | € 0 | € 0 | € 44 | ||||||||||||||||
BSA 2013 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 0 | 6,000 | 6,000 | ||||||||||||||||
Share price (in euros) | € / shares | € 6.30 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 6.37 | ||||||||||||||||||
Volatility | 156% | ||||||||||||||||||
Maturity (in years) | 6 years | ||||||||||||||||||
Risk-free rate | 0.90% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 1 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA 2014 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 10,000 | 10,000 | 10,000 | ||||||||||||||||
Share price (in euros) | € / shares | € 18.68 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 17.67 | ||||||||||||||||||
Volatility | 57% | ||||||||||||||||||
Maturity (in years) | 5 years | ||||||||||||||||||
Risk-free rate | 0.41% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 0 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA 2015-1 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 21,000 | 21,000 | 21,000 | ||||||||||||||||
Share price (in euros) | € / shares | € 17.67 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 17.67 | ||||||||||||||||||
Volatility | 58% | ||||||||||||||||||
Maturity (in years) | 5 years | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 63 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA 2015-1 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.26% | ||||||||||||||||||
BSA 2015-1 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.27% | ||||||||||||||||||
BSA 2015-2 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 64,000 | 64,000 | 64,000 | ||||||||||||||||
Share price (in euros) | € / shares | € 19.54 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 19.54 | ||||||||||||||||||
Risk-free rate | 0.39% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 16 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA 2015-2 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 58% | ||||||||||||||||||
BSA 2015-2 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 58% | ||||||||||||||||||
BSA 2015-2 | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 57% | ||||||||||||||||||
BSA 2015-2 | Tranche four | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Volatility | 58% | ||||||||||||||||||
BSA 2015-2 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years | ||||||||||||||||||
BSA 2015-2 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years 1 month 6 days | ||||||||||||||||||
BSA 2015-2 | Tranche three | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years 3 months 18 days | ||||||||||||||||||
BSA 2015-2 | Tranche four | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 5 years 4 months 24 days | ||||||||||||||||||
BSA 2018-1 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 0 | 28,000 | 28,000 | ||||||||||||||||
Share price (in euros) | € / shares | € 13.55 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 13.55 | ||||||||||||||||||
Volatility | 38% | ||||||||||||||||||
Maturity (in years) | 4 years 9 months 18 days | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 2 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA 2018-1 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.70% | ||||||||||||||||||
BSA 2018-1 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.10% | ||||||||||||||||||
BSA 2018-2 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 5,820 | 5,820 | 5,820 | ||||||||||||||||
Share price (in euros) | € / shares | € 16.10 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 16.10 | ||||||||||||||||||
Volatility | 38% | ||||||||||||||||||
Maturity (in years) | 4 years 9 months 18 days | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 1 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA 2018-2 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.70% | ||||||||||||||||||
BSA 2018-2 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.10% | ||||||||||||||||||
BSA 2019-1 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 18,000 | 18,000 | 18,000 | ||||||||||||||||
Share price (in euros) | € / shares | € 11.66 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 11.66 | ||||||||||||||||||
Volatility | 37% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 24 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA 2019-1 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.16% | ||||||||||||||||||
BSA 2019-1 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.50% | ||||||||||||||||||
BSA 2019-1 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 9 years 9 months 18 days | ||||||||||||||||||
BSA 2019-1 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Maturity (in years) | 9 years 10 months 24 days | ||||||||||||||||||
BSA 2020 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 18,000 | 18,000 | 18,000 | ||||||||||||||||
Share price (in euros) | € / shares | € 6.59 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 6.59 | ||||||||||||||||||
Volatility | 38% | ||||||||||||||||||
Maturity (in years) | 10 years | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 19 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 0 | ||||||||||||||||
BSA 2020 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | (0.13%) | ||||||||||||||||||
BSA 2020 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | (0.07%) | ||||||||||||||||||
BSA 2021 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 14,431 | 14,431 | 14,431 | ||||||||||||||||
Share price (in euros) | € / shares | € 13.47 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 13.47 | ||||||||||||||||||
Volatility | 39.10% | ||||||||||||||||||
Maturity (in years) | 10 years | ||||||||||||||||||
Risk-free rate | 0.27% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 44 | ||||||||||||||||||
Expense for the year | € 0 | € 0 | € 44 | ||||||||||||||||
BSA 2021 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 0 | 0 | 30,000 | ||||||||||||||||
OSA | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of share options outstanding in share-based payment arrangement (in shares) | shares | 2,336,175 | 2,059,523 | 1,583,806 | ||||||||||||||||
Expense for the year | € 941 | € 549 | € 760 | ||||||||||||||||
AGA | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 1,127,296 | 653,746 | 410,512 | ||||||||||||||||
Expense for the year | € 2,264 | € 2,597 | € 2,366 | ||||||||||||||||
AGA 2018-1 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Share price (in euros) | € / shares | € 12.87 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 0 | ||||||||||||||||||
Risk-free rate | 0% | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 4,951 | ||||||||||||||||||
Expense for the year | 0 | 0 | 16 | ||||||||||||||||
AGA 2019-1 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Share price (in euros) | € / shares | € 10.90 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 0 | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 4,776 | ||||||||||||||||||
Expense for the year | 0 | € 0 | € 422 | ||||||||||||||||
AGA 2019-1 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.19% | ||||||||||||||||||
AGA 2019-1 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.141% | ||||||||||||||||||
AGA 2020 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 0 | 50,000 | |||||||||||||||||
Share price (in euros) | € / shares | € 5.90 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 0 | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 287 | ||||||||||||||||||
Expense for the year | € 0 | € 28 | € 144 | ||||||||||||||||
AGA 2020 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | (0.74%) | ||||||||||||||||||
AGA 2020 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | (0.69%) | ||||||||||||||||||
AGA 2021 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 0 | 354,711 | 360,512 | ||||||||||||||||
Share price (in euros) | € / shares | € 13.60 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 0 | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 4,869 | ||||||||||||||||||
Expense for the year | € 694 | € 2,283 | € 1,784 | ||||||||||||||||
AGA 2021 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.63% | ||||||||||||||||||
AGA 2021 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.59% | ||||||||||||||||||
AGA 2022 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | 293,776 | 299,035 | 0 | 293,776 | |||||||||||||||
Share price (in euros) | € / shares | € 3.68 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 0 | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 1,092 | ||||||||||||||||||
Expense for the year | € 530 | € 286 | € 0 | ||||||||||||||||
AGA 2022 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 0.95% | ||||||||||||||||||
AGA 2022 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 1.46% | ||||||||||||||||||
AGA 2023 - P1 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | shares | 400,960 | 0 | |||||||||||||||||
Share price (in euros) | € / shares | € 4.87 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 0 | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 2,071 | ||||||||||||||||||
Expense for the year | € 497 | € 0 | 0 | ||||||||||||||||
AGA 2023 - P1 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 3% | ||||||||||||||||||
AGA 2023 - P1 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 3.20% | ||||||||||||||||||
AGA 2023 - P2 | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Number of awards outstanding (in shares) | 432,560 | 0 | 432,560 | ||||||||||||||||
Share price (in euros) | € / shares | € 4.87 | ||||||||||||||||||
Exercise price (in euro per share) | € / shares | € 0 | ||||||||||||||||||
Yield | 0% | ||||||||||||||||||
Value of initial plan (in thousands of euros) | € 2,130 | ||||||||||||||||||
Expense for the year | € 543 | € 0 | € 0 | ||||||||||||||||
AGA 2023 - P2 | Tranche one | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 3% | ||||||||||||||||||
AGA 2023 - P2 | Tranche two | |||||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||||
Risk-free rate | 3.20% |
Share-based payments - Disclo_4
Share-based payments - Disclosure of Indirect Measurement of Fair Value of Goods or Services Received, Share Options Granted During Period (Details) € / shares in Units, € in Thousands | 12 Months Ended | ||||||||||||
Jun. 22, 2022 EUR (€) yr € / shares | Jun. 21, 2021 EUR (€) yr € / shares | Apr. 20, 2021 EUR (€) yr € / shares | Mar. 11, 2020 EUR (€) yr € / shares | Oct. 24, 2019 EUR (€) yr € / shares | Mar. 29, 2019 EUR (€) yr € / shares | Mar. 06, 2018 EUR (€) yr € / shares | Jan. 07, 2017 EUR (€) yr € / shares | Nov. 03, 2016 EUR (€) yr € / shares | Feb. 02, 2016 EUR (€) yr € / shares | Dec. 31, 2023 EUR (€) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Expense for the year | € 3,222 | € 3,174 | € 3,202 | ||||||||||
OSA | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Expense for the year | 941 | 549 | 760 | ||||||||||
OSA 2016-1 Performance | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 13.05 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 13.05 | ||||||||||||
Volatility | 59% | ||||||||||||
Maturity (in years) | yr | 5,000 | ||||||||||||
Risk-free rate | 0.19% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 69 | ||||||||||||
Expense for the year | 0 | 0 | 0 | ||||||||||
OSA 2016-2 | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 14.26 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 14.26 | ||||||||||||
Risk-free rate | 0.04% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 27 | ||||||||||||
Expense for the year | 0 | 0 | 0 | ||||||||||
OSA 2016-2 | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 58% | ||||||||||||
OSA 2016-2 | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 62% | ||||||||||||
OSA 2016-2 | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 59% | ||||||||||||
OSA 2016-2 | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 5.5 | ||||||||||||
OSA 2016-2 | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6 | ||||||||||||
OSA 2016-2 | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6.5 | ||||||||||||
OSA 2017 Ordinary | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 15.93 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 14.97 | ||||||||||||
Risk-free rate | 0.23% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 31 | ||||||||||||
Expense for the year | 0 | 0 | 0 | ||||||||||
OSA 2017 Ordinary | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 58% | ||||||||||||
OSA 2017 Ordinary | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 61% | ||||||||||||
OSA 2017 Ordinary | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 59% | ||||||||||||
OSA 2017 Ordinary | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 5.5 | ||||||||||||
OSA 2017 Ordinary | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6 | ||||||||||||
OSA 2017 Ordinary | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6.5 | ||||||||||||
OSA 2018 | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 12.87 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 12.87 | ||||||||||||
Volatility | 35% | ||||||||||||
Risk-free rate | 0% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 252 | ||||||||||||
Expense for the year | 0 | 0 | 0 | ||||||||||
OSA 2018 | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 5.5 | ||||||||||||
OSA 2018 | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6 | ||||||||||||
OSA 2018 | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6.5 | ||||||||||||
OSA 2019-1 | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 11.08 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 11.08 | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 140 | ||||||||||||
Expense for the year | 0 | (1) | 17 | ||||||||||
OSA 2019-1 | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 38.10% | ||||||||||||
Risk-free rate | 0.103% | ||||||||||||
OSA 2019-1 | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 37.40% | ||||||||||||
Risk-free rate | 0.149% | ||||||||||||
OSA 2019-1 | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6 | ||||||||||||
OSA 2019-1 | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6.5 | ||||||||||||
OSA LLY 2019 | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 6.41 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 6.41 | ||||||||||||
Volatility | 37% | ||||||||||||
Maturity (in years) | yr | 10,000 | ||||||||||||
Risk-free rate | 0.40% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 252 | ||||||||||||
Expense for the year | 0 | 0 | 0 | ||||||||||
OSA 2020 | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 6.25 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 6.25 | ||||||||||||
Volatility | 38% | ||||||||||||
Maturity (in years) | yr | 10,000 | ||||||||||||
Risk-free rate | 0.31% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 939 | ||||||||||||
Expense for the year | 13 | 101 | 329 | ||||||||||
OSA 2021-04 O | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 13.60 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 13.74 | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 684 | ||||||||||||
Expense for the year | 34 | (28) | 188 | ||||||||||
OSA 2021-04 O | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 38.90% | ||||||||||||
Risk-free rate | 0.38% | ||||||||||||
OSA 2021-04 O | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 37.80% | ||||||||||||
Risk-free rate | 0.33% | ||||||||||||
OSA 2021-04 O | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 38.30% | ||||||||||||
Risk-free rate | 0.28% | ||||||||||||
OSA 2021-04 O | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 5.5 | ||||||||||||
OSA 2021-04 O | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6 | ||||||||||||
OSA 2021-04 O | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6.5 | ||||||||||||
OSA 2021-04 P | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 13.60 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 13.74 | ||||||||||||
Volatility | 39.10% | ||||||||||||
Maturity (in years) | yr | 10,000 | ||||||||||||
Risk-free rate | 0.03% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 1,816 | ||||||||||||
Expense for the year | 216 | 163 | 131 | ||||||||||
OSA 2021-06 O | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 12.20 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 12.99 | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 246 | ||||||||||||
Expense for the year | 47 | 107 | 79 | ||||||||||
OSA 2021-06 O | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 39.20% | ||||||||||||
Risk-free rate | 0.35% | ||||||||||||
OSA 2021-06 O | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 37.90% | ||||||||||||
Risk-free rate | 0.30% | ||||||||||||
OSA 2021-06 O | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 38.10% | ||||||||||||
Risk-free rate | 0.26% | ||||||||||||
OSA 2021-06 O | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 5.5 | ||||||||||||
OSA 2021-06 O | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6 | ||||||||||||
OSA 2021-06 O | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6.5 | ||||||||||||
OSA 2021-06 P | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 12.20 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 12.99 | ||||||||||||
Volatility | 39.10% | ||||||||||||
Maturity (in years) | yr | 10,000 | ||||||||||||
Risk-free rate | 0.13% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 212 | ||||||||||||
Expense for the year | 24 | 24 | 16 | ||||||||||
OSA 2022-06 O | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 3.68 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 4.16 | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 580 | ||||||||||||
Expense for the year | 267 | 178 | 0 | ||||||||||
OSA 2022-06 O | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 42.06% | ||||||||||||
Risk-free rate | 1.83% | ||||||||||||
OSA 2022-06 O | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 41.21% | ||||||||||||
Risk-free rate | 1.87% | ||||||||||||
OSA 2022-06 O | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 40.65% | ||||||||||||
Risk-free rate | 1.90% | ||||||||||||
OSA 2022-06 O | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 5.5 | ||||||||||||
OSA 2022-06 O | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6 | ||||||||||||
OSA 2022-06 O | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6.5 | ||||||||||||
OSA 2022-06 P | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 3.68 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 4.16 | ||||||||||||
Volatility | 40.08% | ||||||||||||
Maturity (in years) | yr | 10,000 | ||||||||||||
Risk-free rate | 2.28% | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 80 | ||||||||||||
Expense for the year | 20 | 4 | 0 | ||||||||||
OSA 2023 - 01 O | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Share price (in euros) | € / shares | € 6.75 | ||||||||||||
Exercise price (in euros per share) | € / shares | € 5 | ||||||||||||
Yield | 0% | ||||||||||||
Value of initial plan (in thousands of euros) | € 1,255 | ||||||||||||
Expense for the year | € 321 | € 0 | € 0 | ||||||||||
OSA 2023 - 01 O | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 45.07% | ||||||||||||
Risk-free rate | 2.85% | ||||||||||||
OSA 2023 - 01 O | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 44.11% | ||||||||||||
Risk-free rate | 2.83% | ||||||||||||
OSA 2023 - 01 O | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Volatility | 43.41% | ||||||||||||
Risk-free rate | 2.82% | ||||||||||||
OSA 2023 - 01 O | Tranche one | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 5.55 | ||||||||||||
OSA 2023 - 01 O | Tranche two | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6 | ||||||||||||
OSA 2023 - 01 O | Tranche three | |||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||
Maturity (in years) | yr | 6.5 |
Net financial income (loss) - D
Net financial income (loss) - Disclosure of Net Financial Income (loss) (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income, expense, gains or losses of financial instruments [abstract] | |||
Income from cash and cash equivalents | € 1,217 | € 256 | € 0 |
Foreign exchange gains | 785 | 3,277 | 6,347 |
Other financial income | 0 | 0 | 13 |
Total financial income | 2,002 | 3,533 | 6,360 |
Interest cost | (7,779) | (5,599) | (383) |
EIB debt valuation impact | 285 | (6,855) | 0 |
Lease debt interests | (203) | (238) | (288) |
Losses on fair value variation | (4,230) | 0 | 0 |
Foreign exchange losses | (2,877) | (1,171) | (109) |
Financial expenses | (14,803) | (13,863) | (780) |
Net financial income (loss) | € (12,801) | € (10,329) | € 5,580 |
Net financial income (loss) - A
Net financial income (loss) - Additional Information (Details) - EUR (€) € in Thousands | 12 Months Ended | |||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Oct. 18, 2022 | Mar. 31, 2019 | Oct. 31, 2018 | |
Disclosure of financial instruments by type of interest rate [line items] | ||||||
Interest expense | € 7,779 | € 5,599 | € 383 | |||
Valuation impact | (285) | 6,855 | 0 | |||
Non-current financial liabilities | 45,543 | 48,608 | ||||
Foreign exchange gains | 785 | 3,277 | 6,347 | |||
Janssen | ||||||
Disclosure of financial instruments by type of interest rate [line items] | ||||||
Adjustments for fair value losses | 4,200 | |||||
USD / Euro exchange rate | ||||||
Disclosure of financial instruments by type of interest rate [line items] | ||||||
Foreign exchange gains | 2,100 | 6,100 | ||||
Foreign exchange losses | 2,100 | |||||
EIB fixed rate loan | ||||||
Disclosure of financial instruments by type of interest rate [line items] | ||||||
Interest expense | 7,800 | 5,600 | ||||
Accumulated variable interest expense accrual | 4,200 | |||||
Borrowings, interest rate | 21.30% | 5% | 6% | |||
Impact of discounting and accretion | 300 | |||||
Valuation impact | (6,900) | |||||
Non-current financial liabilities | 19,200 | 27,500 | ||||
Financial liabilities, at fair value | 34,400 | € 34,400 | ||||
EIB fixed rate loan | Fixed interest rate | ||||||
Disclosure of financial instruments by type of interest rate [line items] | ||||||
Interest expense | 1,600 | 1,600 | ||||
Interest expense on borrowings | 2,300 | € 1,800 | ||||
EIB fixed rate loan | Variable interest rate | ||||||
Disclosure of financial instruments by type of interest rate [line items] | ||||||
Interest expense | € 5,900 | € 3,700 |
Income tax - Additional Informa
Income tax - Additional Information (Details) € in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2023 EUR (€) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 EUR (€) | Dec. 31, 2021 USD ($) | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Deferred tax asset | € (95) | |||||
Unused tax losses | € 91.8 | € 88.3 | € 74.7 | |||
Deferred tax rate (percent) | 25.80% | |||||
Unused Tax Losses | ||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Unused tax losses | 86.2 | 74.2 | ||||
FRANCE | Unused Tax Losses | ||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Deferred tax asset | € 367 | € 331 | € 284 | |||
UNITED STATES | Unused Tax Losses | ||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Deferred tax asset | $ | $ 0.2 | $ 3.1 | $ 3.7 |
Income tax - Schedule of Reconc
Income tax - Schedule of Reconciliation Between Statutory and Effective Income Tax (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income taxes paid (refund) [abstract] | |||
Net loss | € (39,700) | € (57,041) | € (47,003) |
Effective tax expense | 120 | 10 | 5 |
Recurring loss before tax | € (39,580) | € (57,030) | € (46,999) |
Theoretical tax rate (statutory rate in France) | 25% | 25% | 26.50% |
Theoretical tax (benefit) expense | € (9,895) | € (14,258) | € (12,455) |
Share-based payment | 805 | 794 | 848 |
Other permanent differences | (660) | 45 | 117 |
Other non-taxable items (CIR) | (985) | (1,023) | (660) |
Unrecognized deferred tax on deductible differences and tax losses | 10,854 | 14,452 | 12,154 |
Effective tax expense | € 120 | € 10 | € 5 |
Effective tax rate | (0.30%) | 0% | 0% |
Loss per share - Schedule of Ba
Loss per share - Schedule of Basic and Diluted Loss Per Share (Details) - EUR (€) € / shares in Units, € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Earnings per share [abstract] | |||
Net loss for the period (in thousands of euros) | € (39,700) | € (57,041) | € (47,063) |
Weighted average number of shares (in shares) | 36,928,161,000 | 34,851,868,000 | 34,733,418,000 |
Basic loss per share (in euro per share) | € (1.08) | € (1.64) | € (1.35) |
Diluted loss per share (in euro per share) | € (1.08) | € (1.64) | € (1.35) |
Loss per share - Additional Inf
Loss per share - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2023 shares | |
Earnings per share [abstract] | |
Number of potential ordinary shares that are antidilutive in period presented (in shares) | 9,372,089 |
Number of instruments that are antidilutive in period presented (in shares) | 5,200,000 |
Commitments (Details)
Commitments (Details) € in Thousands, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||
Oct. 18, 2022 | May 18, 2022 shares | Jan. 01, 2021 | Feb. 03, 2020 USD ($) | Dec. 21, 2018 USD ($) | May 31, 2022 | Jun. 30, 2021 patient | Jan. 31, 2019 | Jul. 31, 2018 | Dec. 31, 2022 USD ($) | Dec. 31, 2023 USD ($) lease shares | Dec. 31, 2023 EUR (€) lease shares | Dec. 31, 2020 USD ($) | Dec. 31, 2023 EUR (€) | Jul. 19, 2023 USD ($) | Dec. 31, 2022 EUR (€) | |
Disclosure of contingent liabilities [line items] | ||||||||||||||||
EIB loan guarantee (as a percent) | 20% | 20% | ||||||||||||||
Number of short term leases | lease | 1 | 1 | ||||||||||||||
Annual short term lease expense | $ 130 | |||||||||||||||
Annual lease expense | € | € 10 | |||||||||||||||
Contractual capital commitments | $ 750 | |||||||||||||||
Prepaid expenses | € | € 2,560 | € 2,981 | ||||||||||||||
Milestone payment upon second regulatory approval | $ 750 | |||||||||||||||
Trade receivables | € | 905 | 101 | ||||||||||||||
BSA | Kepler Cheuvreux Subscription Agreement PACEO | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Underwriting agreement, maximum number of shares issued (in shares) | shares | 5,200,000 | 5,200,000 | 5,200,000 | |||||||||||||
Underwriting agreement, maximum period | 24 months | 24 months | 24 months | |||||||||||||
Underwriting agreement, maximum discount | 5% | |||||||||||||||
MD Anderson Cancer Center, NBTXR3 | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Number of patients | patient | 312 | |||||||||||||||
Contractual capital commitments | $ 11,000 | |||||||||||||||
Upfront payment | $ 1,000 | $ 1,000 | ||||||||||||||
Milestone payment, deferment period | 6 months | |||||||||||||||
Prepaid expenses | € | 1,200 | € 1,500 | ||||||||||||||
Termination of PharmaEngine License and Collaboration Agreement, NBTXR3 | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Upfront payment | $ 6,500 | |||||||||||||||
Milestone payment upon receipt of clinical study reports | $ 1,000 | 1,000 | ||||||||||||||
Milestone payment upon second regulatory approval | $ 5,000 | 5,000 | ||||||||||||||
Royalties agreement, period | 10 years | |||||||||||||||
Janssen | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Trade receivables | $ 20,000 | |||||||||||||||
Janssen | NBTXR3 | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Trade receivables | € | 800 | |||||||||||||||
EIB fixed rate loan | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Royalties agreement, period | 6 years | 6 years | 6 years | |||||||||||||
Minimum | EIB fixed rate loan | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Estimated financial effect of contingent liabilities | € | € 35,000 | |||||||||||||||
Maximum | Event One | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Milestone payment increase | $ 2,200 | |||||||||||||||
Maximum | Event Two | ||||||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||||||
Milestone payment increase | $ 16,400 |
Related parties (Details)
Related parties (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Related party transactions [abstract] | |||
Salaries, wages and benefits | € 1,735 | € 1,464 | € 1,245 |
Share-based payments | 2,386 | 2,501 | 2,018 |
Supervisory Board’s fees | 225 | 225 | 375 |
Total compensation to related parties | € 4,346 | € 4,190 | € 3,638 |