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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

Non-current financial assets

12 Months Ended

Dec. 31, 2023

Disclosure of financial assets [abstract]

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 deposits paid	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

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

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	€ 5.00
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

Financial liabilities

12 Months Ended

Dec. 31, 2023

Disclosure of financial liabilities [abstract]

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%.

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 “PGE”	Bpifrance “PGE”	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 financing activities	—	(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 financing activities	(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 3 years	Between 3 and 5 years	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 3 years	Between 3 and 5 years	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 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

Intangible assets (Details) - EUR (€) € in Thousands	12 Months Ended
Intangible assets (Details) - EUR (€) € in Thousands	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)

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

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)

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

Loss per share

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

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).

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

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 translation	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 translation	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

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%)	13.00%
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

Consolidation principles and methods (Policies)	12 Months Ended
Consolidation principles and methods (Policies)	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. 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.
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 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).
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, reporting by operating segment is derived from the internal organization of the Company’s activities; it reflects management’s viewpoint and is established based on internal reporting used by the chief operating decision maker (the Company’s Chief Executive Officer and Chairmen of the Executive Board and of the Supervisory Board) to allocate resources and to assess performance. The Company operates in a single operating segment: research and development in product candidates that harness principles of physics to transform cancer treatment. The assets, liabilities and operating loss realized are primarily located in France.
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 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.

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 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	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

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

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 “PGE”	Bpifrance “PGE”	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 financing activities	—	(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 financing activities	(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 3 years	Between 3 and 5 years	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 3 years	Between 3 and 5 years	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

Provisions

12 Months Ended

Dec. 31, 2023

Provisions [abstract]

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 next years.

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 \| $						$ 25.0
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				$ 5.0	€ 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)

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

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)

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)

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 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

Consolidation principles and methods (Details)	12 Months Ended
Consolidation principles and methods (Details)	Dec. 31, 2023 uSDollarPerEuro parent subsidiary	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

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

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 (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

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

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	%

Revenues and other income

12 Months Ended

Dec. 31, 2023

Revenue [abstract]

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.

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)

Related parties

12 Months Ended

Dec. 31, 2023

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.

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%)	13.00%
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

Share Capital - Founders’ warrants (Details) - BSPCE	12 Months Ended
Share Capital - Founders’ warrants (Details) - BSPCE	Dec. 31, 2023 patient employee
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

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

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

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.

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)	25.00%	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	(0.30%)	0.00%	0.00%

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.

Share-based payments - Additional Information (Details)		12 Months Ended
Share-based payments - Additional Information (Details)	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

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

Commitments (Details) € in Thousands, $ in Thousands						1 Months Ended				3 Months Ended	12 Months Ended
Commitments (Details) € in Thousands, $ in Thousands	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 ($)	Dec. 31, 2023 EUR (€) lease shares	Dec. 31, 2023 USD ($) lease shares	Dec. 31, 2020 USD ($)	Dec. 31, 2023 USD ($)	Jul. 19, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)
Disclosure of contingent liabilities [line items]
EIB loan guarantee (as a percent)											20.00%	20.00%
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						5.00%
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

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 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

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

Cash and cash equivalents

12 Months Ended

Dec. 31, 2023

Subclassifications of assets, liabilities and equities [abstract]

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.

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

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_32&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2023-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_34&doctype=Standard
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2023-03-23

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard
-URIDate 2023-03-23

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard
-URIDate 2023-03-23

+ Details

Operating expenses

12 Months Ended

Dec. 31, 2023

Analysis of income and expense [abstract]

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.

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

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

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%	5.00%	6.00%
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

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

Intangible assets

12 Months Ended

Dec. 31, 2023

Intangible assets other than goodwill [abstract]

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 translation	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 translation	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

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)

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

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

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)

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 \| $			$ 1.0		$ 6.5

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

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.

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 date	Exercise price (in euros)	Outstanding at January 1, 2023	Issued	Exercised	Forfeited	Outstanding at December 31, 2023	Number of shares issuable
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 date	Exercise price (in euros)	Outstanding at January 1, 2022	Issued	Exercised	Forfeited	Outstanding at December 31, 2022	Number of shares issuable
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 price (in euros)	Outstanding at January 1, 2023	Issued	Exercised	Forfeited	Outstanding at December 31, 2023	Number of shares issuable
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 price (in euros)	Outstanding at January 1, 2022	Issued	Exercised	Forfeited	Outstanding at December 31, 2022	Number of shares issuable
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

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

Commitments	12 Months Ended
Commitments	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.

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

Share-based payments

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [abstract]

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 08-2013	BSPCE 09-2014	BSPCE 2015-1	BSPCE 2015-03	BSPCE 2016 Ordinary	BSPCE 2016 Performance	BSPCE 2017 Ordinary	BSPCE 2017
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 2013	BSA 2014	BSA 2015-1	BSA 2015-2 (a)	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 2016-1 Performance	OSA 2016-2	OSA 2017 Ordinary	OSA 2018	OSA 2019-1	OSA LLY 2019	OSA 2020	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 2021	AGA 2022	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

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

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 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	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

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

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.

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

Property, plant and equipment

12 Months Ended

Dec. 31, 2023

Property, plant and equipment [abstract]

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 translation	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 translation	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.

The €0.2 million decrease in Right of use – Buildings relates to the termination of the Oberkampf lease contract in July 2022.

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

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	Dec. 31, 2023 shares € / 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																								€ 6.00
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	€ 5.00
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 - 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)	€ 5.00
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%

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 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	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

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

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 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	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

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

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)


	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

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	€ (95.0)
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	€ 367.0		€ 331.0		€ 284.0
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

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		27.00%	(19.20%)

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 translation	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 translation	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

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	45.00%	44.00%	42.00%
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)	4.00%	4.00%	3.00%
Non-executive
Disclosure of defined benefit plans [table]
Salary increase rate (including inflation)	3.50%	3.50%	2.50%

Company information	12 Months Ended
Company information	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 Territory. 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 Territory. 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.

Significant transactions	12 Months Ended
Significant transactions	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 NBTXR3 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 Territory. 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 Territory. 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)

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

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)

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

Income tax

12 Months Ended

Dec. 31, 2023

Income taxes paid (refund) [abstract]

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.

The deferred tax rate of the Company is unchanged at 25.8% in 2023 as compared to 2022 and in 2021, based on enacted tax rate reductions in future years.

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							80.00%	80.00%
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

Segment reporting	12 Months Ended
Segment reporting	Dec. 31, 2023
Disclosure of operating segments [abstract]
Segment reporting	Segment reportingIn accordance with IFRS 8 – Operating Segments, reporting by operating segment is derived from the internal organization of the Company’s activities; it reflects management’s viewpoint and is established based on internal reporting used by the chief operating decision maker (the Company’s Chief Executive Officer and Chairmen of the Executive Board and of the Supervisory Board) to allocate resources and to assess performance. The Company operates in a single operating segment: research and development in product candidates that harness principles of physics to transform cancer treatment. The assets, liabilities and operating loss realized are primarily located in France.

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

Loss per share - Additional Information (Details)	12 Months Ended
Loss per share - Additional Information (Details)	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

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

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


	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	—

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

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)

- Definition

The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2023-01-01
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
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-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
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-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
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-Paragraph 113
-Subparagraph b
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
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-Paragraph 106
-Subparagraph d
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-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2023-03-23

+ Details

Subsequent events	12 Months Ended
Subsequent events	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.

Share Capital

12 Months Ended

Dec. 31, 2023

Disclosure Of Share Capital, Reserves And Other Equity Interest [Abstract]

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 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 date	Exercise price (in euros)	Outstanding at January 1, 2023	Issued	Exercised	Forfeited	Outstanding at December 31, 2023	Number of shares issuable
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 date	Exercise price (in euros)	Outstanding at January 1, 2022	Issued	Exercised	Forfeited	Outstanding at December 31, 2022	Number of shares issuable
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 price (in euros)	Outstanding at January 1, 2023	Issued	Exercised	Forfeited	Outstanding at December 31, 2023	Number of shares issuable
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 price (in euros)	Outstanding at January 1, 2022	Issued	Exercised	Forfeited	Outstanding at December 31, 2022	Number of shares issuable
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

(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.

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

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 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

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

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		5.00%
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			25.00%

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

Consolidation principles and methods	12 Months Ended
Consolidation principles and methods	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.

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											€ 5.00
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

Net financial income (loss)

12 Months Ended

Dec. 31, 2023

Income, expense, gains or losses of financial instruments [abstract]

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

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.

Cover page	12 Months Ended
Cover page	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

Related parties (Tables)

12 Months Ended

Dec. 31, 2023

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

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

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

Share Capital - Free Share Plans (Details)					12 Months Ended
Share Capital - Free Share Plans (Details)	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

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

- Definition

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]

+ References + 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

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													30.00%
Borrowings, interest rate	21.30%				5.00%	6.00%
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 - 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

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											5.00%
Exercise commission percentage											2.00%
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%									5.00%		6.00%
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				10.00%
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				6.00%
Remaining notional amount \| €				€ 16,000
Second Tranche \| EIB fixed rate loan
Disclosure of transactions between related parties [line items]
Borrowings, interest rate				5.00%
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

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)

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

Share Capital - Warrant Plans (Details)			12 Months Ended
Share Capital - Warrant Plans (Details)	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

Related parties (Details) - EUR (€) € in Thousands	12 Months Ended
Related parties (Details) - EUR (€) € in Thousands	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

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 08-2013	BSPCE 09-2014	BSPCE 2015-1	BSPCE 2015-03	BSPCE 2016 Ordinary	BSPCE 2016 Performance	BSPCE 2017 Ordinary	BSPCE 2017
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 2013	BSA 2014	BSA 2015-1	BSA 2015-2 (a)	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 2021	AGA 2022	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 2016-1 Performance	OSA 2016-2	OSA 2017 Ordinary	OSA 2018	OSA 2019-1	OSA LLY 2019	OSA 2020	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

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 deposits paid	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

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

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	ERNST & YOUNG
Auditor Firm ID	1704
Auditor Location	Paris-La Défense, France

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										59.00%
Maturity (in years) \| yr										5,000
Risk-free rate										0.19%
Yield										0.00%
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									0.00%
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									58.00%
OSA 2016-2 \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility									62.00%
OSA 2016-2 \| Tranche three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility									59.00%
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								0.00%
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								58.00%
OSA 2017 Ordinary \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility								61.00%
OSA 2017 Ordinary \| Tranche three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility								59.00%
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							35.00%
Risk-free rate							0.00%
Yield							0.00%
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						0.00%
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					37.00%
Maturity (in years) \| yr					10,000
Risk-free rate					0.40%
Yield					0.00%
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				38.00%
Maturity (in years) \| yr				10,000
Risk-free rate				0.31%
Yield				0.00%
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			0.00%
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			0.00%
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		0.00%
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		0.00%
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	0.00%
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	0.00%
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	€ 5.00
Yield	0.00%
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

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														256.00%
Maturity (in years)														7 years
Risk-free rate														0.90%
Yield														0.00%
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													58.00%
Risk-free rate													0.64%
Yield													0.00%
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												0.00%
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												58.00%
BSPCE 2015-1 \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility												62.00%
BSPCE 2015-1 \| Tranche three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility												61.00%
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											0.00%
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											61.00%
BSPCE 2015-3 \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility											62.00%
BSPCE 2015-3 \| Tranche three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility											61.00%
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									0.00%
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									59.00%
BSPCE 2016 Ordinary \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility									62.00%
BSPCE 2016 Ordinary \| Tranche three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility									60.00%
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									59.00%
Maturity (in years)									5 years
Risk-free rate									0.19%
Yield									0.00%
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								0.00%
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								58.00%
BSPCE 2017 Ordinary \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility								61.00%
BSPCE 2017 Ordinary \| Tranche three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility								59.00%
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								59.00%
Maturity (in years)								5 years
Risk-free rate								0.11%
Yield								0.00%
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								59.00%
Maturity (in years)								5 years
Risk-free rate								0.11%
Yield								0.00%
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								59.00%
Maturity (in years)								5 years
Risk-free rate								0.11%
Yield								0.00%
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															156.00%
Maturity (in years)															6 years
Risk-free rate															0.90%
Yield															0.00%
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													57.00%
Maturity (in years)													5 years
Risk-free rate													0.41%
Yield													0.00%
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												58.00%
Maturity (in years)												5 years
Yield												0.00%
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										0.00%
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										58.00%
BSA 2015-2 \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility										58.00%
BSA 2015-2 \| Tranche three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility										57.00%
BSA 2015-2 \| Tranche four
Disclosure of terms and conditions of share-based payment arrangement [line items]
Volatility										58.00%
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							38.00%
Maturity (in years)							4 years 9 months 18 days
Yield							0.00%
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						38.00%
Maturity (in years)						4 years 9 months 18 days
Yield						0.00%
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					37.00%
Yield					0.00%
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			38.00%
Maturity (in years)			10 years
Yield			0.00%
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		0.00%
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							€ 0.00
Risk-free rate							0.00%
Yield							0.00%
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					€ 0.00
Yield					0.00%
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				€ 0.00
Yield				0.00%
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		€ 0.00
Yield		0.00%
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	€ 0.00
Yield	0.00%
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	0.00%
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	3.00%
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	€ 0.00
Yield	0.00%
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	3.00%
AGA 2023 - P2 \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Risk-free rate	3.20%