0001628280-21-006685 | 20-F/A | XBRL Viewer

Total revenues and other income

€ 50

€ 68

€ 116

Other income

2,462

2,473

3,363

2,512

2,541

3,479

Research and development expenses

(24,330)

(30,411)

(20,893)

Selling, general and administrative expenses

(14,611)

(18,909)

(12,653)

Total operating expenses

(38,941)

(49,320)

(33,546)

Operating income (loss)

(36,428)

(46,779)

(30,067)

Financial income

201

837

1,172

Financial expenses

2,646

(4,970)

(1,449)

Financial income (loss)

2,847

(4,133)

(277)

Income tax

(9)

(3)

Basic loss per share (in euro per share)

€ (33,590)

€ (50,915)

€ (30,345)

€ (1.38)

€ (2.35)

€ (1.55)

Diluted loss per share (in euro per share)

€ (1.38)

€ (2.35)

€ (1.55)

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

STATEMENTS OF CONSOLIDATED COMPREHENSIVE LOSS - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Statement of comprehensive income [abstract]

Actuarial gains and losses on retirement benefit obligations (IAS 19)

€ (33,590)

€ (50,915)

€ (30,345)

^[1]

(4)

(48)

Tax impact

Other comprehensive loss that will not be reclassified subsequently to income or loss

(4)

(48)

Currency translation adjustment

125

(36)

(85)

Tax impact

Other comprehensive income that may be reclassified subsequently to income or loss

125

(36)

(85)

€ (33,469)

€ (50,863)

€ (30,478)

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

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

Number of shares outstanding at beginning of period (in shares) at Dec. 31, 2017

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 2020-01-01
-Paragraph 18
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2020-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2020-01-01

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2020-01-01
-Paragraph 24
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2020-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2020-01-01

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2020-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2020-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2020-01-01

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 28
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2020-01-01

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
-Number 4
-IssueDate 2020-01-01
-Paragraph 39L
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=4&code=ifrs-tx-2020-en-b&anchor=para_39L_e&doctype=Standard
-URIDate 2020-01-01

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 23
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_23&doctype=Standard
-URIDate 2020-01-01

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2020-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2020-01-01

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2020-01-01

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2021-01-01
-Name IFRS
-Number 17
-IssueDate 2020-01-01
-Paragraph 113
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2020-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2020-01-01

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
-Paragraph 81A
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2020-01-01

+ Details

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

Other reserves

Net loss for the period

19,633,373

Equity at beginning of period at Dec. 31, 2017

€ 43,922,000

€ 589,000

€ 123,782,000

€ 514,000

€ (27,000)

€ (54,793,000)

€ (26,143,000)

Currency translation adjustments

(30,345,000)

^[1]

(30,345,000)

(85,000)

Actuarial gains and losses (IAS 19)

(48,000)

Allocation of prior period loss

(30,478,000)

(133,000)

(30,345,000)

(26,143,000)

26,143,000

U.S. Initial public offering costs

59,000

47,000

12,000

Share based payment

1,867,000

Treasury shares

(97,000)

(1,030,000)

Number of shares outstanding at end of period (in shares) at Dec. 31, 2018

59,000

47,000

12,000

19,633,373

Equity at end of period at Dec. 31, 2018

14,243,000

€ 589,001.19

122,799,000

381,000

(124,000)

(79,057,000)

(30,345,000)

Number of shares outstanding at beginning of period (in shares) at Dec. 31, 2017

19,633,373

Equity at beginning of period at Dec. 31, 2017

43,922,000

€ 589,000

123,782,000

514,000

€ (27,000)

(54,793,000)

(26,143,000)

Number of shares outstanding at end of period (in shares) at Dec. 31, 2019

22,415,039

15,723

Equity at end of period at Dec. 31, 2019

(1,908,000)

€ 672,451.17

153,139,000

433,000

€ (169,000)

(105,070,000)

(50,915,000)

Number of shares outstanding at beginning of period (in shares) at Dec. 31, 2018

19,633,373

Equity at beginning of period at Dec. 31, 2018

14,243,000

€ 589,001.19

122,799,000

381,000

(124,000)

(79,057,000)

(30,345,000)

Currency translation adjustments

(50,915,000)

(36,000)

Actuarial gains and losses (IAS 19)

88,000

Allocation of prior period loss

(50,863,000)

52,000

(50,915,000)

(30,345,000)

30,345,000

Capital increase, net

28,079,000

€ 77,000

28,002,000

U.S. Initial public offering costs

21,000

8,000

13,000

Share based payment

4,320,000

Treasury shares

(45,000)

€ (45,000)

1,030,000

Capital increase (in shares)

2,566,666

BSPCE exercise (in shares)

215,000

BSPCE exercise

1,306,000

€ 6,000

1,300,000

Number of shares outstanding at end of period (in shares) at Dec. 31, 2019

21,000

8,000

13,000

22,415,039

15,723

Equity at end of period at Dec. 31, 2019

(1,908,000)

€ 672,451.17

153,139,000

433,000

€ (169,000)

(105,070,000)

(50,915,000)

Currency translation adjustments

(33,590,000)

125,000

Actuarial gains and losses (IAS 19)

(4,000)

Allocation of prior period loss

(33,469,000)

121,000

(33,590,000)

(50,915,000)

50,915,000

Capital increase, net

102,942,000

€ 361,000

102,591,000

(10,000)

U.S. Initial public offering costs

5,000

Share based payment

2,924,000

Treasury shares

(27,000)

€ (27,000)

(10,700,000)

Capital increase (in shares)

12,017,083

Number of shares outstanding at end of period (in shares) at Dec. 31, 2020

5,000

34,432,122

12,970

Equity at end of period at Dec. 31, 2020

€ 70,468,000

€ 1,032,963.66

€ 255,735,000

€ 555,000

€ (196,000)

€ (153,070,000)

€ (33,590,000)

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

STATEMENTS OF CONSOLIDATED CASH FLOWS
€ in Thousands, $ in Millions

12 Months Ended

Dec. 31, 2020

EUR (€)

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

Cash flows used in operating activities

Elimination of other non-cash, non-operating income and expenses

€ (33,590)

€ (50,915)

€ (30,345)

^[1]

Depreciation and amortization

1,754

1,767

619

^[2]

Provisions

(48)

164

^[2]

2,924

4,320

1,867

^[2]

Cost of net debt

2,115

1,940

292

^[2]

Loss on disposals

^[2]

U.S. Initial public offering 2018 costs reversal

201

^[2]

Impact of deferred income related to financial liabilities discounting effect

(6,463)

2,833

535

^[2]

Other charges with no impact on cash

(5)

(36)

^[2]

Cash flows used in operations, before tax and changes in working capital

(33,300)

(39,647)

(27,063)

^[2]

(Increase) / Decrease in trade receivables

(51)

(85)

144

^[2]

Decrease in Research tax credit receivable

5,688

3,260

^[2]

Increase in other receivables

(721)

(4,640)

(3,958)

^[2]

Increase (Decrease) in trade and other payables

(995)

2,057

633

^[2]

Increase in other current liabilities

1,840

1,146

999

^[2]

Changes in operating working capital

5,762

(1,522)

1,078

^[2]

Net cash flows used in operating activities

(27,538)

(41,169)

(25,985)

^[2]

Cash flows from (used in) investing activities

Acquisitions of intangible assets

(11)

(353)

(90)

^[2]

Acquisitions of property, plant and equipment

(96)

(1,091)

(416)

^[2]

Addition in non-current financial assets

(4)

(16)

577

^[2]

Net cash flows from (used in) investing activities

(112)

(1,459)

^[2]

Cash flows from financing activities

Capital increases

113,650

29,517

^[2]

Warrants subscription

1,327

^[2]

Transaction costs

(10,359)

(1,438)

(279)

^[2]

Payments of lease liabilities

10,350

14,000

16,000

^[2]

Decrease in loans

(250)

(500)

(927)

^[2]

^[3]

(928)

(1,067)

^[2]

Interest paid

(700)

(350)

(3)

^[2]

Net cash flows from financing activities

111,769

41,489

14,850

^[2]

Effect of exchange rates changes on cash

(63)

^[2]

Net increase (decrease) in cash and cash equivalents

84,056

(1,109)

(11,009)

^[2]

Net cash and cash equivalents at beginning of period

35,094

36,203

^[2]

47,212

^[2]

Net cash and cash equivalents at end of period

€ 119,151

€ 35,094

€ 36,203

^[2]

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)
[2]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)
[3]	Lease contracts in the IFRS 16 scope (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases effective from January 1, 2019)

Company information	12 Months Ended
Company information	Dec. 31, 2020
Disclosure Of Information Related To The Company [Abstract]
Company information	Company information Presentation of the Company Nanobiotix S.A. was incorporated in 2003 as a spin-off from the State University of New York (SUNY) in Buffalo. Nanobiotix S.A. (together with its subsidiaries, the “Company”), is headquartered in Paris, France. The Company is a clinical-stage biotechnology company focused on developing first-in-class product candidates that use proprietary nanotechnology to transform cancer treatment, as well as the utility and efficacy of radiotherapy. Its lead product candidate, NBTXR3, is an aqueous suspension of functionalized crystalline metallic nanoparticles approximately 50 nanometers (50 billionths of a meter) in diameter, designed for injection directly into a malignant tumor. When exposed to ionizing radiation, NBTXR3 amplifies the localized, intratumor killing effect of that radiation. NBTXR3 is designed to enhance the overall efficacy of radiotherapy without resulting in additional side effects on the surrounding healthy tissues. Alongside the Company’s core NBTXR3 development program, the Company is also pursuing a development program to explore the use of radiotherapy-activated NBTXR3 in combination with immune checkpoint inhibitors across several solid tumor indications. The Company is listed on the Euronext regulated market in Paris (under the ticker symbol “NANO”; Code ISIN: FR0011341205, Bloomberg code: NANO:FP) and on the Nasdaq Global Select Market (under the ticker symbol “NBTX”). Significant events of the period Creation of the subsidiary Curadigm Corp. in January 2020 In January 2020, Curadigm Corp., a wholly-owned subsidiary of Curadigm SAS, was incorporated in the State of Delaware in the United States of America (see Note 3.1). Curadigm Corp., which is headquartered in Boston, Massachusetts, mainly operates in the United States. Nanobiotix provides updates on clinical development continuity in the context of the COVID-19 crisis The strain of coronavirus, SARS-Cov-2, which results in Coronavirus disease (‘‘COVID-19’’), was identified by the World Health Organization, or WHO, in January 2020. On March 11, 2020, COVID-19 was declared a pandemic by the WHO. On April 21, 2020, the Company announced updates to the Company’s operational and global development plan in light of the COVID-19 pandemic. The Company’s priority is to protect its employees, patients, and other partners and stakeholders. In light of the exceptional circumstances, the Company implemented proactive measures to protect the health and safety of employees, including restricting employee travel, requiring remote work arrangements for non-laboratory employees, implementing social distancing and enhanced sanitary measures in its facilities, and cancelling attendance at in-person events and conferences. The Company benefited from an exceptional measure implemented by the French government in response to the COVID-19 pandemic, referred to as the ‘‘partial unemployment measure’’ (see Note 15). In addition, under Bpifrance’s emergency fund for companies affected by COVID-19, Bpifrance allowed the Company to defer two quarterly payments of repayable OSEO/Bpifrance loan advances otherwise due in 2020. These payments will be deferred, without fees or penalties to the end of the initial reimbursement period (see Note 12). As a result of the COVID-19 pandemic, the Company has experienced, and expects to continue to experience, disruptions and adverse impacts to its business, including delays in certain clinical trial activities. Although the ultimate impact of the COVID-19 pandemic on the Company’s business is not determinable at this stage, there have not been material disruptions to the Company’s global development plan, including its priority head and neck cancer and immuno-oncology (I/O) programs. Nanobiotix obtains approval for a €10 million non-dilutive PGE loan financing On June 5, 2020, the Company received financing approval from both HSBC France and Bpifrance Financement for a total of €10 million in the form of state-guaranteed loans (‘‘Prêts Garantis par l’Etat’’, or ‘‘PGE’’). The French State will guarantee 90% of the amounts due under each of the PGE. On June 22, 2020, the Company entered into the first €5 million PGE with HSBC France (the ‘‘HSBC PGE Loan’’). The HSBC PGE Loan has an initial 12-month term during which it bears no interest. At the end of this initial term, the Company has an option to repay the principal or to amortize it over an additional period of up to five years, during which the HSBC PGE Loan would bear interest at a rate not to exceed HSBC France’s refinancing costs. The Company must pay a guarantee fee equal to 0.25% of the €5 million principal amount at the end of the initial 12-month term. If the Company decides to amortize the principal over an additional period, it will have to pay an additional guarantee fee over such amortization period at a legal rate, which will vary depending on the duration of the amortization period, being 0.50% per annum for the first two years of amortization and 1% per annum for the third, fourth and fifth year of amortization. (See Note 12). On July 10, 2020, the Company entered into the second €5 million PGE loan with Bpifrance Financement (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 will bear no interest for the first 12-month period but, following such 12-month period and for the subsequent five years, will bear 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 will be reimbursed in 20 quarterly installments as from October 31, 2021 until July 26, 2026 (See Note 12). Private placement of ordinary new shares with US and European investors On July 27, 2020, the Company raised a net amount of €18.8 million through an accelerated bookbuild offering of ordinary shares (see note 10 for details about this bookbuild-offering). Reimbursement of the 2019 and 2018 research tax credit In February 2020, the Company received 100% of the 2018 research tax credit, i.e., €3.3 million. Then in July 2020, the Company received €2.4 million for its 2019 research tax credit (see notes 8.2 and 15). Nanobiotix closed its global offering, including its initial public offering in the United States On December 7, 2020 Nanobiotix announced the start of roadshows as part of its global offering, which included its U.S. initial public offering and Nasdaq listing. The Company's American Depositary Shares (“ADSs”) began trading on the Nasdaq Global Select Market on December 11, 2020 under the symbol "NBTX". On December 15, 2020, Nanobiotix announced the full exercise of the over-allotment option granted to the underwriters for the global offering, bringing the gross proceeds of the global offering to U.S. $113.3 million (see note 10 for details about the offering). Nanobiotix subsidiary Curadigm signed a collaboration agreement with Sanofi focused on gene therapy portfolio Curadigm has been selected as part of the Sanofi iTech Award Program. Its research project integrating Nanoprimer technology is considered a very promising option to improve the gene therapy portfolio in development. Following this selection, Curadigm will enter into a one-year agreement with Sanofi including direct funding and scientific exchanges. This collaboration offers the opportunity to establish a proof of concept as a combination product that can enhance the benefits of gene therapies and improve therapeutic benefit for patients. This collaboration agreement was signed on December 14, 2020 for a total amount of €100 thousand and has no significant impact on the Company’s revenues in 2020 as the amount will be recognized over time during the contract term (see Note 15 of our consolidated financial statements).

General Information, Statement of Compliance and Basis of Presentation

12 Months Ended

Dec. 31, 2020

General Information, Statement of Compliance and Basis of Presentation [Abstract]

General Information, Statement of Compliance and Basis of Presentation

General principles

The statement of consolidated financial position as of December 31, 2020 and 2019 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, 2020, 2019 and 2018 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 March 17, 2021.

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 for additional information).

The consolidated financial statements have been prepared using the historical cost measurement basis, with the exception of financial assets and liabilities, which are measured at fair value.

The consolidated financial statements were prepared on a going concern basis. The Executive Board determined it is appropriate to apply a going concern assumption because the Company’s historical losses are due to the innovative nature of the products it is developing, which necessitates a research and development phase spanning several years. With cash and cash equivalents of €119,151 thousand as of December 31, 2020, including the proceeds from the US initial public offering in December 2020 (see Significant events of the period in the Note 1) the Company believes it has sufficient resources to continue operating for at least twelve months following the consolidated financial statements’ publication.

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, 2020. The consolidated financial statements are also compliant with IFRS as adopted by the European Union.

The accounting principles used to prepare the consolidated financial statements for the fiscal year ended December 31, 2020 are identical to those used for the previous year except for the standards listed below that required adoption in 2020.

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, 2020:

•Amendments to IAS 39, IFRS 9 and IFRS 7 related to the interest rate benchmark reform (“IBOR”);

•Amendments to IFRS 3 - Business combinations, definition of a business;

•Amendments to IFRS 16 - Covid-19 Related rent concession; and

•Amendments to References to the Conceptual Framework in IFRS standards, issued in March 2018 (Amendments to IAS 1 - Presentation of financial statements and IAS 8 - Accounting policies, change in accounting policies, change in accounting estimates and errors) – definition of material applicable for periods beginning after January 1, 2020.

The application of these standards had no impact on the consolidated financial statements of the Company.

Application of New or Amended Standards and Interpretations early adopted by the Company

The Company elected to early adopt no new standards, amendments and interpretations which application was not yet mandatory for the year ended December 31, 2020.

Application of New or Amended Standards and Interpretations not yet applied by the Company

The application of the following new standards, amendments and interpretations was not yet mandatory for the year ended December 31, 2020 :

•IFRS 17 - Insurance contracts and related amendments. No impact expected on the financial statements.

•Amendment to IAS 1 - Classification of Liabilities as Current or Non-Current. No significant impact expected on the financial statements.

•Amendment to IAS 37, Onerous Contracts — Cost of Fulfilling a Contract. No significant impact expected on the financial statements.

•Amendment to IFRS 3 – Conceptual framework. No significant impact expected on the financial statements.

•Amendments IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, phase 2. No significant impact expected on the financial statements.

2.1 Impact of IFRS 16 first application

The Company has adopted IFRS 16, Leases, as of January 1, 2019 using the modified retrospective method. Upon adoption, the Company recorded:

•a right of use asset equivalent to the initial debt, net of any lease incentives provided by the lessor and

•a lease liability for the discounted lease payments outstanding for the remaining reasonably certain lease term.

The Company’s equity was not impacted by the first application of IFRS 16. The application of IFRS 16 has no impact on the Company’s cash and cash equivalents.

The main operating leases falling within the scope of IFRS 16 are the leases entered into for the Company’s headquarters and research buildings.

The Company used the following practical expedients:

•the use of a single discount rate to a portfolio of leases with reasonably similar characteristics;

•the reliance on previous assessments on whether leases are onerous;

•the exclusion of payments related to operating leases with a remaining lease term of less than 12 months without option to buy (short-term leases) and leases related to low-value assets recorded in operating expenses (as under IAS 17);

•the exclusion of initial direct costs for the measurement of the right-of-use asset at the date of initial application; and

•the use of hindsight in determining the lease term where the contract contains options to extend or terminate the lease.

On adoption of IFRS 16, the Company recognized the “lease liabilities” in relation to leases which had previously been classified as “operating leases” under the principles of IAS 17 Leases. These liabilities were measured at the present value of the remaining lease payments, discounted using the lessee’s incremental borrowing rate as of January 1, 2019.

The discount rate used at the transition date corresponds to the incremental borrowing rate that would be obtained for a loan entered into for an equivalent period as the remaining duration of the on-going lease contracts at the transition date. For future contracts, and in the absence of an implicit rate, the same method will be used. The weighted average incremental borrowing rates applied to the lease liabilities on January 1, 2019 are 4.87% for transport equipment and 5.33% for buildings.

As the Company applied IFRS 16 following the modified retrospective method, the comparative financial statements as of and for the year ended December 31, 2018 are not restated. The following tables detail the main impacts of IFRS 16 as of the date of first application.

Reconciliation between the Company’s operating leases commitments as of December 31, 2018 and the lease liability as of January 1, 2019


(in thousands of euros)
Operating lease commitments disclosed as at December 31, 2018						6,407
Rent reevaluated with the 2019 index (1)						294
2018 contracts not previously included in commitments						216
Discounting impact of lines above						(1,234)
Prepaid expenses related to IFRS 16 contracts as of December 31, 2018						(114)
Lease liabilities recognized as at January 1, 2019						5,569
Of which:
Current lease liabilities						741
Non-current lease liabilities						4,828

(1) As of January 1, 2019, the lease payments were updated to take into account the lease payment increase required under the lease agreements based on various indices. This amount corresponds to the impact of these indices application to the operating leases commitments disclosed as of December 31, 2018.

At the date of first-time application under the modified retrospective method, there was no significant impact on reserves. During 2019 and 2020, the Company recorded in the income statement an interest expense associated with the leases as a financial charge (see Note 12.1) and the amortization of the right of use (see Note 6).

Impact of IFRS 16 first application on the statement of financial position (increase/(decrease)) at the date of initial application (January 1, 2019)


	As of December 31, 2018	IFRS 16 impacts	As of January 1, 2019
(in thousands of euros)	(As published)		(IFRS16 restated)
ASSETS
Total non-current assets	3,544	5,500	9,044
Of which Property, plant and equipment	2,884	5,500	8,384
Total current assets	42,651	(114)	42,537
Of which Other current assets	6,422	(114)	6,308
TOTAL ASSETS	46,195	5,386	51,581

LIABILITIES AND SHAREHOLDERS’ EQUITY
Total shareholders’ equity	14,243	—	14,243
Total non-current liabilities	20,358	4,828	25,186
Of which Non-current financial liabilities	20,021	4,828	24,849
Total current liabilities	11,597	558	12,155
Of which Current financial liabilities	500	741	1,241
Of which Other current liabilities	4,533	(183)	4,350
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	46,195	5,386	51,581

Consolidation principles and methods	12 Months Ended
Consolidation principles and methods	Dec. 31, 2020
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, an entity is consolidated when it is controlled by the Company. The Company has decision-making authority over the financial and operating policies of all its subsidiaries and holds greater than 50% of the voting rights of each subsidiary. 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 were $1.2271 as of December 31, 2020 and an average of $1.1413 for the year ended December 31, 2020 (source: Banque de France) compared with $1.1234 and $1.1196, for 2019 and $1.1450 and $1.1815 for 2018, 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, 2020, the Company involves 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 Boston, Massachusetts. Accordingly, the consolidated financial statements as of and for the year ended December 31, 2020 include the operations of each of these subsidiaries from the date of their incorporation. The consolidated financial statements as of and for the year ended December 31, 2019 include the operations of each of these subsidiaries from the date of their incorporation, excluding Curadigm Corp, which was created in 2020. The consolidated financial statements as of and for the year ended December 31, 2018 include the operations of each of these subsidiaries from the date of their incorporation, excluding Curadigm Corp and Curadigm SAS, which were respectively created in 2020 and 2019. 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. The main items affected by the use of estimates are share-based payments, deferred tax assets, clinical trials accruals, revenue recognition and the fair value of financial instruments. 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., vesting terms) and market data (e.g., expected share volatility) (see Note 11). 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 temporary differences 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 (see Note 19). 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 income projections judged to be sufficiently reliable to be made, the Company has not recognized deferred tax assets in relation to tax losses 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 for information regarding the clinical trial accruals as of December 31, 2020 and 2019. Revenue recognition In order to determine the amount and timing of revenue under the contract with PharmaEngine, the Company is required to use significant judgments, mainly with respect to identifying performance obligations of the Company and determining the timing of satisfaction of support services provided to PharmaEngine. See Note 15 for additional detail regarding the Company’s accounting policies for its additional sources of revenue. Fair value of financial assets and liabilities The fair value measurement of the loan granted by European Investment Bank (“EIB”) requires the Company to assess 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 on January 1, 2021. 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 the Company’s annual sales turnover. For the purpose of measuring the fair value of the EIB loan, the Company forecasts the sales that it expects to generate during the royalty period, taking into consideration the operational assumptions such as market release dates of the products, growth and penetration rate in each market. (see notes 4.2 and 12 for details about this loan and the accounting treatment applied).

Significant transactions	12 Months Ended
Significant transactions	Dec. 31, 2020
Disclosure of transactions between related parties [abstract]
Significant transactions	Significant transactions 4.1 PharmaEngine In August 2012, the Company entered into an Exclusive License and Collaboration Agreement (as amended in 2014, the ‘‘License and Collaboration Agreement’’) with PharmaEngine, a biopharmaceutical company specializing in the development of new drugs for the treatment of cancer in Asia. Under the terms of the License and Collaboration Agreement, PharmaEngine will receive the exclusive right to further develop NBTXR3 to obtain regulatory approval, leverage the data generated by the Company’s development activities and commercialize NBTXR3 in multiple countries throughout the Asia-Pacific region. Under the same Agreement, PharmaEngine is responsible for developing (non-clinical and clinical research) and commercializing NBTXR3 throughout the contractual territory and making certain development and minimum commercial milestone payments to the Company. Key provisions of the License and Collaboration Agreement include: •An exclusive perpetual license granted to PharmaEngine, with the right to sublicense the Company’s technology in order to exploit or have NBTXR3 exploited and use the Company’s trademark in connection with the exploitation of NBTXR3 in the contractual territory (with exploitation including among others developing, obtaining and maintaining regulatory approval, commercializing, distributing, promoting and marketing); •The Company’s commitment to furnish PharmaEngine with know-how necessary and useful to develop and commercialize NBTXR3 in the contractual territory, know-how meaning any results of experimentation and pre-clinical, clinical and non-clinical trial data by providing PharmaEngine with access to an electronic data platform; and •The Company’s commitment to supplying or having supplied PharmaEngine with all quantities of NBTXR3 required and used by PharmaEngine for clinical testing and subsequent commercialization if and when regulatory approvals are obtained. In return, PharmaEngine commits to use commercially reasonable efforts to develop NBTXR3 in the contractual territory at PharmaEngine’s cost. Under the License and Collaboration Agreement, the Company has received and/or is entitled to receive: •A $1.0 million up-front payment on signature of the contract, fully received in 2012; •Payments upon the achievement of development milestones, including key stages of product development, first filing for regulatory approval, and first regulatory approval in the contractual territory; •Payments upon the achievement of commercial milestones based on specified sales thresholds; •Up to double-digit royalties based on net product sales in the Asia-Pacific region; and •Payments for the supply of NBTXR3. Potential development and commercial milestone payments, including those paid to date, amount to an aggregate of up to $56 million. The Company and PharmaEngine amended the agreement in October 2014, as part of which PharmaEngine agreed: •To join the global pivotal clinical trial of NBTXR3 for the treatment of Soft Tissue Sarcoma sarcoma initiated by the Company in the Asia-Pacific area, with each party committing itself to share clinical trial results in order to increase the tested population and to accelerate growth and value creation; •To pay the first development milestone ($1 million, received by the Company in 2014) and share external clinical research organization costs charged to the Company in proportion to its contribution in recruiting the patient population included in the clinical trial; and •To pay the development milestone ($1 million, received by the Company in 2016) related to the launch of the first Phase II of the pivotal study. As of December 31, 2020, $3.0 million has been received since the signature of the License and Collaboration Agreement. The next potential milestone payment under the agreement will become payable only if PharmaEngine files a commercialization authorization of NBTXR3 in their region. In November 2020, Nanobiotix notified PharmaEngine of a material breach of the terms of the License and Collaboration agreement. While both Nanobiotix and PharmaEngine believe in the potential of NBTXR3 to improve treatment outcomes for patients with cancer, the parties have had disagreements regarding the optimal strategy for development in the Asia-Pacific region. As such, after discussion between the two parties, Nanobiotix and PharmaEngine have mutually agreed to discontinue the collaboration. This agreement to terminate the License and Collaboration agreement represents a full resolution of outstanding disagreements over a number of issues with respect to the development of NBTXR3 in the Asia-Pacific region. See Note 24 – Subsequent events for additional detail regarding the collaboration of the termination and see Note 15 for additional detail regarding the accounting policy applied to the License and Collaboration Agreement. 4.2 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 is divided in three tranches: •a first tranche of €16 million, received in October 2018, subject to a 6% fixed rate and that will be fully repaid within five years of disbursement; •a second tranche of €14 million, received in March 2019, subject to a 5% fixed rate, that with repayments beginning in 2021 and continuing into 2024; and, •a last tranche of €10 million, subject to a 4% fixed interest rate, that will be fully repaid after a period of five years, which begins within one year of obtaining it. The Company has not yet met the criteria to request this tranche. 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 royalty rates, which vary according to the number of tranches that have been drawn, and indexed on the Company’s annual sales turnover. The €14 million second tranche, which was received in March 2019, was disbursed on the basis of achieving the following criteria: •Determination of the recommended dose at 22% of the tumor volume for head and neck cancers treatment following the end of the Phase I clinical trial with NBTXR3; and •Positive evaluation of the clinical benefit/risk ratio of NBTXR3 in the Phase II/III clinical trial in soft tissue sarcomas by the clinical expert mandated by the French notified body covering medical devices, GMED. See Note 22 for discussion of royalties that may be due in the case of early repayment or change of control after repayment of the loan. 4.3 Collaboration Agreement with the University of Texas MD Anderson Cancer Center In January 2019, the Company and the University of Texas MD Anderson Cancer Center, world prominent center of research, education, prevention and care for cancer patients announced a large-scale research collaboration. The collaboration will support multiple new Phase I/II clinical trials involving around 340 patients with Nanobiotix’s first-in-class agent NBTXR3 for use in treating several cancer types –, including head and neck, pancreatic, thoracic, lung, gastrointestinal and genitourinary cancers. 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 will be made in the six months following patients enrollment, with the balance payable 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. The milestone payment increases on an annual basis ranging from $2.2 million to $16.4 million. As of December 31, 2020 and 2019, the Company recognized prepaid expenses for €1.6 million and €1.7 million respectively. Expenses will be 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.

Intangible assets

12 Months Ended

Dec. 31, 2020

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 2020 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 36.

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, 2020	Increases	Decreases	Transfer	As of December 31, 2020
Patents	65	—	—	—	65
Software	584	11	(5)	61	651
Intangible assets in progress	61	—	—	(61)	—
Gross book value of intangible assets	710	11	(5)	—	717
Patents	(65)	—	—	—	(65)
Software	(483)	(152)	5	(0)	(630)
Accumulated depreciation of intangible assets (1)	(548)	(152)	5	—	(695)
Net book value of intangible assets	163	(141)	—	(0)	21

(1)Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses


(in thousands of euros)	As of January 1, 2019	Increases	Decreases	Transfer	As of December 31, 2019
Patents	65	—	—	—	65
Software	293	291	—	—	584
Intangible assets in progress	—	61	—	—	61
Gross book value of intangible assets	358	353	—	—	710
Patents	(65)	—	—	—	(65)
Software	(191)	(292)	—	—	(483)
Accumulated depreciation of intangible assets (1)	(256)	(292)	—	—	(548)
Net book value of intangible assets	102	61	—	—	163

(1)Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses

The 2019 increase in intangible assets in progress is due to the purchase and implementation of a Human Resources software. No impairment losses were recognized in application of IAS 36 - Impairment of Assets in the periods presented.

Property, plant and equipment

12 Months Ended

Dec. 31, 2020

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, 2020	Increases	Decreases	Other movements & transfer.	Currency translation	As of December 31, 2020
Fixtures, fittings and installations	3,297	16	—	—	—	3,313
Right of use – Buildings	6,766	418	(14)	—	—	7,171
Technical equipment	2,019	42	—	—	—	2,061
Office and IT equipment	957	37	(1)	—	(4)	988
Transport equipment	34	—	—	—	(3)	31
Right of use – Transport equipment	115	—	(41)	(5)	(4)	65
Tangible assets in progress	11	1	—	(11)	—	1
Prepayments on tangible assets	—	0	—	—	—	0
Gross book value of tangible assets	13,197	515	(57)	(15)	(11)	13,630
Fixtures, fittings and installations	(1,001)	(320)	—	—	—	(1,320)
Right of use – Buildings	(829)	(911)	—	2	—	(1,739)
Technical equipment	(1,272)	(194)	—	—	—	(1,466)
Office and IT equipment	(629)	(157)	1	—	2	(783)
Transport equipment	(34)	—	—	1	3	(31)
Right of use – Transport equipment	(45)	(35)	42	—	1	(36)
Accumulated depreciation of tangible assets(1)	(3,811)	(1,616)	43	4	6	(5,374)
Net book value of tangible assets	9,386	(1,101)	(14)	(12)	(4)	8,256

(1)Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses

The €418 thousand increase in Right of use – Buildings mainly relates to:

•two new lease contracts: one in Oberkampf Street in Paris, France for €155 thousand, the other in Faubourg Saint-Antoine in Paris, France for €140 thousand,

•the termination of a lease contract by Curadigm SAS for €43 thousand;

•The addition of a parking under the leases for the Villejuif facility for €30 thousand, and

•the impact of an annual rent adjustment for the Wattignies and Villejuif leases based on the INSEE (National Institute of Statistics and Economic Studies) index for €35 and €15 thousand, respectively.


(in thousands of euros)	As of January 1, 2019	Increases	Decreases	Other movements & transfer.	As of December 31, 2019
Fixtures, fittings and installations	2,480	815	—	2	3,297
Right of use – Buildings	5,416	1,349	—	—	6,766
Technical equipment	1,925	120	—	(25)	2,019
Office and IT equipment	828	145	(13)	(4)	957
Transport equipment	33	—	—	—	34
Right of use – Transport equipment	83	82	(51)	—	115
Tangible assets in progress	—	11	—	—	11
Prepayments on tangible assets	2	—	—	(2)	—
Gross book value of tangible assets	10,768	2,522	(64)	(29)	13,197
Fixtures, fittings and installations	(750)	(251)	—	—	(1,001)
Right of use – Buildings	—	(829)	—	—	(829)
Technical equipment	(1,123)	(175)	—	25	(1,272)
Office and IT equipment	(483)	(162)	12	4	(629)
Transport equipment	(28)	(6)	—	—	(34)
Right of use – Transport equipment	—	(55)	10	—	(45)
Accumulated depreciation of tangible assets(1)	(2,384)	(1,478)	22	29	(3,811)
Net book value of tangible assets	8,384	1,044	(42)	—	9,386

(1)Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses

As of January 1, 2019, the Company applied the new standard IFRS 16 (see Note 2.1 for further details on the impact of IFRS 16 first application). Therefore €5.5 million of right of use assets have been accounted for in the opening statement of financial position (as at January 1, 2019), of which €5.4 million, or 98%, are related to the buildings lease contracts.

In 2019, the increase of €2.5 million is primarily due to the new lease contract of Nanobiotix France entered into for the 5th floor of 60, rue de Wattignies, which resulted in the acquisition of €815 thousand of additional fixtures, fittings and installations and an additional right of use of €1.3 million.

In 2019, the Company also acquired office, IT and technical equipment to meet the needs of the increased staffing level.

Non-current financial assets

12 Months Ended

Dec. 31, 2020

Disclosure of financial assets [abstract]

Non-current financial assets

Accounting policies

Non-current financial assets are recognized and measured in accordance with IFRS 9 – Financial Instruments.

Pursuant to IFRS 9 – Financial Instruments, financial assets are classified in two categories according to their nature and the intention of management:

•Financial assets at fair value through profit and loss; 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 and liabilities 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.

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)	Other long- term investments pledged as collateral	Security deposits paid	Total
Net book value as of December 31, 2018	176	—	383	558
Additions	—	—	65	65
Decreases	(45)	—	(49)	(94)
Net book value as of December 31, 2019	131	—	399	529
Additions	—	—	9	9
Decreases	(27)	—	(5)	(31)
Currency translation adjustments	—	—	(2)	(2)
Net book value as of December 31, 2020	105	—	401	505

(1)See note 10.2 Treasury shares

In 2020, non-current financial assets decreased by €24 thousand compared to 2019. In 2019, non-current financial assets decreased by €29 thousand compared to 2018. In 2019, the Security deposits paid increased by €16 thousand, mainly due to the new €65 thousand deposit paid in connection with the headquarters’ lease contract addendum signed in January 2019 for the lease of additional space, partially offset by the utilization of €48 thousand worth of deposits for a minor manufacturing site.

The decrease of the liquidity contract – cash account corresponds to treasury shares transactions whose counterpart is recorded as capital on the "treasury shares" line in the statement of change in shareholders’ equity.

Trade receivables and other current assets

12 Months Ended

Dec. 31, 2020

Subclassifications of assets, liabilities and equities [abstract]

Trade receivables and other current assets

Note 8. Trade receivables and other current assets

Accounting policies for trade receivables and other current assets are described in Note 7.

8.1 Trade receivables

Trade receivables relate mainly to invoices issued to PharmaEngine, in connection with the charging-back of shared external clinical research organization costs under the License and Collaboration Agreement as amended (see Note 4 for more detail on the License and Collaboration Agreement).


	As of December 31,
(in thousands of euros)	2020	2019
Trade receivables	62	11
Trade receivables	62	11

Trade receivables break down as follows:


	As of December 31,
(in thousands of euros)	2020	2019
Due in 3 months or less	62	11
Due between 3 and 6 months	—	—
Due between 6 and 12 months	—	—
Due after more than 12 months	—	—
Trade receivables	62	11

8.2 Other current assets

Other current assets break down as follows:


	As of December 31,
(in thousands of euros)	2020	2019
Research tax credit receivable	1,927	5,688
VAT receivable	971	1,419
Prepaid expenses	2,217	2,671
Other receivables	920	1,245
Other current assets	6,035	11,022

As of December 31, 2020, prepaid expenses mainly relate to research agreements for €1.6 million, to the MD Anderson agreement (see Note 4 – Significant transactions).

As of December 2019, prepaid expenses were mainly due to research agreements for €2.3 million, including €1.7 million related to the collaboration agreement with MD Anderson. The residual €358 thousand comprised miscellaneous prepaid expenses such as consultancy fees, insurances, maintenance costs or travel expenses, each for an individual amount less than €70 thousand.

Other receivables mainly comprised advances paid to suppliers in the amounts of €805 thousand, €1,150 thousand as of December 2020 and 2019.

Research tax credit

The Company receives a 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 2020 was €1.9 million (€1.9 million for Nanobiotix S.A. and €69 thousand for Curadigm SAS), while the amount for 2019 was €2.4 million (€2.4 million for Nanobiotix S.A. and €64 thousand for Curadigm SAS).

The 2019 research tax credit was collected by the Company in July 2020, while the 2018 research tax credit was collected in February 2020.

The change in research tax credit receivables breaks down as follows:


(in thousands of euros)
Receivable as of January 1, 2019			3,251
2019 research tax credit - Nanobiotix SA & Curadigm SAS			2,437
Receivable as of December 31, 2019			5,688
Refund of 2018 research tax credit – Nanobiotix SA			(3,251)
Refund of 2019 research tax credit – Nanobiotix SA			(2,374)
Refund of 2019 research tax credit – Curadigm SAS			(64)
2020 research tax credit – Nanobiotix SA			1,858
2020 research tax credit – Curadigm SAS			69
Receivable as of December 31, 2020			1,927

Cash and cash equivalents

12 Months Ended

Dec. 31, 2020

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:


(in thousands of euros)	As of December 31, 2020	As of December 31, 2019
Short-term bank deposits	—	10,000
Cash and bank accounts	119,151	25,094
Net cash and cash equivalents	119,151	35,094

Short-term bank deposits mainly comprise interest-bearing term deposits held as part of the Company's financial management strategy that may be converted to cash without any substantial penalty.

As of December 31, 2020, Cash and bank accounts increased by €94,057 thousand as compared with December 31, 2019, mainly due to:

•the closing of the U.S. initial public offering on the Nasdaq and the related exercise of the underwriters’ option to purchase additional ADSs in December 2020, which resulted in aggregate net proceeds, after deducting underwriting commissions and offering expenses payable by Nanobiotix, of $100.4 million (€82.8 million); and,

•the €18.6 million net proceeds from the private placement capital increase in 2020; and,

•the total €10 million “PGE” loan obtained from HSBC and Bpifrance in June and July 2020, respectively.

All short-term bank deposits were converted into cash during the year ended December 31, 2020. Therefore the Company does not have any short-term bank deposits as of December 31, 2020.

Share capital

12 Months Ended

Dec. 31, 2020

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

Share capital

Share Capital

10.1 Capital issued

Accounting policies

Ordinary shares are classified in shareholders’ equity. The cost of equity transactions that are directly attributable to the issue of new shares or options is recognized in shareholders’ equity as a deduction from the proceeds of the issue.

Detail of share capital transactions


(in thousands or number of shares)	Nature of transaction	Share Capital	Premiums related to share capital	Number of shares
January 1, 2019		589	122,799	19,633,373
March 29, 2019	Grant of 2019 free shares	—	(13)	—
April 9, 2019	Capital increase	77	29,440	2,566,666
April 9, 2019	Cost of capital increase	—	(1,438)	—
April 25, 2019	Exercise of 2012 founder’s warrants	5	955	160,000
May 1, 2019	Subscription of 2019 warrants	—	3	—
May 21, 2019	Subscription of 2019 warrants	—	6	—
June 24, 2019	Subscription of 2019 warrants	—	3	—
June 25, 2019	Subscription of 2019 warrants	—	3	—
June 28, 2019	Subscription of 2019 warrants	—	5	—
July 17, 2019	Exercise of 2013 founder’s warrants	2	345	55,000
December 31, 2019	U.S. Initial public offering costs reversal	—	1,030	—
December 31, 2019		672	153,139	22,415,039
March 6, 2020	Capital increase	9	0	316,083
June 24, 2020	Subscription of 2020 warrants	—	1	—
June 26, 2020	Subscription of 2020 warrants	—	1	—
June 29, 2020	Subscription of 2020 warrants	—	2	—
June 30, 2020	Subscription of 2020 warrants	—	1	—
July 27, 2020	Capital increase	—	—	6,000
July 28, 2020	Private placement Capital increase	99	20,030	3,300,000
July 28, 2020	Private placement Capital increase transaction costs	—	(1,387)	—
December 16, 2020	U.S. Initial public offering initial deal € - Nasdaq (€11.14)	56	20,609	1,855,000
December 16, 2020	U.S. Initial public offering initial deal $ - Nasdaq ($13.50)	163	60,494	5,445,000
December 18, 2020	U.S. Initial public offering green shoe $ - Nasdaq ($13.50)	33	12,165	1,095,000
December 18, 2020	U.S. Initial public offering costs	—	(9,322)	—
December 31, 2020		1,033	255,735	34,432,122

As of December 31, 2020, the share capital was €1,032,963.66 divided into 34,432,122 fully paid in ordinary shares each with a par value of €0.03, as compared with the 2019 share capital of €672,451.17 divided into 22,415,039 fully paid in ordinary shares, each with a par value of €0.03 and the 2018 share capital of €589,001.19 divided into 19,633,373 fully paid in ordinary shares each with a par value of €0.03.

In 2019, the increase in share capital is mainly related to the issue of 2,566,666 new ordinary shares with a par value of €0.03 each at an issue price of €11.50 resulting in a capital increase of €77 thousand plus a premium of €29.4 million.

In 2020, the increase in share capital is mainly related to the U.S. initial public offering, which closed in December 2020. In the global offering, a total of 8,395,000 ordinary shares was issued, as follows:

•5,445,000 ordinary shares in the form of ADSs were issued in the United States at $13.50 per ADS;

•1,855,000 ordinary shares were issued through a concurrent offering in certain jurisdictions outside of the United States to certain investors at €11.14 per ordinary share; and,

•the underwriters for the global offering exercised in full their option to purchase 1,095,000 additional ADSs at the same public offering price of $13.50 per ADS.

As of December 31, 2019, the transaction costs related to the delayed initial public offering, incurred in 2018, which were initially recorded as a reduction to premiums related to share capital, as well as those incurred in 2019, were written off to expense and included within selling, general and administrative expenses on the statement of operations.

As of December 31, 2020, €10.7 million of transaction costs had been recorded, €9.3 million of which were related to the initial public offering in the United States, and are recognized as a reduction to premiums related to share capital. Those transaction costs are almost paid in full, with only €349 thousand booked in accounts payable as of December 31, 2020.

10.2 Treasury shares

On December 31, 2020, the Company held 12,970 treasury shares under a liquidity contract compared to 15,723 treasury shares as of December 31, 2019. This liquidity contract complies with the general regulations of, and market practices accepted by, the French Financial Markets Authority (“AMF”), entered into following the Company’s French initial public offering in 2012. These shares were deducted from IFRS equity in the amount of €196 thousand and €169 thousand as of December 31, 2020 and 2019, respectively.

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

As of December 31, 2020 and 2019, the Company had the following type of equity plans in place: warrant (BSA) plans, founders’ warrant (BSPCE) plans, stock option (OSA) plans and free shares (AGA) plans.

The following tables summarize activity in these plans during the years ended December 31, 2020 and 2019.

BSA


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2020	Issued	Exercised	Forfeited	Outstanding at December 31, 2020	Number of shares issuable
BSA 04-12	May 4, 2012	6.00	30,000	—	—	—	30,000	30,000
BSA 2013	April 10, 2013	6.37	6,000	—	—	—	6,000	6,000
BSA 2014	Sept. 16, 2014	17.67	10,000	—	—	—	10,000	10,000
BSA 2015-1	February 10, 2015	17.67	21,000	—	—	—	21,000	21,000
BSA 2015-2(a)	June 25, 2015	19.54	64,000	—	—	—	64,000	64,000
BSA 2015-2(b)	June 25, 2015	19.54	6,000	—	—	(6,000)	—	—
BSA 2016	February 2, 2016	13.74	36,208	—	—	—	36,208	36,208
BSA 2016-2	November 3, 2016	15.01	8,000	—	—	—	8,000	8,000
BSA 2017	January 7, 2017	15.76	18,000	—	—	—	18,000	18,000
BSA 2018-1	March 6, 2018	13.55	28,000	—	—	—	28,000	28,000
BSA 2018-2	July 27, 2018	16.102	5,820	—	—	—	5,820	5,820
BSA 2019-1	March 29, 2019	11.66	18,000	—	—	—	18,000	18,000
BSA 2020	March 17, 2020	6.59	—	18,000	—	—	18,000	18,000
Total			251,028	18,000	—	(6,000)	263,028	263,028


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2019	Issued	Exercised	Forfeited	Outstanding at December 31, 2019	Number of shares issuable
BSA 04-12	May 4, 2012	6.00	30,000	—	—	—	30,000	30,000
BSA 2013	April 10, 2013	6.37	6,000	—	—	—	6,000	6,000
BSA 2014	Sept. 16, 2014	17.67	10,000	—	—	—	10,000	10,000
BSA 2015-1	February 10, 2015	17.67	4,000	—	—	—	4,000	4,000
BSA 2015-1	February 10, 2015	17.67	17,000	—	—	—	17,000	17,000
BSA 2015-2(a)	June 25, 2015	19.54	64,000	—	—	—	64,000	64,000
BSA 2015-2(b)	June 25, 2015	19.54	6,000	—	—	—	6,000	6,000
BSA 2016	February 2, 2016	13.74	36,208	—	—	—	36,208	36,208
BSA 2016-2	November 3, 2016	15.01	8,000	—	—	—	8,000	8,000
BSA 2017	January 7, 2017	15.76	18,000	—	—	—	18,000	18,000
BSA 2018-1	March 6, 2018	13.55	28,000	—	—	—	28,000	28,000
BSA 2018-2	July 27, 2018	16.102	5,820	—	—	—	5,820	5,820
BSA 2019-1	March 29, 2019	11.66	—	18,000	—	—	18,000	18,000
Total			233,028	18,000	—	—	251,028	251,028

BSPCE


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2020	Issued	Exercised	Forfeited	Outstanding at December 31, 2020	Number of shares issuable
BSPCE 2012-2	December 18, 2012	6.63	100,000	—	—	—	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	92,100	—	—	(5,950)	86,150	86,150
BSPCE 2015-1	February 10, 2015	18.57	70,950	—	—	(2,500)	68,450	68,450
BSPCE 2015-3	June 10, 2015	20.28	38,400	—	—	(7,700)	30,700	30,700
BSPCE 2016	February 2, 2016	14.46	212,969	—	—	(10,352)	202,617	202,617
BSPCE 2017	January 7, 2017	15.93	187,166	—	—	(6,316)	180,850	180,850
Total			751,585	—	—	(32,818)	718,767	718,767


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2019	Issued	Exercised	Forfeited	Outstanding at December 31, 2019	Number of shares issuable
BSPCE 2012-1	May 4, 2012	6.00	1,674,548	—	(160,000)	(1,514,548)	—	—
BSPCE 2012-2	December 18, 2012	6.63	100,000	—	—	—	100,000	100,000
BSPCE 04-2013	April 10, 2013	6.30	55,000	—	(55,000)	—	—	—
BSPCE 08-2013	August 28, 2013	5.92	50,000	—	—	—	50,000	50,000
BSPCE 09-2014	September 16, 2014	18.68	92,100	—	—	—	92,100	92,100
BSPCE 2015-1	February 10, 2015	18.57	70,950	—	—	—	70,950	70,950
BSPCE 2015-3	June 10, 2015	20.28	39,750	—	—	(1,350)	38,400	38,400
BSPCE 2016	February 2, 2016	14.46	220,967	—	—	(7,998)	212,969	212,969
BSPCE 2017	January 7, 2017	15.93	202,417	—	—	(15,251)	187,166	187,166
Total			2,505,732	—	(215,000)	(1,539,147)	751,585	751,585

OSA


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2020	Issued	Exercised	Forfeited	Outstanding at December 31, 2020	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	54,000	—	—	(2,000)	52,000	52,000
OSA 2019-1	March 29, 2019	11.08	30,250	—	—	(1,500)	28,750	28,750
OSA LLY 2019	October 24, 2019	6.41	500,000	—	—	—	500,000	500,000
OSA 2020	March 11, 2020	6.25	—	407,972	—	(7,263)	400,709	400,709
Total			589,150	407,972	—	(10,763)	986,359	986,359


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2019	Issued	Exercised	Forfeited	Outstanding at December 31, 2019	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	58,000	—	—	(4,000)	54,000	54,000
OSA 2019-1	March 29, 2019	11.08	—	37,500	—	(7,250)	30,250	30,250
OSA LLY 2019	October 24, 2019	6.41	—	500,000	—	—	500,000	500,000
Total			62,900	537,500	—	(11,250)	589,150	589,150

AGA


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2020	Issued	Exercised	Forfeited	Outstanding at December 31, 2020	Number of shares exercisable
AGA 2018-1	March 6, 2018	n.a.	355,250	—	(316,083)	(14,667)	24,500	24,500
AGA 2018-2	July 27, 2018	n.a.	6,000	—	(6,000)	—	—	—
AGA 2019-1	March 29, 2019	n.a.	385,000	—	—	(13,000)	372,000	372,000
AGA 2020	March 11, 2020	n.a.	—	50,000	—	—	50,000	50,000
Total			746,250	50,000	(322,083)	(27,667)	446,500	446,500


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2019	Issued	Exercised	Forfeited	Outstanding at December 31, 2019	Number of shares exercisable
AGA 2018-1	March 6, 2018	n.a.	369,250	—	—	(14,000)	355,250	355,250
AGA 2018-2	July 27, 2018	n.a.	6,000	—	—	—	6,000	6,000
AGA 2019-1	March 29, 2019	n.a.	—	438,250	—	(53,250)	385,000	385,000
Total			375,250	438,250	—	(67,250)	746,250	746,250

Warrant plans

At a meeting on March 17, 2020, the Executive Board, acting pursuant to the delegation granted by the thirty-fourth resolution of the annual shareholders' meeting dated April 11, 2019 and following the approval granted by the Supervisory Board on March 13, 2020, granted 18,000 warrants to members of the Supervisory Board, each entitling the holder to subscribe to a defined number of ordinary shares with a par value of €0.03, at a price of €6.59. The holders subscribed to the warrants prior to the end of the subscription period on September 30, 2020.

At a meeting on March 29, 2019, the Executive Board, acting pursuant to the delegation granted by the thirty-fourth resolution of the annual shareholders' meeting dated May 23, 2018 and following the approval granted by the Supervisory Board on January 23, 2019, granted 18,000 warrants to members of the Supervisory Board, each entitling the holder to subscribe to a defined number of ordinary shares with a par value of €0.03, at a price of €11.66. The holders subscribed to the warrants at the end of the subscription period on June 27, 2019.

Stock option plans

At a meeting on March 11, 2020, the Executive Board adopted the 2019 Stock Option Plan and, acting pursuant to the authorization granted by the thirty-second resolution of the annual shareholders' meeting dated April 11, 2019, granted 407,972 stock options (the “OSA 2020”), 300,000 of which to members of the Executive Board and Mr. Alain Dostie and the remaining 107,972 to employees of the Company, under such 2019 Stock Option Plan. Each OSA 2020 entitles its holder to subscribe one ordinary share of the Company with a par value of €0.03, at an exercise price of €6.25 (issue premium included).

The OSA 2020 may be exercised as follows:

•up to one-third of the OSA 2020 as from March 11, 2021;

•an additional one-third of the OSA 2020 as from March 11, 2022; and

•the balance, i.e., one-third of the OSA 2020 as from March 11, 2023, subject to, for each increment, a continued service condition.

In addition, the Executive Board decided that the exercise of the OSA 2020 granted to members of the Executive Board and Mr. Alain Dostie would also be subject to the achievement of positive results in the 1100 study in 2020. The satisfaction of this performance condition was acknowledged by the Executive Board, with the approval of the supervisory board, on March 17, 2021.

At a meeting on March 29, 2019, the Executive Board, acting pursuant to the authorization granted by the thirty-seventh resolution of the annual shareholders’ meeting dated May 23, 2018, granted 37,500 stock options (the “OSA 2019-1”) to the employees of the Company under the 2018 Stock Option Plan, which was adopted by the Executive

Board on February 5, 2019. Each OSA 2019-1 entitles its holder to subscribe one ordinary share of the Company with a par value of €0.03, at an exercise price of €11.08 (issue premium included).

The OSA 2019-1 may be exercised as follows:

•up to two-thirds of the OSA 2019-1 as from March 30, 2021; and

•the balance, i.e., one-third of the OSA 2019-1 as from March 30, 2022, subject to, for each increment, a continued service condition.

At a meeting on October 24, 2019, the Executive Board, acting pursuant to the authorization granted by the thirty-sixth resolution at the annual shareholders' meeting dated April 11, 2019, adopted the LLY 2019 Stock Option Plan, and granted 500,000 stock options (the “OSA LLY 2019”) to Laurent Levy, chairman of the Executive Board of the Company, under such LLY 2019 Stock Option Plan. Each OSA LLY 2019 entitles its holder to subscribe one ordinary share of the Company with a par value of €0.03, at an exercise price of €6.41 (issue premium included).

The OSA LLY 2019 may be exercised under the following conditions:

•10% of the OSA LLY 2019 may be exercised when the market value of a share on the regulated market of Euronext in Paris reaches €24;

•an additional 10% of the OSA LLY 2019 may be exercised when the market value of a share on the regulated market of Euronext in Paris reaches €30;

•an additional 40% of the OSA LLY 2019 may be exercised when the market value of a share on the regulated market of Euronext in Paris reaches €40;

•the balance, i.e. 40% of the OSA LLY 2019 may be exercised when the market value of a share on the regulated market of Euronext in Paris reaches €60; and

•it being specified that, in the event of a merger into another corporation or of the sale by one or several shareholders, acting alone or in concert, of the Company to one or several third parties of a number of shares resulting in a change of control, the performance conditions regarding the price of the Company’s share price on the regulated market of Euronext in Paris will be automatically waived.

The term of each stock option is 10 years from the date of grant, or, except for the OSA LLY 2019, in the event of death or disability of the optionee during such 10-year period, six months from the date of such death or disability.

In accordance with the relevant stock option plans, the Executive Board decided to lift, for two employees of the Company, the continued service condition to which the exercise of their stock options is subject, notwithstanding the termination of their employment agreement.

Free share plans

At a meeting on March 11, 2020, the Executive Board, acting pursuant to the authorization granted by the thirty-third resolution of the annual shareholders’ meeting dated April 11, 2019, granted 50,000 free shares (the “AGA 2020”) with a par value of €0.03 to Ms. Anne-Juliette Hermant, a member of the Executive Board.

In addition to the acquisition and holding conditions detailed below, the acquisition of the AGA 2020 granted to Ms. Hermant is conditioned upon the achievement of positive results in Study 1100 in 2020. The satisfaction of this performance condition was acknowledged by the Executive Board, with the approval of the Supervisory Board, on March 17, 2021.

At a meeting on March 29, 2019, the Executive Board, acting pursuant to the authorization granted by the thirty-eight resolution of the annual shareholders’ meeting dated May 23, 2018, granted 438,250 free shares (the “AGA 2019-1”) to the members of the Executive Board and employees of the Company, each with a par value of €0.03.

In addition to the acquisition and holding conditions detailed below, the acquisition of the AGA 2019-1 granted to Executive Board members was subject to NBTXR3 receiving the CE mark before June 30, 2019. The satisfaction of this performance condition was acknowledged by the Executive Board, with the prior approval of the supervisory board, on April 27, 2020.

Free share vesting conditions

The AGA 2019-1 and AGA 2020 are subject to, for French tax residents, a two-year acquisition period and a one-year holding period, and, for foreign tax residents, a three-year acquisition 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 2019-1 and the AGA 2020 are subject to continued service during the acquisition period (i.e., for the AGA 2019-1, until March 29, 2021 for French tax residents and March 29, 2022 for foreign tax residents, and, for the AGA 2020, until March 11, 2022), it

being specified that, failing such continued service, the beneficiary definitively and irrevocably loses his or her right to acquire the relevant AGA 2019-1 or AGA 2020.

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 September 22, 2020, the Executive Board acknowledged the definitive acquisition of 6,000 free shares granted on July 27, 2018 following a two-year acquisition period, thus acknowledging the related share capital increase of €180.

In accordance with the terms of the free shares, the Executive Board decided to lift, for seven 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 discussed in Note 17. As of December 31, 2020, the assumptions related to the estimated vesting of the founders’ warrants, the warrants and performance stock-options have been updated (see Note 17).

Provisions

12 Months Ended

Dec. 31, 2020

Provisions [abstract]

Provisions

Accounting policies

Provisions for contingencies and charges

Provisions for contingencies and charges reflect obligations resulting from various disputes and risks 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.

Based on this method, the cost of retirement is recorded in income such that the amount is distributed uniformly over the term of the employee’s career. 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, 2020 and 2019, 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, 2020	Increases	Decreases(1)	As of December 31, 2020
Lump-sum retirement benefits	331	83	—	414
Non-current provisions	331	83	—	414
Provisions for disputes	—	40	—	40
Provision for charges	164	—	(164)	—
Current provisions	164	40	(164)	40
Total provisions	495	123	(164)	454

(1)See Statement of consolidated cash flows and Note 16.4 for the nature of these decreases


(in thousands of euros)	As of January 1, 2019	Increases	Decreases(1)	As of December 31, 2019
Lump-sum retirement benefits	337	82	(88)	331
Non-current provisions	337	82	(88)	331
Provisions for disputes	55	—	(55)	—
Provision for charges	—	164	—	164
Current provisions	55	164	(55)	164
Total provisions	392	246	(143)	495

(1)See Statement of consolidated cash flows and Note 16.4 for the nature of these decreases

11.1 Current provisions

Provisions for disputes comprise employee disputes in progress. The decrease during 2018 and 2019 of €50 thousand and €55 thousand, respectively, were due to payments that occurred during the respective years. The increase of €40 thousand in 2020 corresponded to a new employee dispute.

Provisions for charges of €164 thousand were related to termination costs accounted for in 2019 following an employee departure, €145 thousand were paid in 2020.

11.2 Non-current provisions

Commitments for retirement benefits


(in thousands of euros)	As of December 31, 2020	As of December 31, 2019
Provision as of beginning of period	331	337
Cost of services	76	76
Interests / discounting costs	3	6
Expense for the period	79	82
Gains or losses related to experience	(61)	(116)
Gains or losses related to change in demographic assumptions	3	(21)
Gains or losses related to change in financial assumptions	62	48
Actuarial gains or losses recognized in other comprehensive income	4	(88)
Provision as of end of period	414	331

The assumptions used to measure lump-sum retirement benefits are as follows:


Measurement date	December 31, 2020	December 31, 2019
Retirement assumptions	Management: Age 66 Non-management: Age 64	Management: Age 66 Non-management: Age 64
Social security contribution rate	44 %	43 %
Discount rate	0.33 %	0.85 %
Mortality tables	Regulatory table INSEE 2014 -2016	Regulatory table INSEE 2012 -2014
Salary increase rate (including inflation)	Executive: 3% Non-Executive: 2.5%	2.5 %
Staff turnover	Constant average rate of 5.86%	Constant average rate of 5.86%
Duration	17 years	17 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 2015-2018 period.

Financial liabilities

12 Months Ended

Dec. 31, 2020

Disclosure of financial liabilities [abstract]

Financial Liabilities

Financial liabilities

Accounting policies

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.

Grants are recognized as Grants receivable as soon as the assurance that the payment will be received is obtained and not when actual payment is made. A portion of the grants is then recognized in Deferred income to the extent that the related expenditures have not yet been made.

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.

Details of financial liabilities


(in thousands of euros)	As of December 31, 2020	As of December 31, 2019
Lease liabilities – Short term	1,197	591
Repayable advances OSEO/BPIfrance loan – Short term	500	500
PGE*	141	—
EIB loan – Short term	3,033	—
Total current financial liabilities	4,872	1,091
Lease liabilities – Long term	4,991	5,814
Repayable OSEO/Bpifrance loan advances – Long term	2,975	2,875
PGE*	9,922	—
EIB loan – Long term	26,218	34,746
Total non-current financial liabilities	44,107	43,435
Total financial liabilities	48,979	44,526

(*)”PGE”or in French “Prêts garantis par l’Etat” are state-guaranteed loans

Bpifrance and OSEO conditional advances

The Company receives repayable advances from Banque Publique d’Investissement (formerly known as OSEO Innovation). The advances are interest-free and are fully repayable in the event of technical and/or commercial success. In 2018, the Company was informed that the initial date of reimbursement of the Bpifrance repayable

advance was deferred for 18 months. 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 while the remaining amount will be received by Curadigm at the end of the work, as of March 1, 2022 at the latest.

EIB loan

In July 2018, the Company obtained a fixed rate 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 will be repaid in full in 2023. The accumulated fixed-rate interest related to this tranche will be paid at the same time. The second tranche, with a nominal value of €14 million, was received in March 2019 and will be repaid between 2021 and 2024. The accumulated fixed-rate interest related to this second tranche will be paid twice a year together with the principal due.

The third tranche, which abides by specific conditions (NBTXR3 should obtain the European Commission trademark and reach the main performance criteria for the Phase III pivot, for head and neck cancer treatment), has not been requested by the Company yet. The deadline for requesting this third tranche, initially scheduled as of July 26, 2020, was delayed by 12 months to July 31, 2021.

Pursuant to the terms of the loan, the Company is also 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) 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 4.2). Initially, 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 effective interest rate. The related impact on the carrying value of the liability is recorded as financial income or expense, as applicable. Due to the delay caused by COVID-19 in clinical trials and the revision of the related sales development plan, the sales forecasts were updated resulting in a change in estimate of the accrued royalties (see Note 12 of our consolidated financial statements for details about the impact of this sales forecast update). A 10% increase of the estimated future net sales would result in an immaterial change of the EIB loan valuation recorded as of December 31, 2020.

PGE loan

The Company announced in June 2020 that it has received approval for financing from both HSBC and Bpifrance for €5 million each in the form of state-guaranteed loans (“Prêts Garantis par l’Etat”, or “PGE” in France); the €5 million from HSBC (the ‘‘HSBC PGE Loan’’) was received in June 2020. This 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 intends to use this option and delay the reimbursement date by 5 years. As a result, this amount has been included in non-current financial liabilities on the statement of financial position. The state-guaranteed rate applicable to the Company for the first year is 0.25%.

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 will bear no interest for the first 12-month period but, following such 12-month period and for the subsequent 5 years, will bear 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 will be reimbursed in 20 quarterly installments as from October 31, 2021 until July 26, 2026.

Lease Liabilities

Since January 1, 2019 the Company applies the new standard IFRS 16 – Leases, which replaces IAS 17 and the related IFRIC and SIC interpretations. This standard eliminates the difference between operating and finance leases, and requires leases be recognized in the balance sheet. The accounting consists of recognizing a right of use asset while recording a liability for the value of the discounted rentals to be paid over the lease term.

As mentioned in Note 2.1, on January 1, 2019, for each ongoing operating lease contract outstanding as of December 31, 2018, the Company recorded a right of use asset and a corresponding financial liability, based on the discounted amount to be paid over those lease terms. While no impact on the statement of profit and loss is recorded at first time application under the modified retrospective method applied by the Company, after the adoption the following impact will be booked:

•The right of use amortization amount, computed on a straight-line basis at each closing date; and

•A financial expense for the interest component associated with the rent payment (with the principal amount reducing the lease liability).

After adoption, all new lease contracts not falling under a practical expedient defined by IFRS 16, namely short-term leases or low-value leases, will be treated with the same accounting method. Note 12.2 below presents the detailed impact of the lease liability at first time application and the related liability increases or decreases recorded during 2019 and 2020.

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, 2019	2,116	1,675	16,730	—	20,521
Principal received	—	—	14,000	—	14,000
Impact of discounting and accretion	32	36	(1,422)	—	(1,354)
Accumulated fixed interest expense accrual	16	—	1,545	—	1,561
Accumulated variable interest expense accrual	—	—	4,243	—	4,243
Repayment	—	(500)	(350)	—	(850)
As of December 31, 2019	2,165	1,210	34,746	—	38,121
Principal received	—	—	—	350	350
Impact of discounting and accretion	19	14	(1,736)	(65)	(1,769)
Accumulated fixed interest expense accrual	32	—	1,731	—	1,763
Accumulated variable interest expense accrual	—	—	(4,789)	—	(4,789)
Repayment	—	(250)	(700)	—	(950)
As of December 31, 2020	2,216	974	29,251	285	32,727

The impact of discounting and accretion of €1.7 million, related to the EIB loan, first reflects part of the “catch-up method” impact, computed following a decrease in the Company’s revenue forecasts from those initially determined since the variable part of the EIB financial charges relate to royalties, that are based on the Company’s future revenue expectations. 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 effective interest rate. The related impact on the carrying value of the liability is recorded as financial income or expense, as applicable. The rest of the catch up impact is presented on the line variable interest future payments.

Considering the last available development and marketing planning, the Company has updated its long-term revenue forecast, both the timing and measurement, and adjusted the accrued royalties recorded as future variable interest payments accordingly. The expected royalty payments to be made in the future, initially estimated as €43.4 million have been updated to €17.2 million as of December 31, 2020. Therefore the corresponding impact to the financial liability is a decrease of the EIB liability of €4.8 million for the year ended December 31, 2020.

Bank loan


(in thousands of euros)	HSBC “PGE” (1)	Bpifrance “PGE” (1)	Total
As of January 1, 2019	—	—	—
Financial expenses on liabilities	—	—	—
Repayment of principal	—	—	—
Payment of interest	—	—	—
As of December 31, 2019	—	—	—
Principal received	5,000	5,000	10,000
Impact of discounting and accretion	14	34	47
Accumulated fixed interest expense accrual (2)	7	10	17
As of December 31, 2020	5,020	5,044	10,064

(1)”PGE”or in French “Prêts garantis par l’Etat” are state-guaranteed loans

(2) In 2020 the fixed interest accrual refers to guarantee 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 December 31, 2018			—
Impact of IFRS 16 first application (1)			5,569
As of January 1, 2019			5,569
New lease contracts			1,991
Impact of discounting of the new lease contracts			(399)
Fixed interest expense			359
Repayment of lease			(1,067)
Early termination of lease contracts			(48)
As of December 31, 2019			6,405
New lease contracts			521
Impact of discounting of the new lease contracts			(94)
Fixed interest expense			333
Repayment of lease			(928)
Early termination of lease contracts			(49)
As of December 31, 2020			6,188

(1)See note 2.1 Impact of IFRS 16 first application for further details.

12.3 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, 2020
(in thousands of euros)	Less than 1 year	Between 1 and 3 years	Between 3 and 5 years	More than 5 years
Bpifrance	—	800	1,608	—
Interest-free Bpifrance loan	500	500	—	—
Curadigm interest-free Bpifrance advance	—	100	200	50
HSBC “PGE” (1)	30	1,932	2,552	638
Bpifrance “PGE” (1)	112	1,722	2,620	982
EIB fixed rate loan	3,033	31,562	2,392	—
Lease liabilities	1,197	2,310	2,302	1,396
Total	4,872	38,925	11,673	3,066

(1)”The Company plans to 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 rate interest and principal payable on repayable advances, the interest-free Bpifrance loan, EIB loan, PGE loans and the lease liabilities. These amounts do not include the discounting impact, but only reflect the committed amounts under those contracts as of December 31, 2020.

The outstanding balance of the EIB loan included in the table above was €37.0 million as of December 31, 2020, including €7.0 million of total fixed rate interest to be paid over the term of the loan, out of which €1.7 million was accrued as of December 31, 2020.The balance in the table above does not include €17.2 millions of estimated variable rate interest, based on the consolidated forecasted sales expected to be generated by the Company during the six-year period beginning January 1, 2021 (see Notes 3.2, 4.2 and 12.1).

As of December 31, 2020, the Company has not yet sent to HSBC its debt rescheduling request. The assumptions used for the due dates of the financial liabilities above, is that the HSBC PGE loan will be reimbursed at the same pace as the Bpifrance one. The interests that will be applicable by the bank are not known yet; therefore, only fixed interest costs were taken into account here.

Trade payables and other current liabilities

12 Months Ended

Dec. 31, 2020

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 12, ‘‘Financial Liabilities.’’

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)	2020	2019
Accrued expenses - clinical trials	1,532	1,620
Other trade payables	5,574	6,150
Total trade and other payables	7,106	7,770

Trade payables are not discounted, as none of the amounts were due in more than one year.

Other trade payables include €349 thousand of costs relating to the U.S. initial public offering not yet paid, as of December 31, 2020.

13.2 Other current liabilities


	As of December 31,
(in thousands of euros)	2020	2019
Tax liabilities	283	216
Payroll tax and other payroll liabilities	6,248	4,912
Other payables	491	193
Other current liabilities	7,022	5,322

Payroll tax and other payroll liabilities consist primarily of payroll taxes, namely the employer costs to be paid on free shares, accrued bonuses, vacation days and related social charges.

Payroll tax and other payroll liabilities increased by €1.3 million from €4.9 million as of December 31, 2019 to €6.2 million as of December 31, 2020 as a result of increased social charges related to employees due to the deferral of those charges granted by the State during the COVID-19 crisis.

Change in other payables between December 31, 2020 and 2019 mainly include:

•A deferred income of €162 thousand corresponding to the portion of the €350 thousand granted to Curadigm SA in 2020 in connection with the Bpifrance Deep Tech Funding not yet incurred (see Note 15); and

•A deferred income of €100 thousand corresponding to Curadigm’s one-year research agreement with Sanofi obtained in 2020, but not yet incurred (see Note 15); and

•A deferred income of €157 thousand corresponding to the portion of the remaining conditional advances from Nanobiotix SA from BpiFrance not incurred yet (see Note 15).

Financial instruments included in the statement of financial position and impact on income

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about financial instruments [abstract]

Financial instruments included in the statement of financial position and impact on income

Accounting policies

Accounting policies for financial instruments included in the statements of financial position and impact on income are described in Note 7, ‘‘Non-current financial assets’’, Note 8, ‘‘Trade receivables and other current assets’’, Note 9, ‘‘Cash and cash equivalents’’ and Note 12, ‘‘Financial liabilities.’’

Detail of financial instruments included in the statements of financial position and impact on income


	As of December 31, 2020
(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	505	104	401	505
Trade receivables	62	—	62	62
Cash and cash equivalents	119,151	—	119,151	119,151
Total assets	119,717	104	119,613	119,717
Financial liabilities
Non-current financial liabilities	44,107	—	44,107	44,107
Current financial liabilities	4,872	—	4,872	4,872
Trade payables and other payables	7,106	—	7,106	7,106
Total liabilities	56,085	—	56,085	56,085

(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, recorded at amortized cost was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value.


	As of December 31, 2019
(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	529	130	399	529
Trade receivables	11	—	11	11
Cash and cash equivalents	35,094	—	35,094	35,094
Total assets	35,634	130	35,504	35,634
Financial liabilities
Non-current financial liabilities	43,435	—	43,435	43,435(1)
Current financial liabilities	1,091	—	1,091	1,091
Trade payables and other payables	7,770	—	7,770	7,770
Total liabilities	52,296	—	52,296	52,296

(1)The fair value of current and non-current liabilities include loans, repayable advances from Bpifrance and the EIB loan, recorded at amortized cost was assessed using unobservable “level 3” inputs, in the IFRS 13 classification for fair value.

The impact on income (loss) is as follows:


	For the year ended December 31,
(in thousands of euros)	2020	2019
Cost of gross debt	(1,721)	1,354
Income from cash equivalents	—	105
Total fair value through profit or loss	(1,721)	1,459

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 risks faced by the Company are liquidity, foreign currency exchange, interest rate and credit risks.

Liquidity risk

Given the amount of cash and cash equivalents held by the Company as of December 31, 2020 (see Note 9), the Company does not believe that it is exposed to short-term liquidity risk.

Foreign Currency Exchange Risk

The functional currency of Nanobiotix S.A. is the euro. Exposure to foreign currency exchange risk is derived almost entirely from 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 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. In 2020, the Company had foreign exchange losses for the total amount of €1.7 million (see Note 18 – Net financial income of our consolidation financial statements). This impact was primarily related to the U.S. initial public offering in December 2020, which was realized in U.S. dollars, resulting in $113.3 million of gross proceeds, therefore creating a one-time impact on foreign exchange losses. Moreover, the net proceeds from this U.S initial public offering are currently held in U.S. dollars in the Company’s current account. A third contributing factor for this increase in foreign exchange risk is the one-time impact of the closing of a specific bank account. While part of the reasons for these foreign exchange losses were related to one-time events, the Company is currently updating its assessment of this risk for the year 2021.

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 capital contributions and loans to the Company’s U.S. subsidiaries as of December 31, 2020, 2019 and 2018.


	For the year ended December 31, 2020
Impact	Net income		Equity
(in thousands of euros)	Increase	Decrease	Increase	Decrease
USD / Euro exchange rate	5	(5)	124	(124)
Total	5	(5)	124	(124)


	For the year ended December 31, 2019
Impact	Net income		Equity
(in thousands of euros)	Increase	Decrease	Increase	Decrease
USD / Euro exchange rate	41	(41)	141	(141)
Total	41	(41)	141	(141)

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.

Customer credit risk is limited, due in part to low trade receivables as of December 31, 2020 and in part to its customers’ high credit rating for other receivables.

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.

In 2018 the Company entered into an agreement with the EIB pursuant to which the Company may borrow a total of up to €40 million, divided in three tranches, two of which were received through December 31, 2020. In addition to the fixed interest rate, the Company also committed, for a period lasting from 2022 to 2027 to pay additional interest in the form of royalties indexed to the Company’s annual sales turnover beginning on January 1, 2021. Because the interest rate on the loan does not depend on market performance, the exposure of the Company to interest rate and market risk is deemed low (see. Note 4.2).

Fair value

The fair value of financial instruments traded on an active market is based on the market price on the reporting date. The market prices used for the financial assets held by the Company are the bid prices in the market on the measurement date.

The carrying value of receivables and current liabilities is assumed to approximate their fair value.

Revenues and other income

12 Months Ended

Dec. 31, 2020

Disclosure Of Revenue [Abstract]

Revenues and other income

Accounting policies

Revenues

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 to the license and collaboration agreement with PharmaEngine

Under the License and Collaboration Agreement, the Company’s and PharmaEngine’s rights are clearly identified and, financial terms are defined in the contract. The contract has commercial substance (the Company’s cash flows have been affected by the terms of the contract) and the Company has collected and is entitled to collect in the future consideration in exchange for the goods and services transferred to PharmaEngine.

The Company identified three performance obligations in the License and Collaboration Agreement described under Note 4 above:

•the license of the right to use the Company’s patent and know-how;

•the support provided by the Company to PharmaEngine until the first regulatory approval is granted in PharmaEngine’s territory that the Company views as a series of distinct periods of access to information and experience that is satisfied over time; and

•the supply of NBTXR3 to PharmaEngine.

An upfront payment of $1.0 million was fully recognized as revenue when the license was transferred to PharmaEngine in 2012.

Development milestones constitute variable payments that are recognized over-time. As milestone payment timing was defined to reflect the efforts of both parties over time and were amended to reflect all changes in the contractual development plan, the Company concluded that the terms of variable payments reflect its efforts to satisfy the performance obligation related to each development phase and that no portion if any of such consideration that would relate to the license would impact the timing of recognition because of the highly probable collectability requirement. On this basis, the first milestone payment of $1 million (upon signature of the first amendment that allowed PharmaEngine to benefit from the results of the Company’s clinical studies for soft-tissue sarcoma indication) and the second milestone payment of $1 million (first patient’s injection with NBTXR3 in soft tissue sarcoma study in Asia) were received and recognized in 2014 and 2016, respectively. The next milestone will be

received following the first filing for regulatory approval for marketing NBTXR3 in PharmaEngine ’s territory, which had not occurred as of December 31, 2020.

Royalties are considered at market conditions and will be fully recognized once the subsequent sales occur.

In the years ended December 31, 2020, 2019 and 2018, no payment was received, and no revenue was recognized for this contract. The next payments expected in the PharmaEngine contract are disclosed in the Note 24 – Subsequent events of our consolidated financial statements.

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. The portion 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, 2020, 2019, and 2018:


	For the year ended December 31,
(in thousands of euros)	2020	2019	2018
Services	50	40	109
Other sales	—	28	7
Total revenues	50	68	116
Research tax credit	1,927	2,437	3,251
Subsidies	526	20	90
Other	10	17	22
Total other income	2,462	2,473	3,363
Total revenues and other income	2,512	2,541	3,479

The Company’s revenue of €50 thousand in 2020, €68 thousand in 2019 and €116 thousand in 2018 were derived mainly from the charging-back of shared external clinical research organization costs in connection with the development support provided by the Company to PharmaEngine as part of the 2014 amendment to the Company's License and Collaboration Agreement. In December 2020, Curadigm signed a one-year collaboration agreement with Sanofi for a total amount of €100 thousand (see Significant Events of the period in Note 1 of our consolidated financial statements), for services that will be recognized over time in revenue and other payables under IFRS 15. As the contract started in 2021, no impact was booked in revenues so far but this impact is expected in the Company’s revenues in 2021.

100% of the revenues recognized in 2020, 2019 and more than 90% of the revenues recognized in 2018 were derived from the arrangement with PharmaEngine (see Note 4.1).

In 2020, the Company’s other income, other than the research tax credit, mainly derives from French State subsidies of €312 thousand provided as part of the ‘‘partial unemployment measure,’’ a National plan allowing companies facing economic challenges during the COVID-19 crisis to receive from the French State approximately 84% of specific employees’ net salary, as well as the €350 thousand received by Curadigm in connection with the Bpifrance Deep Tech Funding, €187 thousand of which was recognized as revenue for the years ended December 31, 2020.

Operating Expenses

12 Months Ended

Dec. 31, 2020

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)	2020	2019	2018
Purchases, sub-contracting and other expenses	(12,734)	(16,804)	(11,358)
Payroll costs (including share-based payments)	(10,306)	(11,980)	(9,002)
Depreciation, amortization and provision expenses(1)	(1,290)	(1,627)	(534)
Total research and development expenses	(24,330)	(30,411)	(20,893)

(1)see note 16.4 Depreciation, amortization and provision expenses

Purchases, sub-contracting and other expenses decreased by €4.1 million, or 24% for the year ended December 31, 2020 as compared with the same period in 2019. This reflects the Company’s endeavor to decrease costs while maintaining clinical trials development during the COVID-19 pandemic.

Payroll costs decreased by €1,674 thousand, or 14% for the year ended December 31, 2020 as compared with the same period in 2019. This variation is mainly due to a decrease of 15 R&D staff from 81 as of December 31, 2019 to 66 as of December 31, 2020.

As of December 31, 2019, the Company’s workforce amounted to 81 research and development staff, including two additional positions created during the year ended December 31, 2019 and 79 research and development staff, including 18 additional positions created during the year ended December 31, 2018.

The impact of share-based payments (excluding employer’s contribution) on research and development expenses amounted to €629 thousand in 2020 as compared with €902 thousand in 2019 and €347 thousand in 2018.

16.2 Selling, General and Administrative (SG&A) expenses


	For the year ended December 31,
(in thousands of euros)	2020	2019	2018
Purchases, fees and other expenses	(6,482)	(9,435)	(5,918)
Payroll costs (including share-based payments)	(7,789)	(9,205)	(6,701)
Depreciation, amortization and provision expenses (1)	(340)	(270)	(35)
Total SG&A expenses	(14,611)	(18,909)	(12,653)

(1)see note 16.4 Depreciation, amortization and provision expenses

In 2020, purchases, fees and other expenses decreased by €2,816 thousand, or 30% for the years ended December 31, 2020 as compared with the same period in 2019. This variation reflects two main impacts, first the fact that as of December 31, 2019, the €1,030 thousand transaction costs related to the initial public offering, initially recorded as a reduction to premiums related to share capital, were written off as the Company decided to delay its plans to conduct a registered public offering. The second main impact relates to the COVID-19 pandemic, namely the Company’s endeavor to decrease selling, general and administrative costs such as project consulting fees because of the COVID-19 pandemic.

In 2019, the increase in Rent, fees and other expenses by €3.5 million in comparison with 2018 resulted mainly from:

•the €1.5 million of transaction costs related to the U.S. initial public offering, of which €1.0 million were recorded in 2018 and €507 thousand in 2019 as a reduction of premiums related to share capital and then reversed to SG&A expenses upon the determination by management in 2019 that the offering would be delayed;

•the €0.5 million increase in general consulting fees mostly related to market access; and

•the increase in recruitment fees, communication agency fees and legal fees for €0.4 million, €0.4 million and €0.3 million, respectively.

These increases in fees and other expenses were partially offset by the decrease in rental expenses following the application of IFRS 16 for the year ended December 31, 2019.

Payroll costs decreased by €1.4 million or 15% in 2020, due to the reversal of a provision for employer’s contribution following the acquisition by beneficiaries of their free shares.

As of December 31, 2020, the Company’s workforce amounted to 24 SG&A staff in comparison with a Company’s workforce of 29 SG&A staff, including 6 additional positions created during the year ended December 31, 2019 and a Company’s workforce of 23 SG&A staff, including 3 additional positions created during the year ended December 31, 2018.

The impact of share-based payments (excluding employer’s contribution) on SG&A expenses amounted to €2.3 million, as compared with €3.4 million in 2019 and €1.5 million in 2018.

Note 16.3 Payroll costs


	For the year ended December 31,
(in thousands of euros)	2020	2019	2018
Wages and salaries	(11,141)	(11,876)	(9,501)
Payroll taxes	(3,953)	(4,913)	(4,279)
Share-based payments	(2,924)	(4,320)	(1,867)
Retirement benefit obligations	(76)	(76)	(55)
Total payroll costs	(18,094)	(21,185)	(15,703)
Average headcount	97	112	94
End-of-period headcount	90	110	102

As of December 31, 2020, the Company’s workforce totaled 90 employees, compared with 110 December 31, 2019 and 102 as of December 31, 2018.

In 2020, wages, salaries and payroll costs, together, amounted to €15.1 million as compared with €16.8 million in 2019. This is mainly due to a decrease in staff over the period because of the COVID 19 pandemic and to the reversal of a provision related to employer’s contribution following the exercise by beneficiaries of their right to free shares.

In 2019, wages and salaries and payroll taxes, together, reached €16.8 million due to the Company's growth and a related increase in the number of employees during the year ended December 31, 2019, together with the impact of its compensation policy. In comparison, wages and salaries and payroll taxes, together, reached €13.8 million for the year ended December 31, 2018.

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 €2.9 million for the year ended December 31, 2020, as compared with €4.3 million as of December 31, 2019 and €1.9 million as of December 31, 2018 (see Note 17).

Note 16.4 Depreciation, amortization and provision expenses

Depreciation, amortization and provision expenses by function are detailed as follows:


	For the year ended December 31, 2020
(in thousands of euros)	R&D	SG&A	Total
Amortization expense of intangible assets	(152)	(23)	(176)
Amortization expense of tangible assets	(1,250)	(329)	(1,579)
Utilization of provision for disputes	145	—	145
Provision for charges	—	(40)	(40)
Reversal of provision for disputes	—	19	19
Total depreciation, amortization and provision expenses	(1,257)	(373)	(1,630)


	For the year ended December 31, 2019
(in thousands of euros)	R&D	SG&A	Total
Amortization expense of intangible assets	(289)	(3)	(292)
Depreciation expense of property, plant and equipment	(1,208)	(270)	(1,478)
Utilization of provision for charges	—	55	55
Provision for charges	(112)	(52)	(164)
Total depreciation, amortization and provision expenses	(1,609)	(270)	(1,879)


	For the year ended December 31, 2018
(in thousands of euros)	R&D	SG&A	Total
Amortization expense of intangible assets	(90)	—	(90)
Depreciation expense of property, plant and equipment	(444)	(85)	(529)
Utilization of provision for charges	—	50	50
Total depreciation, amortization and provision expenses	(534)	(35)	(569)

Share-based payments

12 Months Ended

Dec. 31, 2020

Share-based Payments Arrangements [Abstract]

Net Financial Income (Loss) [Abstract]

Accounting policy

The Company has adopted a number of compensation plans since its inception. As of December 31, 2020, the Company had nine (9) outstanding founders’ warrant plans, fourteen (14) outstanding warrant plans, seven (7) stock option plans and three (3) outstanding free shares plans. 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 remuneration 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.

Detail of share-based payments

The Company has granted stock options, warrants, founders’ warrants and free shares 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 constructive obligation to pay the options in cash.

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.

The number of options and warrants outstanding on December 31, 2020 and their main characteristics, are detailed below:

Founders’ warrants


	Pre-2020 founders’ warrant plans
	BSPCE 2012-2	BSPCE 08-2013	BSPCE 09-2014	BSPCE 2015-1	BSPCE 2015-03
Type of underlying asset	New shares	New shares	New shares	New shares	New shares
Number of founder’s warrants granted	100,000	50,000	97,200	71,650	53,050
Date of shareholders' resolution approving the plan	05/04/2012	06/28/2013	06/18/2014	06/18/2014	06/18/2014
Grant date	12/18/2012	08/28/2013	09/16/2014	02/10/2015	06/10/2015
Contractual expiration date	12/18/2022	08/28/2023	09/16/2024	02/10/2025	06/10/2025
Grant price	—	—	—	—	—
Exercise price	€6.63	€5.92	€18.68	€18.57	€20.28
Number of founders’ warrants as of Number of founders’ warrants as of December 31, 2020	100,000	50,000	86,150	68,450	30,700
Number of founders’ warrants exercised	—	—	—	—	—
Including founders’ warrants exercised during the period	—	—	—	—	—
Number of founders’ warrants lapsed or cancelled	—	—	11,050	3,200	22,350
Including founders’ warrants lapsed or cancelled during the period	—	—	5,950	2,500	7,700


	Pre-2020 founders’ warrant plans
	BSPCE 2016 Ordinary	BSPCE 2016 Performance	BSPCE 2017 Ordinary	BSPCE 2017
Type of underlying asset	New shares	New shares	New shares	New shares
Number of founder’s warrants granted	126,400	129,250	117,650	80,000
Date of shareholders' resolution approving the plan	06/25/2015	06/25/2015	06/23/2016	06/23/2016
Grant date	02/02/2016	02/02/2016	01/07/2017	01/07/2017
Contractual expiration date	02/02/2026	02/02/2026	01/07/2027	01/07/2027
Grant price	—	—	—	—
Exercise price	€14.46	€14.46	€15.93	€15.93
Number of founders’ warrants as of December 31, 2020	100,917	101,700	100,850	80,000
Number of founders’ warrants exercised	333	—	—	—
Including founders’ warrants exercised during the period	—	—	—	—
Number of founders’ warrants lapsed or cancelled	25,150	27,550	16,800	—
Including founders’ warrants lapsed or cancelled during the period	9,050	1,302	6,316	—

Warrants


	Pre-2020 warrant plans
	BSA 04-2012	BSA 2013	BSA 2014	BSA 2015-1	BSA 2015-2 (a)	BSA 2015-2 (b)	BSA 2016 ordinary
Type of warrants	New shares	New shares	New shares	New shares	New shares	New shares	New shares
Number of warrants granted	52,500	10,000	14,000	26,000	64,000	6,000	18,103
Date of shareholders' resolution approving the plan	05/04/2012	05/04/2012	06/18/2014	06/18/2014	06/18/2014	06/25/2015	06/25/2015
Grant date	05/04/2012	04/10/2013	09/16/2014	02/10/2015	06/25/2015	06/25/2015	02/02/2016
Contractual expiration date	05/04/2022	04/10/2023	09/16/2024	02/10/2025	06/25/2025	06/25/2020	02/02/2021
Grant price	€0.60	€2.50	€4.87	€4.87	€5.00	€2.80	€1.67
Exercise price	€6.00	€6.37	€17.67	€17.67	€19.54	€19.54	€13.74
Number of warrants as of December 31, 2020	30,000	6,000	10,000	21,000	64,000	—	18,103
Number of warrants exercised	22,500	—	—	—	—	—	—
Including warrants exercised during the period	—	—	—	—	—	—	—
Number of warrants lapsed or cancelled	—	4,000	4,000	5,000	—	6,000	—
Including warrants lapsed or cancelled during the period	—	—	—	—	—	6,000	—


	Pre-2020 warrant plans
	BSA 2016 performance	BSA 2016-2	BSA 2017	BSA 2018-1	BSA 2018-2	BSA 2019-1
Type of warrants	New shares	New shares	New shares	New shares	New shares	New shares
Number of warrants granted	18,105	8,000	18,000	28,000	5,820	18,000
Date of shareholders' resolution approving the plan	06/25/2015	06/23/2016	06/23/2016	06/14/2017	05/23/2018	05/23/2018
Grant date	02/02/2016	11/03/2016	01/07/2017	03/06/2018	07/27/2018	03/29/2019
Contractual expiration date	02/02/2021	11/03/2021	01/07/2022	03/06/2023	07/27/2028	03/29/2029
Grant price	€1.67	€2.03	€2.26	€1.62	€2.36	€1.15
Number of warrants as of Exercise price	€13.74	€15.01	€15.76	€13.55	€16.102	€11.66
Number of warrants as of December 31, 2020	18,105	8,000	18,000	28,000	5,820	18,000
Number of warrants exercised	—	—	—	—	—	—
Including warrants exercised during the period	—	—	—	—	—	—
Number of warrants lapsed or cancelled	—	—	—	—	—	—
Including warrants lapsed or cancelled during the period	—	—	—	—	—	—


						2020 warrants
						BSA 2020
Type of warrants						New shares
Number of warrants granted						18,000
Date of shareholders' resolution approving the plan						04/11/2019
Grant date						03/17/2020
Contractual expiration date						03/17/2030
Grant price						€0.29
Number of warrants as of Exercise price						€6.59
Number of warrants as of December 31, 2020						18,000
Number of warrants exercised						—
Including warrants exercised during the period						—
Number of warrants lapsed or cancelled						—
Including warrants lapsed or cancelled during the period						—

Stock options


	Pre-2020 stock option plans
	OSA 2016-1 Performance	OSA 2016-2	OSA 2017 Ordinary	OSA 2018	OSA 2019-1	OSA LLY 2019
Type of underlying asset	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
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
Grant date	02/02/2016	11/03/2016	01/07/2017	03/06/2018	03/29/2019	10/24/2019
Contractual expiration date	02/02/2026	11/03/2026	01/07/2027	03/06/2028	03/29/2029	10/24/2029
Grant price	—	—	—	—	—	—
Exercise price	€13.05	€14.26	€14.97	€12.87	€11.08	€6.41
Number of options as of December 31, 2020	400	4,000	500	52,000	28,750	500,000
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	8,750	—
Including options lapsed or cancelled during the period	—	—	—	2,000	1,500	—


						2020 stock option plans
						OSA 2020
Type of underlying asset						New shares
Number of options granted						407,972
Date of shareholders' resolution approving the plan						04/11/2019
Grant date						03/11/2020
Contractual expiration date						03/11/2030
Grant price						—
Exercise price						€6.25
Number of options as of December 31, 2020						400,709
Number of options exercised						—
Number of options as of Including options exercised during the period						—
Number of options lapsed or cancelled						7,263
Including options lapsed or cancelled during the period						7,263

Free shares


	Pre-2020 free shares plan not yet vested			2020 free shares plan
	AGA 2018-1	AGA 2018-2	AGA 2019-1	AGA 2020
Type of underlying assets	New shares	New shares	New shares	New shares
Number of free shares granted	396,250	6,000	438,250	50,000
Date of shareholders' resolution approving the plan	06/14/2017	05/23/2018	05/23/2018	04/11/2019
Grant date	03/06/2018	07/27/2018	03/29/2019	03/11/2020
Grant price	—	—	—	—
Exercise price	—	—	—	—
Number of free shares as of December 31, 2020	24,500	—	372,000	50,000
Number of free shares exercised	316,083	6,000	—	—
Including free shares exercised during the period	316,083	6,000	—	—
Number of free shares lapsed or cancelled	55,667	—	66,250	—
Including free shares lapsed or cancelled during the period	14,667	—	13,000	—


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2020	718,767	263,028	986,359	446,500	2,414,654


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2019	751,585	251,028	589,150	746,250	2,338,013


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2018	2,505,732	233,028	62,900	375,250	3,176,910

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 €40, 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 a sample of listed companies in the biotechnology sector 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.

Except for the 2012-1 founders’ warrants, the fair value of the warrants and options was measured using the Black-Scholes model.

The fair value of 2012-1 founders’ warrants was determined using the Monte Carlo valuation model to take into account the exercise conditions, which depend on the realized gain compared to the expected stock market listing price.

As of December 31, 2020, the assumptions on the probability the performance conditions would be met for the 2016 BSPCE, BSA and OSA performance plans were updated.


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
BSPCE 2012-1	5.26	5.26	41	%	3.49	0.20	%	0.00	%	307	—	—	—
BSPCE 2012-2	6.65	6.63	44.3% - 47.6%		5 - 7.30	0.84% - 1.22%		0.00	%	288	—	—	—
BSPCE 04-2013	6.30	6.30	56	%	5	0.90	%	0.00	%	167	—	—	—
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	%	932	—	—	2
BSPCE 2015-1	18.57	18.57	58% - 62% - 61%		5.5/6/6.5	0.39	%	0.00	%	50	—	—	1
BSPCE 2015-2	18.57	18.57	58% - 62% - 61%		5.5/6/6.5	0.39	%	0.00	%	650	—	—	9
BSPCE 2015-3	20.28	20.28	61% - 62% - 61%		5.5/6/6.5	0.56	%	0.00	%	483	—	—	18
BSPCE 2016 Ordinary	14.46	14.46	59% - 62% - 60%		5.5/6/6.5	0.32	%	0.00	%	1,080	—	10	128
BSPCE 2016 Performance	14.46	14.46	59	%	5	0.19	%	0.00	%	1,212	99	79	(405)
BSPCE 2017 Ordinary	15.93	15.93	58% - 61% - 59%		5.5/6/6.5	0.23	%	0.00	%	1,000	8	86	255
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	—	—	(47)
Total BSPCE	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	107	175	(39)


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
BSA 2012	6.00	6.00	49	%	10	0.96	%	0.00	%	183	—	—	—
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	17.67	19.54	58%-58%-57%-58%		5/5.1/5.3/5.4	0.39	%	0.00	%	16	—	—	—
BSA 2015-3	19.54	19.54	58% - 60%		4.6 – 9.6	0.25% - 0.91%		0.00	%	284	—	—	—
BSA 2016o-1	13.74	13.74	57	%	2.4	0.00	%	0.00	%	37	—	—	—
BSA 2016p-1	13.74	13.74	57	%	2.4	0.00	%	0.00	%	143	—	(41)	(42)
BSA 2016-2	15.01	15.01	57	%	2.4	0.00	%	0.00	%	—	—	—	—
BSA 2017o-1	15.76	15.76	33	%	2.4	0.00	%	0.00	%	—	—	—	—
BSA 2018-1	13.55	13.55	38	%	4.8	0.7% - 0.1%		0.00	%	2	—	—	3
BSA 2018-2	16.102	16.102	38	%	4.8	0.7% - 0.1%		0.00	%	1	0	—	—
BSA 2019-1	11.66	11.66	37	%	9.8/9.9	0.16% - 0.50%		0.00	%	24	—	24	—
BSA 2020	—	6.59	38	%	10	-0.13%/ -0.07%		0.00	%	19	19	—	—
Total BSA	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	19	(16)	(39)


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
OSA 2016 Ordinary	13.05	13.05	59% - 62% - 60%		5.5 / 6 /6.5	0.32	%	0.00	%	117	—	—	(64)
OSA 2016 Performance	13.05	13.05	59	%	5	0.19	%	0.00	%	69	—	—	(55)
OSA 2016-2	14.26	14.26	58% - 62% - 59%		5.5 / 6 /6.5	0.04	%	0.00	%	27	—	3	7
OSA 2017 Ordinary	15.93	14.97	58% - 61% - 59%		5.5 / 6 /6.5	0.23	%	0.00	%	31	—	1	(14)
OSA 2017 Performance	15.93	14.97	59	%	5	0.11	%	0.00	%	35	—	—	—
OSA 2018	12.87	12.87	35	%	5.5 / 6 /6.5	0.00	%	0.00	%	252	7	66	164
OSA 2019-1	11.08	11.08	38.1% / 37.4%		6 /6.5	0.103% / 0.149%		0.00	%	140	49	38	n.a.
OSA 2019-2	6.41	6.41	37	%	10	0.40	%	0.00	%	252	—	436	n.a.
OSA 2020	6.25	6.25	38	%	10	0.31	%	0.00	%	939	453	—	—
Total OSA	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	509	543	38


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
AGA 2018-1	12.87	0.00	n.a.	n.a.	0.00	%	0.00	%	4,951	268	2,052	1,891
AGA 2018-2	12.87	0.00	n.a.	n.a.	0.00	%	0.00	%	75	21	37	16
AGA 2019-1	10.90	0.00	n.a.	n.a.	0.19% / 0.141%		0.00	%	4,776	1,884	1,529	n.a.
AGA 2020	5.90	0.00	n.a.	n.a.	-0.74%/-0.69%		0.00	%	287	116	—	—
Total AGA	n.a.	n.a.	n.a.	n.a.	n.a.		n.a.		n.a.	2,289	3,618	1,907


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2020	107	19	509	2,289	2,924


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2019	175	(16)	543	3,618	4,320


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2018	(39)	(39)	38	1,907	1,867

Net financial income (loss)

12 Months Ended

Dec. 31, 2020

Net financial income (loss)


	For the years ended December 31,
(in thousands of euros)	2020	2019	2018
Income from cash and cash equivalents	—	105	34
Foreign exchange gains	104	599	1,051
Other financial income	97	133	87
Total financial income	201	837	1,172
Interest cost (1)	4,676	(4,434)	(847)
IFRS 16 related interests	(333)	(359)	—
Foreign exchange losses	(1,697)	(176)	(602)
Total financial expenses	2,646	(4,970)	(1,449)
Net financial income (loss)	2,847	(4,133)	(277)

(1)Including EIB loan interests, €1.7 million of fixed interests, offset by a net amount of €6.5 million of variable interests catch-up and discounting impact in 2020, as compared with a net interest cost of €4.4 million in 2019 and €730 thousand in 2018 (including fixed and variable interests, as well as catch-up and discounting impact).

For the year ended December 31, 2020, the interest cost was a positive net amount of €4.7 million, substantially due to the EIB loan interests and discounting impact (see Note 12.1 Conditional advance, bank loan and loans from government and public authorities) which was a net income of €4.8 million in 2020 as a result of the EIB royalties sales reforecast catch up effect, (offset by €1.7 million impact of EIB fixed interests and the accretion of the debt cost).

In 2020, the Company had foreign exchange losses for the total amount of €1.7 million. This impact was first arising from retaining $113.3 million from the gross proceeds of the global offering in a US dollar bank account. As of December 31, 2020, the proceeds from this initial public offering are still held in US dollars in the Company’s current account for a total amount of €72.0 million and will be used to pay services invoiced in US dollar. The remaining factors for this increase in foreign exchange risk is the one-time closing of a specific bank account. While part of the reasons for these foreign exchange losses were related to one-time events, the Company is currently updating its assessment of this risk for the year 2021 (see Note 14 of our consolidated financial statements).

Segment reporting	12 Months Ended
Segment reporting	Dec. 31, 2020
Disclosure Of Segment Reporting [Abstract]
Segment reporting	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. Revenue in 2020, 2019 and 2018 was derived mainly from the charging-back of shared external clinical research organization costs, in connection with the development support provided by the Company to PharmaEngine as part of the Company's License and Collaboration Agreement in Asia by Nanobiotix S.A. (see Note 15). For territorial analysis purposes, management allocates revenue based on the place of delivery of licenses or on the place in which services are provided.

Loss per share

12 Months Ended

Dec. 31, 2020

Disclosure Of 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 and founder subscription warrants as detailed in Note 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,
	2020	2019	2018
Net loss for the period (in thousands of euros)	(33,590)	(50,915)	(30,345)
Weighted average number of shares	24,385,827	21,631,514	19,633,373
Basic loss per share (in euros)	(1.38)	(2.35)	(1.55)
Diluted loss per share (in euros)	(1.38)	(2.35)	(1.55)

Instruments providing deferred access to the capital (stock options) are considered to be anti-dilutive because they result in a decrease in the loss per share. Therefore, diluted loss per share are identical to basic loss per share as all equity instruments issued, representing 475,972 potential additional ordinary shares, have been considered antidilutive.

Commitments	12 Months Ended
Commitments	Dec. 31, 2020
Disclosure Of Commitments [Abstract]
Commitments	Commitments 22.1 Obligations under the loan agreement with the EIB 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 net present value of the royalties as determined by an independent expert, such amount not to be less than €35.0 million. The EIB finance contract contains covenants that impose restrictions on the operation of the Company's business but no financial covenants that the Company is required to comply with. 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) are as follow: •One short term lease for an office by Nanobiotix Corp., of which the annual rent is €121 thousand; and •Leases related to low-value assets for Nanobiotix SA’s printers, of which the annual rent is around €3 thousand. 22.3 Obligations related to the MD Anderson agreement In January 2019, the Company and the University of Texas MD Anderson Cancer Center, world prominent center of research, education, prevention and care for cancer patients announced a large-scale research collaboration. The collaboration will support multiple new Phase I/II clinical trials involving around 340 patients with Nanobiotix’s first-in-class agent NBTXR3 for use in treating several cancer types – including head and neck, pancreatic, thoracic, lung, gastrointestinal and genitourinary cancers. 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 will be made in the 6 months following a patient enrollment, and expense is recorded in the statement of consolidated operations during the course of the collaboration on the basis of patients enrolled during the relevant period, with the balance payable 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. The milestone payment increases on an annual basis ranging from $2.2 million to $16.4 million. The amount will be determined on the basis of patients enrolled in the clinical trials at the date of FDA registration. This number increases every year and varies between $2.2 million (if it had been payable in 2020) and $16.4 million (if payable in 2030). As of December 31, 2020, $2 million have already been invoiced since the beginning of the collaboration and €1.7 million remain in prepaid expenses. An additional payment will also occur in the event of a successful first registration of NBTXR3 with the FDA.

Related parties

12 Months Ended

Dec. 31, 2020

Disclosure Of Related Party [Abstract]

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)	2020	2019	2018
Salaries, wages and benefits	1,073	1,306	1,437
Share-based payments	1,723	2,066	1,068
Supervisory Board’s fees	70	70	70
Total compensation to related parties	2,866	3,442	2,575

The methods used to measure share-based payments are presented in Note 17.

Subsequent events	12 Months Ended
Subsequent events	Dec. 31, 2020
Disclosure Of 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 approval of the financial statements 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. Detail of subsequent events Nanobiotix and PharmaEngine mutually agree to conclude collaboration In November 2020, Nanobiotix notified PharmaEngine of a material breach of the terms of the License and Collaboration agreement. In a letter dated December 1, 2020, PharmaEngine responded to the Company’s notification of material breach, denying a material breach of the License and Collaboration agreement, and asserting certain material breaches of that agreement by Nanobiotix. The License and Collaboration agreement provided PharmaEngine exclusive rights to further the development of NBTXR3 in the Asia-Pacific region. While both Nanobiotix and PharmaEngine believe in the potential of NBTXR3 to improve treatment outcomes for patients with cancer, the parties have had disagreements regarding the optimal strategy for development in the Asia-Pacific region. As such, after discussion between the two parties, Nanobiotix and PharmaEngine have mutually agreed to discontinue the collaboration. This agreement to terminate the License and Collaboration agreement represents a full resolution of outstanding disagreements over a number of issues with respect to the development of NBTXR3 in the Asia-Pacific region. Pursuant to their Termination and Release agreement in March 2021, Nanobiotix will retain all rights to the development and commercialization of NBTXR3 in the Asia-Pacific region. PharmaEngine is to receive payments, not to exceed $5 million in total, upon the completion of various administrative steps in connection with the winding-up of the collaboration. In the future, PharmaEngine will be entitled to receive a payment of $7.5 million upon a second regulatory approval of NBTXR3 in any jurisdiction of the world for any indication, unless the Company announces a collaboration with a new partner for the Asia-Pacific region within 6 months of the effective date of the agreement. If that occurs, PharmaEngine will be entitled to an immediate $2.5 million payment and will be eligible to receive a payment of the remaining $5 million upon such second regulatory approval of an NBTXR3-containing product. 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.

Consolidation principles and methods (Policies)	12 Months Ended
Consolidation principles and methods (Policies)	Dec. 31, 2020
Significant Accounting Policies [Abstract]
General principles and Statement of Compliance and Basis of Presentation	General principles The statement of consolidated financial position as of December 31, 2020 and 2019 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, 2020, 2019 and 2018 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 March 17, 2021. 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 for additional information). The consolidated financial statements have been prepared using the historical cost measurement basis, with the exception of financial assets and liabilities, which are measured at fair value. The consolidated financial statements were prepared on a going concern basis. The Executive Board determined it is appropriate to apply a going concern assumption because the Company’s historical losses are due to the innovative nature of the products it is developing, which necessitates a research and development phase spanning several years. With cash and cash equivalents of €119,151 thousand as of December 31, 2020, including the proceeds from the US initial public offering in December 2020 (see Significant events of the period in the Note 1) the Company believes it has sufficient resources to continue operating for at least twelve months following the consolidated financial statements’ publication. 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, 2020. The consolidated financial statements are also compliant with IFRS as adopted by the European Union. The accounting principles used to prepare the consolidated financial statements for the fiscal year ended December 31, 2020 are identical to those used for the previous year except for the standards listed below that required adoption in 2020. 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, 2020: •Amendments to IAS 39, IFRS 9 and IFRS 7 related to the interest rate benchmark reform (“IBOR”); •Amendments to IFRS 3 - Business combinations, definition of a business; •Amendments to IFRS 16 - Covid-19 Related rent concession; and •Amendments to References to the Conceptual Framework in IFRS standards, issued in March 2018 (Amendments to IAS 1 - Presentation of financial statements and IAS 8 - Accounting policies, change in accounting policies, change in accounting estimates and errors) – definition of material applicable for periods beginning after January 1, 2020. The application of these standards had no impact on the consolidated financial statements of the Company. Application of New or Amended Standards and Interpretations early adopted by the Company The Company elected to early adopt no new standards, amendments and interpretations which application was not yet mandatory for the year ended December 31, 2020. Application of New or Amended Standards and Interpretations not yet applied by the Company The application of the following new standards, amendments and interpretations was not yet mandatory for the year ended December 31, 2020 : •IFRS 17 - Insurance contracts and related amendments. No impact expected on the financial statements. •Amendment to IAS 1 - Classification of Liabilities as Current or Non-Current. No significant impact expected on the financial statements. •Amendment to IAS 37, Onerous Contracts — Cost of Fulfilling a Contract. No significant impact expected on the financial statements. •Amendment to IFRS 3 – Conceptual framework. No significant impact expected on the financial statements. •Amendments IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16, phase 2. No significant impact expected on the financial statements.
Impact of IFRS 16 first application	2.1 Impact of IFRS 16 first application The Company has adopted IFRS 16, Leases, as of January 1, 2019 using the modified retrospective method. Upon adoption, the Company recorded: •a right of use asset equivalent to the initial debt, net of any lease incentives provided by the lessor and •a lease liability for the discounted lease payments outstanding for the remaining reasonably certain lease term. The Company’s equity was not impacted by the first application of IFRS 16. The application of IFRS 16 has no impact on the Company’s cash and cash equivalents. The main operating leases falling within the scope of IFRS 16 are the leases entered into for the Company’s headquarters and research buildings. The Company used the following practical expedients: •the use of a single discount rate to a portfolio of leases with reasonably similar characteristics; •the reliance on previous assessments on whether leases are onerous; •the exclusion of payments related to operating leases with a remaining lease term of less than 12 months without option to buy (short-term leases) and leases related to low-value assets recorded in operating expenses (as under IAS 17); •the exclusion of initial direct costs for the measurement of the right-of-use asset at the date of initial application; and •the use of hindsight in determining the lease term where the contract contains options to extend or terminate the lease. On adoption of IFRS 16, the Company recognized the “lease liabilities” in relation to leases which had previously been classified as “operating leases” under the principles of IAS 17 Leases. These liabilities were measured at the present value of the remaining lease payments, discounted using the lessee’s incremental borrowing rate as of January 1, 2019. The discount rate used at the transition date corresponds to the incremental borrowing rate that would be obtained for a loan entered into for an equivalent period as the remaining duration of the on-going lease contracts at the transition date. For future contracts, and in the absence of an implicit rate, the same method will be used. The weighted average incremental borrowing rates applied to the lease liabilities on January 1, 2019 are 4.87% for transport equipment and 5.33% for buildings. As the Company applied IFRS 16 following the modified retrospective method, the comparative financial statements as of and for the year ended December 31, 2018 are not restated.
Basis of consolidation	3.1 Basis of consolidation Accounting policy In accordance with IFRS 10 – Consolidated Financial Statements, an entity is consolidated when it is controlled by the Company. The Company has decision-making authority over the financial and operating policies of all its subsidiaries and holds greater than 50% of the voting rights of each subsidiary. 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 were $1.2271 as of December 31, 2020 and an average of $1.1413 for the year ended December 31, 2020 (source: Banque de France) compared with $1.1234 and $1.1196, for 2019 and $1.1450 and $1.1815 for 2018, 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, 2020, the Company involves 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 Boston, Massachusetts. Accordingly, the consolidated financial statements as of and for the year ended December 31, 2020 include the operations of each of these subsidiaries from the date of their incorporation. The consolidated financial statements as of and for the year ended December 31, 2019 include the operations of each of these subsidiaries from the date of their incorporation, excluding Curadigm Corp, which was created in 2020. The consolidated financial statements as of and for the year ended December 31, 2018 include the operations of each of these subsidiaries from the date of their incorporation, excluding Curadigm Corp and Curadigm SAS, which were respectively created in 2020 and 2019.
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. The main items affected by the use of estimates are share-based payments, deferred tax assets, clinical trials accruals, revenue recognition and the fair value of financial instruments. 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., vesting terms) and market data (e.g., expected share volatility) (see Note 11). 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 temporary differences 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 (see Note 19). 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 income projections judged to be sufficiently reliable to be made, the Company has not recognized deferred tax assets in relation to tax losses 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 for information regarding the clinical trial accruals as of December 31, 2020 and 2019. Revenue recognition In order to determine the amount and timing of revenue under the contract with PharmaEngine, the Company is required to use significant judgments, mainly with respect to identifying performance obligations of the Company and determining the timing of satisfaction of support services provided to PharmaEngine. See Note 15 for additional detail regarding the Company’s accounting policies for its additional sources of revenue. Fair value of financial assets and liabilities The fair value measurement of the loan granted by European Investment Bank (“EIB”) requires the Company to assess 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 on January 1, 2021. 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 the Company’s annual sales turnover. For the purpose of measuring the fair value of the EIB loan, the Company forecasts the sales that it expects to generate during the royalty period, taking into consideration the operational assumptions such as market release dates of the products, growth and penetration rate in each market. (see notes 4.2 and 12 for details about this loan and the accounting treatment applied).
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 2020 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 36. 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 Non-current financial assets are recognized and measured in accordance with IFRS 9 – Financial Instruments. Pursuant to IFRS 9 – Financial Instruments, financial assets are classified in two categories according to their nature and the intention of management: •Financial assets at fair value through profit and loss; 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 and liabilities 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.
Trade receivables	Trade receivablesTrade receivables relate mainly to invoices issued to PharmaEngine, in connection with the charging-back of shared external clinical research organization costs under the License and Collaboration Agreement as amended (see Note 4 for more detail on the License and Collaboration Agreement).
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 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. Based on this method, the cost of retirement is recorded in income such that the amount is distributed uniformly over the term of the employee’s career. 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, 2020 and 2019, 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).
Financial liabilities	Accounting policies 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. Grants are recognized as Grants receivable as soon as the assurance that the payment will be received is obtained and not when actual payment is made. A portion of the grants is then recognized in Deferred income to the extent that the related expenditures have not yet been made. 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.
Trade and other payables	Accounting policies Accounting policies for Trade and other payables are described in Note 12, ‘‘Financial Liabilities.’’ 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.
Revenue and other income	Revenues 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 to the license and collaboration agreement with PharmaEngine Under the License and Collaboration Agreement, the Company’s and PharmaEngine’s rights are clearly identified and, financial terms are defined in the contract. The contract has commercial substance (the Company’s cash flows have been affected by the terms of the contract) and the Company has collected and is entitled to collect in the future consideration in exchange for the goods and services transferred to PharmaEngine. The Company identified three performance obligations in the License and Collaboration Agreement described under Note 4 above: •the license of the right to use the Company’s patent and know-how; •the support provided by the Company to PharmaEngine until the first regulatory approval is granted in PharmaEngine’s territory that the Company views as a series of distinct periods of access to information and experience that is satisfied over time; and •the supply of NBTXR3 to PharmaEngine. An upfront payment of $1.0 million was fully recognized as revenue when the license was transferred to PharmaEngine in 2012. Development milestones constitute variable payments that are recognized over-time. As milestone payment timing was defined to reflect the efforts of both parties over time and were amended to reflect all changes in the contractual development plan, the Company concluded that the terms of variable payments reflect its efforts to satisfy the performance obligation related to each development phase and that no portion if any of such consideration that would relate to the license would impact the timing of recognition because of the highly probable collectability requirement. On this basis, the first milestone payment of $1 million (upon signature of the first amendment that allowed PharmaEngine to benefit from the results of the Company’s clinical studies for soft-tissue sarcoma indication) and the second milestone payment of $1 million (first patient’s injection with NBTXR3 in soft tissue sarcoma study in Asia) were received and recognized in 2014 and 2016, respectively. The next milestone will be received following the first filing for regulatory approval for marketing NBTXR3 in PharmaEngine ’s territory, which had not occurred as of December 31, 2020. Royalties are considered at market conditions and will be fully recognized once the subsequent sales occur. In the years ended December 31, 2020, 2019 and 2018, no payment was received, and no revenue was recognized for this contract. The next payments expected in the PharmaEngine contract are disclosed in the Note 24 – Subsequent events of our consolidated financial statements. 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. The portion 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	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).
Share-based payments	Accounting policy The Company has adopted a number of compensation plans since its inception. As of December 31, 2020, the Company had nine (9) outstanding founders’ warrant plans, fourteen (14) outstanding warrant plans, seven (7) stock option plans and three (3) outstanding free shares plans. 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 remuneration 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.
Income tax	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 accounting basis of assets and liabilities in the financial statements. The main temporary differences relate to tax loss carryforwards. The prevailing income tax rates on the reporting date are used to determine deferred taxes. 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. Revenue in 2020, 2019 and 2018 was derived mainly from the charging-back of shared external clinical research organization costs, in connection with the development support provided by the Company to PharmaEngine as part of the Company's License and Collaboration Agreement in Asia by Nanobiotix S.A. (see Note 15). For territorial analysis purposes, management allocates revenue based on the place of delivery of licenses or on the place in which services are provided.
Loss per share	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 and founder subscription warrants as detailed in Note 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	The statements of consolidated financial position and statements of consolidated operations are adjusted for post-closing events prior to the approval of the financial statements 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.

General Information, Statement of Compliance and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2020

General Information, Statement of Compliance and Basis of Presentation [Abstract]

Disclosure of impact of IFRS 16 first application on the statement of financial position

The following tables detail the main impacts of IFRS 16 as of the date of first application.

Reconciliation between the Company’s operating leases commitments as of December 31, 2018 and the lease liability as of January 1, 2019


(in thousands of euros)
Operating lease commitments disclosed as at December 31, 2018						6,407
Rent reevaluated with the 2019 index (1)						294
2018 contracts not previously included in commitments						216
Discounting impact of lines above						(1,234)
Prepaid expenses related to IFRS 16 contracts as of December 31, 2018						(114)
Lease liabilities recognized as at January 1, 2019						5,569
Of which:
Current lease liabilities						741
Non-current lease liabilities						4,828

Impact of IFRS 16 first application on the statement of financial position (increase/(decrease)) at the date of initial application (January 1, 2019)


	As of December 31, 2018	IFRS 16 impacts	As of January 1, 2019
(in thousands of euros)	(As published)		(IFRS16 restated)
ASSETS
Total non-current assets	3,544	5,500	9,044
Of which Property, plant and equipment	2,884	5,500	8,384
Total current assets	42,651	(114)	42,537
Of which Other current assets	6,422	(114)	6,308
TOTAL ASSETS	46,195	5,386	51,581

LIABILITIES AND SHAREHOLDERS’ EQUITY
Total shareholders’ equity	14,243	—	14,243
Total non-current liabilities	20,358	4,828	25,186
Of which Non-current financial liabilities	20,021	4,828	24,849
Total current liabilities	11,597	558	12,155
Of which Current financial liabilities	500	741	1,241
Of which Other current liabilities	4,533	(183)	4,350
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	46,195	5,386	51,581

Intangible assets (Tables)

12 Months Ended

Dec. 31, 2020

Intangible assets other than goodwill [abstract]

Disclosure of reconciliation of changes in intangible assets

The change in intangible assets breaks down as follows:


(in thousands of euros)	As of January 1, 2020	Increases	Decreases	Transfer	As of December 31, 2020
Patents	65	—	—	—	65
Software	584	11	(5)	61	651
Intangible assets in progress	61	—	—	(61)	—
Gross book value of intangible assets	710	11	(5)	—	717
Patents	(65)	—	—	—	(65)
Software	(483)	(152)	5	(0)	(630)
Accumulated depreciation of intangible assets (1)	(548)	(152)	5	—	(695)
Net book value of intangible assets	163	(141)	—	(0)	21

(1)Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses


(in thousands of euros)	As of January 1, 2019	Increases	Decreases	Transfer	As of December 31, 2019
Patents	65	—	—	—	65
Software	293	291	—	—	584
Intangible assets in progress	—	61	—	—	61
Gross book value of intangible assets	358	353	—	—	710
Patents	(65)	—	—	—	(65)
Software	(191)	(292)	—	—	(483)
Accumulated depreciation of intangible assets (1)	(256)	(292)	—	—	(548)
Net book value of intangible assets	102	61	—	—	163

(1)Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses

Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, plant and equipment [abstract]

Disclosure of detailed information about property, plant and equipment

The change in property, plant and equipment is as follows:


(in thousands of euros)	As of January 1, 2020	Increases	Decreases	Other movements & transfer.	Currency translation	As of December 31, 2020
Fixtures, fittings and installations	3,297	16	—	—	—	3,313
Right of use – Buildings	6,766	418	(14)	—	—	7,171
Technical equipment	2,019	42	—	—	—	2,061
Office and IT equipment	957	37	(1)	—	(4)	988
Transport equipment	34	—	—	—	(3)	31
Right of use – Transport equipment	115	—	(41)	(5)	(4)	65
Tangible assets in progress	11	1	—	(11)	—	1
Prepayments on tangible assets	—	0	—	—	—	0
Gross book value of tangible assets	13,197	515	(57)	(15)	(11)	13,630
Fixtures, fittings and installations	(1,001)	(320)	—	—	—	(1,320)
Right of use – Buildings	(829)	(911)	—	2	—	(1,739)
Technical equipment	(1,272)	(194)	—	—	—	(1,466)
Office and IT equipment	(629)	(157)	1	—	2	(783)
Transport equipment	(34)	—	—	1	3	(31)
Right of use – Transport equipment	(45)	(35)	42	—	1	(36)
Accumulated depreciation of tangible assets(1)	(3,811)	(1,616)	43	4	6	(5,374)
Net book value of tangible assets	9,386	(1,101)	(14)	(12)	(4)	8,256

(1)Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses


(in thousands of euros)	As of January 1, 2019	Increases	Decreases	Other movements & transfer.	As of December 31, 2019
Fixtures, fittings and installations	2,480	815	—	2	3,297
Right of use – Buildings	5,416	1,349	—	—	6,766
Technical equipment	1,925	120	—	(25)	2,019
Office and IT equipment	828	145	(13)	(4)	957
Transport equipment	33	—	—	—	34
Right of use – Transport equipment	83	82	(51)	—	115
Tangible assets in progress	—	11	—	—	11
Prepayments on tangible assets	2	—	—	(2)	—
Gross book value of tangible assets	10,768	2,522	(64)	(29)	13,197
Fixtures, fittings and installations	(750)	(251)	—	—	(1,001)
Right of use – Buildings	—	(829)	—	—	(829)
Technical equipment	(1,123)	(175)	—	25	(1,272)
Office and IT equipment	(483)	(162)	12	4	(629)
Transport equipment	(28)	(6)	—	—	(34)
Right of use – Transport equipment	—	(55)	10	—	(45)
Accumulated depreciation of tangible assets(1)	(2,384)	(1,478)	22	29	(3,811)
Net book value of tangible assets	8,384	1,044	(42)	—	9,386

(1)Expenses for the period are detailed in Note 16.4 Depreciation, amortization and provisions expenses

Non-current financial assets (Tables)

12 Months Ended

Dec. 31, 2020

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)	Other long- term investments pledged as collateral	Security deposits paid	Total
Net book value as of December 31, 2018	176	—	383	558
Additions	—	—	65	65
Decreases	(45)	—	(49)	(94)
Net book value as of December 31, 2019	131	—	399	529
Additions	—	—	9	9
Decreases	(27)	—	(5)	(31)
Currency translation adjustments	—	—	(2)	(2)
Net book value as of December 31, 2020	105	—	401	505

(1)See note 10.2 Treasury shares

Trade receivables and other current assets (Tables)

12 Months Ended

Dec. 31, 2020

Subclassifications of assets, liabilities and equities [abstract]

Disclosure of break down of trade receivables


	As of December 31,
(in thousands of euros)	2020	2019
Trade receivables	62	11
Trade receivables	62	11

Trade receivables break down as follows:


	As of December 31,
(in thousands of euros)	2020	2019
Due in 3 months or less	62	11
Due between 3 and 6 months	—	—
Due between 6 and 12 months	—	—
Due after more than 12 months	—	—
Trade receivables	62	11

Disclosure of break down of other current assets

Other current assets break down as follows:


	As of December 31,
(in thousands of euros)	2020	2019
Research tax credit receivable	1,927	5,688
VAT receivable	971	1,419
Prepaid expenses	2,217	2,671
Other receivables	920	1,245
Other current assets	6,035	11,022

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 January 1, 2019			3,251
2019 research tax credit - Nanobiotix SA & Curadigm SAS			2,437
Receivable as of December 31, 2019			5,688
Refund of 2018 research tax credit – Nanobiotix SA			(3,251)
Refund of 2019 research tax credit – Nanobiotix SA			(2,374)
Refund of 2019 research tax credit – Curadigm SAS			(64)
2020 research tax credit – Nanobiotix SA			1,858
2020 research tax credit – Curadigm SAS			69
Receivable as of December 31, 2020			1,927

Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2020

Subclassifications of assets, liabilities and equities [abstract]

Summary of cash and cash equivalents

Cash and cash equivalent break down as follows:


(in thousands of euros)	As of December 31, 2020	As of December 31, 2019
Short-term bank deposits	—	10,000
Cash and bank accounts	119,151	25,094
Net cash and cash equivalents	119,151	35,094

Share capital (Tables)

12 Months Ended

Dec. 31, 2020

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
January 1, 2019		589	122,799	19,633,373
March 29, 2019	Grant of 2019 free shares	—	(13)	—
April 9, 2019	Capital increase	77	29,440	2,566,666
April 9, 2019	Cost of capital increase	—	(1,438)	—
April 25, 2019	Exercise of 2012 founder’s warrants	5	955	160,000
May 1, 2019	Subscription of 2019 warrants	—	3	—
May 21, 2019	Subscription of 2019 warrants	—	6	—
June 24, 2019	Subscription of 2019 warrants	—	3	—
June 25, 2019	Subscription of 2019 warrants	—	3	—
June 28, 2019	Subscription of 2019 warrants	—	5	—
July 17, 2019	Exercise of 2013 founder’s warrants	2	345	55,000
December 31, 2019	U.S. Initial public offering costs reversal	—	1,030	—
December 31, 2019		672	153,139	22,415,039
March 6, 2020	Capital increase	9	0	316,083
June 24, 2020	Subscription of 2020 warrants	—	1	—
June 26, 2020	Subscription of 2020 warrants	—	1	—
June 29, 2020	Subscription of 2020 warrants	—	2	—
June 30, 2020	Subscription of 2020 warrants	—	1	—
July 27, 2020	Capital increase	—	—	6,000
July 28, 2020	Private placement Capital increase	99	20,030	3,300,000
July 28, 2020	Private placement Capital increase transaction costs	—	(1,387)	—
December 16, 2020	U.S. Initial public offering initial deal € - Nasdaq (€11.14)	56	20,609	1,855,000
December 16, 2020	U.S. Initial public offering initial deal $ - Nasdaq ($13.50)	163	60,494	5,445,000
December 18, 2020	U.S. Initial public offering green shoe $ - Nasdaq ($13.50)	33	12,165	1,095,000
December 18, 2020	U.S. Initial public offering costs	—	(9,322)	—
December 31, 2020		1,033	255,735	34,432,122

Disclosure of detail of change in founders' warrants, warrants, free shares

The following tables summarize activity in these plans during the years ended December 31, 2020 and 2019.

BSA


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2020	Issued	Exercised	Forfeited	Outstanding at December 31, 2020	Number of shares issuable
BSA 04-12	May 4, 2012	6.00	30,000	—	—	—	30,000	30,000
BSA 2013	April 10, 2013	6.37	6,000	—	—	—	6,000	6,000
BSA 2014	Sept. 16, 2014	17.67	10,000	—	—	—	10,000	10,000
BSA 2015-1	February 10, 2015	17.67	21,000	—	—	—	21,000	21,000
BSA 2015-2(a)	June 25, 2015	19.54	64,000	—	—	—	64,000	64,000
BSA 2015-2(b)	June 25, 2015	19.54	6,000	—	—	(6,000)	—	—
BSA 2016	February 2, 2016	13.74	36,208	—	—	—	36,208	36,208
BSA 2016-2	November 3, 2016	15.01	8,000	—	—	—	8,000	8,000
BSA 2017	January 7, 2017	15.76	18,000	—	—	—	18,000	18,000
BSA 2018-1	March 6, 2018	13.55	28,000	—	—	—	28,000	28,000
BSA 2018-2	July 27, 2018	16.102	5,820	—	—	—	5,820	5,820
BSA 2019-1	March 29, 2019	11.66	18,000	—	—	—	18,000	18,000
BSA 2020	March 17, 2020	6.59	—	18,000	—	—	18,000	18,000
Total			251,028	18,000	—	(6,000)	263,028	263,028


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2019	Issued	Exercised	Forfeited	Outstanding at December 31, 2019	Number of shares issuable
BSA 04-12	May 4, 2012	6.00	30,000	—	—	—	30,000	30,000
BSA 2013	April 10, 2013	6.37	6,000	—	—	—	6,000	6,000
BSA 2014	Sept. 16, 2014	17.67	10,000	—	—	—	10,000	10,000
BSA 2015-1	February 10, 2015	17.67	4,000	—	—	—	4,000	4,000
BSA 2015-1	February 10, 2015	17.67	17,000	—	—	—	17,000	17,000
BSA 2015-2(a)	June 25, 2015	19.54	64,000	—	—	—	64,000	64,000
BSA 2015-2(b)	June 25, 2015	19.54	6,000	—	—	—	6,000	6,000
BSA 2016	February 2, 2016	13.74	36,208	—	—	—	36,208	36,208
BSA 2016-2	November 3, 2016	15.01	8,000	—	—	—	8,000	8,000
BSA 2017	January 7, 2017	15.76	18,000	—	—	—	18,000	18,000
BSA 2018-1	March 6, 2018	13.55	28,000	—	—	—	28,000	28,000
BSA 2018-2	July 27, 2018	16.102	5,820	—	—	—	5,820	5,820
BSA 2019-1	March 29, 2019	11.66	—	18,000	—	—	18,000	18,000
Total			233,028	18,000	—	—	251,028	251,028

BSPCE


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2020	Issued	Exercised	Forfeited	Outstanding at December 31, 2020	Number of shares issuable
BSPCE 2012-2	December 18, 2012	6.63	100,000	—	—	—	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	92,100	—	—	(5,950)	86,150	86,150
BSPCE 2015-1	February 10, 2015	18.57	70,950	—	—	(2,500)	68,450	68,450
BSPCE 2015-3	June 10, 2015	20.28	38,400	—	—	(7,700)	30,700	30,700
BSPCE 2016	February 2, 2016	14.46	212,969	—	—	(10,352)	202,617	202,617
BSPCE 2017	January 7, 2017	15.93	187,166	—	—	(6,316)	180,850	180,850
Total			751,585	—	—	(32,818)	718,767	718,767


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2019	Issued	Exercised	Forfeited	Outstanding at December 31, 2019	Number of shares issuable
BSPCE 2012-1	May 4, 2012	6.00	1,674,548	—	(160,000)	(1,514,548)	—	—
BSPCE 2012-2	December 18, 2012	6.63	100,000	—	—	—	100,000	100,000
BSPCE 04-2013	April 10, 2013	6.30	55,000	—	(55,000)	—	—	—
BSPCE 08-2013	August 28, 2013	5.92	50,000	—	—	—	50,000	50,000
BSPCE 09-2014	September 16, 2014	18.68	92,100	—	—	—	92,100	92,100
BSPCE 2015-1	February 10, 2015	18.57	70,950	—	—	—	70,950	70,950
BSPCE 2015-3	June 10, 2015	20.28	39,750	—	—	(1,350)	38,400	38,400
BSPCE 2016	February 2, 2016	14.46	220,967	—	—	(7,998)	212,969	212,969
BSPCE 2017	January 7, 2017	15.93	202,417	—	—	(15,251)	187,166	187,166
Total			2,505,732	—	(215,000)	(1,539,147)	751,585	751,585

AGA


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2020	Issued	Exercised	Forfeited	Outstanding at December 31, 2020	Number of shares exercisable
AGA 2018-1	March 6, 2018	n.a.	355,250	—	(316,083)	(14,667)	24,500	24,500
AGA 2018-2	July 27, 2018	n.a.	6,000	—	(6,000)	—	—	—
AGA 2019-1	March 29, 2019	n.a.	385,000	—	—	(13,000)	372,000	372,000
AGA 2020	March 11, 2020	n.a.	—	50,000	—	—	50,000	50,000
Total			746,250	50,000	(322,083)	(27,667)	446,500	446,500


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2019	Issued	Exercised	Forfeited	Outstanding at December 31, 2019	Number of shares exercisable
AGA 2018-1	March 6, 2018	n.a.	369,250	—	—	(14,000)	355,250	355,250
AGA 2018-2	July 27, 2018	n.a.	6,000	—	—	—	6,000	6,000
AGA 2019-1	March 29, 2019	n.a.	—	438,250	—	(53,250)	385,000	385,000
Total			375,250	438,250	—	(67,250)	746,250	746,250

Disclosure of detail of change in stock options

OSA


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2020	Issued	Exercised	Forfeited	Outstanding at December 31, 2020	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	54,000	—	—	(2,000)	52,000	52,000
OSA 2019-1	March 29, 2019	11.08	30,250	—	—	(1,500)	28,750	28,750
OSA LLY 2019	October 24, 2019	6.41	500,000	—	—	—	500,000	500,000
OSA 2020	March 11, 2020	6.25	—	407,972	—	(7,263)	400,709	400,709
Total			589,150	407,972	—	(10,763)	986,359	986,359


Type	Grant date	Exercise price (in euros)	Outstanding at January 1, 2019	Issued	Exercised	Forfeited	Outstanding at December 31, 2019	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	58,000	—	—	(4,000)	54,000	54,000
OSA 2019-1	March 29, 2019	11.08	—	37,500	—	(7,250)	30,250	30,250
OSA LLY 2019	October 24, 2019	6.41	—	500,000	—	—	500,000	500,000
Total			62,900	537,500	—	(11,250)	589,150	589,150

Provisions (Tables)

12 Months Ended

Dec. 31, 2020

Provisions [abstract]

Disclosure of changes in provisions


(in thousands of euros)	As of January 1, 2020	Increases	Decreases(1)	As of December 31, 2020
Lump-sum retirement benefits	331	83	—	414
Non-current provisions	331	83	—	414
Provisions for disputes	—	40	—	40
Provision for charges	164	—	(164)	—
Current provisions	164	40	(164)	40
Total provisions	495	123	(164)	454

(1)See Statement of consolidated cash flows and Note 16.4 for the nature of these decreases


(in thousands of euros)	As of January 1, 2019	Increases	Decreases(1)	As of December 31, 2019
Lump-sum retirement benefits	337	82	(88)	331
Non-current provisions	337	82	(88)	331
Provisions for disputes	55	—	(55)	—
Provision for charges	—	164	—	164
Current provisions	55	164	(55)	164
Total provisions	392	246	(143)	495

(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


(in thousands of euros)	As of December 31, 2020	As of December 31, 2019
Provision as of beginning of period	331	337
Cost of services	76	76
Interests / discounting costs	3	6
Expense for the period	79	82
Gains or losses related to experience	(61)	(116)
Gains or losses related to change in demographic assumptions	3	(21)
Gains or losses related to change in financial assumptions	62	48
Actuarial gains or losses recognized in other comprehensive income	4	(88)
Provision as of end of period	414	331

Disclosure of assumptions used to measure retirement benefits

The assumptions used to measure lump-sum retirement benefits are as follows:


Measurement date	December 31, 2020	December 31, 2019
Retirement assumptions	Management: Age 66 Non-management: Age 64	Management: Age 66 Non-management: Age 64
Social security contribution rate	44 %	43 %
Discount rate	0.33 %	0.85 %
Mortality tables	Regulatory table INSEE 2014 -2016	Regulatory table INSEE 2012 -2014
Salary increase rate (including inflation)	Executive: 3% Non-Executive: 2.5%	2.5 %
Staff turnover	Constant average rate of 5.86%	Constant average rate of 5.86%
Duration	17 years	17 years

Financial liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of financial liabilities [abstract]

Disclosure of financial liabilities

Details of financial liabilities


(in thousands of euros)	As of December 31, 2020	As of December 31, 2019
Lease liabilities – Short term	1,197	591
Repayable advances OSEO/BPIfrance loan – Short term	500	500
PGE*	141	—
EIB loan – Short term	3,033	—
Total current financial liabilities	4,872	1,091
Lease liabilities – Long term	4,991	5,814
Repayable OSEO/Bpifrance loan advances – Long term	2,975	2,875
PGE*	9,922	—
EIB loan – Long term	26,218	34,746
Total non-current financial liabilities	44,107	43,435
Total financial liabilities	48,979	44,526

(*)”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, 2020
(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	505	104	401	505
Trade receivables	62	—	62	62
Cash and cash equivalents	119,151	—	119,151	119,151
Total assets	119,717	104	119,613	119,717
Financial liabilities
Non-current financial liabilities	44,107	—	44,107	44,107
Current financial liabilities	4,872	—	4,872	4,872
Trade payables and other payables	7,106	—	7,106	7,106
Total liabilities	56,085	—	56,085	56,085


	As of December 31, 2019
(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	529	130	399	529
Trade receivables	11	—	11	11
Cash and cash equivalents	35,094	—	35,094	35,094
Total assets	35,634	130	35,504	35,634
Financial liabilities
Non-current financial liabilities	43,435	—	43,435	43,435(1)
Current financial liabilities	1,091	—	1,091	1,091
Trade payables and other payables	7,770	—	7,770	7,770
Total liabilities	52,296	—	52,296	52,296

The impact on income (loss) is as follows:


	For the year ended December 31,
(in thousands of euros)	2020	2019
Cost of gross debt	(1,721)	1,354
Income from cash equivalents	—	105
Total fair value through profit or loss	(1,721)	1,459

Disclosure of detailed information about borrowings

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, 2019	2,116	1,675	16,730	—	20,521
Principal received	—	—	14,000	—	14,000
Impact of discounting and accretion	32	36	(1,422)	—	(1,354)
Accumulated fixed interest expense accrual	16	—	1,545	—	1,561
Accumulated variable interest expense accrual	—	—	4,243	—	4,243
Repayment	—	(500)	(350)	—	(850)
As of December 31, 2019	2,165	1,210	34,746	—	38,121
Principal received	—	—	—	350	350
Impact of discounting and accretion	19	14	(1,736)	(65)	(1,769)
Accumulated fixed interest expense accrual	32	—	1,731	—	1,763
Accumulated variable interest expense accrual	—	—	(4,789)	—	(4,789)
Repayment	—	(250)	(700)	—	(950)
As of December 31, 2020	2,216	974	29,251	285	32,727


(in thousands of euros)	HSBC “PGE” (1)	Bpifrance “PGE” (1)	Total
As of January 1, 2019	—	—	—
Financial expenses on liabilities	—	—	—
Repayment of principal	—	—	—
Payment of interest	—	—	—
As of December 31, 2019	—	—	—
Principal received	5,000	5,000	10,000
Impact of discounting and accretion	14	34	47
Accumulated fixed interest expense accrual (2)	7	10	17
As of December 31, 2020	5,020	5,044	10,064

(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 December 31, 2018			—
Impact of IFRS 16 first application (1)			5,569
As of January 1, 2019			5,569
New lease contracts			1,991
Impact of discounting of the new lease contracts			(399)
Fixed interest expense			359
Repayment of lease			(1,067)
Early termination of lease contracts			(48)
As of December 31, 2019			6,405
New lease contracts			521
Impact of discounting of the new lease contracts			(94)
Fixed interest expense			333
Repayment of lease			(928)
Early termination of lease contracts			(49)
As of December 31, 2020			6,188

(1)See note 2.1 Impact of IFRS 16 first application for further details.

Disclosure of maturity analysis for 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, 2020
(in thousands of euros)	Less than 1 year	Between 1 and 3 years	Between 3 and 5 years	More than 5 years
Bpifrance	—	800	1,608	—
Interest-free Bpifrance loan	500	500	—	—
Curadigm interest-free Bpifrance advance	—	100	200	50
HSBC “PGE” (1)	30	1,932	2,552	638
Bpifrance “PGE” (1)	112	1,722	2,620	982
EIB fixed rate loan	3,033	31,562	2,392	—
Lease liabilities	1,197	2,310	2,302	1,396
Total	4,872	38,925	11,673	3,066

Trade payables and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Subclassifications of assets, liabilities and equities [abstract]

Summary of trade and other payables

Details of trade and other payables


	As of December 31,
(in thousands of euros)	2020	2019
Accrued expenses - clinical trials	1,532	1,620
Other trade payables	5,574	6,150
Total trade and other payables	7,106	7,770

Summary of other current liabilities

Other current liabilities


	As of December 31,
(in thousands of euros)	2020	2019
Tax liabilities	283	216
Payroll tax and other payroll liabilities	6,248	4,912
Other payables	491	193
Other current liabilities	7,022	5,322

Financial instruments included in the statement of financial position and impact on income (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about financial instruments [abstract]

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, 2020
(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	505	104	401	505
Trade receivables	62	—	62	62
Cash and cash equivalents	119,151	—	119,151	119,151
Total assets	119,717	104	119,613	119,717
Financial liabilities
Non-current financial liabilities	44,107	—	44,107	44,107
Current financial liabilities	4,872	—	4,872	4,872
Trade payables and other payables	7,106	—	7,106	7,106
Total liabilities	56,085	—	56,085	56,085


	As of December 31, 2019
(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	529	130	399	529
Trade receivables	11	—	11	11
Cash and cash equivalents	35,094	—	35,094	35,094
Total assets	35,634	130	35,504	35,634
Financial liabilities
Non-current financial liabilities	43,435	—	43,435	43,435(1)
Current financial liabilities	1,091	—	1,091	1,091
Trade payables and other payables	7,770	—	7,770	7,770
Total liabilities	52,296	—	52,296	52,296

The impact on income (loss) is as follows:


	For the year ended December 31,
(in thousands of euros)	2020	2019
Cost of gross debt	(1,721)	1,354
Income from cash equivalents	—	105
Total fair value through profit or loss	(1,721)	1,459

Details of financial liabilities


(in thousands of euros)	As of December 31, 2020	As of December 31, 2019
Lease liabilities – Short term	1,197	591
Repayable advances OSEO/BPIfrance loan – Short term	500	500
PGE*	141	—
EIB loan – Short term	3,033	—
Total current financial liabilities	4,872	1,091
Lease liabilities – Long term	4,991	5,814
Repayable OSEO/Bpifrance loan advances – Long term	2,975	2,875
PGE*	9,922	—
EIB loan – Long term	26,218	34,746
Total non-current financial liabilities	44,107	43,435
Total financial liabilities	48,979	44,526

(*)”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, 2020
(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	505	104	401	505
Trade receivables	62	—	62	62
Cash and cash equivalents	119,151	—	119,151	119,151
Total assets	119,717	104	119,613	119,717
Financial liabilities
Non-current financial liabilities	44,107	—	44,107	44,107
Current financial liabilities	4,872	—	4,872	4,872
Trade payables and other payables	7,106	—	7,106	7,106
Total liabilities	56,085	—	56,085	56,085


	As of December 31, 2019
(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	529	130	399	529
Trade receivables	11	—	11	11
Cash and cash equivalents	35,094	—	35,094	35,094
Total assets	35,634	130	35,504	35,634
Financial liabilities
Non-current financial liabilities	43,435	—	43,435	43,435(1)
Current financial liabilities	1,091	—	1,091	1,091
Trade payables and other payables	7,770	—	7,770	7,770
Total liabilities	52,296	—	52,296	52,296

The impact on income (loss) is as follows:


	For the year ended December 31,
(in thousands of euros)	2020	2019
Cost of gross debt	(1,721)	1,354
Income from cash equivalents	—	105
Total fair value through profit or loss	(1,721)	1,459

Disclosure of effect of changes in exchange rates


	For the year ended December 31, 2020
Impact	Net income		Equity
(in thousands of euros)	Increase	Decrease	Increase	Decrease
USD / Euro exchange rate	5	(5)	124	(124)
Total	5	(5)	124	(124)


	For the year ended December 31, 2019
Impact	Net income		Equity
(in thousands of euros)	Increase	Decrease	Increase	Decrease
USD / Euro exchange rate	41	(41)	141	(141)
Total	41	(41)	141	(141)

Revenues and other income (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of 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, 2020, 2019, and 2018:


	For the year ended December 31,
(in thousands of euros)	2020	2019	2018
Services	50	40	109
Other sales	—	28	7
Total revenues	50	68	116
Research tax credit	1,927	2,437	3,251
Subsidies	526	20	90
Other	10	17	22
Total other income	2,462	2,473	3,363
Total revenues and other income	2,512	2,541	3,479

Operating Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Analysis of income and expense [abstract]

Summary of Research and Development Expense

Research and development expenses


	For the year ended December 31,
(in thousands of euros)	2020	2019	2018
Purchases, sub-contracting and other expenses	(12,734)	(16,804)	(11,358)
Payroll costs (including share-based payments)	(10,306)	(11,980)	(9,002)
Depreciation, amortization and provision expenses(1)	(1,290)	(1,627)	(534)
Total research and development expenses	(24,330)	(30,411)	(20,893)

(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)	2020	2019	2018
Purchases, fees and other expenses	(6,482)	(9,435)	(5,918)
Payroll costs (including share-based payments)	(7,789)	(9,205)	(6,701)
Depreciation, amortization and provision expenses (1)	(340)	(270)	(35)
Total SG&A expenses	(14,611)	(18,909)	(12,653)

(1)see note 16.4 Depreciation, amortization and provision expenses

Summary of Payroll Costs

Payroll costs


	For the year ended December 31,
(in thousands of euros)	2020	2019	2018
Wages and salaries	(11,141)	(11,876)	(9,501)
Payroll taxes	(3,953)	(4,913)	(4,279)
Share-based payments	(2,924)	(4,320)	(1,867)
Retirement benefit obligations	(76)	(76)	(55)
Total payroll costs	(18,094)	(21,185)	(15,703)
Average headcount	97	112	94
End-of-period headcount	90	110	102

Disclosure of depreciation, amortization and provision expenses

Depreciation, amortization and provision expenses by function are detailed as follows:


	For the year ended December 31, 2020
(in thousands of euros)	R&D	SG&A	Total
Amortization expense of intangible assets	(152)	(23)	(176)
Amortization expense of tangible assets	(1,250)	(329)	(1,579)
Utilization of provision for disputes	145	—	145
Provision for charges	—	(40)	(40)
Reversal of provision for disputes	—	19	19
Total depreciation, amortization and provision expenses	(1,257)	(373)	(1,630)


	For the year ended December 31, 2019
(in thousands of euros)	R&D	SG&A	Total
Amortization expense of intangible assets	(289)	(3)	(292)
Depreciation expense of property, plant and equipment	(1,208)	(270)	(1,478)
Utilization of provision for charges	—	55	55
Provision for charges	(112)	(52)	(164)
Total depreciation, amortization and provision expenses	(1,609)	(270)	(1,879)


	For the year ended December 31, 2018
(in thousands of euros)	R&D	SG&A	Total
Amortization expense of intangible assets	(90)	—	(90)
Depreciation expense of property, plant and equipment	(444)	(85)	(529)
Utilization of provision for charges	—	50	50
Total depreciation, amortization and provision expenses	(534)	(35)	(569)

Share-based payments (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payments Arrangements [Abstract]

Disclosure of number and weighted average remaining contractual life of other equity instruments outstanding

The number of options and warrants outstanding on December 31, 2020 and their main characteristics, are detailed below:

Founders’ warrants


	Pre-2020 founders’ warrant plans
	BSPCE 2012-2	BSPCE 08-2013	BSPCE 09-2014	BSPCE 2015-1	BSPCE 2015-03
Type of underlying asset	New shares	New shares	New shares	New shares	New shares
Number of founder’s warrants granted	100,000	50,000	97,200	71,650	53,050
Date of shareholders' resolution approving the plan	05/04/2012	06/28/2013	06/18/2014	06/18/2014	06/18/2014
Grant date	12/18/2012	08/28/2013	09/16/2014	02/10/2015	06/10/2015
Contractual expiration date	12/18/2022	08/28/2023	09/16/2024	02/10/2025	06/10/2025
Grant price	—	—	—	—	—
Exercise price	€6.63	€5.92	€18.68	€18.57	€20.28
Number of founders’ warrants as of Number of founders’ warrants as of December 31, 2020	100,000	50,000	86,150	68,450	30,700
Number of founders’ warrants exercised	—	—	—	—	—
Including founders’ warrants exercised during the period	—	—	—	—	—
Number of founders’ warrants lapsed or cancelled	—	—	11,050	3,200	22,350
Including founders’ warrants lapsed or cancelled during the period	—	—	5,950	2,500	7,700


	Pre-2020 founders’ warrant plans
	BSPCE 2016 Ordinary	BSPCE 2016 Performance	BSPCE 2017 Ordinary	BSPCE 2017
Type of underlying asset	New shares	New shares	New shares	New shares
Number of founder’s warrants granted	126,400	129,250	117,650	80,000
Date of shareholders' resolution approving the plan	06/25/2015	06/25/2015	06/23/2016	06/23/2016
Grant date	02/02/2016	02/02/2016	01/07/2017	01/07/2017
Contractual expiration date	02/02/2026	02/02/2026	01/07/2027	01/07/2027
Grant price	—	—	—	—
Exercise price	€14.46	€14.46	€15.93	€15.93
Number of founders’ warrants as of December 31, 2020	100,917	101,700	100,850	80,000
Number of founders’ warrants exercised	333	—	—	—
Including founders’ warrants exercised during the period	—	—	—	—
Number of founders’ warrants lapsed or cancelled	25,150	27,550	16,800	—
Including founders’ warrants lapsed or cancelled during the period	9,050	1,302	6,316	—

Warrants


	Pre-2020 warrant plans
	BSA 04-2012	BSA 2013	BSA 2014	BSA 2015-1	BSA 2015-2 (a)	BSA 2015-2 (b)	BSA 2016 ordinary
Type of warrants	New shares	New shares	New shares	New shares	New shares	New shares	New shares
Number of warrants granted	52,500	10,000	14,000	26,000	64,000	6,000	18,103
Date of shareholders' resolution approving the plan	05/04/2012	05/04/2012	06/18/2014	06/18/2014	06/18/2014	06/25/2015	06/25/2015
Grant date	05/04/2012	04/10/2013	09/16/2014	02/10/2015	06/25/2015	06/25/2015	02/02/2016
Contractual expiration date	05/04/2022	04/10/2023	09/16/2024	02/10/2025	06/25/2025	06/25/2020	02/02/2021
Grant price	€0.60	€2.50	€4.87	€4.87	€5.00	€2.80	€1.67
Exercise price	€6.00	€6.37	€17.67	€17.67	€19.54	€19.54	€13.74
Number of warrants as of December 31, 2020	30,000	6,000	10,000	21,000	64,000	—	18,103
Number of warrants exercised	22,500	—	—	—	—	—	—
Including warrants exercised during the period	—	—	—	—	—	—	—
Number of warrants lapsed or cancelled	—	4,000	4,000	5,000	—	6,000	—
Including warrants lapsed or cancelled during the period	—	—	—	—	—	6,000	—


	Pre-2020 warrant plans
	BSA 2016 performance	BSA 2016-2	BSA 2017	BSA 2018-1	BSA 2018-2	BSA 2019-1
Type of warrants	New shares	New shares	New shares	New shares	New shares	New shares
Number of warrants granted	18,105	8,000	18,000	28,000	5,820	18,000
Date of shareholders' resolution approving the plan	06/25/2015	06/23/2016	06/23/2016	06/14/2017	05/23/2018	05/23/2018
Grant date	02/02/2016	11/03/2016	01/07/2017	03/06/2018	07/27/2018	03/29/2019
Contractual expiration date	02/02/2021	11/03/2021	01/07/2022	03/06/2023	07/27/2028	03/29/2029
Grant price	€1.67	€2.03	€2.26	€1.62	€2.36	€1.15
Number of warrants as of Exercise price	€13.74	€15.01	€15.76	€13.55	€16.102	€11.66
Number of warrants as of December 31, 2020	18,105	8,000	18,000	28,000	5,820	18,000
Number of warrants exercised	—	—	—	—	—	—
Including warrants exercised during the period	—	—	—	—	—	—
Number of warrants lapsed or cancelled	—	—	—	—	—	—
Including warrants lapsed or cancelled during the period	—	—	—	—	—	—


						2020 warrants
						BSA 2020
Type of warrants						New shares
Number of warrants granted						18,000
Date of shareholders' resolution approving the plan						04/11/2019
Grant date						03/17/2020
Contractual expiration date						03/17/2030
Grant price						€0.29
Number of warrants as of Exercise price						€6.59
Number of warrants as of December 31, 2020						18,000
Number of warrants exercised						—
Including warrants exercised during the period						—
Number of warrants lapsed or cancelled						—
Including warrants lapsed or cancelled during the period						—

Stock options


	Pre-2020 stock option plans
	OSA 2016-1 Performance	OSA 2016-2	OSA 2017 Ordinary	OSA 2018	OSA 2019-1	OSA LLY 2019
Type of underlying asset	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
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
Grant date	02/02/2016	11/03/2016	01/07/2017	03/06/2018	03/29/2019	10/24/2019
Contractual expiration date	02/02/2026	11/03/2026	01/07/2027	03/06/2028	03/29/2029	10/24/2029
Grant price	—	—	—	—	—	—
Exercise price	€13.05	€14.26	€14.97	€12.87	€11.08	€6.41
Number of options as of December 31, 2020	400	4,000	500	52,000	28,750	500,000
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	8,750	—
Including options lapsed or cancelled during the period	—	—	—	2,000	1,500	—


						2020 stock option plans
						OSA 2020
Type of underlying asset						New shares
Number of options granted						407,972
Date of shareholders' resolution approving the plan						04/11/2019
Grant date						03/11/2020
Contractual expiration date						03/11/2030
Grant price						—
Exercise price						€6.25
Number of options as of December 31, 2020						400,709
Number of options exercised						—
Number of options as of Including options exercised during the period						—
Number of options lapsed or cancelled						7,263
Including options lapsed or cancelled during the period						7,263

Free shares


	Pre-2020 free shares plan not yet vested			2020 free shares plan
	AGA 2018-1	AGA 2018-2	AGA 2019-1	AGA 2020
Type of underlying assets	New shares	New shares	New shares	New shares
Number of free shares granted	396,250	6,000	438,250	50,000
Date of shareholders' resolution approving the plan	06/14/2017	05/23/2018	05/23/2018	04/11/2019
Grant date	03/06/2018	07/27/2018	03/29/2019	03/11/2020
Grant price	—	—	—	—
Exercise price	—	—	—	—
Number of free shares as of December 31, 2020	24,500	—	372,000	50,000
Number of free shares exercised	316,083	6,000	—	—
Including free shares exercised during the period	316,083	6,000	—	—
Number of free shares lapsed or cancelled	55,667	—	66,250	—
Including free shares lapsed or cancelled during the period	14,667	—	13,000	—


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2020	718,767	263,028	986,359	446,500	2,414,654


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2019	751,585	251,028	589,150	746,250	2,338,013


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2018	2,505,732	233,028	62,900	375,250	3,176,910

Disclosure of number and weighted average remaining contractual life of outstanding share options

The number of options and warrants outstanding on December 31, 2020 and their main characteristics, are detailed below:

Founders’ warrants


	Pre-2020 founders’ warrant plans
	BSPCE 2012-2	BSPCE 08-2013	BSPCE 09-2014	BSPCE 2015-1	BSPCE 2015-03
Type of underlying asset	New shares	New shares	New shares	New shares	New shares
Number of founder’s warrants granted	100,000	50,000	97,200	71,650	53,050
Date of shareholders' resolution approving the plan	05/04/2012	06/28/2013	06/18/2014	06/18/2014	06/18/2014
Grant date	12/18/2012	08/28/2013	09/16/2014	02/10/2015	06/10/2015
Contractual expiration date	12/18/2022	08/28/2023	09/16/2024	02/10/2025	06/10/2025
Grant price	—	—	—	—	—
Exercise price	€6.63	€5.92	€18.68	€18.57	€20.28
Number of founders’ warrants as of Number of founders’ warrants as of December 31, 2020	100,000	50,000	86,150	68,450	30,700
Number of founders’ warrants exercised	—	—	—	—	—
Including founders’ warrants exercised during the period	—	—	—	—	—
Number of founders’ warrants lapsed or cancelled	—	—	11,050	3,200	22,350
Including founders’ warrants lapsed or cancelled during the period	—	—	5,950	2,500	7,700


	Pre-2020 founders’ warrant plans
	BSPCE 2016 Ordinary	BSPCE 2016 Performance	BSPCE 2017 Ordinary	BSPCE 2017
Type of underlying asset	New shares	New shares	New shares	New shares
Number of founder’s warrants granted	126,400	129,250	117,650	80,000
Date of shareholders' resolution approving the plan	06/25/2015	06/25/2015	06/23/2016	06/23/2016
Grant date	02/02/2016	02/02/2016	01/07/2017	01/07/2017
Contractual expiration date	02/02/2026	02/02/2026	01/07/2027	01/07/2027
Grant price	—	—	—	—
Exercise price	€14.46	€14.46	€15.93	€15.93
Number of founders’ warrants as of December 31, 2020	100,917	101,700	100,850	80,000
Number of founders’ warrants exercised	333	—	—	—
Including founders’ warrants exercised during the period	—	—	—	—
Number of founders’ warrants lapsed or cancelled	25,150	27,550	16,800	—
Including founders’ warrants lapsed or cancelled during the period	9,050	1,302	6,316	—

Warrants


	Pre-2020 warrant plans
	BSA 04-2012	BSA 2013	BSA 2014	BSA 2015-1	BSA 2015-2 (a)	BSA 2015-2 (b)	BSA 2016 ordinary
Type of warrants	New shares	New shares	New shares	New shares	New shares	New shares	New shares
Number of warrants granted	52,500	10,000	14,000	26,000	64,000	6,000	18,103
Date of shareholders' resolution approving the plan	05/04/2012	05/04/2012	06/18/2014	06/18/2014	06/18/2014	06/25/2015	06/25/2015
Grant date	05/04/2012	04/10/2013	09/16/2014	02/10/2015	06/25/2015	06/25/2015	02/02/2016
Contractual expiration date	05/04/2022	04/10/2023	09/16/2024	02/10/2025	06/25/2025	06/25/2020	02/02/2021
Grant price	€0.60	€2.50	€4.87	€4.87	€5.00	€2.80	€1.67
Exercise price	€6.00	€6.37	€17.67	€17.67	€19.54	€19.54	€13.74
Number of warrants as of December 31, 2020	30,000	6,000	10,000	21,000	64,000	—	18,103
Number of warrants exercised	22,500	—	—	—	—	—	—
Including warrants exercised during the period	—	—	—	—	—	—	—
Number of warrants lapsed or cancelled	—	4,000	4,000	5,000	—	6,000	—
Including warrants lapsed or cancelled during the period	—	—	—	—	—	6,000	—


	Pre-2020 warrant plans
	BSA 2016 performance	BSA 2016-2	BSA 2017	BSA 2018-1	BSA 2018-2	BSA 2019-1
Type of warrants	New shares	New shares	New shares	New shares	New shares	New shares
Number of warrants granted	18,105	8,000	18,000	28,000	5,820	18,000
Date of shareholders' resolution approving the plan	06/25/2015	06/23/2016	06/23/2016	06/14/2017	05/23/2018	05/23/2018
Grant date	02/02/2016	11/03/2016	01/07/2017	03/06/2018	07/27/2018	03/29/2019
Contractual expiration date	02/02/2021	11/03/2021	01/07/2022	03/06/2023	07/27/2028	03/29/2029
Grant price	€1.67	€2.03	€2.26	€1.62	€2.36	€1.15
Number of warrants as of Exercise price	€13.74	€15.01	€15.76	€13.55	€16.102	€11.66
Number of warrants as of December 31, 2020	18,105	8,000	18,000	28,000	5,820	18,000
Number of warrants exercised	—	—	—	—	—	—
Including warrants exercised during the period	—	—	—	—	—	—
Number of warrants lapsed or cancelled	—	—	—	—	—	—
Including warrants lapsed or cancelled during the period	—	—	—	—	—	—


						2020 warrants
						BSA 2020
Type of warrants						New shares
Number of warrants granted						18,000
Date of shareholders' resolution approving the plan						04/11/2019
Grant date						03/17/2020
Contractual expiration date						03/17/2030
Grant price						€0.29
Number of warrants as of Exercise price						€6.59
Number of warrants as of December 31, 2020						18,000
Number of warrants exercised						—
Including warrants exercised during the period						—
Number of warrants lapsed or cancelled						—
Including warrants lapsed or cancelled during the period						—

Stock options


	Pre-2020 stock option plans
	OSA 2016-1 Performance	OSA 2016-2	OSA 2017 Ordinary	OSA 2018	OSA 2019-1	OSA LLY 2019
Type of underlying asset	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
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
Grant date	02/02/2016	11/03/2016	01/07/2017	03/06/2018	03/29/2019	10/24/2019
Contractual expiration date	02/02/2026	11/03/2026	01/07/2027	03/06/2028	03/29/2029	10/24/2029
Grant price	—	—	—	—	—	—
Exercise price	€13.05	€14.26	€14.97	€12.87	€11.08	€6.41
Number of options as of December 31, 2020	400	4,000	500	52,000	28,750	500,000
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	8,750	—
Including options lapsed or cancelled during the period	—	—	—	2,000	1,500	—


						2020 stock option plans
						OSA 2020
Type of underlying asset						New shares
Number of options granted						407,972
Date of shareholders' resolution approving the plan						04/11/2019
Grant date						03/11/2020
Contractual expiration date						03/11/2030
Grant price						—
Exercise price						€6.25
Number of options as of December 31, 2020						400,709
Number of options exercised						—
Number of options as of Including options exercised during the period						—
Number of options lapsed or cancelled						7,263
Including options lapsed or cancelled during the period						7,263

Free shares


	Pre-2020 free shares plan not yet vested			2020 free shares plan
	AGA 2018-1	AGA 2018-2	AGA 2019-1	AGA 2020
Type of underlying assets	New shares	New shares	New shares	New shares
Number of free shares granted	396,250	6,000	438,250	50,000
Date of shareholders' resolution approving the plan	06/14/2017	05/23/2018	05/23/2018	04/11/2019
Grant date	03/06/2018	07/27/2018	03/29/2019	03/11/2020
Grant price	—	—	—	—
Exercise price	—	—	—	—
Number of free shares as of December 31, 2020	24,500	—	372,000	50,000
Number of free shares exercised	316,083	6,000	—	—
Including free shares exercised during the period	316,083	6,000	—	—
Number of free shares lapsed or cancelled	55,667	—	66,250	—
Including free shares lapsed or cancelled during the period	14,667	—	13,000	—


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2020	718,767	263,028	986,359	446,500	2,414,654


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2019	751,585	251,028	589,150	746,250	2,338,013


	BSPCE	BSA	OSA	AGA	Total
Total number of shares underlying grants outstanding as of December 31, 2018	2,505,732	233,028	62,900	375,250	3,176,910

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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
BSPCE 2012-1	5.26	5.26	41	%	3.49	0.20	%	0.00	%	307	—	—	—
BSPCE 2012-2	6.65	6.63	44.3% - 47.6%		5 - 7.30	0.84% - 1.22%		0.00	%	288	—	—	—
BSPCE 04-2013	6.30	6.30	56	%	5	0.90	%	0.00	%	167	—	—	—
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	%	932	—	—	2
BSPCE 2015-1	18.57	18.57	58% - 62% - 61%		5.5/6/6.5	0.39	%	0.00	%	50	—	—	1
BSPCE 2015-2	18.57	18.57	58% - 62% - 61%		5.5/6/6.5	0.39	%	0.00	%	650	—	—	9
BSPCE 2015-3	20.28	20.28	61% - 62% - 61%		5.5/6/6.5	0.56	%	0.00	%	483	—	—	18
BSPCE 2016 Ordinary	14.46	14.46	59% - 62% - 60%		5.5/6/6.5	0.32	%	0.00	%	1,080	—	10	128
BSPCE 2016 Performance	14.46	14.46	59	%	5	0.19	%	0.00	%	1,212	99	79	(405)
BSPCE 2017 Ordinary	15.93	15.93	58% - 61% - 59%		5.5/6/6.5	0.23	%	0.00	%	1,000	8	86	255
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	—	—	(47)
Total BSPCE	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	107	175	(39)


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
BSA 2012	6.00	6.00	49	%	10	0.96	%	0.00	%	183	—	—	—
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	17.67	19.54	58%-58%-57%-58%		5/5.1/5.3/5.4	0.39	%	0.00	%	16	—	—	—
BSA 2015-3	19.54	19.54	58% - 60%		4.6 – 9.6	0.25% - 0.91%		0.00	%	284	—	—	—
BSA 2016o-1	13.74	13.74	57	%	2.4	0.00	%	0.00	%	37	—	—	—
BSA 2016p-1	13.74	13.74	57	%	2.4	0.00	%	0.00	%	143	—	(41)	(42)
BSA 2016-2	15.01	15.01	57	%	2.4	0.00	%	0.00	%	—	—	—	—
BSA 2017o-1	15.76	15.76	33	%	2.4	0.00	%	0.00	%	—	—	—	—
BSA 2018-1	13.55	13.55	38	%	4.8	0.7% - 0.1%		0.00	%	2	—	—	3
BSA 2018-2	16.102	16.102	38	%	4.8	0.7% - 0.1%		0.00	%	1	0	—	—
BSA 2019-1	11.66	11.66	37	%	9.8/9.9	0.16% - 0.50%		0.00	%	24	—	24	—
BSA 2020	—	6.59	38	%	10	-0.13%/ -0.07%		0.00	%	19	19	—	—
Total BSA	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	19	(16)	(39)


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
OSA 2016 Ordinary	13.05	13.05	59% - 62% - 60%		5.5 / 6 /6.5	0.32	%	0.00	%	117	—	—	(64)
OSA 2016 Performance	13.05	13.05	59	%	5	0.19	%	0.00	%	69	—	—	(55)
OSA 2016-2	14.26	14.26	58% - 62% - 59%		5.5 / 6 /6.5	0.04	%	0.00	%	27	—	3	7
OSA 2017 Ordinary	15.93	14.97	58% - 61% - 59%		5.5 / 6 /6.5	0.23	%	0.00	%	31	—	1	(14)
OSA 2017 Performance	15.93	14.97	59	%	5	0.11	%	0.00	%	35	—	—	—
OSA 2018	12.87	12.87	35	%	5.5 / 6 /6.5	0.00	%	0.00	%	252	7	66	164
OSA 2019-1	11.08	11.08	38.1% / 37.4%		6 /6.5	0.103% / 0.149%		0.00	%	140	49	38	n.a.
OSA 2019-2	6.41	6.41	37	%	10	0.40	%	0.00	%	252	—	436	n.a.
OSA 2020	6.25	6.25	38	%	10	0.31	%	0.00	%	939	453	—	—
Total OSA	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	509	543	38


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
AGA 2018-1	12.87	0.00	n.a.	n.a.	0.00	%	0.00	%	4,951	268	2,052	1,891
AGA 2018-2	12.87	0.00	n.a.	n.a.	0.00	%	0.00	%	75	21	37	16
AGA 2019-1	10.90	0.00	n.a.	n.a.	0.19% / 0.141%		0.00	%	4,776	1,884	1,529	n.a.
AGA 2020	5.90	0.00	n.a.	n.a.	-0.74%/-0.69%		0.00	%	287	116	—	—
Total AGA	n.a.	n.a.	n.a.	n.a.	n.a.		n.a.		n.a.	2,289	3,618	1,907


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2020	107	19	509	2,289	2,924


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2019	175	(16)	543	3,618	4,320


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2018	(39)	(39)	38	1,907	1,867

Disclosure of indirect measurement of fair value of goods or services received, share options 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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
BSPCE 2012-1	5.26	5.26	41	%	3.49	0.20	%	0.00	%	307	—	—	—
BSPCE 2012-2	6.65	6.63	44.3% - 47.6%		5 - 7.30	0.84% - 1.22%		0.00	%	288	—	—	—
BSPCE 04-2013	6.30	6.30	56	%	5	0.90	%	0.00	%	167	—	—	—
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	%	932	—	—	2
BSPCE 2015-1	18.57	18.57	58% - 62% - 61%		5.5/6/6.5	0.39	%	0.00	%	50	—	—	1
BSPCE 2015-2	18.57	18.57	58% - 62% - 61%		5.5/6/6.5	0.39	%	0.00	%	650	—	—	9
BSPCE 2015-3	20.28	20.28	61% - 62% - 61%		5.5/6/6.5	0.56	%	0.00	%	483	—	—	18
BSPCE 2016 Ordinary	14.46	14.46	59% - 62% - 60%		5.5/6/6.5	0.32	%	0.00	%	1,080	—	10	128
BSPCE 2016 Performance	14.46	14.46	59	%	5	0.19	%	0.00	%	1,212	99	79	(405)
BSPCE 2017 Ordinary	15.93	15.93	58% - 61% - 59%		5.5/6/6.5	0.23	%	0.00	%	1,000	8	86	255
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	—	—	(47)
Total BSPCE	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	107	175	(39)


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
BSA 2012	6.00	6.00	49	%	10	0.96	%	0.00	%	183	—	—	—
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	17.67	19.54	58%-58%-57%-58%		5/5.1/5.3/5.4	0.39	%	0.00	%	16	—	—	—
BSA 2015-3	19.54	19.54	58% - 60%		4.6 – 9.6	0.25% - 0.91%		0.00	%	284	—	—	—
BSA 2016o-1	13.74	13.74	57	%	2.4	0.00	%	0.00	%	37	—	—	—
BSA 2016p-1	13.74	13.74	57	%	2.4	0.00	%	0.00	%	143	—	(41)	(42)
BSA 2016-2	15.01	15.01	57	%	2.4	0.00	%	0.00	%	—	—	—	—
BSA 2017o-1	15.76	15.76	33	%	2.4	0.00	%	0.00	%	—	—	—	—
BSA 2018-1	13.55	13.55	38	%	4.8	0.7% - 0.1%		0.00	%	2	—	—	3
BSA 2018-2	16.102	16.102	38	%	4.8	0.7% - 0.1%		0.00	%	1	0	—	—
BSA 2019-1	11.66	11.66	37	%	9.8/9.9	0.16% - 0.50%		0.00	%	24	—	24	—
BSA 2020	—	6.59	38	%	10	-0.13%/ -0.07%		0.00	%	19	19	—	—
Total BSA	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	19	(16)	(39)


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
OSA 2016 Ordinary	13.05	13.05	59% - 62% - 60%		5.5 / 6 /6.5	0.32	%	0.00	%	117	—	—	(64)
OSA 2016 Performance	13.05	13.05	59	%	5	0.19	%	0.00	%	69	—	—	(55)
OSA 2016-2	14.26	14.26	58% - 62% - 59%		5.5 / 6 /6.5	0.04	%	0.00	%	27	—	3	7
OSA 2017 Ordinary	15.93	14.97	58% - 61% - 59%		5.5 / 6 /6.5	0.23	%	0.00	%	31	—	1	(14)
OSA 2017 Performance	15.93	14.97	59	%	5	0.11	%	0.00	%	35	—	—	—
OSA 2018	12.87	12.87	35	%	5.5 / 6 /6.5	0.00	%	0.00	%	252	7	66	164
OSA 2019-1	11.08	11.08	38.1% / 37.4%		6 /6.5	0.103% / 0.149%		0.00	%	140	49	38	n.a.
OSA 2019-2	6.41	6.41	37	%	10	0.40	%	0.00	%	252	—	436	n.a.
OSA 2020	6.25	6.25	38	%	10	0.31	%	0.00	%	939	453	—	—
Total OSA	n.a.	n.a.	n.a.		n.a.	n.a.		n.a.		n.a.	509	543	38


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 2020 (in thousands of euros)	Expense for the year ended 2019 (in thousands of euros)	Expense for the year ended 2018 (in thousands of euros)
AGA 2018-1	12.87	0.00	n.a.	n.a.	0.00	%	0.00	%	4,951	268	2,052	1,891
AGA 2018-2	12.87	0.00	n.a.	n.a.	0.00	%	0.00	%	75	21	37	16
AGA 2019-1	10.90	0.00	n.a.	n.a.	0.19% / 0.141%		0.00	%	4,776	1,884	1,529	n.a.
AGA 2020	5.90	0.00	n.a.	n.a.	-0.74%/-0.69%		0.00	%	287	116	—	—
Total AGA	n.a.	n.a.	n.a.	n.a.	n.a.		n.a.		n.a.	2,289	3,618	1,907


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2020	107	19	509	2,289	2,924


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2019	175	(16)	543	3,618	4,320


(in thousands of euros)	BSPCE	BSA	OSA	AGA	Total
Expense for the year ended December 31, 2018	(39)	(39)	38	1,907	1,867

Net financial income (loss) (Tables)

12 Months Ended

Dec. 31, 2020

Net Financial Income (Loss) [Abstract]

Summary of Net Financial Income (Loss)


	For the years ended December 31,
(in thousands of euros)	2020	2019	2018
Income from cash and cash equivalents	—	105	34
Foreign exchange gains	104	599	1,051
Other financial income	97	133	87
Total financial income	201	837	1,172
Interest cost (1)	4,676	(4,434)	(847)
IFRS 16 related interests	(333)	(359)	—
Foreign exchange losses	(1,697)	(176)	(602)
Total financial expenses	2,646	(4,970)	(1,449)
Net financial income (loss)	2,847	(4,133)	(277)

Income tax (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Income Taxes [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)	2020		2019		2018
Net loss	(33,590)		(50,915)		(30,345)
Effective tax expense	9		3		—
Recurring loss before tax	(33,581)		(50,912)		(30,345)
Theoretical tax rate (statutory rate in France)	28.00	%	31.00	%	33.33	%
Theoretical tax (benefit) expense	(9,403)		(15,782)		(10,115)
Share-based payment	819		1,339		622
Other temporary differences	(6)		(1)		(17)
Other non-taxable items	(540)		(736)		(1,084)
Unrecognized tax losses	9,138		15,177		10,593
Effective tax expense	(9)		(3)		—
Effective tax rate	0.00	%	0.00	%	0.00	%

Loss per share (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Earnings Per Share [Abstract]

Schedule of basic and diluted loss per share


	For the year ended December 31,
	2020	2019	2018
Net loss for the period (in thousands of euros)	(33,590)	(50,915)	(30,345)
Weighted average number of shares	24,385,827	21,631,514	19,633,373
Basic loss per share (in euros)	(1.38)	(2.35)	(1.55)
Diluted loss per share (in euros)	(1.38)	(2.35)	(1.55)

Related parties (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Related Party [Abstract]

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)	2020	2019	2018
Salaries, wages and benefits	1,073	1,306	1,437
Share-based payments	1,723	2,066	1,068
Supervisory Board’s fees	70	70	70
Total compensation to related parties	2,866	3,442	2,575

Information related to the Company (Details)
€ in Thousands, $ in Millions

1 Months Ended

12 Months Ended

Dec. 15, 2020

EUR (€)

Dec. 15, 2020

USD ($)

Jul. 28, 2020

EUR (€)

Jul. 27, 2020

EUR (€)

Jul. 10, 2020

EUR (€)

quarterly_instalment

Jun. 22, 2020

EUR (€)

Jul. 31, 2020

EUR (€)

Jun. 30, 2020

EUR (€)

Feb. 29, 2020

EUR (€)

Dec. 31, 2020

EUR (€)

quarterly_instalment

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

^[1]

Jun. 05, 2020

EUR (€)

Disclosure Of Information Related To The Company [Line Items]

Capital increases

$ 113.3

€ 18,600

€ 18,800

€ 113,650

€ 29,517

€ 0

2018 Tax Year

Disclosure Of Information Related To The Company [Line Items]

Percentage of research tax credit received

100.00%

Research tax credit received

€ 3,300

2019 Tax Year

Disclosure Of Information Related To The Company [Line Items]

Research tax credit received

€ 2,400

Sanofi, Gene Therapy Portfolio

Disclosure Of Information Related To The Company [Line Items]

Non-Dilutive Financing Agreement, BPI France and HSBC France

1 year

Upfront payment received

€ 100

Disclosure Of Information Related To The Company [Line Items]

Number of quarterly payments deferred | quarterly_instalment

Percentage of State-Guaranteed loan

€ 10,000

0.90

PGE Loan, HSBC France

Disclosure Of Information Related To The Company [Line Items]

€ 5,000

12 months

5 years

Additional annual guarantee fee for first two years

0.25%

0.50%

Additional annual guarantee fee for third, fourth and fifth years

1.00%

Disclosure Of Information Related To The Company [Line Items]

Percentage of State-Guaranteed loan

€ 5,000

€ 350

0.90

12 months

6 years

Borrowing, subsequent period bearing interest

1.61%

0.25%

5 years

Number of quarterly instalments | quarterly_instalment

2.25%

1.36%

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

General Information, Statement of Compliance and Basis of Presentation - Additional Information (Details) - EUR (€)
€ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Jan. 01, 2019

Dec. 31, 2018

^[1]

Dec. 31, 2017

^[1]

General Information, Statement of Compliance and Basis of Presentation [Line Items]

Cash and cash equivalents

€ 119,151

€ 35,094

€ 36,203

€ 47,212

Bottom of range

General Information, Statement of Compliance and Basis of Presentation [Line Items]

Weighted average lessee's incremental borrowing rate

4.87%

Top of range

General Information, Statement of Compliance and Basis of Presentation [Line Items]

Weighted average lessee's incremental borrowing rate

5.33%

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

General Information, Statement of Compliance and Basis of Presentation - Reconciliation between company's operating leases commitments and lease liability (Details) - EUR (€) € in Thousands	Jan. 01, 2019	Dec. 31, 2018
Disclosure of initial application of standards or interpretations [abstract]
Operating lease commitments		€ 6,407
IFRS 16 impacts
Disclosure of initial application of standards or interpretations [abstract]
Rent reevaluated with the 2019 index	€ 294
2018 contracts not previously included in commitments	216
Discounting impact of lines above	(1,234)
Prepaid expenses related to IFRS 16 contracts	(114)
Lease liabilities	5,569
Current lease liabilities	741
Non-current lease liabilities	€ 4,828

General Information, Statement of Compliance and Basis of Presentation - Impact of IFRS 16 first application on the statement of financial position (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Total non-current assets	€ 8,782	€ 10,078	€ 9,044
Property, plant and equipment	8,256	9,386	8,384	€ 8,384
Total current assets	125,248	46,127	42,537
Other current assets	6,035	11,022	6,308
TOTAL ASSETS	134,030	56,205	51,581
LIABILITIES AND SHAREHOLDER’S EQUITY
Total shareholders’ equity	70,468	(1,908)	14,243	14,243	€ 43,922
Total non-current liabilities	44,522	43,766	25,186
Non-current financial liabilities	44,107	43,435	24,849
Total current liabilities	19,041	14,347	12,155
Current financial liabilities	4,872	1,091	1,241
Other current liabilities	7,022	5,322	4,350
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	€ 134,030	€ 56,205	51,581
Previously stated
ASSETS
Total non-current assets				3,544
Property, plant and equipment				2,884
Total current assets				42,651
Other current assets				6,422
TOTAL ASSETS				46,195
LIABILITIES AND SHAREHOLDER’S EQUITY
Total shareholders’ equity				14,243
Total non-current liabilities				20,358
Non-current financial liabilities				20,021
Total current liabilities				11,597
Current financial liabilities				500
Other current liabilities				4,533
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY				€ 46,195
IFRS 16 impacts
ASSETS
Total non-current assets			5,500
Property, plant and equipment			5,500
Total current assets			(114)
Other current assets			(114)
TOTAL ASSETS			5,386
LIABILITIES AND SHAREHOLDER’S EQUITY
Total shareholders’ equity			0
Total non-current liabilities			4,828
Non-current financial liabilities			4,828
Total current liabilities			558
Current financial liabilities			741
Other current liabilities			(183)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			€ 5,386

Consolidation principles and methods (Details)	12 Months Ended
Consolidation principles and methods (Details)	Dec. 31, 2020 parent_entity subsidiary	Dec. 31, 2019	Dec. 31, 2018
Significant Accounting Policies [Abstract]
Closing foreign exchange rate	1.2271	1.1234	1.1450
Average foreign exchange rate	1.1413	1.1196	1.1815
Number of parent entities \| parent_entity	1
Number of subsidiaries \| subsidiary	5

Significant transactions (Details)
€ in Thousands, $ in Millions

1 Months Ended

12 Months Ended

101 Months Ended

Feb. 03, 2020

USD ($)

Mar. 31, 2019

EUR (€)

Jan. 31, 2019

USD ($)

Oct. 31, 2018

EUR (€)

Jul. 31, 2018

EUR (€)

Dec. 31, 2020

EUR (€)

Dec. 31, 2020

EUR (€)

Dec. 31, 2020

USD ($)

Dec. 31, 2020

EUR (€)

clinical_trial

Dec. 31, 2020

EUR (€)

patient

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

Dec. 31, 2016

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2012

USD ($)

Dec. 31, 2020

USD ($)

Dec. 31, 2020

USD ($)

Aug. 31, 2012

USD ($)

Disclosure of transactions between related parties [line items]

Increase in loans and conditional advances | €

€ 10,350

€ 14,000

€ 16,000

^[1]

Prepaid expenses | €

€ 2,217

2,217

€ 2,217

2,671

PharmaEngine, NBTWR3

Disclosure of transactions between related parties [line items]

Upfront payment received

$ 1.0

Development milestones payments received

$ 1.0

Total payments received under agreement

$ 3.0

MD Anderson Cancer Center, NBTXR3

Disclosure of transactions between related parties [line items]

Number of patients

340

Contractual capital commitments

$ 11.0

Upfront payment

$ 1.0

Milestone payment

$ 1.0

Milestone payment, deferment period

6 months

Prepaid expenses

€ 1,600

€ 1,700

$ 1.7

EIB fixed rate loan

Disclosure of transactions between related parties [line items]

Increase in loans and conditional advances | €

€ 14,000

€ 16,000

5.00%

6.00%

4.00%

Undrawn borrowing facilities | €

5 years

€ 10,000

Royalties agreement, period

1 year

6 years

Top of range | PharmaEngine, NBTWR3

Disclosure of transactions between related parties [line items]

Potential development and commercial milestones payments

$ 56.0

Top of range | MD Anderson Cancer Center, NBTXR3

Disclosure of transactions between related parties [line items]

Milestone payment increase

$ 16.4

Top of range | EIB fixed rate loan

Disclosure of transactions between related parties [line items]

Notional amount | €

€ 40,000

Bottom of range | MD Anderson Cancer Center, NBTXR3

Disclosure of transactions between related parties [line items]

Milestone payment increase

$ 2.2

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

Intangible assets - Schedule of Intangible Assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about intangible assets [line items]
Intangible assets at beginning of period	€ 163	€ 102
Increases	(141)	61
Decreases	0	0
Transfer	0	0
Intangible assets at end of period	21	163
Gross book value of tangible assets
Disclosure of detailed information about intangible assets [line items]
Intangible assets at beginning of period	710	358
Increases	11	353
Decreases	(5)	0
Transfer	0	0
Intangible assets at end of period	717	710
Gross book value of tangible assets \| Patents
Disclosure of detailed information about intangible assets [line items]
Intangible assets at beginning of period	65	65
Increases	0	0
Decreases	0	0
Transfer	0	0
Intangible assets at end of period	65	65
Gross book value of tangible assets \| Software
Disclosure of detailed information about intangible assets [line items]
Intangible assets at beginning of period	584	293
Increases	11	291
Decreases	(5)	0
Transfer	61	0
Intangible assets at end of period	651	584
Gross book value of tangible assets \| Intangible assets in progress
Disclosure of detailed information about intangible assets [line items]
Intangible assets at beginning of period	61	0
Increases	0	61
Decreases	0	0
Transfer	(61)	0
Intangible assets at end of period	0	61
Accumulated depreciation of tangible assets
Disclosure of detailed information about intangible assets [line items]
Intangible assets at beginning of period	(548)	(256)
Increases	(152)	(292)
Decreases	5	0
Transfer	0	0
Intangible assets at end of period	(695)	(548)
Accumulated depreciation of tangible assets \| Patents
Disclosure of detailed information about intangible assets [line items]
Intangible assets at beginning of period	(65)	(65)
Increases	0	0
Decreases	0	0
Transfer	0	0
Intangible assets at end of period	(65)	(65)
Accumulated depreciation of tangible assets \| Software
Disclosure of detailed information about intangible assets [line items]
Intangible assets at beginning of period	(483)	(191)
Increases	(152)	(292)
Decreases	5	0
Transfer	0	0
Intangible assets at end of period	€ (630)	€ (483)

Intangible assets - Additional Information (Details) - EUR (€)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Intangible assets other than goodwill [abstract]
Impairment loss recognised in profit or loss, intangible assets other than goodwill	€ 0	€ 0

Property, plant and equipment - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020 EUR (€) lease_contract	Dec. 31, 2019 EUR (€)	Jan. 01, 2019 EUR (€)
Disclosure of detailed information about property, plant and equipment [line items]
Increase in right-of-use assets	€ (1,101)	€ 1,044
Number of new lease contracts \| lease_contract	2
Disposals, property, plant and equipment	€ 14	42
IFRS 16 impacts
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets			€ 5,500
Lease contract, Wattignies
Disclosure of detailed information about property, plant and equipment [line items]
Addition to annual rent expense	35
Lease contract, Villejuif
Disclosure of detailed information about property, plant and equipment [line items]
Addition to annual rent expense	15
Gross book value of tangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Increase in right-of-use assets	515	2,522
Disposals, property, plant and equipment	57	64
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	16	815
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
Right of use – Buildings \| IFRS 16 impacts
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets			€ 5,400
Percentage of increase in rights of use assets related to the buildings lease contracts			98.00%
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	€ 418	1,349
Disposals, property, plant and equipment	14	0
Right of use – Buildings \| Gross book value of tangible assets \| Lease contract, Oberkampf street
Disclosure of detailed information about property, plant and equipment [line items]
Additions to right-of-use assets	155
Right of use – Buildings \| Gross book value of tangible assets \| Lease contract, Faubourg Saint-Antoine
Disclosure of detailed information about property, plant and equipment [line items]
Additions to right-of-use assets	140
Right of use – Buildings \| Gross book value of tangible assets \| Lease contract, Alfortville
Disclosure of detailed information about property, plant and equipment [line items]
Disposals, property, plant and equipment	43
Right of use – Buildings \| Gross book value of tangible assets \| Lease contract, parking Villejuif
Disclosure of detailed information about property, plant and equipment [line items]
Additions to right-of-use assets	€ 30
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	€ 42	120
Disposals, property, plant and equipment	€ 0	0
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	€ 37	145
Disposals, property, plant and equipment	€ 1	13
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
Transport equipment \| Gross book value of tangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Increase in right-of-use assets	€ 0	0
Disposals, property, plant and equipment	€ 0	0
Transport equipment \| Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation periods of property, plant and equipment	1 year
Transport equipment \| Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation periods of property, plant and equipment	10 years
Right of use – Transport equipment \| Gross book value of tangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Increase in right-of-use assets	€ 0	82
Disposals, property, plant and equipment	€ 41	€ 51
Right of use – Transport equipment \| Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation periods of property, plant and equipment	1 year
Right of use – Transport equipment \| Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation periods of property, plant and equipment	10 years

Property, plant and equipment - Schedule of Property, Plant and Equipment (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	€ 9,386	€ 8,384
Increases	(1,101)	1,044
Decreases	(14)	(42)
Other movements and transfers	(12)	0
Currency translation	(4)
Property, plant and equipment at end of period	8,256	9,386
Gross book value of tangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	13,197	10,768
Increases	515	2,522
Decreases	(57)	(64)
Other movements and transfers	(15)	(29)
Currency translation	(11)
Property, plant and equipment at end of period	13,630	13,197
Gross book value of tangible assets \| Fixtures, fittings and installations
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	3,297	2,480
Increases	16	815
Decreases	0	0
Other movements and transfers	0	2
Currency translation	0
Property, plant and equipment at end of period	3,313	3,297
Gross book value of tangible assets \| Right of use – Buildings
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	6,766	5,416
Increases	418	1,349
Decreases	(14)	0
Other movements and transfers	0	0
Currency translation	0
Property, plant and equipment at end of period	7,171	6,766
Gross book value of tangible assets \| Technical equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	2,019	1,925
Increases	42	120
Decreases	0	0
Other movements and transfers	0	(25)
Currency translation	0
Property, plant and equipment at end of period	2,061	2,019
Gross book value of tangible assets \| Office and IT equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	957	828
Increases	37	145
Decreases	(1)	(13)
Other movements and transfers	0	(4)
Currency translation	(4)
Property, plant and equipment at end of period	988	957
Gross book value of tangible assets \| Transport equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	34	33
Increases	0	0
Decreases	0	0
Other movements and transfers	0	0
Currency translation	(3)
Property, plant and equipment at end of period	31	34
Gross book value of tangible assets \| Right of use – Transport equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	115	83
Increases	0	82
Decreases	(41)	(51)
Other movements and transfers	(5)	0
Currency translation	(4)
Property, plant and equipment at end of period	65	115
Gross book value of tangible assets \| Tangible assets in progress
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	11	0
Increases	1	11
Decreases	0	0
Other movements and transfers	(11)	0
Currency translation	0
Property, plant and equipment at end of period	1	11
Gross book value of tangible assets \| Prepayments on tangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	0	2
Increases	0	0
Decreases	0	0
Other movements and transfers	0	(2)
Currency translation	0
Property, plant and equipment at end of period	0	0
Accumulated depreciation of tangible assets
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(3,811)	(2,384)
Increases	(1,616)	(1,478)
Decreases	43	22
Other movements and transfers	4	29
Currency translation	6
Property, plant and equipment at end of period	(5,374)	(3,811)
Accumulated depreciation of tangible assets \| Fixtures, fittings and installations
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(1,001)	(750)
Increases	(320)	(251)
Decreases	0	0
Other movements and transfers	0	0
Currency translation	0
Property, plant and equipment at end of period	(1,320)	(1,001)
Accumulated depreciation of tangible assets \| Right of use – Buildings
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(829)	0
Increases	(911)	(829)
Decreases	0	0
Other movements and transfers	2	0
Currency translation	0
Property, plant and equipment at end of period	(1,739)	(829)
Accumulated depreciation of tangible assets \| Technical equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(1,272)	(1,123)
Increases	(194)	(175)
Decreases	0	0
Other movements and transfers	0	25
Currency translation	0
Property, plant and equipment at end of period	(1,466)	(1,272)
Accumulated depreciation of tangible assets \| Office and IT equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(629)	(483)
Increases	(157)	(162)
Decreases	1	12
Other movements and transfers	0	4
Currency translation	2
Property, plant and equipment at end of period	(783)	(629)
Accumulated depreciation of tangible assets \| Transport equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(34)	(28)
Increases	0	(6)
Decreases	0	0
Other movements and transfers	1	0
Currency translation	3
Property, plant and equipment at end of period	(31)	(34)
Accumulated depreciation of tangible assets \| Right of use – Transport equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(45)	0
Increases	(35)	(55)
Decreases	42	10
Other movements and transfers	0	0
Currency translation	1
Property, plant and equipment at end of period	€ (36)	€ (45)

Non-current financial assets - Disclosure of Changes in Non-current Financial Assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets [line items]
Non-current financial assets at beginning of period	€ 529	€ 558
Additions	9	65
Decrease through derecognition, financial assets	(31)	(94)
Currency translation adjustments	(2)
Non-current financial assets at end of period	505	529
Liquidity contract - Cash account \| Financial assets at fair value, class
Disclosure of financial assets [line items]
Non-current financial assets at beginning of period	131	176
Additions	0	0
Decrease through derecognition, financial assets	(27)	(45)
Currency translation adjustments	0
Non-current financial assets at end of period	105	131
Other long- term investments pledged as collateral \| Financial assets at amortised cost, class
Disclosure of financial assets [line items]
Non-current financial assets at beginning of period	0	0
Additions	0	0
Decrease through derecognition, financial assets	0	0
Currency translation adjustments	0
Non-current financial assets at end of period	0	0
Security deposits paid \| Financial assets at amortised cost, class
Disclosure of financial assets [line items]
Non-current financial assets at beginning of period	399	383
Additions	9	65
Decrease through derecognition, financial assets	(5)	(49)
Currency translation adjustments	(2)
Non-current financial assets at end of period	€ 401	€ 399

Non-current financial assets - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Detailed Information About Non-current Financial Assets [Line Items]
Increase (decrease) in financial assets	€ (24)	€ (29)
Additions	9	65
Decreases	€ 31	94
Security deposits paid
Disclosure Of Detailed Information About Non-current Financial Assets [Line Items]
Increase (decrease) in financial assets		16
Additions		65
Decreases		€ 48

Trade receivables and other current assets - Disclosure of Break Down of Trade Receivables (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Trade receivables	€ 62	€ 11
Due in 3 months or less
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Trade receivables	62	11
Due between 3 and 6 months
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Trade receivables	0	0
Due between 6 and 12 months
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Trade receivables	0	0
Due after more than 12 months
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Trade receivables	€ 0	€ 0

Trade receivables and other current assets - Disclosure of Break Down of Other Current Assets (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Subclassifications of assets, liabilities and equities [abstract]
Research tax credit receivable	€ 1,927	€ 5,688		€ 3,251
VAT receivable	971	1,419
Prepaid expenses	2,217	2,671
Other receivables	920	1,245
Other current assets	€ 6,035	€ 11,022	€ 6,308

Trade receivables and other current assets - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Current prepaid expenses related to research agreements		€ 2,300
Miscellaneous prepaid expenses		358
Maximum individual amount of miscellaneous prepaid expenses		70
Current advances to suppliers	€ 805	1,150
Tax credit		2,400
2020 Tax Year
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit	1,900
Nanobiotix S.A.
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit		2,437
Nanobiotix S.A. \| 2020 Tax Year
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit	1,858
Curadigm SAS
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit		64
Curadigm SAS \| 2020 Tax Year
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit	69
MD Anderson Cancer Center, NBTXR3
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Current prepaid expenses related to research agreements	€ 1,600	€ 1,700

Trade receivables and other current assets - Disclosure of Changes in Research Tax Credit Receivables (Details) - EUR (€) € in Thousands	1 Months Ended		12 Months Ended
	Jul. 31, 2020	Feb. 29, 2020	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Research tax credit receivable at beginning of period			€ 5,688	€ 3,251
Tax credit				2,400
Research tax credit receivable at end of period			1,927	5,688
Nanobiotix S.A.
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit				2,437
Curadigm SAS
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit				€ 64
2018 Tax Year
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Refund		€ (3,300)
2018 Tax Year \| Nanobiotix S.A.
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Refund			(3,251)
2019 Tax Year
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Refund	€ (2,400)
2019 Tax Year \| Nanobiotix S.A.
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Refund			(2,374)
2019 Tax Year \| Curadigm SAS
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Refund			(64)
2020 Tax Year
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit			1,900
2020 Tax Year \| Nanobiotix S.A.
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit			1,858
2020 Tax Year \| Curadigm SAS
Disclosure of Trade Receivables and Other Current Assets [Line Items]
Tax credit			€ 69

Cash and cash equivalents - Summary of Cash and Cash Equivalents (Details) - EUR (€)
€ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

^[1]

Dec. 31, 2017

^[1]

Subclassifications of assets, liabilities and equities [abstract]

Short-term bank deposits

€ 0

€ 10,000

Cash and bank accounts

119,151

25,094

Total cash and cash equivalents

€ 119,151

€ 35,094

€ 36,203

€ 47,212

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

Cash and cash equivalents - Additional Information (Details)
€ in Thousands, $ in Millions

1 Months Ended

12 Months Ended

Dec. 15, 2020

EUR (€)

Dec. 15, 2020

USD ($)

Jul. 28, 2020

EUR (€)

Jul. 27, 2020

EUR (€)

Jul. 10, 2020

EUR (€)

Dec. 31, 2020

EUR (€)

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

^[1]

Disclosure of Cash and Cash Equivalents [Line Items]

Increase in cash

€ 94,057

Net proceeds from issue of ordinary shares

€ 82,800

$ 100.4

Capital increases

$ 113.3

€ 18,600

€ 18,800

113,650

€ 29,517

€ 0

Non-Dilutive Financing Agreement, BPI France and HSBC France

€ 10,350

€ 14,000

€ 16,000

Disclosure of Cash and Cash Equivalents [Line Items]

€ 10,000

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

Share capital - Detail of Share Capital Transactions (Details)																							12 Months Ended			24 Months Ended
	Dec. 18, 2020 EUR (€) shares	Dec. 18, 2020 $ / shares	Dec. 16, 2020 EUR (€) € / shares shares	Dec. 16, 2020 $ / shares	Jul. 28, 2020 EUR (€) shares	Jul. 27, 2020 EUR (€) shares	Jun. 30, 2020 EUR (€)	Jun. 29, 2020 EUR (€)	Jun. 26, 2020 EUR (€)	Jun. 24, 2020 EUR (€)	Mar. 06, 2020 EUR (€) shares	Dec. 31, 2019 EUR (€) shares	Jul. 17, 2019 EUR (€) shares	Jun. 28, 2019 EUR (€)	Jun. 25, 2019 EUR (€)	Jun. 24, 2019 EUR (€)	May 21, 2019 EUR (€)	May 01, 2019 EUR (€)	Apr. 25, 2019 EUR (€) shares	Apr. 09, 2019 EUR (€) € / shares shares	Apr. 09, 2019 $ / shares	Mar. 29, 2019 EUR (€)	Dec. 31, 2020 EUR (€) shares	Dec. 31, 2019 EUR (€) shares	Dec. 31, 2018 EUR (€) shares	Dec. 31, 2019 EUR (€) shares
Disclosure of classes of share capital [line items]
Equity at beginning of period																							€ (1,908,000)	€ 14,243,000	€ 43,922,000	€ 43,922,000
Subscription of warrants																							5,000	21,000	59,000
Capital increase						€ 180																	102,942,000	28,079,000
U.S. Initial public offering costs					€ (1,387,000)																		(10,700,000)	1,030,000	(1,030,000)
Exercise of founders warrants																								1,306,000
Issue of equity, price per share \| € / shares																				€ 11.50
Equity at end of period												€ (1,908,000)											70,468,000	(1,908,000)	14,243,000	(1,908,000)
IPO initial deal, Euro
Disclosure of classes of share capital [line items]
Issue of equity, price per share \| € / shares			€ 11.14
IPO initial deal, US Dollar
Disclosure of classes of share capital [line items]
Issue of equity, price per share \| $ / shares				$ 13.50
IPO green shoe, US Dollar
Disclosure of classes of share capital [line items]
Issue of equity, price per share \| $ / shares		$ 13.50
Share capital Ordinary shares
Disclosure of classes of share capital [line items]
Equity at beginning of period																							672,451.17	589,001.19	589,000	589,000
Capital increase					€ 99,000						€ 9,000									€ 77,000			361,000	77,000
Exercise of founders warrants													€ 2,000						€ 5,000					6,000
Equity at end of period												€ 672,451.17											€ 1,032,963.66	€ 672,451.17	€ 589,001.19	€ 672,451.17
Number of shares outstanding at beginning of period (in shares) \| shares																							22,415,039	19,633,373	19,633,373	19,633,373
Capital increase (in shares) \| shares					3,300,000	6,000					316,083									2,566,666			12,017,083	2,566,666
BSPCE exercise (in shares) \| shares													55,000						160,000
Number of shares outstanding at end of period (in shares) \| shares												22,415,039											34,432,122	22,415,039	19,633,373	22,415,039
Share capital Ordinary shares \| IPO initial deal, Euro
Disclosure of classes of share capital [line items]
Capital increase			€ 56,000
Issue of equity, price per share \| € / shares																				€ 11.14
Capital increase (in shares) \| shares			1,855,000
Share capital Ordinary shares \| IPO initial deal, US Dollar
Disclosure of classes of share capital [line items]
Capital increase			€ 163,000
Issue of equity, price per share \| $ / shares																					$ 13.50
Capital increase (in shares) \| shares			5,445,000
Share capital Ordinary shares \| IPO green shoe, US Dollar
Disclosure of classes of share capital [line items]
Capital increase	€ 33,000
Issue of equity, price per share \| $ / shares																					$ 13.50
Capital increase (in shares) \| shares	1,095,000
Premiums related to share capital
Disclosure of classes of share capital [line items]
Equity at beginning of period																							€ 153,139,000	€ 122,799,000	€ 123,782,000	€ 123,782,000
Subscription of warrants							€ 1,000	€ 2,000	€ 1,000	€ 1,000				€ 5,000	€ 3,000	€ 3,000	€ 6,000	€ 3,000				€ (13,000)	5,000	8,000	47,000
Capital increase					€ 20,030,000						€ 0									€ 29,440,000			102,591,000	28,002,000
U.S. Initial public offering costs	€ (9,322,000)											€ 1,030,000								€ (1,438,000)				1,030,000	(1,030,000)
Exercise of founders warrants													€ 345,000						€ 955,000					1,300,000
Equity at end of period												€ 153,139,000											€ 255,735,000	€ 153,139,000	€ 122,799,000	€ 153,139,000
Premiums related to share capital \| IPO initial deal, Euro
Disclosure of classes of share capital [line items]
Capital increase			€ 20,609,000
Premiums related to share capital \| IPO initial deal, US Dollar
Disclosure of classes of share capital [line items]
Capital increase			€ 60,494,000
Premiums related to share capital \| IPO green shoe, US Dollar
Disclosure of classes of share capital [line items]
Capital increase	€ 12,165,000

Share capital - Capital Issued Narrative (Details)											1 Months Ended	12 Months Ended
Share capital - Capital Issued Narrative (Details)	Dec. 18, 2020 EUR (€) shares	Dec. 18, 2020 $ / shares	Dec. 16, 2020 EUR (€) € / shares shares	Dec. 16, 2020 $ / shares	Jul. 28, 2020 EUR (€) shares	Jul. 27, 2020 EUR (€) shares	Mar. 06, 2020 EUR (€) shares	Dec. 31, 2019 EUR (€) € / shares shares	Apr. 09, 2019 EUR (€) € / shares shares	Apr. 09, 2019 € / shares $ / shares	Dec. 31, 2020 EUR (€) € / shares shares	Dec. 31, 2020 EUR (€) € / shares shares	Dec. 31, 2019 EUR (€) € / shares shares	Dec. 31, 2018 EUR (€) € / shares shares	Jan. 01, 2019 EUR (€)	Dec. 31, 2017 EUR (€) shares
Disclosure of classes of share capital [line items]
Total shareholders’ equity								€ (1,908,000)			€ 70,468,000	€ 70,468,000	€ (1,908,000)	€ 14,243,000	€ 14,243,000	€ 43,922,000
Par value per share (euro per share) \| € / shares								€ 0.03	€ 0.03	€ 0.03	€ 0.03	€ 0.03	€ 0.03	€ 0.03
Issue of equity, price per share \| € / shares									€ 11.50
Capital increase						€ 180						€ 102,942,000	€ 28,079,000
Share issue related cost					€ 1,387,000							10,700,000	(1,030,000)	€ 1,030,000
Initial offering costs											€ 349,000	349,000
IPO initial deal, US Dollar
Disclosure of classes of share capital [line items]
Issue of equity, price per share \| $ / shares				$ 13.50
IPO initial deal, Euro
Disclosure of classes of share capital [line items]
Issue of equity, price per share \| € / shares			€ 11.14
IPO green shoe, US Dollar
Disclosure of classes of share capital [line items]
Issue of equity, price per share \| $ / shares		$ 13.50
Share capital Ordinary shares
Disclosure of classes of share capital [line items]
Total shareholders’ equity								€ 672,451.17			€ 1,032,963.66	€ 1,032,963.66	€ 672,451.17	€ 589,001.19		€ 589,000
Number of shares outstanding \| shares								22,415,039			34,432,122	34,432,122	22,415,039	19,633,373		19,633,373
Capital increase (in shares) \| shares					3,300,000	6,000	316,083		2,566,666			12,017,083	2,566,666
Capital increase					€ 99,000		€ 9,000		€ 77,000			€ 361,000	€ 77,000
Share capital Ordinary shares \| Initial Public Offering
Disclosure of classes of share capital [line items]
Capital increase (in shares) \| shares											8,395,000
Share capital Ordinary shares \| IPO initial deal, US Dollar
Disclosure of classes of share capital [line items]
Capital increase (in shares) \| shares			5,445,000
Issue of equity, price per share \| $ / shares										€ 13.50
Capital increase			€ 163,000
Share capital Ordinary shares \| IPO initial deal, Euro
Disclosure of classes of share capital [line items]
Capital increase (in shares) \| shares			1,855,000
Issue of equity, price per share \| € / shares									€ 11.14
Capital increase			€ 56,000
Share capital Ordinary shares \| IPO green shoe, US Dollar
Disclosure of classes of share capital [line items]
Capital increase (in shares) \| shares	1,095,000
Issue of equity, price per share \| $ / shares										€ 13.50
Capital increase	€ 33,000
Premiums related to share capital
Disclosure of classes of share capital [line items]
Total shareholders’ equity								€ 153,139,000			€ 255,735,000	255,735,000	153,139,000	€ 122,799,000		€ 123,782,000
Capital increase					€ 20,030,000		€ 0		€ 29,440,000			€ 102,591,000	28,002,000
Share issue related cost	9,322,000							€ (1,030,000)	€ 1,438,000				€ (1,030,000)	€ 1,030,000
Premiums related to share capital \| IPO initial deal, US Dollar
Disclosure of classes of share capital [line items]
Capital increase			60,494,000
Premiums related to share capital \| IPO initial deal, Euro
Disclosure of classes of share capital [line items]
Capital increase			€ 20,609,000
Premiums related to share capital \| IPO green shoe, US Dollar
Disclosure of classes of share capital [line items]
Capital increase	€ 12,165,000

Share capital - Treasury Shares (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Treasury shares	€ 196	€ 169
Treasury shares
Disclosure of classes of share capital [line items]
Number of shares outstanding	12,970	15,723

Share capital - Detail of Change in Founders' Warrants, Warrants and Stock Options (Details)																							12 Months Ended
	Jul. 27, 2020 shares	Mar. 17, 2020 shares	Mar. 17, 2020 € / shares	Mar. 17, 2020 uSDollarPerEuro	Mar. 11, 2020 shares uSDollarPerEuro € / shares	Oct. 24, 2019 shares € / shares	Mar. 29, 2019 shares	Mar. 29, 2019 € / shares	Mar. 29, 2019 uSDollarPerEuro	Jul. 27, 2018 shares uSDollarPerEuro € / shares	Mar. 06, 2018 shares uSDollarPerEuro € / shares	Jan. 07, 2017 shares € / 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 € / shares	May 04, 2012 shares € / shares	Dec. 31, 2020 shares	Dec. 31, 2020 shares € / shares	Dec. 31, 2020 shares uSDollarPerEuro	Dec. 31, 2019 shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding, beginning of period (in shares)																							2,338,013			3,176,910
Outstanding, end of period (in shares)																							2,414,654			2,338,013
BSA
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding, beginning of period (in shares)																							251,028			233,028
Issued (in shares)																							18,000			18,000
Exercised (in shares)																							0			0
Forfeited (in shares)																							(6,000)			0
Outstanding, end of period (in shares)																							263,028			251,028
Number of shares issuable (in shares)																							263,028	263,028	263,028	251,028
BSA 04-12
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																						€ 6.00
Outstanding, beginning of period (in shares)																							30,000			30,000
Issued (in shares)																						52,500	0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							0			0
Outstanding, end of period (in shares)																							30,000			30,000
Number of shares issuable (in shares)																							30,000	30,000	30,000	30,000
BSA 2013
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																				€ 6.37
Outstanding, beginning of period (in shares)																							6,000			6,000
Issued (in shares)																				10,000			0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							0			0
Outstanding, end of period (in shares)																							6,000			6,000
Number of shares issuable (in shares)																							6,000	6,000	6,000	6,000
BSA 2014
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																		€ 17.67						€ 40
Outstanding, beginning of period (in shares)																							10,000			10,000
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)																							10,000	10,000	10,000	10,000
BSA 2015-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																	€ 17.67
Outstanding, beginning of period (in shares)																							21,000
Issued (in shares)																	26,000						0
Exercised (in shares)																							0
Forfeited (in shares)																							0
Outstanding, end of period (in shares)																							21,000			21,000
Number of shares issuable (in shares)																							21,000	21,000	21,000
BSA 2015-1 \| Executive Board
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																	€ 17.67
Outstanding, beginning of period (in shares)																							17,000			17,000
Issued (in shares)																										0
Exercised (in shares)																										0
Forfeited (in shares)																										0
Outstanding, end of period (in shares)																										17,000
Number of shares issuable (in shares)																										17,000
BSA 2015-1 \| External Consultant
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																	17.67
Outstanding, beginning of period (in shares)																							4,000			4,000
Issued (in shares)																										0
Exercised (in shares)																										0
Forfeited (in shares)																										0
Outstanding, end of period (in shares)																										4,000
Number of shares issuable (in shares)																										4,000
BSA 2015-2(a)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares															€ 19.54
Outstanding, beginning of period (in shares)																							64,000			64,000
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)																							64,000	64,000	64,000	64,000
BSA 2015-2(b)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares															€ 19.54
Outstanding, beginning of period (in shares)																							6,000			6,000
Issued (in shares)															6,000								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 2016
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares														€ 13.74
Outstanding, beginning of period (in shares)																							36,208			36,208
Issued (in shares)																							0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							0			0
Outstanding, end of period (in shares)																							36,208			36,208
Number of shares issuable (in shares)																							36,208	36,208	36,208	36,208
BSA 2016-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares													€ 15.01
Outstanding, beginning of period (in shares)																							8,000			8,000
Issued (in shares)													8,000										0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							0			0
Outstanding, end of period (in shares)																							8,000			8,000
Number of shares issuable (in shares)																							8,000	8,000	8,000	8,000
BSA 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares												€ 15.76
Outstanding, beginning of period (in shares)																							18,000			18,000
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)																							18,000	18,000	18,000	18,000
BSA 2018-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares											€ 13.55
Outstanding, beginning of period (in shares)																							28,000			28,000
Issued (in shares)											28,000												0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							0			0
Outstanding, end of period (in shares)																							28,000			28,000
Number of shares issuable (in shares)																							28,000	28,000	28,000	28,000
BSA 2018-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares										€ 16.102
Outstanding, beginning of period (in shares)																							5,820			5,820
Issued (in shares)										5,820													0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							0
Outstanding, end of period (in shares)																							5,820			5,820
Number of shares issuable (in shares)																							5,820	5,820	5,820	5,820
BSA 2019-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares								€ 11.66
Outstanding, beginning of period (in shares)																							18,000			0
Issued (in shares)							18,000		18,000														0			18,000
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)																							18,000	18,000	18,000	18,000
BSA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares			€ 6.59
Outstanding, beginning of period (in shares)																							0
Issued (in shares)		18,000		18,000																			18,000
Exercised (in shares)																							0
Forfeited (in shares)																							0
Outstanding, end of period (in shares)																							18,000			0
Number of shares issuable (in shares)																							18,000	18,000	18,000
BSPCE
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding, beginning of period (in shares)																							751,585			2,505,732
Issued (in shares)																							0			0
Exercised (in shares)																							0			(215,000)
Forfeited (in shares)																							(32,818)			(1,539,147)
Outstanding, end of period (in shares)																							718,767			751,585
Number of shares issuable (in shares)																							718,767	718,767	718,767	751,585
BSPCE 2012-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																					€ 6.63
Outstanding, beginning of period (in shares)																							100,000			100,000
Issued (in shares)																					100,000		0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							0			0
Outstanding, end of period (in shares)																							100,000			100,000
Number of shares issuable (in shares)																							100,000	100,000	100,000	100,000
BSPCE 08-2013
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																			€ 5.92
Outstanding, beginning of period (in shares)																							50,000			50,000
Issued (in shares)																			50,000				0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							0			0
Outstanding, end of period (in shares)																							50,000			50,000
Number of shares issuable (in shares)																							50,000	50,000	50,000	50,000
BSPCE 09-2014
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																		€ 18.68
Outstanding, beginning of period (in shares)																							92,100			92,100
Issued (in shares)																		97,200					0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							(5,950)			0
Outstanding, end of period (in shares)																							86,150			92,100
Number of shares issuable (in shares)																							86,150	86,150	86,150	92,100
BSPCE 2015-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																	€ 18.57
Outstanding, beginning of period (in shares)																							70,950			70,950
Issued (in shares)																	71,650						0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							(2,500)			0
Outstanding, end of period (in shares)																							68,450			70,950
Number of shares issuable (in shares)																							68,450	68,450	68,450	70,950
BSPCE 2015-3
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																€ 20.28
Outstanding, beginning of period (in shares)																							38,400			39,750
Issued (in shares)																53,050							0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							(7,700)			(1,350)
Outstanding, end of period (in shares)																							30,700			38,400
Number of shares issuable (in shares)																							30,700	30,700	30,700	38,400
BSPCE 2016
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares														14.46
Outstanding, beginning of period (in shares)																							212,969			220,967
Issued (in shares)																							0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							(10,352)			(7,998)
Outstanding, end of period (in shares)																							202,617			212,969
Number of shares issuable (in shares)																							202,617	202,617	202,617	212,969
BSPCE 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares												€ 15.93
Outstanding, beginning of period (in shares)																							187,166			202,417
Issued (in shares)																							0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							(6,316)			(15,251)
Outstanding, end of period (in shares)																							180,850			187,166
Number of shares issuable (in shares)																							180,850	180,850	180,850	187,166
BSPCE 2012-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																						€ 6.00
Outstanding, beginning of period (in shares)																							0			1,674,548
Issued (in shares)																										0
Exercised (in shares)																										(160,000)
Forfeited (in shares)																										(1,514,548)
Outstanding, end of period (in shares)																										0
Number of shares issuable (in shares)																										0
BSPCE 04-2013
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares																				€ 6.30
Outstanding, beginning of period (in shares)																							0			55,000
Issued (in shares)																										0
Exercised (in shares)																										(55,000)
Forfeited (in shares)																										0
Outstanding, end of period (in shares)																										0
Number of shares issuable (in shares)																										0
OSA
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding at beginning of period (in shares)																							589,150			62,900
Issued (in shares)																							407,972			537,500
Exercised (in shares)																							0			0
Forfeited (in shares)																							(10,763)			(11,250)
Outstanding at end of period (in shares)																							986,359			589,150
Number of shares issuable (in shares)																							986,359	986,359	986,359	589,150
OSA 2016-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
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	400
OSA 2016-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
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
Disclosure of terms and conditions of share-based payment arrangement [line items]
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
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares											€ 12.87
Outstanding at beginning of period (in shares)																							54,000			58,000
Issued (in shares)											62,000												0			0
Exercised (in shares)																							0			0
Forfeited (in shares)																							(2,000)			(4,000)
Outstanding at end of period (in shares)																							52,000			54,000
Number of shares issuable (in shares)																							52,000	52,000	52,000	54,000
OSA 2019-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares								11.08
Outstanding at beginning of period (in shares)																							30,250			0
Issued (in shares)							37,500																0			37,500
Exercised (in shares)																							0			0
Forfeited (in shares)																							(1,500)			(7,250)
Outstanding at end of period (in shares)																							28,750			30,250
Number of shares issuable (in shares)																							28,750	28,750	28,750	30,250
OSA LLY 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares						€ 6.41
Outstanding at beginning of period (in shares)																							500,000			0
Issued (in shares)						500,000																	0			500,000
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)																							500,000	500,000	500,000	500,000
OSA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares					€ 6.25
Outstanding at beginning of period (in shares)																							0
Issued (in shares)					407,972																		407,972
Exercised (in shares)																							0
Forfeited (in shares)																							(7,263)
Outstanding at end of period (in shares)																							400,709			0
Number of shares issuable (in shares)																							400,709	400,709	400,709
AGA
Disclosure of terms and conditions of share-based payment arrangement [line items]
Outstanding, beginning of period (in shares)																							746,250			375,250
Issued (in shares)																							50,000			438,250
Exercised (in shares)																							(322,083)			0
Forfeited (in shares)																							(27,667)			(67,250)
Outstanding, end of period (in shares)																							446,500			746,250
Number of shares issuable (in shares)																							446,500	446,500	446,500	746,250
AGA 2018-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares											€ 0
Outstanding, beginning of period (in shares)																							355,250			369,250
Issued (in shares)											396,250												0			0
Exercised (in shares)																							(316,083)		(316,083)	0
Forfeited (in shares)																							(14,667)			(14,000)
Outstanding, end of period (in shares)																							24,500		24,500	355,250
Number of shares issuable (in shares)																							24,500	24,500	24,500	355,250
AGA 2018-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares										€ 0
Outstanding, beginning of period (in shares)																							6,000			6,000
Issued (in shares)	6,000									6,000													0			0
Exercised (in shares)																							(6,000)		(6,000)	0
Forfeited (in shares)																							0			0
Outstanding, end of period (in shares)																							0		0	6,000
Number of shares issuable (in shares)																							0	0	0	6,000
AGA 2019-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares								€ 0
Outstanding, beginning of period (in shares)																							385,000			0
Issued (in shares)									438,250														0			438,250
Exercised (in shares)																							0		0	0
Forfeited (in shares)																							(13,000)			(53,250)
Outstanding, end of period (in shares)																							372,000		372,000	385,000
Number of shares issuable (in shares)																							372,000	372,000	372,000	385,000
AGA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price (in euros per share) \| € / shares					€ 0
Outstanding, beginning of period (in shares)																							0
Issued (in shares)					50,000																		50,000
Exercised (in shares)																							0		0
Forfeited (in shares)																							0
Outstanding, end of period (in shares)																							50,000		50,000	0
Number of shares issuable (in shares)																							50,000	50,000	50,000

Share capital - Warrant Plans (Details)							12 Months Ended
Share capital - Warrant Plans (Details)	Mar. 17, 2020 shares € / shares	Mar. 17, 2020 € / shares	Mar. 17, 2020 uSDollarPerEuro € / shares	Mar. 29, 2019 shares € / shares	Mar. 29, 2019 € / shares	Mar. 29, 2019 uSDollarPerEuro € / shares	Dec. 31, 2020 shares € / shares	Dec. 31, 2019 shares € / shares	Apr. 09, 2019 € / shares	Dec. 31, 2018 € / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Par value per share (euro per share)							€ 0.03	€ 0.03	€ 0.03	€ 0.03
BSA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares)	18,000		18,000				18,000
Par value per share (euro per share)	€ 0.03	€ 0.03	€ 0.03
Exercise price (in euros per share)		€ 6.59
BSA 2019-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares)				18,000		18,000	0	18,000
Par value per share (euro per share)				€ 0.03	€ 0.03	€ 0.03
Exercise price (in euros per share)					€ 11.66

Share capital - Stock Option Plans (Details)				12 Months Ended
Share capital - Stock Option Plans (Details)	Mar. 11, 2020 shares € / shares	Oct. 24, 2019 shares € / shares	Mar. 29, 2019 shares € / shares	Dec. 31, 2020 shares € / shares	Dec. 31, 2019 shares € / shares	Apr. 09, 2019 € / shares	Dec. 31, 2018 € / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Par value per share (euro per share)				€ 0.03	€ 0.03	€ 0.03	€ 0.03
OSA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares	407,972			407,972
Number of ordinary share subscribed per each OSA \| shares	1
Exercise price (in euros per share)	€ 6.25
OSA 2020 \| 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%
OSA 2020 \| 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%
OSA 2020 \| 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%
OSA 2019-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares			37,500	0	37,500
Number of ordinary share subscribed per each OSA \| shares			1
Exercise price (in euros per share)			€ 11.08
OSA 2019-1 \| Tranche one
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting requirements for share-based payment arrangement, vesting percentage			66.67%
OSA 2019-1 \| 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%
OSA LLY 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares		500,000		0	500,000
Exercise price (in euros per share)		€ 6.41
Maximum term of options granted for share-based payment arrangement in the event of death or disability of optionee		6 months
OSA
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares				407,972	537,500
Maximum term of options granted for share-based payment arrangement		10 years
Executive Board and Alain Dostie \| OSA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares	300,000
Employees \| OSA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares	107,972
Par value per share (euro per share)	€ 0.03
Exercise price (in euros per share)	€ 6.25
Employees \| OSA 2019-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares			37,500
Par value per share (euro per share)			€ 0.03
Exercise price (in euros per share)			€ 11.08
Chief Executive Officer \| OSA LLY 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares		500,000
Par value per share (euro per share)		€ 0.03
Exercise price (in euros per share)		€ 6.41
Maximum term of options granted for share-based payment arrangement		10 years
Chief Executive Officer \| OSA LLY 2019 \| Tranche one
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting requirements for share-based payment arrangement, vesting percentage		10.00%
Share price milestone, Euronext Paris		€ 24
Chief Executive Officer \| OSA LLY 2019 \| Tranche two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting requirements for share-based payment arrangement, vesting percentage		10.00%
Share price milestone, Euronext Paris		€ 30
Chief Executive Officer \| OSA LLY 2019 \| Tranche three
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting requirements for share-based payment arrangement, vesting percentage		40.00%
Share price milestone, Euronext Paris		€ 40
Chief Executive Officer \| OSA LLY 2019 \| Tranche four
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting requirements for share-based payment arrangement, vesting percentage		40.00%
Share price milestone, Euronext Paris		€ 60

Share capital - Free Share Plans (Details)						12 Months Ended
Share capital - Free Share Plans (Details)	Jul. 27, 2020 EUR (€) shares	Mar. 11, 2020 shares uSDollarPerEuro € / shares	Oct. 24, 2019	Mar. 29, 2019 shares uSDollarPerEuro € / shares	Jul. 27, 2018 uSDollarPerEuro	Dec. 31, 2020 EUR (€) shares € / shares	Dec. 31, 2019 EUR (€) shares € / shares	Apr. 09, 2019 € / shares	Dec. 31, 2018 € / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Par value per share (euro per share) \| € / shares						€ 0.03	€ 0.03	€ 0.03	€ 0.03
Capital increase, net \| €	€ 180					€ 102,942,000	€ 28,079,000
AGA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares)		50,000				50,000
AGA 2019-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares)				438,250		0	438,250
AGA 2018-2
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares)	6,000				6,000	0	0
Vesting requirements for share-based payment arrangement, acquisition period	2 years
AGA
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares						50,000	438,250
Maximum term of options granted for share-based payment arrangement in the event of death or disability of optionee			6 months
Anne-Juliette Hermant \| AGA 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares		50,000
Par value per share (euro per share) \| € / shares		€ 0.03
Executive Board and Employees \| AGA 2019-1
Disclosure of terms and conditions of share-based payment arrangement [line items]
Issued (in shares) \| shares				438,250
Par value per share (euro per share) \| € / shares				€ 0.03
Vesting requirements for share-based payment arrangement, acquisition period		2 years
Vesting requirements for share-based payment arrangement, holding period		1 year
Vesting requirements for share-based payment arrangement, acquisition period for foreign tax residents		3 years

Provisions - Disclosure of Changes in Provisions (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other provisions [table]
Other provisions at beginning of period	€ 495	€ 392
Increases	123	246
Decreases	(164)	(143)
Other provisions at end of period	454	495
Non-Current Other Provisions
Disclosure of other provisions [table]
Other provisions at beginning of period	331	337
Increases	83	82
Decreases	0	(88)
Other provisions at end of period	414	331
Lump-Sum Retirement Benefits
Disclosure of other provisions [table]
Other provisions at beginning of period	331	337
Increases	83	82
Decreases	0	(88)
Other provisions at end of period	414	331
Current Other Provisions
Disclosure of other provisions [table]
Other provisions at beginning of period	164	55
Increases	40	164
Decreases	(164)	(55)
Other provisions at end of period	40	164
Provisions for disputes
Disclosure of other provisions [table]
Other provisions at beginning of period	0	55
Increases	40	0
Decreases	0	(55)
Other provisions at end of period	40	0
Provision for charges
Disclosure of other provisions [table]
Other provisions at beginning of period	164	0
Increases	0	164
Decreases	(164)	0
Other provisions at end of period	€ 0	€ 164

Provisions - Additional Information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of other provisions [table]
Provision used	€ (145)	€ (55)	€ (50)
Provision for charges	123	246
Provisions for disputes
Disclosure of other provisions [table]
Provision used		55	€ 50
Provision for charges	40	0
Provision for charges
Disclosure of other provisions [table]
Provision used	145
Provision for charges	€ 0	€ 164

Provisions - Disclosure of Commitments for Retirement Benefits (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Provisions [abstract]
Provisions of retirement benefits at beginning of period	€ 331	€ 337
Cost of services	76	76	€ 55
Interests / discounting costs	3	6
Retirement benefit obligations	79	82
Gains or losses related to experience	(61)	(116)
Gains or losses related to change in demographic assumptions	3	(21)
Gains or losses related to change in financial assumptions	62	48
Actuarial gains or losses recognized in other comprehensive income	4	(88)
Provisions of retirement benefits at end of period	€ 414	€ 331	€ 337

Provisions - Disclosure of Assumptions Used to Measure Retirement Benefits (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of defined benefit plans [table]
Social security contribution rate	44.00%	43.00%
Discount rate	0.33%	0.85%
Salary increase rate (including inflation)		2.50%
Staff turnover	0.0586%	0.0586%
Duration	17 years	17 years
Management
Disclosure of defined benefit plans [table]
Retirement assumptions	66 years	66 years
Non-management
Disclosure of defined benefit plans [table]
Retirement assumptions	64 years	64 years
Executive
Disclosure of defined benefit plans [table]
Salary increase rate (including inflation)	3.00%
Non-executive
Disclosure of defined benefit plans [table]
Salary increase rate (including inflation)	0.025%

Financial liabilities - Summary of Changes in Financial Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Disclosure Of Changes In Financial Liabilities [Line Items]
Current financial liabilities	€ 4,872	€ 1,091	€ 1,241
Non-current financial liabilities	44,107	43,435	€ 24,849
Total financial liabilities	48,979	44,526
Lease liabilities
Disclosure Of Changes In Financial Liabilities [Line Items]
Current financial liabilities	1,197	591
Non-current financial liabilities	4,991	5,814
Conditional Advances
Disclosure Of Changes In Financial Liabilities [Line Items]
Current financial liabilities	500	500
Non-current financial liabilities	2,975	2,875
PGE \| Long-term borrowings
Disclosure Of Changes In Financial Liabilities [Line Items]
Current financial liabilities	141	0
Non-current financial liabilities	9,922	0
EIB Loan \| Long-term borrowings
Disclosure Of Changes In Financial Liabilities [Line Items]
Current financial liabilities	3,033	0
Non-current financial liabilities	€ 26,218	€ 34,746

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

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

Financial liabilities - Additional Information (Details)
€ in Thousands

1 Months Ended

12 Months Ended

Jul. 10, 2020

EUR (€)

quarterly_instalment

Jun. 22, 2020

EUR (€)

Jul. 31, 2020

Jun. 30, 2020

EUR (€)

Mar. 31, 2019

EUR (€)

Oct. 31, 2018

EUR (€)

Jul. 31, 2018

EUR (€)

tranche

Dec. 31, 2020

EUR (€)

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

tranche

Conditional Advances And Loans From Government And Public Authorities

€ 10,350

€ 14,000

€ 16,000

^[1]

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

Impact of accretion and discounting

(1,763)

(1,561)

Accumulated variable interest expense accrual

€ (4,789)

4,243

Banque Publique d’Investissement

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

Advances deferment period

18 months

Advances received

€ 2,100

Bpifrance

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

Advances received

€ 350

Authorized amount to be advanced

500

EIB Loan

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

Number of tranches | tranche

Borrowing, deferment period to request funds

€ 14,000

€ 16,000

12 months

Royalties agreement, period

6 years

1 year

5 years

Expected future royalty payments

5.00%

6.00%

4.00%

€ 17,200

43,400

Accumulated variable interest expense accrual

4,800

Borrowings

37,000

EIB Loan | Conditional Advances And Loans From Government And Public Authorities

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

Impact of accretion and discounting

(1,731)

(1,545)

Accumulated variable interest expense accrual

(4,789)

€ 4,243

EIB Loan | Fixed interest rate

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

Total interest payable

7,000

Interest payable

1,700

EIB Loan | Floating interest rate

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

Total interest payable

17,200

EIB Loan | Top of range

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

€ 40,000

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

€ 5,000

5,000

€ 350

€ 5,000

12 months

1.61%

0.25%

Percentage of State-Guaranteed loan

6 years

0.90

Borrowing, subsequent period bearing interest

5 years

Number of quarterly instalments | quarterly_instalment

2.25%

1.36%

PGE Loan, HSBC France

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

€ 5,000

5,000

€ 5,000

12 months

5 years

0.25%

PGE Loan, HSBC France | Top of range

5 years

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

PGE Loan, HSBC France | Bottom of range

5 years

Disclosure Of Detailed Information About Financial Liabilities [Line Items]

Changes in liabilities arising from financing activities [abstract]

1 year

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

Financial liabilities - Summary of Conditional Advances and Loans From Government and Public Authorities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Conditional Advances And Loans From Government And Public Authorities
Summary Of Conditional Advances, Banks Loans And Loans [Line Items]
Liabilities arising from financing activities at beginning of period	€ 38,121	€ 20,521
Changes in liabilities arising from financing activities [abstract]
Principal received	350	14,000
Impact of discounting and accretion	(1,769)	(1,354)
Accumulated fixed interest expense accrual	1,763	1,561
Accumulated variable interest expense accrual	(4,789)	4,243
Repayment	(950)	(850)
Liabilities arising from financing activities at end of period	32,727	38,121
Bpifrance advance \| Conditional Advances And Loans From Government And Public Authorities
Summary Of Conditional Advances, Banks Loans And Loans [Line Items]
Liabilities arising from financing activities at beginning of period	2,165	2,116
Changes in liabilities arising from financing activities [abstract]
Principal received	0	0
Impact of discounting and accretion	19	32
Accumulated fixed interest expense accrual	32	16
Accumulated variable interest expense accrual	0	0
Repayment	0	0
Liabilities arising from financing activities at end of period	2,216	2,165
Interest-free Bpifrance loan \| Conditional Advances And Loans From Government And Public Authorities
Summary Of Conditional Advances, Banks Loans And Loans [Line Items]
Liabilities arising from financing activities at beginning of period	1,210	1,675
Changes in liabilities arising from financing activities [abstract]
Principal received	0	0
Impact of discounting and accretion	14	36
Accumulated fixed interest expense accrual	0	0
Accumulated variable interest expense accrual	0	0
Repayment	(250)	(500)
Liabilities arising from financing activities at end of period	974	1,210
EIB fixed rate loan
Changes in liabilities arising from financing activities [abstract]
Accumulated variable interest expense accrual	4,800
EIB fixed rate loan \| Conditional Advances And Loans From Government And Public Authorities
Summary Of Conditional Advances, Banks Loans And Loans [Line Items]
Liabilities arising from financing activities at beginning of period	34,746	16,730
Changes in liabilities arising from financing activities [abstract]
Principal received	0	14,000
Impact of discounting and accretion	(1,736)	(1,422)
Accumulated fixed interest expense accrual	1,731	1,545
Accumulated variable interest expense accrual	(4,789)	4,243
Repayment	(700)	(350)
Liabilities arising from financing activities at end of period	29,251	34,746
Curadigm Bpifrance advance \| Conditional Advances And Loans From Government And Public Authorities
Summary Of Conditional Advances, Banks Loans And Loans [Line Items]
Liabilities arising from financing activities at beginning of period	0	0
Changes in liabilities arising from financing activities [abstract]
Principal received	350	0
Impact of discounting and accretion	(65)	0
Accumulated fixed interest expense accrual	0	0
Accumulated variable interest expense accrual	0	0
Repayment	0	0
Liabilities arising from financing activities at end of period	€ 285	€ 0

Financial liabilities - Summary of Bank Loans (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Jul. 10, 2020

Jun. 30, 2020

Jun. 22, 2020

Summary Of Conditional Advances, Banks Loans And Loans [Line Items]

€ 700

€ 350

€ 3

^[1]

Long-term borrowings

Liabilities arising from financing activities at beginning of period

Changes in liabilities arising from financing activities [abstract]

Financial expenses on liabilities

(Repayment of) principal received

10,000

Impact of discounting and accretion

Accumulated fixed interest expense accrual

Liabilities arising from financing activities at end of period

€ 10,064

PGE Loan, HSBC France

Changes in liabilities arising from financing activities [abstract]

PGE Loan, HSBC France | Long-term borrowings

0.25%

Summary Of Conditional Advances, Banks Loans And Loans [Line Items]

Liabilities arising from financing activities at beginning of period

€ 0

Changes in liabilities arising from financing activities [abstract]

Financial expenses on liabilities

(Repayment of) principal received

5,000

Impact of discounting and accretion

Accumulated fixed interest expense accrual

Liabilities arising from financing activities at end of period

€ 5,020

Changes in liabilities arising from financing activities [abstract]

0.25%

1.61%

PGE Loan, BPI France | Long-term borrowings

1.36%

2.25%

Summary Of Conditional Advances, Banks Loans And Loans [Line Items]

Liabilities arising from financing activities at beginning of period

€ 0

Changes in liabilities arising from financing activities [abstract]

Financial expenses on liabilities

(Repayment of) principal received

5,000

Impact of discounting and accretion

Accumulated fixed interest expense accrual

Liabilities arising from financing activities at end of period

€ 5,044

€ 0

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

Financial liabilities - Summary of Changes in Lease Liabilities (Details) - EUR (€) € in Thousands		12 Months Ended
	Jan. 01, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Conditional Advances, Banks Loans And Loans [Line Items]
Fixed interest expense		€ 333	€ 359	€ 0
Lease liabilities
Summary Of Conditional Advances, Banks Loans And Loans [Line Items]
Liabilities arising from financing activities at beginning of period	€ 0	6,405	0
New lease contracts		521	1,991
Impact of discounting of the new lease contracts		(94)	(399)
Fixed interest expense		333	359
Repayment of lease		(928)	(1,067)
Early termination of lease contracts		(49)	(48)
Liabilities arising from financing activities at end of period		€ 6,188	6,405	0
IFRS 16 impacts \| Lease liabilities
Summary Of Conditional Advances, Banks Loans And Loans [Line Items]
Liabilities arising from financing activities at beginning of period	5,569		€ 5,569
Impact of IFRS 16 first adoption	€ 5,569
Liabilities arising from financing activities at end of period				€ 5,569

Financial liabilities - Summary of Maturity Analysis for Advances Loans and Lease Liabilities (Details) € in Thousands	Dec. 31, 2020 EUR (€)
Less than 1 year
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Lease liabilities	€ 1,197
Total	4,872
Between 1 and 3 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Lease liabilities	2,310
Total	38,925
Between 3 and 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Lease liabilities	2,302
Total	11,673
More than 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Lease liabilities	1,396
Total	3,066
Bpifrance \| Less than 1 year
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	0
Bpifrance \| Between 1 and 3 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	800
Bpifrance \| Between 3 and 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	1,608
Bpifrance \| More than 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	0
Interest-free Bpifrance loan \| Less than 1 year
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	500
Interest-free Bpifrance loan \| Between 1 and 3 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	500
Interest-free Bpifrance loan \| Between 3 and 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	0
Interest-free Bpifrance loan \| More than 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	0
Curadigm interest-free Bpifrance advance \| Less than 1 year
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	0
Curadigm interest-free Bpifrance advance \| Between 1 and 3 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	100
Curadigm interest-free Bpifrance advance \| Between 3 and 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	200
Curadigm interest-free Bpifrance advance \| More than 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	50
HSBC "PGE" \| Less than 1 year
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	30
HSBC "PGE" \| Between 1 and 3 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	1,932
HSBC "PGE" \| Between 3 and 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	2,552
HSBC "PGE" \| More than 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	638
Bpifrance "PGE" \| Less than 1 year
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	112
Bpifrance "PGE" \| Between 1 and 3 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	1,722
Bpifrance "PGE" \| Between 3 and 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	2,620
Bpifrance "PGE" \| More than 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	982
EIB fixed rate loan \| Less than 1 year
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	3,033
EIB fixed rate loan \| Between 1 and 3 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	31,562
EIB fixed rate loan \| Between 3 and 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	2,392
EIB fixed rate loan \| More than 5 years
Summary of Maturity Analysis for Advances Loans and Lease Liabilities [Line Items]
Borrowings	€ 0

Trade payables and other current liabilities - Disclosure of Trade And Other Payables (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Subclassifications of assets, liabilities and equities [abstract]
Accrued expenses - clinical trials	€ 1,532	€ 1,620
Other trade payables	5,574	6,150
Total trade and other payables	€ 7,106	€ 7,770

Trade payables and other current liabilities - Additional Information (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 15, 2020

Jul. 10, 2020

Jun. 18, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

^[1]

Disclosure of Trade Payables and Other Current Liabilities [Line Items]

Initial offering costs

€ 349

Increase in payroll tax and other payroll liabilities

1,300

Payroll tax and other payroll liabilities

6,200

€ 4,900

Sanofi, Gene Therapy Portfolio

10,350

€ 14,000

€ 16,000

Disclosure of Trade Payables and Other Current Liabilities [Line Items]

Deferred income classified as current

100

Sanofi, Gene Therapy Portfolio | Curadigm SAS

1 year

Disclosure of Trade Payables and Other Current Liabilities [Line Items]

Curadigm Bpifrance advance

1 year

Disclosure of Trade Payables and Other Current Liabilities [Line Items]

Deferred income classified as current

162

€ 350

Disclosure of Trade Payables and Other Current Liabilities [Line Items]

Deferred income classified as current

€ 157

Disclosure of disaggregation of revenue from contracts with customers [line items]

€ 5,000

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

Trade payables and other current liabilities - Disclosure of Other Current Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Subclassifications of assets, liabilities and equities [abstract]
Tax liabilities	€ 283	€ 216
Payroll tax and other payroll liabilities	6,248	4,912
Other payables	491	193
Other current liabilities	€ 7,022	€ 5,322	€ 4,350

Financial instruments included in the statement of financial position and impact on income - Schedule of financial assets/liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Total financial assets	€ 119,717	€ 35,634
Total financial assets, at fair value	119,717	35,634
Total financial liabilities	56,085	52,296
Total financial liabilities, at fair value	56,085	52,296
Financial liabilities at amortised cost
Disclosure of detailed information about financial instruments [line items]
Total financial liabilities	56,085	52,296
Non-current financial liabilities
Disclosure of detailed information about financial instruments [line items]
Total financial liabilities	44,107	43,435
Total financial liabilities, at fair value	44,107	43,435
Non-current financial liabilities \| Financial liabilities at amortised cost
Disclosure of detailed information about financial instruments [line items]
Total financial liabilities	44,107	43,435
Current financial liabilities
Disclosure of detailed information about financial instruments [line items]
Total financial liabilities	4,872	1,091
Total financial liabilities, at fair value	4,872	1,091
Current financial liabilities \| Financial liabilities at amortised cost
Disclosure of detailed information about financial instruments [line items]
Total financial liabilities	4,872	1,091
Trade payables and other payables
Disclosure of detailed information about financial instruments [line items]
Total financial liabilities	7,106	7,770
Total financial liabilities, at fair value	7,106	7,770
Trade payables and other payables \| Financial liabilities at amortised cost
Disclosure of detailed information about financial instruments [line items]
Total financial liabilities	7,106	7,770
Non-current financial assets
Disclosure of detailed information about financial instruments [line items]
Total financial assets	505	529
Total financial assets, at fair value	505	529
Trade receivables
Disclosure of detailed information about financial instruments [line items]
Total financial assets	62	11
Total financial assets, at fair value	62	11
Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Total financial assets	119,151	35,094
Total financial assets, at fair value	119,151	35,094
Financial assets carried at fair value through profit or loss
Disclosure of detailed information about financial instruments [line items]
Total financial assets	104	130
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	104	130
Financial assets at amortised cost
Disclosure of detailed information about financial instruments [line items]
Total financial assets	119,613	35,504
Financial assets at amortised cost \| Non-current financial assets
Disclosure of detailed information about financial instruments [line items]
Total financial assets	401	399
Financial assets at amortised cost \| Trade receivables
Disclosure of detailed information about financial instruments [line items]
Total financial assets	62	11
Financial assets at amortised cost \| Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Total financial assets	€ 119,151	€ 35,094

Financial instruments included in the statement of financial position and impact on income - Impact on PL (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Cost of gross debt	€ (1,721)
Cost of gross debt		€ 1,354
Income from cash equivalents	0	105
Total fair value through profit or loss	€ (1,721)	€ 1,459

Financial instruments included in the statement of financial position and impact on income - Additional Information (Details) € in Thousands, $ in Millions	1 Months Ended		12 Months Ended				36 Months Ended
	Dec. 31, 2020 EUR (€)	Jul. 31, 2018 EUR (€) tranche	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 EUR (€)	Dec. 31, 2018 EUR (€) tranche	Dec. 31, 2020 tranche
Disclosure Of Detailed Information About Financial Liabilities [Line Items]
Net foreign exchange loss \| €			€ 1,697		€ 176	€ 602
Proceeds from issuing shares	€ 113,300		€ 72,000	$ 113.3
EIB fixed rate loan
Disclosure Of Detailed Information About Financial Liabilities [Line Items]
Number of tranches \| tranche		3				3
Number of tranches received \| tranche							2
EIB fixed rate loan \| Top of range
Disclosure Of Detailed Information About Financial Liabilities [Line Items]
Notional amount \| €		€ 40,000				€ 40,000

Financial instruments included in the statement of financial position and impact on income - Exchange rate sensitivity (Details) - Currency risk - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Change in net income due to 10% increase in exchange rate	€ 5	€ 41
Change in net income due to a 10% decrease in exchange rate	(5)	(41)
Change in equity due to a 10% increase in exchange rate	124	141
Change in equity due to a decrease of 10% in exchange rate	(124)	(141)
USD / Euro exchange rate
Disclosure of detailed information about financial instruments [line items]
Change in net income due to 10% increase in exchange rate	5	41
Change in net income due to a 10% decrease in exchange rate	(5)	(41)
Change in equity due to a 10% increase in exchange rate	124	141
Change in equity due to a decrease of 10% in exchange rate	€ (124)	€ (141)

Revenues and other income - Additional Information (Details)
€ in Thousands, $ in Millions

12 Months Ended

Dec. 15, 2020

EUR (€)

Dec. 31, 2020

EUR (€)

Dec. 31, 2019

EUR (€)

Dec. 31, 2018

EUR (€)

Dec. 31, 2016

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2012

USD ($)

Jul. 10, 2020

EUR (€)

Jun. 30, 2020

EUR (€)

Research tax credit utilization period

3 years

€ 50

€ 68

€ 116

^[1]

Percentage of employees' net wages received via subsidies from French government

€ 526

€ 20

€ 90

84.00%

Disclosure of disaggregation of revenue from contracts with customers [line items]

€ 187

Disclosure of disaggregation of revenue from contracts with customers [line items]

350

€ 5,000

FRANCE

Disclosure of disaggregation of revenue from contracts with customers [line items]

€ 312

PharmaEngine, NBTWR3

Upfront payment received | $

$ 1.0

Development milestones payments received | $

$ 1.0

PharmaEngine, NBTWR3 | Revenue By Type

Disclosure of disaggregation of revenue from contracts with customers [line items]

Concentration risk percentage

100.00%

PharmaEngine, NBTWR3 | Minimum | Revenue By Type

Disclosure of disaggregation of revenue from contracts with customers [line items]

Concentration risk percentage

90.00%

Sanofi, Gene Therapy Portfolio

Disclosure of disaggregation of revenue from contracts with customers [line items]

Upfront payment received

€ 100

Disclosure of disaggregation of revenue from contracts with customers [line items]

1 year

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

Revenues and other income - Schedule of revenues (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

€ 50

€ 68

€ 116

^[1]

Research tax credit

1,927

2,437

3,251

Total revenues and other income

526

Other

Other income

2,462

2,473

3,363

^[1]

2,512

2,541

3,479

^[1]

Services

Disclosure of disaggregation of revenue from contracts with customers [line items]

Disclosure of disaggregation of revenue from contracts with customers [line items]

109

Other sales

€ 0

€ 28

€ 7

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

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
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-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_28_a&doctype=Standard
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
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-Subparagraph a
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_32&doctype=Standard
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-URIDate 2020-01-01

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_34&doctype=Standard
-URIDate 2020-01-01

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2020-en-r&anchor=para_33_b_i&doctype=Standard
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2020-01-01

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2020-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
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+ Details

Operating Expenses - Research and development (Details)
€ in Thousands

12 Months Ended

Dec. 31, 2020

EUR (€)

employee

Dec. 31, 2019

EUR (€)

employee

Dec. 31, 2018

EUR (€)

employee

Purchases, sub-contracting and other expenses

€ (12,734)

€ (16,804)

€ (11,358)

Payroll costs (including share-based payments)

(10,306)

(11,980)

(9,002)

Depreciation, amortization, and provision expenses

(1,290)

(1,627)

(534)

Research and development expenses

(24,330)

€ (30,411)

€ (20,893)

^[1]

Decrease in employee benefit expense

€ 1,674

% Decrease In employee benefit expense

14.00%

110

102

€ 2,924

€ 4,320

€ 1,867

R&D

Decrease in purchases, sub-contracting and other expenses

€ 4,100

% Decrease in purchases, sub-contracting and other expenses

24.00%

€ 629

€ 902

€ 347

Research and development

Increase (decrease) in number of employees | employee

(15)

[1]	The Company applied the new standard IFRS 16 – Leases starting January 1, 2019 following the modified retrospective method, the comparative financial statements are therefore not restated (see Note 2.1 for further details on the impacts of the first application of IFRS 16 – Leases)

Operating expenses - SG&A expenses (Details)
€ in Thousands

12 Months Ended

24 Months Ended

Jul. 28, 2020

EUR (€)

Dec. 31, 2020

EUR (€)

employee

factor

Dec. 31, 2019

EUR (€)

employee

Dec. 31, 2018

EUR (€)

employee

Dec. 31, 2019

EUR (€)

employee

Purchases, fees and other expenses

€ (6,482)

€ (9,435)

€ (5,918)

Payroll costs (including share-based payments)

(7,789)

(9,205)

(6,701)

Depreciation, amortization and provision expenses

(340)

(270)

(35)

Total SG&A expenses

€ (14,611)

(18,909)

(12,653)

^[1]

Number of impacts | factor

Share issue related cost

€ 1,387

€ 10,700

€ (1,030)

€ 1,030

Decrease in employee benefit expense

€ 1,674

% Decrease In employee benefit expense

14.00%

110

102

110

Selling, general and administrative expense

€ 2,924

€ 4,320

€ 1,867

Increase (decrease) in rent, fees, and other expenses

€ (2,816)

3,500

% Decrease in rent, fees, and other expenses

30.00%

Share issue related cost

€ 1,030

507

€ 1,000

€ 1,500

Consulting fees

500

Recruitment fees

400

Communication expense

400

Legal fees

€ 300

Decrease in employee benefit expense

€ 1,400

% Decrease In employee benefit expense

15.00%

Increase in number of employees | employee