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Clément Bassat

Director and Equity Research Analyst at Stifel Financial Corp.

Clément Bassat is a Director and Equity Research Analyst at Stifel, specializing in European Industrials and Business Services. He covers a targeted roster of major European companies within the sector, including names such as Adecco Group, Randstad, PageGroup, and Hays, producing sector-leading analysis and actionable investment recommendations. Bassat began his equity research career after several years in related financial roles and joined Stifel in 2021, following prior experience at Kepler Cheuvreux where he built his expertise in equity coverage. He holds professional credentials in line with European regulatory requirements, including completion of the CFA Level II exam, and is registered with the UK’s Financial Conduct Authority.

Clément Bassat's questions to Nanobiotix (NBTX) leadership

Question · Q3 2023

Asked for details on the comparability of patient baselines in the pancreatic cancer study, specifics on the CA19-9 biomarker reduction, clarification on the EIB loan repayment terms, and the reason for a slight delay in the lung cancer study's RP2D readout.

Answer

The pancreatic cancer patient populations are comparable (locally advanced), with the NBTXR3 arm showing a much higher rate of CA19-9 normalization (42% vs 17%) and better median OS. The EIB payment is part of a new mechanism for accelerated access to a previously restructured milestone. The lung cancer RP2D delay is minor and procedural, related to the safety follow-up period, not enrollment issues.

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