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    Lucy Codrington

    Research Analyst at Jefferies

    Lucy Codrington is an Equity Analyst at Jefferies Financial Group Inc., specializing in biopharmaceuticals and healthcare sector research. She provides coverage on companies such as Zealand Pharma and Inventiva Pharma, regularly issuing performance-based recommendations and maintaining price targets on these stocks. Since joining Jefferies in January 2016, Codrington has built a robust track record in healthcare equity analysis, having started her financial career as a mining analyst before transitioning to healthcare and biopharma specialties. She holds industry-recognized credentials and is noted for her deep sector knowledge, distinguished research insights, and active contribution to firmwide stock selection and investment strategy.

    Lucy Codrington's questions to Nanobiotix (NBTX) leadership

    Lucy Codrington's questions to Nanobiotix (NBTX) leadership • Q1 2024

    Question

    Inquired about the timing and financial implications of the NANORAY-312 sponsorship transfer to J&J, the company's confidence in the H1 2026 recruitment timeline, and how funding for new indications would be managed.

    Answer

    The sponsorship transfer is in its early stages but is intended to be completed well before the interim readout. The financial impact is currently considered neutral. The company has high confidence in meeting the H1 2026 recruitment completion target, which is a conservative estimate. The interim readout is expected to occur almost concomitantly with the last patient in. Starting a new trial for a new indication will depend on freeing up team bandwidth after the transfer is complete and securing additional funding.

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