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Collaboration partner, Gilead Sciences, to begin Phase 1 single ascending dose (SAD) and multiple ascending dose (MAD) study in healthy volunteers in Q2 2025 GS-6791/NX-0479 has potential clinical applications across multiple blockbuster markets in inflammation, in both rheumatology and dermatology, including rheumatoid arthritis and atopic dermatitis Nurix to receive a $5 million milestone payment from Gilead for FDA clearance of the IND, bringing the total amount received under the 2019 collaboration agre ...

Core Insights - Nurix Therapeutics, Inc. (NRIX) reported a quarterly loss of $0.67 per share, better than the Zacks Consensus Estimate of a loss of $0.72, and an improvement from a loss of $0.76 per share a year ago, resulting in an earnings surprise of 6.94% [1] - The company generated revenues of $18.45 million for the quarter ended February 2025, exceeding the Zacks Consensus Estimate by 26.41%, compared to $16.59 million in the same quarter last year [2] - Nurix Therapeutics shares have declined approximately 48.4% year-to-date, contrasting with the S&P 500's decline of 13.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.74 on revenues of $14.87 million, and for the current fiscal year, it is -$3.06 on revenues of $61.09 million [7] - The estimate revisions trend for Nurix Therapeutics is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Nurix Therapeutics belongs, is currently ranked in the top 35% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ______________________________________________________________________ FORM 10-Q ______________________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fr ...

Revenue Performance - Revenue for Q1 2025 was $18.5 million, up from $16.6 million in Q1 2024, primarily due to increased collaboration revenue with Sanofi[12] - Total revenue for the three months ended February 28, 2025, was $18,453,000, an increase of 11.2% compared to $16,585,000 for the same period in 2024[20] - Collaboration revenue for the period was $18,453,000, consistent with total revenue, indicating no additional revenue streams reported[20] Research and Development - Nurix achieved $7 million in research milestones from Sanofi during Q1 2025 and received a $15 million license extension payment post-quarter[12] - Research and development expenses for Q1 2025 were $69.7 million, compared to $50 million in Q1 2024, driven by clinical and manufacturing costs[13] - Research and development expenses rose significantly to $69,663,000, up from $50,005,000, reflecting a 39.4% increase year-over-year[20] - The company is advancing multiple clinical trials for its drug candidates, including NX-2127 and NX-1607, with updates expected in 2025[6][8] - Nurix plans to initiate pivotal trials for bexobrutideg in chronic lymphocytic leukemia (CLL) in 2025[3] Financial Performance - Net loss for Q1 2025 was $56.4 million, or $0.67 per share, compared to a net loss of $41.5 million, or $0.76 per share, in Q1 2024[14] - Net loss for the period was $56,351,000, compared to a net loss of $41,518,000 in the prior year, indicating a deterioration in financial performance[20] - Net loss per share, basic and diluted, improved slightly to $(0.67) from $(0.76) year-over-year[20] - Accumulated deficit increased to $(795,120,000) from $(738,769,000), indicating a worsening financial position[22] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $549.7 million as of February 28, 2025, down from $609.6 million as of November 30, 2024[15] - Total current assets decreased to $563,703,000 from $619,387,000, a decline of 9.0%[22] - Cash and cash equivalents decreased to $75,916,000 from $109,997,000, representing a decline of 30.9%[22] - Total stockholders' equity decreased to $480,917,000 from $526,993,000, a decline of 8.7%[22] Collaborations and Leadership - Nurix continues to collaborate with Gilead, Sanofi, and Pfizer, expecting to achieve substantial research collaboration milestones[11] - Nurix appointed Roy D. Baynes to its board and John Northcott as chief commercial officer to enhance leadership[5] Regulatory Developments - Bexobrutideg received U.S. FDA Orphan Drug Designation for the treatment of Waldenström macroglobulinemia, providing benefits such as tax credits and market exclusivity[4]

Core Insights - Nurix Therapeutics has achieved significant milestones in its clinical development, particularly with the drug bexobrutideg, which has received FDA Orphan Drug Designation for Waldenström macroglobulinemia [4][10] - The company reported a revenue increase to $18.5 million for the fiscal quarter ended February 28, 2025, compared to $16.6 million in the same period the previous year, driven by collaboration with Sanofi [10][11] - Nurix has strengthened its leadership team with key appointments, including Roy D. Baynes to the Board and John Northcott as chief commercial officer, to support its clinical programs [4][5] Company Developments - Bexobrutideg, previously known as NX-5948, is an oral, brain-penetrant BTK degrader, with pivotal trials expected to start in 2025 for chronic lymphocytic leukemia [3][5] - The company has a robust pipeline, including ongoing trials for NX-2127 and NX-1607, targeting various B-cell malignancies and solid tumors, respectively [6][7] - Nurix's cash and marketable securities totaled $549.7 million as of February 28, 2025, indicating strong financial health to support ongoing and future clinical trials [14][19] Financial Performance - Research and development expenses increased to $69.7 million for the three months ended February 28, 2025, compared to $50.0 million for the same period in 2024, reflecting accelerated clinical activities [11][12] - The net loss for the quarter was $56.4 million, or $0.67 per share, compared to a net loss of $41.5 million, or $0.76 per share, in the prior year [13][18] - The company achieved $7 million in research milestones from its collaboration with Sanofi and received a $15 million license extension payment post-quarter end [10][14]

Nurix Therapeutics (NRIX) shares rose 8.7% on Wednesday after the company announced that Sanofi (SNY) has in-licensed exclusive rights to an undisclosed Nurix program aimed at a previously untreatable transcription factor for autoimmune diseases. This undisclosed target plays a key role in regulating inflammation and is separate from the previously revealed STAT6 degrader program, signed between the companies in 2019. The stock is gaining further in the pre-market hours on Thursday.Nurix and Sanofi first es ...

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Nurix Therapeutics, Inc. despite lower revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The upcoming earnings report is expected to show a quarterly loss of $0.74 per share, reflecting a year-over-year change of +2.6%, while revenues are projected to be $13.17 million, down 20.6% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised 3.94% lower in the last 30 days, indicating a reassessment by analysts regarding the company's earnings prospects [4][10]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -20.47%, which indicates a bearish outlook [10][11]. Historical Performance - Nurix Therapeutics has only beaten consensus EPS estimates once in the last four quarters, with a recent surprise of -11.94% when it reported a loss of $0.75 per share against an expected loss of $0.67 [12][13]. Conclusion - The combination of a negative Earnings ESP and a Zacks Rank of 3 makes it challenging to predict a positive earnings surprise for Nurix Therapeutics, suggesting that the stock may not be a compelling candidate for an earnings beat [11][16].

Core Insights - Nurix Therapeutics has announced an exclusive licensing agreement with Sanofi for a previously undruggable transcription factor targeting autoimmune diseases, which is a central regulator of inflammation [1][2] - The collaboration has generated a total of $105 million in payments to Nurix, with the potential for an additional $465 million in development, regulatory, and commercial milestones, along with future royalties [1][2] - Nurix's DEL-AI drug discovery platform has successfully identified novel agents for this target, enhancing the drug discovery pipeline for autoimmune diseases [2] Company Overview - Nurix Therapeutics is a clinical-stage biopharmaceutical company focused on targeted protein degradation medicines, aiming to improve treatment options for cancer and inflammatory diseases [3][4] - The company's pipeline includes degraders of Bruton's tyrosine kinase (BTK) and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), as well as multiple preclinical programs [3][4] - Nurix has received a total of $460 million from various partners, including the $105 million from the Sanofi collaboration, which is crucial for expanding its drug discovery pipeline [2][3]

SAN FRANCISCO, March 25, 2025 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, today announced that company scientists will present preclinical data from its proprietary DEL-AI platform and several degrader programs in two oral presentations and two poster presentations at the American Association for Cancer Research (AACR) 2025 Annual Meeting, which w ...