Group 1 - The article is authored by Terry Chrisomalis, who operates the Biotech Analysis Central pharmaceutical service on Seeking Alpha Marketplace, offering a two-week free trial for new subscribers [1] - Biotech Analysis Central provides a library of over 600 biotech investing articles, a model portfolio of more than 10 small and mid-cap stocks, and various analysis and news reports to assist healthcare investors [2] Group 2 - The service is priced at $49 per month, with a 33.50% discount available for annual subscriptions, bringing the yearly cost to $399 [1]

Summary of Key Points Core Viewpoint - U.S. stock futures showed slight gains, while several companies reported disappointing financial results leading to significant pre-market trading declines in their shares [1][4]. Company-Specific Summaries - **Nurix Therapeutics Inc (NASDAQ:NRIX)**: - Reported a quarterly loss of $1.03 per share, worse than the expected loss of $0.88 per share - Sales were $7.894 million, missing expectations of $16.736 million - Shares fell 5.8% to $10.24 in pre-market trading [1][2]. - **Venture Global, Inc. (NYSE:VG)**: - Shares dipped 18.4% to $10.27 following a resolution related to an arbitration proceeding concerning the Calcasieu Pass facility [4]. - **Orthopediatrics Corp (NASDAQ:KIDS)**: - Shares fell 15% to $15.25 after the company cut its FY25 revenue guidance [4]. - **Inventiva S.A. (NYSE:IVA)**: - Shares declined 13.6% to $4.78 in pre-market trading [4]. - **USANA Health Sciences Inc (NYSE:USNA)**: - Shares declined 13% to $22.83 after reporting preliminary results for the third quarter, with an adjusted loss of $0.15 per share and sales of $214 million [4]. - **Nanobiotix S.A. (NASDAQ:NBTX)**: - Shares declined 8.1% to $27.48 after a previous gain of 10% [4]. - **Diginex Limited (NASDAQ:DGNX)**: - Shares fell 7.6% to $29.00 in pre-market trading [4]. - **Levi Strauss & Co (NYSE:LEVI)**: - Reported quarterly earnings of $0.34 per share, beating the analyst consensus estimate of $0.31 per share - Quarterly sales were $1.543 billion, exceeding the analyst consensus estimate of $1.501 billion - Shares tumbled 7.1% to $22.81 in pre-market trading [4].

Company Performance - Apogee Enterprises Inc. reported better-than-expected second-quarter financial results, with shares gaining 1.4% to $42.00 in after-hours trading [2] - Levi Strauss & Co. reported third-quarter earnings of 34 cents per share, exceeding the analyst consensus estimate of 31 cents per share, and quarterly sales of $1.543 billion, surpassing the estimate of $1.501 billion; however, shares fell 7.7% to $22.65 in after-hours trading [2] - VolitionRX Ltd. announced a public offering of common stock and common stock warrants, leading to a 20% dip in shares to $0.48 in after-hours trading [2] - USANA Health Sciences Inc. reported preliminary third-quarter results with an adjusted loss of 15 cents per share and sales of $214.00 million, resulting in an 11.4% decline in shares to $23.26 in after-hours trading [2] - Nurix Therapeutics Inc. reported worse-than-expected third-quarter financial results, causing shares to fall 5.7% to $10.24 in after-hours trading [2]

分组1 - Nurix Therapeutics reported a quarterly loss of $1.03 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.84, and a decline from a loss of $0.67 per share a year ago, indicating an earnings surprise of -22.62% [1] - The company posted revenues of $7.89 million for the quarter ended August 2025, missing the Zacks Consensus Estimate by 57.71%, and a decrease from year-ago revenues of $12.59 million [2] - The stock has underperformed significantly, losing about 47% since the beginning of the year compared to the S&P 500's gain of 14.8% [3] 分组2 - The current consensus EPS estimate for the coming quarter is -$0.91 on revenues of $12.6 million, and for the current fiscal year, it is -$2.95 on revenues of $87.54 million [7] - The Medical - Biomedical and Genetics industry, to which Nurix Therapeutics belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [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 August 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

[Company Overview & Q3 FY2025 Highlights](index=1&type=section&id=Company%20Overview%20%26%20Q3%202025%20Highlights) Nurix Therapeutics reports Q3 FY2025 financial results and clinical program advancements, preparing for bexobrutideg pivotal trials and showcasing strong preclinical data for GS-6791 [Q3 FY2025 Key Updates](index=1&type=section&id=Q3%202025%20Key%20Updates) Nurix Therapeutics announced Q3 FY2025 financial results, highlighting significant progress in clinical programs and strategic collaborations - Nurix Therapeutics is preparing to initiate pivotal trials for bexobrutideg in relapsed/refractory CLL patients in H2 2025, including a single-arm study for potential accelerated approval and a confirmatory randomized controlled Phase 3 study for full approval[1](index=1&type=chunk)[3](index=3&type=chunk) - Preclinical data for the IRAK4 degrader GS-6791 (NX-0479), in collaboration with Gilead, demonstrated potent pathway inhibition and efficacy in dermatitis models[1](index=1&type=chunk)[4](index=4&type=chunk) - As of August 31, 2025, the company held **$428.8 million** in cash and marketable securities, indicating a strong capital position[1](index=1&type=chunk)[13](index=13&type=chunk) [Recent Business and Clinical Development Highlights](index=1&type=section&id=Recent%20Business%20and%20Clinical%20Development%20Highlights) Nurix provides updates on bexobrutideg clinical development plans, including pivotal trials for CLL, and preclinical data for the IRAK4 degrader GS-6791 [Bexobrutideg Clinical Development Plans](index=1&type=section&id=Bexobrutideg%20Clinical%20Development%20Plans) Nurix outlined pivotal trial plans for bexobrutideg in relapsed/refractory CLL, including single-arm and randomized Phase 3 studies, with Phase 1a data showing high ORR and good tolerability - Nurix plans to initiate a single-arm study for bexobrutideg in relapsed/refractory CLL patients in H2 2025, aiming for accelerated approval[4](index=4&type=chunk) - The company also described the design of a randomized controlled Phase 3 trial comparing bexobrutideg to investigator's choice comparators, including bendamustine and rituximab, idelalisib and rituximab, or pirtobrutinib[4](index=4&type=chunk) [Bexobrutideg in Relapsed/Refractory CLL](index=1&type=section&id=Bexobrutideg%20in%20Relapsed%2FRefractory%20CLL) Phase 1a data for bexobrutideg in CLL patients showed an 80.9% objective response rate, rapid and durable responses, and good tolerability - Phase 1a data for bexobrutideg, presented at SOHO 2025, showed an **objective response rate (ORR) of 80.9%** in 47 evaluable patients, including one complete response[4](index=4&type=chunk) - Responses were rapid, with a median time to first response of **1.9 months**, deepening with continued treatment, and durable activity was observed in high-risk subgroups including TP53, PLCG2, and BTK mutations, and CNS involvement[4](index=4&type=chunk) - Bexobrutideg was well-tolerated, with no dose-limiting toxicities and no new onset atrial fibrillation or flutter[4](index=4&type=chunk) [Bexobrutideg in Waldenström Macroglobulinemia (WM)](index=1&type=section&id=Bexobrutideg%20in%20Waldenstr%C3%B6m%20Macroglobulinemia%20%28WM%29) Phase 1 data for bexobrutideg in WM patients demonstrated an 84.2% objective response rate, rapid and durable responses, and good tolerability - Phase 1 data for bexobrutideg, presented at SOHO 2025, showed an **objective response rate (ORR) of 84.2%** in 19 evaluable patients, with responses observed in both MYD88 and CXCR4 mutated patients[4](index=4&type=chunk) - Responses were rapid, durable, and associated with deep reductions in serum IgM levels[4](index=4&type=chunk) - Bexobrutideg was well-tolerated, with a safety profile consistent with previous reports, no dose-limiting toxicities, and no atrial fibrillation[4](index=4&type=chunk) [GS-6791 (IRAK4 Degrader) Preclinical Data](index=1&type=section&id=GS-6791%20%28IRAK4%20Degrader%29%20Preclinical%20Data) Nurix and Gilead presented preclinical data for GS-6791, a novel oral IRAK4 degrader, showing potent degradation, pathway inhibition, and efficacy in dermatitis models - At EADV 2025, Nurix and Gilead presented preclinical findings for GS-6791, a novel, selective oral IRAK4 degrader[4](index=4&type=chunk) - Data showed GS-6791 effectively degraded IRAK4 in immune and epithelial cells, blocking IL-1 and IL-36 signaling pathways associated with autoimmune and inflammatory diseases[4](index=4&type=chunk) - In vivo studies demonstrated GS-6791 inhibited cytokine production and improved disease metrics in a mouse dermatitis model[4](index=4&type=chunk) [Upcoming Program Milestones](index=2&type=section&id=Upcoming%20Program%20Milestones) Nurix outlines future development plans for bexobrutideg, zelebrudomide, NX-1607, and strategic collaboration pipeline advancements [Bexobrutideg Future Development](index=2&type=section&id=Bexobrutideg%20Future%20Development) Nurix plans to initiate pivotal trials for bexobrutideg in CLL in H2 2025, recruit Phase 1b cohorts for CLL and autoimmune hemolytic anemia, and conduct healthy volunteer studies for a potential 2026 autoimmune IND - Nurix expects to provide additional clinical updates for bexobrutideg and remains on track to initiate pivotal trials for bexobrutideg in CLL in H2 2025[5](index=5&type=chunk) - To support future development of bexobrutideg in autoimmune and inflammatory diseases, Nurix is recruiting Phase 1b cohorts for patients with CLL and autoimmune hemolytic anemia[5](index=5&type=chunk) - The company is conducting necessary Phase 1 healthy volunteer studies to support a potential autoimmune IND application in 2026[5](index=5&type=chunk) [Zelebrudomide Development](index=2&type=section&id=Zelebrudomide%20Development) Zelebrudomide, an oral BTK and cereblon new substrate degrader, is in Phase 1a/1b clinical trials for relapsed or refractory B-cell malignancies, with ongoing dose-escalation studies - Zelebrudomide is an orally bioavailable degrader of BTK and cereblon new substrates IKZF1 (Ikaros) and IKZF3 (Aiolos), designed to treat relapsed or refractory B-cell malignancies[6](index=6&type=chunk) - Nurix is conducting a Phase 1a/1b clinical trial, including a Phase 1b expansion cohort focused on patients with diffuse large B-cell lymphoma and mantle cell lymphoma[6](index=6&type=chunk) - The company is enrolling patients in dose-escalation studies using chirally controlled drug product in the current Phase 1a/1b trial[6](index=6&type=chunk) [NX-1607 Development](index=2&type=section&id=NX-1607%20Development) NX-1607, an oral CBL-B E3 ligase inhibitor, is in Phase 1 trials for immuno-oncology indications, including solid tumors and lymphomas, to fully investigate dosing and regimens - NX-1607 is an oral inhibitor of CBL-B E3 ligase, being developed for immuno-oncology indications, including various solid tumors and lymphomas[7](index=7&type=chunk) - Nurix is conducting an ongoing adult Phase 1 trial for NX-1607, which includes a comprehensive investigation of dosing and regimens in the Phase 1a portion[7](index=7&type=chunk) [Strategic Collaborations Pipeline Advancement](index=2&type=section&id=Strategic%20Collaborations%20Pipeline%20Advancement) Nurix and Sanofi continue IND-enabling studies for STAT6 degrader NX-3911, expecting ongoing research collaboration milestones with Gilead, Sanofi, and Pfizer - Nurix and Sanofi continue to advance IND-enabling studies for the STAT6 degrader NX-3911, with updates expected in the future[8](index=8&type=chunk) - Nurix anticipates achieving ongoing significant research collaboration milestones under its agreements with Gilead, Sanofi, and Pfizer[8](index=8&type=chunk) [Fiscal Third Quarter 2025 Financial Results](index=2&type=section&id=Fiscal%20Third%20Quarter%202025%20Financial%20Results) Nurix Therapeutics reports its financial performance for Q3 FY2025, detailing revenue, operating expenses, net loss, and cash position [Revenue Analysis](index=2&type=section&id=Revenue%20Analysis) Q3 FY2025 revenue decreased to $7.9 million from $12.6 million in the prior year, primarily due to the conclusion of a Sanofi collaboration, partially offset by increased Pfizer collaboration completion Revenue Overview | Metric | Three Months Ended August 31, 2025 (million USD) | Three Months Ended August 31, 2024 (million USD) | | :--- | :---: | :---: | | Collaboration revenue | 7.9 | 12.6 | | **Total Revenue** | **7.9** | **12.6** | - Revenue decreased due to the conclusion of a research term with Sanofi[10](index=10&type=chunk) - The decrease in revenue was partially offset by a higher percentage of completion for performance obligations under the collaboration with Pfizer[10](index=10&type=chunk) [Operating Expenses Analysis](index=2&type=section&id=Operating%20Expenses%20Analysis) Total operating expenses for Q3 FY2025 significantly increased to $99.2 million from $67.2 million in the prior year, driven by higher R&D and G&A expenses Operating Expenses Summary | Metric | Three Months Ended August 31, 2025 (million USD) | Three Months Ended August 31, 2024 (million USD) | | :--- | :---: | :---: | | Research and development | 86.1 | 55.5 | | General and administrative | 13.2 | 11.7 | | **Total Operating Expenses** | **99.3** | **67.2** | [Research and Development Expenses](index=2&type=section&id=Research%20and%20Development%20Expenses) R&D expenses increased to $86.1 million, primarily due to higher clinical, contract manufacturing, and consulting costs as Nurix accelerates trial enrollment and prepares for pivotal studies R&D Expenses | Metric | Three Months Ended August 31, 2025 (million USD) | Three Months Ended August 31, 2024 (million USD) | | :--- | :---: | :---: | | Research and development expenses | 86.1 | 55.5 | | **Year-over-year growth** | **55.1%** | | - The increase in R&D expenses was primarily related to clinical, contract manufacturing, and consulting costs as Nurix continues to accelerate patient enrollment in ongoing bexobrutideg trials and prepares for pivotal trial initiation[11](index=11&type=chunk) [General and Administrative Expenses](index=2&type=section&id=General%20and%20Administrative%20Expenses) G&A expenses increased to $13.2 million, mainly due to higher compensation and related personnel costs G&A Expenses | Metric | Three Months Ended August 31, 2025 (million USD) | Three Months Ended August 31, 2024 (million USD) | | :--- | :---: | :---: | | General and administrative expenses | 13.2 | 11.7 | | **Year-over-year growth** | **12.8%** | | - The increase in G&A expenses was primarily due to higher compensation and related personnel costs[12](index=12&type=chunk) [Net Loss and EPS](index=2&type=section&id=Net%20Loss%20and%20EPS) Net loss for Q3 FY2025 expanded to $86.4 million, or $1.03 per share, compared to a net loss of $49.0 million, or $0.67 per share, in the prior year Net Loss and EPS Summary | Metric | Three Months Ended August 31, 2025 (million USD) | Three Months Ended August 31, 2024 (million USD) | | :--- | :---: | :---: | | Net loss | (86.4) | (49.0) | | Net loss per share | (1.03) | (0.67) | [Cash Position](index=2&type=section&id=Cash%20Position) Cash, cash equivalents, and marketable securities totaled $428.8 million as of August 31, 2025, down from $609.6 million as of November 30, 2024 Cash, Cash Equivalents, and Marketable Securities | Metric | August 31, 2025 (million USD) | November 30, 2024 (million USD) | | :--- | :---: | :---: | | Cash, cash equivalents, and marketable securities | 428.8 | 609.6 | [About Nurix Therapeutics, Inc.](index=3&type=section&id=About%20Nurix%20Therapeutics%2C%20Inc.) Nurix Therapeutics is a clinical-stage biopharmaceutical company focused on targeted protein degradation for cancer and inflammatory diseases, leveraging its AI-integrated discovery engine and E3 ligase expertise [Company Profile](index=3&type=section&id=Company%20Profile) Nurix Therapeutics is a clinical-stage biopharmaceutical company dedicated to discovering, developing, and commercializing targeted protein degradation drugs to improve treatment options for cancer and inflammatory diseases - Nurix Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted protein degradation drugs to improve treatment options for patients with cancer and inflammatory diseases[14](index=14&type=chunk) - The company has an internal clinical-stage pipeline, including BTK degraders and CBL-B inhibitors, and strategic collaborations with Gilead, Sanofi, and Pfizer for preclinical and clinical-stage degrader programs[14](index=14&type=chunk) - Nurix leverages its fully AI-integrated discovery engine and E3 ligase expertise to translate targeted protein degradation science into clinical advancements, aiming to make degrader therapies a forefront of patient care[14](index=14&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) This section presents Nurix Therapeutics' condensed statements of operations and balance sheets for the specified periods [Condensed Statements of Operations](index=5&type=section&id=Condensed%20Statements%20of%20Operations) This section provides Nurix Therapeutics' condensed statements of operations for the three and nine months ended August 31, 2025, detailing key financial metrics like revenue, operating expenses, net loss, and EPS Condensed Statements of Operations | | Three Months Ended | | Nine Months Ended | | | :--- | :---: | :---: | :---: | :---: | | | August 31, 2025 (thousand USD) | August 31, 2024 (thousand USD) | August 31, 2025 (thousand USD) | August 31, 2024 (thousand USD) | | **Revenue:** | | | | | | Collaboration revenue | $ 7,894 | $ 12,588 | $ 40,403 | $ 41,265 | | License revenue | — | — | 30,000 | — | | **Total revenue** | **7,894** | **12,588** | **70,403** | **41,265** | | **Operating expenses:** | | | | | | Research and development | 86,120 | 55,481 | 233,879 | 154,408 | | General and administrative | 13,159 | 11,718 | 39,095 | 35,227 | | **Total operating expenses** | **99,279** | **67,199** | **272,974** | **189,635** | | **Loss from operations** | **(91,385)** | **(54,611)** | **(202,571)** | **(148,370)** | | Interest and other income, net | 4,964 | 5,737 | 17,095 | 13,612 | | Loss before income taxes | (86,421) | (48,874) | (185,476) | (134,758) | | Provision for income taxes | — | 82 | 760 | 262 | | **Net loss** | **$ (86,421)** | **$ (48,956)** | **$ (186,236)** | **$ (135,020)** | | **Net loss per share, basic and diluted** | **$ (1.03)** | **$ (0.67)** | **$ (2.22)** | **$ (2.13)** | | Weighted-average number of shares outstanding, basic and diluted | 84,159,336 | 72,779,381 | 83,869,469 | 63,384,174 | [Condensed Balance Sheets](index=6&type=section&id=Condensed%20Balance%20Sheets) This section presents Nurix Therapeutics' condensed balance sheets as of August 31, 2025, and November 30, 2024, outlining assets, liabilities, and stockholders' equity Condensed Balance Sheets | | | August 31, 2025 (thousand USD) | | November 30, 2024 (thousand USD) | | :--- | :--- | :---: | :--- | :---: | | **Assets** | | | | | | Current assets: | | | | | | Cash and cash equivalents | $ | 78,438 | $ | 109,997 | | Marketable securities | | 350,391 | | 499,586 | | Prepaid expenses and other current assets | | 11,774 | | 9,804 | | **Total current assets** | | **440,603** | | **619,387** | | Operating lease right-of-use assets | | 53,028 | | 28,139 | | Property and equipment, net | | 20,498 | | 17,757 | | Restricted cash | | 968 | | 901 | | Other assets | | 7,375 | | 3,159 | | **Total assets** | **$** | **522,472** | **$** | **669,343** | | **Liabilities and stockholders' equity** | | | | | | Current liabilities: | | | | | | Accounts payable | $ | 8,609 | $ | 11,482 | | Accrued expenses and other current liabilities | | 43,957 | | 37,994 | | Operating lease liabilities, current | | 3,791 | | 8,014 | | Deferred revenue, current | | 25,993 | | 38,364 | | **Total current liabilities** | | **82,350** | | **95,854** | | Operating lease liabilities, net of current portion | | 52,695 | | 20,289 | | Deferred revenue, net of current portion | | 15,175 | | 26,207 | | **Total liabilities** | | **150,220** | | **142,350** | | **Stockholders' equity:** | | | | | | Common stock | | 77 | | 76 | | Additional paid-in-capital | | 1,297,061 | | 1,265,536 | | Accumulated other comprehensive income | | 119 | | 150 | | Accumulated deficit | | (925,005) | | (738,769) | | **Total stockholders' equity** | | **372,252** | | **526,993** | | **Total liabilities and stockholders' equity** | **$** | **522,472** | **$** | **669,343** | [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section contains forward-looking statements regarding future events and expectations, subject to risks and uncertainties that may cause actual results to differ materially [Disclaimer](index=3&type=section&id=Disclaimer) This press release contains forward-looking statements subject to risks and uncertainties, and Nurix disclaims any obligation to publicly update them unless required by law - This press release contains forward-looking statements regarding future events and expectations, subject to the Private Securities Litigation Reform Act of 1995[15](index=15&type=chunk) - Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and changes in circumstances that may cause actual activities and results to differ from those expressed in any forward-looking statement[15](index=15&type=chunk) - Nurix disclaims any obligation to publicly update any forward-looking statements unless required by applicable law[15](index=15&type=chunk) [Contacts](index=3&type=section&id=Contacts) This section provides investor relations and media contact information for Nurix Therapeutics [Investor and Media Contacts](index=3&type=section&id=Investor%20and%20Media%20Contacts) This section provides investor relations and media contact information for Nurix Therapeutics - Investor Contacts: Kris Fortner, Nurix Therapeutics, Inc., ir@nurixtx.com; Elizabeth Wolffe, Ph.D., Wheelhouse Life Science Advisors, lwolffe@wheelhouselsa.com[16](index=16&type=chunk)[17](index=17&type=chunk) - Media Contact: Aljanae Reynolds, Wheelhouse Life Science Advisors, areynolds@wheelhouselsa.com[17](index=17&type=chunk)

Core Insights - Nurix Therapeutics is advancing its clinical development plans for bexobrutideg, targeting relapsed/refractory chronic lymphocytic leukemia (CLL) with pivotal trials set to begin in the second half of 2025 [1][2] - The company reported a cash position of $428.8 million as of August 31, 2025, indicating strong capitalization for ongoing and future projects [1][8] Clinical Development - Bexobrutideg is set to undergo a single-arm study for potential accelerated approval in relapsed/refractory CLL patients, alongside a randomized controlled Phase 3 trial [2] - Preclinical data for GS-6791, an IRAK4 degrader developed in collaboration with Gilead, demonstrated significant efficacy in a dermatitis model, showcasing its potential in autoimmune diseases [1][2] - Recent Phase 1a data for bexobrutideg in CLL showed an overall response rate (ORR) of 80.9% among 47 evaluable patients, with rapid responses and durable activity noted [2][3] Financial Performance - Revenue for the fiscal quarter ended August 31, 2025, was $7.9 million, a decrease from $12.6 million in the same quarter of 2024, primarily due to the conclusion of the initial research term with Sanofi [4] - Research and development expenses increased to $86.1 million from $55.5 million year-over-year, reflecting accelerated clinical activities [5] - The net loss for the quarter was $86.4 million, or $1.03 per share, compared to a net loss of $49.0 million, or $0.67 per share, in the prior year [6] Pipeline and Collaborations - Nurix is also advancing other drug candidates, including Zelebrudomide for B-cell malignancies and NX-1607 for immuno-oncology indications, with ongoing clinical trials [7] - The company maintains strategic collaborations with Gilead, Sanofi, and Pfizer, focusing on various degrader programs and anticipating further updates throughout 2025 [7]

Company Overview - Nurix Therapeutics, Inc. (NRIX) shares increased by 5.6% to close at $8.7, following a period of 13.5% loss over the past four weeks, indicating a significant shift in investor sentiment [1][2] - The surge in share price is attributed to positive investor expectations regarding Nurix's pipeline candidates and collaborations with established pharmaceutical companies [2] Financial Performance - The company is projected to report a quarterly loss of $0.84 per share, reflecting a year-over-year decline of 25.4% [3] - Expected revenues for the upcoming quarter are $18.67 million, which represents a 48.3% increase compared to the same quarter last year [3] Market Sentiment and Trends - The consensus EPS estimate for Nurix has remained unchanged over the last 30 days, suggesting that stock price movements may not sustain without trends in earnings estimate revisions [4] - The stock currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook in the market [5] Industry Context - Nurix Therapeutics operates within the Zacks Medical - Biomedical and Genetics industry, which includes other companies like EyePoint Pharmaceuticals (EYPT) [5] - EyePoint Pharmaceuticals has also seen a positive stock movement, closing 5.2% higher at $14.08, with a month-to-date return of 11.2% [5]

Core Insights - Nurix Therapeutics announced the presentation of preclinical data for GS-6791, a novel IRAK4 protein degrader, which supports its advancement into clinical studies [1][2] - The findings were presented at the European Academy of Dermatology and Venereology (EADV) Congress, highlighting the potential of GS-6791 in treating inflammatory diseases [1][4] Preclinical Data - GS-6791 mediates sustained degradation of IRAK4, leading to significant inhibition of IL-1 and IL-36-driven responses in skin epithelial cell systems [2][5] - The drug demonstrated near-complete knockdown of IRAK4 in human blood and keratinocytes, with deep inhibition of cytokine pathways relevant to dermatologic diseases [5] Mechanism of Action - GS-6791 is characterized as a potent, orally available degrader of IRAK4, providing a differentiated pharmacologic profile compared to traditional kinase inhibitors [3][4] - By selectively degrading IRAK4, GS-6791 targets complex immune signaling pathways, potentially expanding treatment options for patients with inflammatory diseases [3][4] Collaboration with Gilead - Nurix and Gilead Sciences entered a strategic collaboration in June 2019 to develop targeted protein degradation therapies, with Nurix receiving $135 million to date [4] - For the IRAK4 program, Nurix is eligible for up to $420 million in potential milestone payments and royalties on net sales, with co-development options available for two programs in the U.S. [4][5] Clinical Development - Gilead exercised its option to license GS-6791 in March 2023, taking responsibility for further development [5] - The Investigational New Drug (IND) application for GS-6791 was cleared by the FDA in April 2025, with an ongoing Phase 1 trial assessing safety and pharmacodynamics in healthy volunteers [5]

Summary of Nurix Therapeutics Conference Call Company Overview - **Company**: Nurix Therapeutics (NasdaqGM:NRIX) - **Date**: September 16, 2025 - **Focus**: Development of Bexabritadeg and its applications in autoimmune diseases and oncology Key Points Industry and Product Focus - **Bexabritadeg**: A BTK degrader with potential applications in autoimmune diseases and chronic lymphocytic leukemia (CLL) [3][12] - **BTK (Bruton's Tyrosine Kinase)**: A versatile target in immune cell signaling, with implications across various diseases [4][10] Competitive Differentiation - **Mechanism of Action**: Bexabritadeg degrades BTK, removing both its enzymatic and scaffolding functions, unlike traditional kinase inhibitors which only block enzymatic activity [7][10] - **Potency**: Bexabritadeg is reported to be 10 to 100 times more potent than existing BTK inhibitors (Rizobrutinib and Remibrutinib) in blocking pathways related to immune cell activation [11] Clinical Development Plans - **Clinical Proof-of-Concept**: Expected to generate data on CLL patients with autoimmune hemolytic anemia by 2026, which may provide insights into broader autoimmune applications [12] - **New Formulation**: A new tablet formulation is being studied to enhance patient compliance and broaden the potential market for autoimmune diseases [13][14] Financial and Strategic Considerations - **Funding**: Nurix has $485 million in cash, sufficient to support operations through mid-2027 [38] - **Partnerships**: While partnerships could aid in financing, Nurix is currently well-funded to pursue development independently [15] Collaborative Pipeline - **IRAK4 and STAT6 Degraders**: Collaborations with Gilead and Sanofi for IRAK4 and STAT6 degraders, respectively, with significant market potential [19][22] - **Indication Selection**: Partners will drive indication selection for clinical proof-of-concept studies, with Nurix retaining options for profit-sharing in the U.S. [22][23] Upcoming Milestones - **Clinical Data Releases**: Key disclosures expected at upcoming conferences, including ESMO and ASH, with pivotal studies for Bexabritadeg planned for 2026 [38][39] Additional Insights - **Drug-Antibody Conjugates**: Potential applications in autoimmune diseases, emphasizing specificity and safety [35] - **Market Opportunities**: The autoimmune disease market is viewed as larger than oncology, with Bexabritadeg positioned to capture significant market share [12][14] Conclusion Nurix Therapeutics is strategically positioned with its innovative BTK degrader, Bexabritadeg, and a robust pipeline of collaborative projects. The company is focused on leveraging its unique mechanisms of action to differentiate itself in the competitive landscape of autoimmune and oncology treatments, with significant upcoming milestones that could enhance its market presence.