Core Insights - Nurix Therapeutics, Inc. is advancing its clinical-stage biopharmaceutical efforts with the presentation of data from its ongoing Phase 1a/b clinical trial of bexobrutideg (NX-5948) for patients with relapsed/refractory chronic lymphocytic leukemia (CLL) and Waldenström macroglobulinemia at major scientific conferences [1][2] Group 1: Clinical Trial Presentations - Data from the Phase 1a/b clinical trial will be presented at the European Hematology Association 2025 Congress in Milan, Italy, from June 12–15, 2025, and at the 18th International Conference on Malignant Lymphoma in Lugano, Switzerland, from June 17–21, 2025 [2] - The EHA 2025 presentation will include findings on the rapid and durable clinical responses of bexobrutideg in relapsed refractory CLL, with Dr. Zulfa Omer as the presenting author [3] - An oral presentation at the 18-ICML will also cover updated findings from the Phase 1a study of bexobrutideg in relapsed refractory CLL, presented by Dr. Alexey Danilov [4] Group 2: Drug Profile - Bexobrutideg (NX-5948) is an investigational, orally bioavailable small molecule that acts as a degrader of Bruton's tyrosine kinase (BTK), currently evaluated in a Phase 1 clinical trial for relapsed or refractory B cell malignancies [6] - The drug is designed to penetrate the brain and is part of a broader strategy by Nurix to develop targeted protein degradation medicines aimed at improving treatment options for cancer and inflammatory diseases [7][8] Group 3: Company Overview - Nurix Therapeutics focuses on the discovery, development, and commercialization of targeted protein degradation medicines, positioning itself at the forefront of innovative drug design [7] - The company has a pipeline that includes BTK degraders and CBL-B inhibitors, with collaborations with major pharmaceutical companies like Gilead Sciences, Sanofi, and Pfizer [8]

Core Insights - Nurix Therapeutics, Inc. has developed a DEL-AI platform that utilizes a first-in-class DEL Foundation Model trained on proprietary DNA encoded library data to predict novel binders for therapeutically relevant targets, including those previously deemed undruggable [1][2] - The DEL Foundation Model can perform virtual experiments to accurately predict experimental results, demonstrating a correlation between the model's success and the similarity of query sequences to the training set [2] Company Overview - Nurix is a clinical-stage biopharmaceutical company focused on targeted protein degradation medicines, aiming to improve treatment options for cancer and inflammatory diseases [6] - The company’s pipeline includes degraders of Bruton's tyrosine kinase (BTK) and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), along with multiple preclinical candidates [6] Technology and Innovation - The DEL-AI platform integrates advanced machine learning with a collection of over five billion unique DEL compounds, enabling rapid identification of drug candidates for a wide range of proteins [2][4] - The development of the DEL Foundation Model was supported by collaboration with Loka and Amazon Web Services, utilizing AWS SageMaker for scalable infrastructure [3] Research and Development - Nurix's DEL-AI platform is designed to streamline drug discovery workflows, allowing for efficient identification of therapeutic candidates for both internal pipelines and partnerships [2] - The platform leverages extensive datasets from DEL affinity screens to identify binders for virtually any pharmaceutically relevant target [4]

Nurix's lead BTK degrader, bexobrutideg, demonstrates exceptional efficiency, with a single molecule degrading approximately 10,000 copies of BTK per hour   BRAF degrader demonstrates broad activity across all three BRAF mutation classes Aurora A kinase degraders demonstrate potential to address both enzymatic and scaffolding functions and promote tumor regression in brain and small cell lung cancer models  SAN FRANCISCO, April 25, 2025 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a clinical- ...

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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]

Clinical Development - The company is focused on targeted protein degradation for cancer and autoimmune diseases, leveraging its DEL-AI discovery engine [127]. - The clinical pipeline includes bexobrutideg (NX-5948) and NX-2127, both in Phase 1a/1b studies for B-cell malignancies, with a Phase 2 trial for bexobrutideg expected to start in 2025 [129][130]. - Bexobrutideg received Fast Track designation from the FDA for chronic lymphocytic leukemia (CLL) and Waldenström macroglobulinemia (WM) after at least two lines of therapy [129]. - NX-1607, an orally bioavailable inhibitor of CBL-B, is currently in Phase 1a/1b studies for oncology indications [131][132]. - The company aims to address significant unmet needs in diseases such as cancer and autoimmunity through its innovative drug discovery efforts [133]. Financial Performance - Total revenue for the three months ended February 28, 2025, was $18,453,000, an increase of $1,868,000 (11.3%) compared to $16,585,000 for the same period in 2024 [175]. - Collaboration revenue increased by $1,868,000 (11.3%) to $18,453,000, primarily driven by a $4,464,000 increase from Sanofi, offset by a $2,910,000 decrease from Gilead [176]. - The company has incurred net losses of $56.4 million and $41.5 million for the three months ended February 28, 2025, and February 29, 2024, respectively [155]. - Net loss for the three months ended February 28, 2025, was $56,351,000, an increase of $14,833,000 (35.7%) compared to a net loss of $41,518,000 in the prior year [175]. - Cash used in operating activities was $61,087,000, compared to $41,951,000 in the same period last year, reflecting increased operational costs [193]. Collaboration and Financing - The company has received $440 million in non-dilutive financing from collaborations with Gilead, Sanofi, and Seagen, with potential future payments of up to $7.1 billion [134]. - Sanofi paid $22 million to expand the number of targets in their collaboration agreement from three to five [141]. - The Gilead Agreement includes a $15 million payment triggered by the extension of the research term for certain drug targets [135]. - The company is eligible for approximately $1.8 billion in total additional payments based on future milestones and successful completion of development [138]. - Pfizer Agreement included an upfront payment of $60.0 million and potential contingent payments of up to $3.4 billion based on milestones [151]. Expenses and Cash Flow - Total research and development expenses for the three months ended February 28, 2025, were $69.7 million, an increase of $19.7 million from $50.0 million in the same period in 2024 [168]. - Research and development expenses rose by $19,658,000 (39.3%) to $69,663,000, attributed to increased clinical and contract manufacturing costs [177]. - General and administrative expenses decreased slightly by $145,000 (1.2%) to $11,654,000, due to lower legal fees [178]. - The accumulated deficit as of February 28, 2025, was $795.1 million, reflecting significant losses primarily from research and development activities [155]. - Cash, cash equivalents, and marketable securities totaled $549.7 million as of February 28, 2025, expected to fund operations for at least the next 12 months [158]. Future Outlook - The company does not expect to generate product revenue until successful development and regulatory approval of drug candidates, which may take several years [156]. - The company is focused on future commercialization activities, including product manufacturing and marketing for drug candidates pending approval [195]. - General and administrative expenses are expected to increase as the company continues to operate as a public entity and improve its infrastructure [169].

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]

Core Viewpoint - Nurix Therapeutics (NRIX) shares increased by 8.7% following the announcement of an exclusive licensing agreement with Sanofi (SNY) for a new program targeting a previously untreatable transcription factor related to autoimmune diseases [1] Group 1: Collaboration Details - The collaboration between Nurix and Sanofi, established in 2019, focuses on developing targeted protein degradation therapies using Nurix's DEL-AI discovery platform [2][3] - Sanofi expanded the number of targets from three to five in 2021, indicating a strengthening partnership [2] Group 2: Financial Aspects - Nurix received a $15 million license extension fee from Sanofi and is eligible for up to $465 million in potential milestone payments per licensed program, along with royalties on future sales [9] - Under the revised agreement, Nurix can co-develop and co-promote up to two products in the U.S. after demonstrating clinical proof of concept, sharing profits and losses equally with Sanofi for these programs [7][8] Group 3: Market Performance - Year to date, NRIX stock has decreased by 39.6%, contrasting with the industry’s growth of 1.2% [3] - The stock is experiencing further gains in pre-market trading following the announcement [1]