Bexobrutideg Investor Update Investor Presentation October 2025 Certain information contained in this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources and the Company's own internal estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any infor ...

Core Viewpoint - Nurix Therapeutics, Inc. has announced the pricing of its underwritten registered offering of 24,485,799 shares at $10.21 per share, aiming to raise approximately $250 million for clinical development and research activities [1][4]. Group 1: Offering Details - The offering consists of 24,485,799 shares priced at $10.21 each, with expected gross proceeds of $250 million before expenses [1]. - The offering is set to close on or about October 23, 2025, pending customary closing conditions [1]. - Participation in the offering includes both new and existing investors such as General Atlantic and Redmile Group [2]. Group 2: Use of Proceeds - Nurix intends to use the net proceeds primarily for clinical development of drug candidates, including bexobrutideg (NX-5948) for chronic lymphocytic leukemia (CLL) and potential autoimmune indications [4]. - Additional uses include funding research and development to expand the pipeline, as well as for working capital and general corporate purposes [4]. Group 3: Management and Registration - J.P. Morgan Securities LLC, Jefferies LLC, and Stifel, Nicolaus & Company are acting as joint book-running managers for the offering [3]. - The offering is made under a shelf registration statement previously filed with the SEC, which was declared effective on June 11, 2024 [5].

Core Insights - Nurix Therapeutics has initiated the DAYBreak clinical trial for bexobrutideg, a pivotal Phase 2 study targeting relapsed or refractory chronic lymphocytic leukemia (r/r CLL) [1][4] - The 600 mg once-daily dose of bexobrutideg has been cleared by global regulators, including the FDA and EMA, following data analysis from a Phase 1b study [2][4] - The company plans to conduct a Phase 3 confirmatory trial in the first half of 2026, comparing bexobrutideg to other treatment options for r/r CLL patients [5][6] Company Developments - Nurix is transitioning to a pivotal-stage company with the initiation of the DAYBreak study, marking a significant milestone for bexobrutideg [4] - The DAYBreak study will enroll patients who have progressed after treatment with various BTK inhibitors, aiming to address unmet medical needs [4][6] - The company has generated substantial data supporting bexobrutideg's potential as a best-in-class BTK degrader [7][8] Clinical Trial Details - The DAYBreak trial is a single-arm Phase 2 study evaluating the efficacy of bexobrutideg in patients with r/r CLL [1][4] - A randomized Phase 3 trial is planned to compare bexobrutideg monotherapy against other treatment regimens in patients whose disease has progressed on prior therapies [5][6] - The favorable safety profile of the 600 mg dose is expected to optimize therapeutic effects for patients [6] Investor Engagement - Nurix will host an investor webcast to provide updates on the program and discuss new preclinical data supporting bexobrutideg [3][9] - The webcast will include highlights of unpublished data demonstrating superior degradation potency and selectivity of bexobrutideg [8][10]

Core Insights - NX-1607 is a first-in-class oral inhibitor of CBL-B, demonstrating on-target peripheral immune activation and anti-tumor activity in heavily pretreated patients with advanced solid tumors [1][2][4] - The clinical data presented at ESMO 2025 supports the initiation of expansion cohorts for further evaluation of NX-1607 as a monotherapy or in combination therapies [1][2] Company Overview - Nurix Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on targeted protein degradation medicines, aiming to improve treatment options for cancer and inflammatory diseases [7] - The company is advancing multiple clinical and preclinical programs, including NX-1607 and bexobrutideg, an oral BTK degrader [7] Clinical Data Summary - In a Phase 1a study, 82 patients with various solid tumors were treated with NX-1607 across different dosing regimens, showing a disease control rate (DCR) of 49.3% [2][3] - Notable clinical activity included reductions in tumor-specific biomarkers, long-term stable disease, and a confirmed partial response in a patient with micro-satellite stable colorectal cancer [2][3] - The most significant reductions in prostate-specific antigen (PSA) were observed in patients receiving BID dosing, with 6 out of 13 patients achieving PSA reductions of ≥50% [2] Safety Profile - NX-1607 exhibited a tolerable safety profile, comparable to approved immuno-oncology agents, with most adverse events being Grade 2 or less [3] - Immune-related adverse events were observed in 6 patients, indicating on-target immune activation similar to PD-1/PD-L1 therapies [3] Future Development - The company plans to further explore the therapeutic potential of NX-1607, particularly in indications where current immunotherapies have shown limited efficacy, such as MSS colorectal cancer and metastatic prostate cancer [4]

Core Insights - NX-1607 is a first-in-class oral inhibitor of CBL-B, demonstrating on-target peripheral immune activation and anti-tumor activity in heavily pretreated patients with advanced solid tumors [1][2][4] - The clinical data presented at ESMO 2025 supports the initiation of expansion cohorts for further evaluation of NX-1607 as a monotherapy or in combination therapies [1][2] Company Overview - Nurix Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on targeted protein degradation medicines, aiming to improve treatment options for cancer and inflammatory diseases [7] - The company is advancing multiple clinical and preclinical programs, including NX-1607 and bexobrutideg, an oral BTK degrader [7] Clinical Data Summary - In a Phase 1a study, 82 patients with various solid tumors were treated with NX-1607 across different dosing regimens, showing dose-dependent exposure and clinical activity [2][3] - The disease control rate (DCR) was reported at 49.3%, with notable reductions in tumor-specific biomarkers such as PSA and CEA [2][3] - The treatment was well-tolerated, with most adverse events being Grade 2 or less, and immune-related adverse events indicating on-target immune activation [3][4] Therapeutic Potential - NX-1607 targets a previously unaddressed pathway in immune regulation, affecting multiple immune cell types, which may enhance its efficacy in treating solid tumors [2][6] - The results are particularly promising for tumor types like micro-satellite stable colorectal cancer and metastatic prostate cancer, where current immunotherapies have shown limited efficacy [4]

Core Insights - Nurix Therapeutics is focused on developing innovative therapies for cancer treatment, particularly its oral BTK degrader, bexobrutideg, targeting chronic lymphocytic leukemia (CLL) [1][5] - The company plans to initiate a pivotal phase 2 study in late 2025, indicating a strong commitment to advancing its clinical programs [1][5] Financial Summary - Stifel Nicolaus has set a price target of $33 for NRIX, suggesting a potential upside of approximately 238% from its current price of $9.76 [2][5] - The stock has experienced a decrease of 10.13%, reflecting market volatility, while the company's market capitalization stands at $750.3 million [2] Clinical Data - Nurix's phase 1a data for bexobrutideg shows an impressive 80.9% overall response rate (ORR), supporting the potential for Accelerated Approval [3][5] - The company aims to expand its efforts with a phase 3 trial and explore combination therapies for CLL, targeting a multibillion-dollar market [3][5] Stock Performance - The stock has fluctuated between $9.50 and $10.56 today, with a 52-week high of $29.56 and a low of $8.18, indicating active investor interest [4] - Trading volume stands at 1,996,408 shares, suggesting significant market activity [4]

Core Insights - Nurix Therapeutics, Inc. (NASDAQ:NRIX) is focused on developing therapies that modulate protein levels by targeting the ubiquitin-proteasome system, a critical pathway in protein degradation [1] Financial Performance - For the quarter, NRIX reported an earnings per share (EPS) of -$1.03, missing the estimated EPS of -$0.91, which marks a 22.62% negative surprise and is a significant increase from the $0.67 loss per share in the same quarter last year [2][6] - The company's revenue for the quarter was $7.89 million, falling short of the estimated $13.27 million, representing a 57.71% miss from the Zacks Consensus Estimate and a decline from the $12.59 million reported in the same period last year [3][6] Financial Ratios - NRIX has a negative price-to-earnings (P/E) ratio of -3.36, indicating a lack of profitability, while the price-to-sales ratio is 8.97, suggesting investors are paying nearly 9 times the company's sales [4] - The enterprise value to sales ratio is slightly lower at 8.70 [4] - Despite these challenges, NRIX maintains a strong current ratio of 5.35, indicating good short-term financial health, and a low debt-to-equity ratio of 0.15, suggesting a conservative approach to leveraging [5][6]

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]