Wells Fargo Reaffirms a Buy Rating on Nurix Therapeutics (NRIX), Sets a $30 PT

Company Overview - Nurix Therapeutics, Inc. (NASDAQ:NRIX) is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing innovative small molecules and antibody therapies for inflammatory conditions, cancer, and other challenging diseases [5] Investment Potential - Wells Fargo analyst Derek Archila reaffirmed a Buy rating on Nurix Therapeutics, Inc. with a price target of $30, indicating significant upside potential for the stock [1] Clinical Trial Results - On December 8, Nurix announced new clinical data from a Phase 1 trial of its Bruton's tyrosine kinase (BTK) degrader, bexobrutideg (NX-5948), showing an objective response rate (ORR) of 75.0% in patients with relapsed or refractory Waldenström macroglobulinemia [2] - The trial reported three very good partial responses (VGPR) among heavily pre-treated patients, suggesting promising efficacy [2] Efficacy and Safety Profile - The median duration of response (DOR) and median progression-free survival (PFS) have not been reached, with a median follow-up of 8.1 months, indicating ongoing evaluation of treatment effectiveness [3] - The treatment was well tolerated, with adverse events predominantly low grade, including thrombocytopenia (19.4%), neutropenia (29.0%), petechiae (29.0%), diarrhea (25.8%), anemia (22.6%), and purpura/contusion (22.6%) [4]