Nurix Therapeutics Announces Closing of $250.0 Million Registered Offering of Common Stock

Rhea-AI Summary

Nurix Therapeutics (Nasdaq: NRIX) closed an underwritten registered offering of 24,485,799 shares of common stock at $10.21 per share, generating $250.0 million gross proceeds on October 27, 2025.

Nurix said it intends to use net proceeds primarily to fund clinical development of bexobrutideg (NX-5948) in chronic lymphocytic leukemia (CLL), explore autoimmune indications, support R&D to expand the pipeline, and for working capital and general corporate purposes. The offering included new and existing institutional investors and was led by J.P. Morgan, Jefferies, and Stifel.

Positive

• $250.0M gross proceeds from registered offering
• Issued 24,485,799 new shares at $10.21
• Proceeds designated to fund pivotal CLL trials and autoimmune work
• Participation from major healthcare investors including General Atlantic and Redmile

Negative

• Issuance of 24,485,799 shares may dilute existing shareholders
• Underwriting discounts and offering expenses will reduce net proceeds

Insights

Equity Capital Markets Strategist

Nurix raised $250.0 million via an underwritten common stock offering to fund pivotal CLL trials and autoimmune exploration.

The company sold 24,485,799 shares at $10.21 per share, generating gross proceeds of $250.0 million before fees. The deal attracted both new and existing institutional investors such as General Atlantic, Redmile Group, and others, and was run by J.P. Morgan, Jefferies, and Stifel.

This capital explicitly funds clinical development of bexobrutideg (NX-5948) in chronic lymphocytic leukemia and exploration of autoimmune indications, plus R&D and working capital. Key dependencies are timely use of net proceeds and successful progression of the planned pivotal trials; monitor announcements on trial initiation, enrollment milestones, and any use-of-proceeds disclosures for clarity on allocation. The financing materially extends runway for near-term development activities and strengthens the balance sheet to support the stated clinical agenda.

SAN FRANCISCO, Oct. 27, 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 in oncology and autoimmune disease, today announced the closing of its previously announced underwritten registered offering of 24,485,799 shares of its common stock at a purchase price of $10.21 per share. The gross proceeds to Nurix from the offering were $250.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by Nurix.

“The successful completion of this offering not only allows Nurix to accelerate our implementation of pivotal trials in chronic lymphocytic leukemia (CLL), but it also enables us to move more decisively to explore the use of bexobrutideg in autoimmune disease, which could unlock a new dimension of therapeutic potential of the BTK degradation mechanism,” said Arthur T. Sands, M.D., Ph.D., president and CEO of Nurix. “We are very fortunate to be strongly supported in our mission to advance novel medicines for patients with cancer and autoimmune disease by a fantastic group of both current and new investors.”

The offering included participation from both new and existing investors, including General Atlantic, Redmile Group, Braidwell LP, Deep Track Capital, Perceptive Advisors, Trails Edge Capital Partners, and Vestal Point Capital, as well as other healthcare-dedicated funds.

J.P. Morgan Securities LLC, Jefferies LLC, and Stifel, Nicolaus & Company, Incorporated acted as joint book-running managers for the offering. Oppenheimer & Co. Inc. and Robert W. Baird & Co. Incorporated acted as lead managers.

Nurix currently intends to use the net proceeds from this offering primarily to fund the clinical development of its drug candidates, including the ongoing development of bexobrutideg (NX-5948) in chronic lymphocytic leukemia (CLL) and the exploration of potential autoimmune indications, as well as to support research and development activities to expand its pipeline and for working capital and general corporate purposes.

The securities were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-280117) previously filed with the Securities and Exchange Commission (“SEC”) and declared effective on June 11, 2024. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov.

A copy of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388, or via email at Prospectus_Department@Jefferies.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or via email at syndprospectus@stifel.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of Nurix, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Nurix Therapeutics, Inc.
Nurix Therapeutics is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and autoimmune diseases. Nurix’s wholly owned, clinical stage pipeline includes degraders of Bruton’s tyrosine kinase (BTK), a B-cell signaling protein, to treat chronic lymphocytic leukemia (CLL) and potential autoimmune indications, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. Nurix also is advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates (DACs) in its preclinical pipeline. Nurix’s partnered drug discovery pipeline consists of a preclinical stage degrader of STAT6 in collaboration with Sanofi, a clinical stage degrader of IRAK4 in collaboration with Gilead, as well as multiple additional programs under collaboration agreements with Gilead Sciences, Inc., Sanofi S.A. and Pfizer Inc., within which Nurix retains certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Powered by a fully AI-integrated discovery engine capable of tackling any protein class, and coupled with unparalleled ligase expertise, Nurix’s dedicated team has built a formidable advantage in translating the science of targeted protein degradation into clinical advancements. Nurix aims to establish degrader-based treatments at the forefront of patient care, writing medicine’s next chapter with a new script to outmatch disease. Nurix is headquartered in San Francisco, California.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein that do not describe historical facts, including, but not limited to, statements regarding the Company’s plans to accelerate the implementation of bexobrutideg pivotal trials in CLL; the Company’s plans to explore the use of bexobrutideg in autoimmune disease; and the Company’s expected use of proceeds, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include, among others, the risks identified in Nurix’s filings with the SEC and subsequent filings with the SEC. Any of these risks and uncertainties could materially and adversely affect Nurix’s results of operations, which would, in turn, have a significant and adverse impact on Nurix’s stock price. Nurix cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Nurix undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.

Investor Contacts:
Kris Fortner
Nurix Therapeutics
ir@nurixtx.com

Elizabeth Wolffe, Ph.D.
Wheelhouse Life Science Advisors
lwolffe@wheelhouselsa.com

Media Contact:
Aljanae Reynolds
Wheelhouse Life Science Advisors
areynolds@wheelhouselsa.com

FAQ

What did Nurix (NRIX) announce on October 27, 2025?

Nurix closed an underwritten offering of 24,485,799 shares at $10.21 per share, raising $250.0 million gross.

How will the NRIX offering proceeds be used?

Nurix intends to use net proceeds primarily to fund clinical development of bexobrutideg (NX-5948) in CLL, explore autoimmune indications, and support R&D and working capital.

Who led the Nurix (NRIX) registered offering?

J.P. Morgan Securities, Jefferies, and Stifel acted as joint book-running managers; Oppenheimer and Robert W. Baird acted as lead managers.

How many shares did Nurix (NRIX) sell and at what price?

Nurix sold 24,485,799 shares at a purchase price of $10.21 per share.

Does the NRIX offering affect existing shareholders?

Yes; the issuance of 24,485,799 new shares may dilute existing shareholders and reduce per-share ownership.

Where can investors find the Nurix offering prospectus for NRIX?

The final prospectus supplement and accompanying prospectus are filed with the SEC and available on www.sec.gov.