Nurix Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Nurix Therapeutics (NRIX), a clinical-stage biopharmaceutical company specializing in targeted protein degradation medicines, has granted inducement awards to 17 new employees on June 10, 2025. The awards include stock options for 97,400 shares with an exercise price of $12.79 per share and restricted stock units (RSUs) for 66,750 shares. The stock options will vest over four years, with 25% vesting after one year and the remainder vesting monthly. RSUs will also vest over four years, with 25% vesting after one year and the remainder vesting quarterly. The grants were made under Nurix's 2024 Equity Inducement Plan and approved by the Compensation Committee in compliance with Nasdaq Listing Rule 5635(c)(4).

SAN FRANCISCO, June 13, 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, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and inflammatory diseases, today announced that on June 10, 2025, the company granted inducement awards to seventeen new employees. The grants were made pursuant to Nurix’s 2024 Equity Inducement Plan as an inducement material to the employees’ acceptance of employment with Nurix and were approved by the Compensation Committee of Nurix’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4).

The company granted stock options to purchase an aggregate of 97,400 shares of Nurix common stock and restricted stock unit awards (RSUs) representing an aggregate of 66,750 shares of Nurix common stock.

One fourth of the total number of shares underlying the stock options will vest on the one-year anniversary of the employee’s date of hire and one forty-eighth of the total number of shares underlying the stock options will vest each month thereafter until the stock option is fully vested on the fourth anniversary of the employee’s date of hire, subject to the employee’s continued service with Nurix on each such vesting date. The stock options have a term of ten years and an exercise price of $12.79 per share, which is equal to the closing price of Nurix’s common stock on the grant date as reported by the Nasdaq Global Market.

One fourth of the total number of shares subject to the RSUs will vest on the one-year anniversary of the RSU vesting start date, which is July 30, 2025, subject to the employee’s continued service with Nurix on the vesting date. Thereafter, one sixteenth of the total number of shares subject to the RSUs shall vest quarterly, until the RSU award is fully vested on the fourth anniversary of the vesting start date, subject to the employee’s continued service with Nurix on each such vesting date.

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 inflammatory diseases. Nurix’s wholly owned, clinical stage pipeline includes degraders of Bruton’s tyrosine kinase (BTK), a B-cell signaling protein, 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 preclinical stage degraders of IRAK4 and STAT6, 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. For additional information visit http://www.nurixtx.com.

Contacts:

Investors
Kris Fortner
Nurix Therapeutics, Inc.
ir@nurixtx.com

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

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

FAQ

What inducement grants did Nurix Therapeutics (NRIX) announce in June 2025?

Nurix announced stock options for 97,400 shares at $12.79 per share and RSUs for 66,750 shares to 17 new employees.

What is the vesting schedule for Nurix's (NRIX) 2025 inducement stock options?

The stock options vest over 4 years, with 25% vesting after one year and 1/48th vesting monthly thereafter.

How do the RSUs vest in Nurix's (NRIX) June 2025 inducement grants?

The RSUs vest over 4 years, with 25% vesting after one year and 1/16th vesting quarterly thereafter.

What is the exercise price for Nurix's (NRIX) June 2025 inducement stock options?

The stock options have an exercise price of $12.79 per share, equal to Nurix's closing price on the grant date.