Nurix Therapeutics, Inc. Stock Price, News & Analysis

Nurix Therapeutics, Inc. (Nasdaq: NRIX) announced six poster presentations for the Society for Immunotherapy of Cancer’s 37th Annual Meeting from November 8-12, 2022, in Boston. The presentations highlight the company’s targeted protein modulation platform and CBL-B inhibitors, including NX-1607 and DeTIL-0255. Key data to be presented includes initial biomarker data from a Phase 1 trial of NX-1607 in patients with advanced malignancies. These advancements could enhance anti-tumor immunity and broaden treatment options for various cancer types.

Nurix Therapeutics, Inc. (Nasdaq: NRIX) has appointed Edward C. Saltzman to its board of directors, enhancing its strategic capabilities in drug development. With over 30 years of experience in the biopharmaceutical sector, Saltzman currently leads Biotech Strategy at Lumanity Inc. His expertise is expected to significantly contribute as Nurix advances its drug pipeline targeting cancer treatments. CEO Arthur T. Sands expressed optimism about Saltzman's role in the company's growth, specifically highlighting Nurix’s DELigase platform designed to modulate protein levels for innovative cancer therapies.

Nurix Therapeutics (Nasdaq: NRIX) announced that Arthur T. Sands, M.D., Ph.D., will participate in two significant conferences in September 2022. The presentations include a Fireside chat at the Wells Fargo Healthcare Conference on September 7 from 3:45 to 4:15 p.m. ET, and another at the Baird 2022 Global Healthcare Conference on September 13 from 10:50 to 11:20 a.m. ET. These events will be webcast live, with recordings available for approximately 30 days. Nurix specializes in targeted protein modulation for treating cancer.

Nurix Therapeutics (Nasdaq: NRIX) announced the appointment of Eric Schlezinger as Chief People Officer. With extensive experience in biopharma HR, Schlezinger aims to enhance leadership and talent acquisition as Nurix expands its oncology pipeline. CEO Arthur Sands highlighted Schlezinger's strengths in building company culture and recruiting top talent. Previously, Schlezinger led HR at Adamas Pharmaceuticals and Vir Biotechnology, contributing to their growth and transitions to public companies. Nurix focuses on targeted protein modulation for cancer treatment, utilizing E3 ligases in their drug discovery.

Nurix Therapeutics (Nasdaq: NRIX) announced a registered direct offering of pre-funded warrants to purchase 2,869,440 shares of common stock at a price of $13.939 per warrant, raising approximately $40 million. The transaction with two healthcare-focused investment funds is expected to close on July 11, 2022. Proceeds will support clinical trials, manufacturing, and research, allowing Nurix to fund operations into the second half of 2024. The offering is conducted under an effective shelf registration statement and will not constitute an offer to sell securities in any unlawful jurisdiction.

Nurix Therapeutics (Nasdaq: NRIX) announced a registered direct offering of pre-funded warrants to purchase 3,945,480 shares of common stock at $13.939 per warrant, totaling approximately $55 million in gross proceeds. The offering is expected to close on July 11, 2022. Proceeds will support clinical trials, manufacturing, research, and other corporate purposes, aiming to fund operations into the second half of 2024. The financing includes participation from Redmile Group. The pre-funded warrants were offered under a previously filed shelf registration statement with the SEC.

Nurix Therapeutics, Inc. (NRIX) announced advancements in its clinical programs, including the initiation of Phase 1b for NX-2127 in chronic lymphocytic leukemia (CLL) due to promising Phase 1a results. The first patient was dosed in the Phase 1a trial for NX-5948 targeting B-cell malignancies. Financially, collaboration revenue rose to $11.4 million, driven by partnerships with Gilead and Sanofi. However, the net loss increased to $45.4 million for Q2 2022. As of May 31, 2022, cash and investments stood at $348.8 million.

Nurix Therapeutics (Nasdaq: NRIX) has received FDA clearance for its Investigational New Drug (IND) application to expand its NX-1607 Phase 1 clinical program into the U.S. Previously enrolling patients in the U.K., this trial will assess the safety and tolerability of NX-1607, a first-in-class CBL-B inhibitor targeting advanced malignancies.

The company aims to share initial biomarker data from the trial in the latter half of 2022, highlighting its commitment to developing innovative therapies for solid tumors.

Nurix Therapeutics (Nasdaq: NRIX) presented details about its Phase 1 clinical trials for NX-2127 and NX-5948 at the EHA2022 Hybrid Congress held from June 9-12, 2022. Both investigational therapies target patients with relapsed and refractory B-cell malignancies. Initial results from NX-2127 show clinically meaningful degradation of BTK in all patients, including those with mutations causing resistance to standard care. Further data is expected in the latter half of 2022. Posters are available for on-demand viewing on the EHA website.