Nurix Therapeutics, Inc. Stock Price, News & Analysis

Nurix Therapeutics (NRIX) reported its Q3 2021 financial results, highlighting a strong cash position of $465.4 million as of August 31, 2021. The company initiated a Phase 1 trial for its lead E3 ligase inhibitor NX-1607, now with two drug candidates in clinical development. Collaboration revenue rose to $10.3 million, up from $4.1 million year-on-year, driven by collaborations with Sanofi and Gilead. However, R&D expenses increased to $30.9 million, resulting in a net loss of $28.8 million or ($0.65) per share, up from ($1.09) per share a year earlier.

Nurix Therapeutics (NRIX) announced the appointments of Judith A. Reinsdorf and Paul M. Silva to its board of directors, effective October 1, 2021. Reinsdorf, former executive vice president and general counsel of Johnson Controls, brings extensive leadership experience, while Silva, former chief accounting officer at Vertex Pharmaceuticals, adds over 30 years of finance expertise. The company emphasizes that their expertise will aid in advancing multiple drug candidates into clinical trials by year-end 2021 as part of its innovative DELigase drug discovery platform.

Nurix Therapeutics Inc. (NRIX) reported its Q2 2021 financial results and corporate updates on July 13, 2021. The company has initiated a Phase 1 trial for NX-2127 in patients with relapsed B-cell malignancies and plans to start trials for three additional drug candidates. Financially, Nurix reported collaboration revenue of $7.1 million, up from $4.2 million year-over-year, but net losses increased to $26.4 million, or $0.60 per share. As of May 31, 2021, the company had $496 million in cash. The leadership team has expanded with key appointments to drive development.

Nurix Therapeutics, Inc. (Nasdaq: NRIX) announces the appointment of Stefani A. Wolff as Chief Operating Officer and Executive Vice President of Product Development. Wolff brings over 30 years of experience in oncology and immunology, previously serving at Principia Biopharma. Her leadership is viewed as crucial as Nurix advances its DELigase platform and oncology pipeline, with multiple assets poised to enter clinical development this year. The company specializes in targeted protein modulation therapies for cancer treatment.

Nurix Therapeutics (NRIX) announced promising preclinical data for NX-5948, a selective degrader of BTK, presented at the EULAR 2021 Virtual Congress. Daily oral dosing showed significant reduction of arthritis symptoms in animal models, indicating potential for treating autoimmune disorders. The results suggest NX-5948's ability to cross the blood-brain barrier and offer therapeutic benefits in various indications. Clinical trials for B cell malignancies are expected to start in the second half of 2021, with further exploration into autoimmune diseases planned for 2022.

Nurix Therapeutics (Nasdaq: NRIX) announced the appointment of Clay Siegall, Ph.D., to its board of directors. Dr. Siegall, co-founder of Seagen, brings extensive experience in transforming drug discovery platforms into commercial-stage oncology companies. He will contribute to Nurix's strategy as the company aims to advance four clinical programs this year and expand its DELigase platform. Concurrently, Leon Chen, Ph.D., resigned from the board. Nurix's innovative technology aims to target oncology and autoimmune diseases with promising preclinical data and strategic partnerships.

Nurix Therapeutics announced promising preclinical results for NX-5948, a selective degrader of Bruton’s tyrosine kinase (BTK), during a collagen-induced arthritis (CIA) mouse model. The data, to be presented at the EULAR 2021 Virtual Congress from June 2−5, 2021, demonstrated significant improvement in arthritis symptoms compared to untreated controls.

NX-5948, an orally bioavailable small molecule, is being investigated for its potential in treating autoimmune diseases and certain B-cell malignancies.

Nurix Therapeutics (Nasdaq: NRIX) announced participation in two key healthcare conferences in May 2021. The first is the RBC Capital Markets Global Healthcare Conference on May 18 at 1:20 PM EDT, featuring CFO Hans van Houte and SVP Robert J. Brown, M.D. The second is the UBS Global Healthcare Virtual Conference on May 25 at 4:00 PM EDT, with CEO Arthur T. Sands, M.D., Ph.D. Both events will be webcast live, accessible via the Nurix website, with recordings available for 30 days post-event.

Nurix Therapeutics (NRIX) reported its Q1 financial results and corporate updates on April 13, 2021. The company began with the initiation of its first clinical trial for NX-2127, targeting B-cell malignancies. It expanded its collaboration with Sanofi, receiving a $22 million option exercise payment. Nurix successfully completed a $150 million follow-on offering, increasing its cash reserves to approximately $530.4 million. However, the company reported a net loss of $24.3 million for the quarter, up from $12.4 million the prior year.