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Nurix Therapeutics (Nasdaq: NRIX) posts Q1 2026 revenue drop, wider loss

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Rhea-AI Filing Summary

Nurix Therapeutics reported fiscal first quarter 2026 results and updated progress across its clinical pipeline. Revenue was $6.3 million, down from $18.5 million a year earlier as certain Sanofi collaboration research terms ended. Research and development expenses rose to $84.1 million and general and administrative costs increased to $14.6 million, reflecting expanded clinical activity.

Net loss widened to $87.2 million, or ($0.79) per share, compared with ($0.67) per share in the prior-year quarter. Nurix ended the quarter with $540.7 million in cash, cash equivalents and marketable securities. The company highlighted ongoing Phase 2 and planned Phase 3 studies of bexobrutideg in relapsed/refractory chronic lymphocytic leukemia, additional oncology programs, and partnered degraders with Gilead and Sanofi.

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Insights

Revenue fell sharply while R&D spending and losses increased.

Nurix Therapeutics posted fiscal Q1 2026 revenue of $6.3 million, down from $18.5 million a year earlier as certain Sanofi collaboration research terms ended. This shift underscores reliance on partnered revenues while internal programs move toward later-stage trials.

Research and development expenses rose to $84.1 million, driving a wider net loss of $87.2 million or ($0.79) per share. The company reported $540.7 million in cash, cash equivalents and marketable securities as of February 28, 2026, supporting its registrational bexobrutideg program and broader pipeline, including partnered IRAK4 and STAT6 degraders.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Quarterly revenue $6.3 million Three months ended February 28, 2026
Prior-year quarterly revenue $18.5 million Three months ended February 28, 2025
Research and development expense $84.1 million Three months ended February 28, 2026
Net loss $87.2 million Three months ended February 28, 2026
Net loss per share ($0.79) per share Basic and diluted, fiscal Q1 2026
Cash, cash equivalents and marketable securities $540.7 million As of February 28, 2026
Total operating expenses $98.7 million Three months ended February 28, 2026
Weighted-average shares outstanding 110,071,668 shares Basic and diluted, fiscal Q1 2026
Accelerated Approval regulatory
"designed to support a potential Accelerated Approval submission."
Accelerated approval is a process that allows new medical treatments to be approved more quickly than usual if they address serious or life-threatening conditions and show promising early results. For investors, it signals that a treatment may reach the market sooner, potentially boosting a company's prospects, but it also involves some uncertainty since full evidence of effectiveness is still being gathered.
Phase 3 medical
"plans to initiate a global randomized confirmatory Phase 3 trial by midyear 2026"
Phase 3 is the late-stage clinical testing step for a new drug or medical treatment, where the product is given to large groups of patients to confirm effectiveness, monitor side effects, and compare it to standard care. Successful Phase 3 results are often the final scientific hurdle before regulators decide on approval and market launch—like passing a final exam before graduation—and can sharply change a company's valuation and future revenue prospects.
IND-enabling studies medical
"STAT6 degrader, NX-3911, in IND-enabling studies."
Ind-enabling studies are early research efforts that test whether a new drug or treatment is safe and effective enough to move forward in development. They are like preliminary tests to ensure a product works as intended before investing more resources into large-scale trials. For investors, these studies are important because successful results can signal potential progress toward bringing a new product to market, impacting its future value.
targeted protein degradation technical
"focused on the discovery, development and commercialization of targeted protein degradation medicines"
Targeted protein degradation is a drug approach that uses small molecules to mark harmful or malfunctioning proteins inside cells so the cell’s own disposal system breaks them down, rather than simply blocking their activity. For investors, it matters because this method can potentially tackle diseases that traditional drugs cannot reach, offering a new class of therapies with broad commercial and patent potential—like switching from silencing a problem to removing it entirely.
deferred revenue financial
"Deferred revenue, current | 18,754 | | | 17,580"
Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.
Revenue $6.3 million down from $18.5 million in the prior-year quarter
Net loss $87.2 million wider than $56.4 million in the prior-year quarter
Net loss per share ($0.79) wider than ($0.67) in the prior-year quarter
R&D expense $84.1 million up from $69.7 million in the prior-year quarter
Understanding 8-K Material Events →
00015495952026FYfalse00015495952026-04-082026-04-08

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________________
FORM 8-K
___________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): April 8, 2026
___________________________________________
NURIX THERAPEUTICS, INC.
(Exact Name of Registrant as Specified in its Charter)
___________________________________________
Delaware001-3939827-0838048
(State or Other Jurisdiction
of Incorporation or Organization)
(Commission
File Number)
(IRS Employer
Identification No.)
1600 Sierra Point Parkway
Brisbane, California
94005
(Address of Principal Executive Offices)(Zip Code)
(415) 660-5320
(Registrant’s Telephone Number, Including Area Code) 
N/A
(Former Name or Former Address, if Changed Since Last Report)
___________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: 
Title of each classTrading symbol(s)Name of each exchange on which registered
Common Stock, $0.001 par value per shareNRIXNasdaq Global Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 2.02    Results of Operations and Financial Condition.
On April 8, 2026, Nurix Therapeutics, Inc., a Delaware corporation (the “Company”), issued a press release announcing the Company’s financial results for the fiscal quarter ended February 28, 2026. The press release is furnished as Exhibit 99.1 and is incorporated herein by reference.
The information furnished with this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01    Financial Statements and Exhibits.
(d)Exhibits
Exhibit No.Exhibit Title or Description
99.1
Press Release dated April 8, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
2

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NURIX THERAPEUTICS, INC.
Date: April 8, 2026
By:/s/ Arthur T. Sands
Arthur T. Sands, M.D., Ph.D.
President and Chief Executive Officer
3
Exhibit 99.1
[Nurix logo]                                            

Nurix Therapeutics Reports First Quarter 2026 Financial Results and Provides a Corporate Update
Enrolling Phase 2 DAYBreak CLL-201 bexobrutideg trial designed to support Accelerated Approval in relapsed/refractory chronic lymphocytic leukemia (r/r CLL)
Enabling Phase 3 DAYBreak CLL-306 bexobrutideg confirmatory trial for full approval in r/r CLL
Targeting 2026 IND submission for bexobrutideg in inflammatory and autoimmune indications with a new tablet formulation
Continuing advancement of targeted protein degraders of IRAK4 in Phase 1 and STAT6 in IND-enabling studies under strategic partnerships
Well capitalized with $540.7 million on the balance sheet
BRISBANE, Calif., April 8, 2026 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, today reported financial results for the fiscal quarter ended February 28, 2026, and highlighted continued execution across its registrational program for bexobrutideg, advancement of its broader pipeline, and multiple anticipated clinical and scientific catalysts in 2026.
“Nurix entered 2026 focused on implementing a comprehensive registrational program designed to establish bexobrutideg as a potential best-in-class medicine for patients with chronic lymphocytic leukemia,” said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. “Building on compelling clinical data in oncology, we are also completing a series of healthy volunteer studies to support bexobrutideg’s development in selected immunology and inflammation indications where removal of the BTK protein through targeted protein degradation could offer advantages over BTK inhibitor drugs. Together with the advancement of our partnered degraders of STAT6 with Sanofi and IRAK-4 with Gilead, Nurix’s pipeline includes some of the most exciting new targets in the industry with the potential to address a wide spectrum of autoimmune diseases.”
Program Highlights*
Bexobrutideg
Bexobrutideg is an investigational, orally bioavailable, brain penetrant, highly selective small molecule degrader of BTK for the treatment of relapsed or refractory B-cell malignancies and potentially autoimmune diseases.
•DAYBreak CLL-201
Enrollment is ongoing in the DAYBreak™ CLL-201 pivotal Phase 2 single-arm study (NCT07221500) in patients with r/r CLL, which is designed to support a potential Accelerated Approval submission. The study is enrolling patients whose disease has progressed following treatment with a cBTKi, a BCL-2i, and an ncBTKi inhibitor, representing a population with significant unmet medical need. More information on the Phase 2 trial is available at www.clinicaltrials.gov.
•DAYBreak CLL-306
Nurix plans to initiate a global randomized confirmatory Phase 3 trial by midyear 2026 to support full approval. The Phase 3 study will compare once daily bexobrutideg monotherapy to the most recently approved non-covalent inhibitor, pirtobrutinib, in patients with r/r CLL whose disease has progressed after prior BTK inhibitor therapy.
•NX-5948-301
Nurix continues to enroll select cohorts in the NX-5948-301 Phase 1a/1b clinical trial (NCT05131022) in patients with relapsed or refractory B cell malignancies. The Phase 1b study includes cohorts testing the safety and efficacy of the 600 mg dose of bexobrutideg in earlier lines of therapy in CLL patients. Updated data from this study are anticipated to be presented at upcoming medical meetings throughout 2026. More information on the ongoing Phase 1a/1b trial of bexobrutideg is available at www.clinicaltrials.gov.
•Healthy volunteer SAD/MAD study
Nurix is conducting a Phase 1 single ascending and multiple ascending dose (SAD/MAD) study (NCT06717269) to evaluate pharmacokinetics (PK), pharmacodynamics (PD), and safety of a new tablet formulation of bexobrutideg. This study is intended to support an IND filing and enable expansion into immunology and inflammation indications in 2026. More information on the Phase 1 SAD/MAD trial of bexobrutideg is available at www.clinicaltrials.gov.


Zelebrudomide
Zelebrudomide is an orally bioavailable degrader of BTK and the cereblon neosubstrates IKZF1 (Ikaros) and IKZF3 (Aiolos) designed for the treatment of relapsed or refractory B-cell malignancies. Nurix is conducting a Phase 1a/1b clinical trial (NCT04830137), including a Phase 1b expansion cohort focused on patients with diffuse large B-cell lymphoma and mantle cell lymphoma. Nurix is enrolling in the dose escalation cohort of the Phase 1a/1b trial using the chirally controlled drug product. Additional information on the zelebrudomide clinical trial can be accessed at www.clinicaltrials.gov.
•NX-1607
NX-1607 is an investigational oral inhibitor of the E3 ligase Casitas B-lineage lymphoma proto-oncogene B (CBL-B) being developed for immuno-oncology indications, including a range of solid tumor types and lymphomas. Nurix is evaluating NX-1607 in an ongoing Phase 1 trial (NCT05107674) in adults in a range of oncology indications. This study includes a thorough investigation of both dose and schedule in the Phase 1a portion. Additional information on the NX-1607 clinical trial can be accessed at www.clinicaltrials.gov.
•Strategic collaborations with Gilead, Sanofi and Pfizer
Sanofi continues to advance the STAT6 degrader, NX-3911, in IND-enabling studies. Nurix retains the right to opt-in after clinical proof of concept to a 50/50 U.S. profit share and co-development agreement. Gilead continues to advance the IRAK4 degrader, GS-6791, in an ongoing first-in-human Phase 1 study in healthy volunteers. Nurix retains the right to opt-in after Phase 1 to a 50/50 U.S. profit share and co-development, subject to certain restriction. Nurix anticipates the achievement of substantial research collaboration milestones throughout the terms of its collaborations with Gilead, Sanofi, and Pfizer.
*Expected timing of events throughout this press release is based on calendar year quarters.
Fiscal First Quarter 2026 Financial Results
Revenue for the three months ended February 28, 2026, was $6.3 million compared with $18.5 million for the three months ended February 28, 2025. Revenue from the collaboration with Sanofi decreased as the initial research term for certain drug targets ended.
Research and development expenses for the three months ended February 28, 2026, were $84.1 million compared with $69.7 million for the three months ended February 28, 2025. The increase was primarily related to compensation and related personnel costs, clinical costs and contract manufacturing costs as Nurix continued to accelerate the enrollment of patients in the ongoing Phase 2 trial of bexobrutideg and enable the initiation of Phase 3 trials.
General and administrative expenses for the three months ended February 28, 2026, were $14.6 million compared with $11.7 million for the three months ended February 28, 2025. The increase was primarily due to an increase in compensation and related personnel costs.
Net loss for the three months ended February 28, 2026, was $87.2 million or ($0.79) per share compared with $56.4 million or ($0.67) per share for the three months ended February 28, 2025.
Cash, cash equivalents and marketable securities were $540.7 million as of February 28, 2026, compared to $592.9 million as of November 30, 2025.



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, 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 an AI-integrated discovery engine capable of tackling virtually 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 Brisbane, California. For additional information visit http://www.nurixtx.com.
Forward-Looking Statements
This press release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When or if used in this press release, the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “should,” “will,” and similar expressions and their variants, as they relate to Nurix, may identify forward-looking statements. All statements that reflect Nurix’s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding: Nurix’s future financial or business performance; Nurix’s future plans, prospects and strategies; Nurix’s plans and expectations with respect to its current and prospective drug candidates; Nurix's plans and expectations with respect to the clinical trials for its drug candidates; the tolerability, safety profile, therapeutic potential and other advantages of Nurix’s drug candidates; the planned timing and conduct of Nurix’s clinical trials; the planned timing for the provision of updates and findings from Nurix’s preclinical studies and clinical trials; and the potential benefits of and Nurix’s expectations with respect to its strategic collaborations. Forward-looking statements reflect Nurix’s current beliefs, expectations, and assumptions regarding the future of Nurix’s business, its future plans and strategies, its development plans, its preclinical and clinical results, future conditions and other factors Nurix believes are appropriate in the circumstances. Although Nurix believes the expectations and assumptions reflected in such forward-looking statements are reasonable, Nurix can give no assurance that they will prove to be correct. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, which could cause Nurix’s actual activities and results to differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to: (i) whether Nurix will be able to advance its drug candidates, obtain regulatory approval of and ultimately commercialize its drug candidates; (ii) uncertainties related to the timing and results of preclinical studies and clinical trials; (iii) whether Nurix will be able to fund development activities and achieve development goals; (iv) uncertainties related to the timing and receipt of payments from Nurix’s collaboration partners, including milestone payments and royalties on future product sales; (v) the impact of global business, political and macroeconomic conditions, cybersecurity events, instability in the banking system, and global events, including regional and military conflicts around the world, on Nurix’s business, clinical trials, financial condition, liquidity and results of operations; (vi) whether Nurix will be able to protect intellectual property and (vii) other risks and uncertainties described under the heading “Risk Factors” in Nurix’s Quarterly Report on Form 10-Q for the fiscal quarter ended February 28, 2026, and other SEC filings. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. The statements in this press release speak only as of the date of this press release, even if subsequently made available by Nurix on its website or otherwise. Nurix disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.
Contacts:
Investors
Kris Fortner
Nurix Therapeutics, Inc.
kfortner@nurixtx.com



Sylvia Wheeler
Wheelhouse Life Science Advisors
swheeler@wheelhouselsa.com

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

Kris Fortner
Nurix Therapeutics, Inc.
kfortner@nurixtx.com


Nurix Therapeutics, Inc.
Condensed Statements of Operations
(in thousands, except share and per share amounts)
(unaudited)
Three Months Ended
February 28,
20262025
Revenue:
Collaboration revenue$6,252 $18,453 
Total revenue6,252 18,453 
Operating expenses:
Research and development84,137 69,663 
General and administrative14,610 11,654 
Total operating expenses98,747 81,317 
Loss from operations(92,495)(62,864)
Interest and other income, net5,321 6,513 
Net loss$(87,174)$(56,351)
Net loss per share, basic and diluted$(0.79)$(0.67)
Weighted-average number of shares outstanding, basic and diluted110,071,66883,560,795


Nurix Therapeutics, Inc.
Condensed Balance Sheets
(in thousands)
(unaudited)
February 28,November 30,
20262025
Assets
Current assets:
Cash and cash equivalents$71,195 $246,960 
Marketable securities469,537 345,981 
Prepaid expenses and other current assets13,662 13,878 
Total current assets554,394 606,819 
Operating lease right-of-use assets51,657 50,517 
Property and equipment, net21,697 22,490 
Restricted cash968 968 
Other assets7,414 7,341 
Total assets$636,130 $688,135 
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable$10,293 $11,215 
Accrued expenses and other current liabilities59,950 54,852 
Operating lease liabilities, current3,202 2,824 
Deferred revenue, current18,754 17,580 
Total current liabilities92,199 86,471 
Operating lease liabilities, net of current portion55,453 52,906 
Deferred revenue, net of current portion7,585 10,011 
Total liabilities155,237 149,388 
Stockholders’ equity:
Common stock103 102 
Additional paid-in-capital1,571,134 1,541,766 
Accumulated other comprehensive income56 105 
Accumulated deficit(1,090,400)(1,003,226)
Total stockholders’ equity480,893 538,747 
Total liabilities and stockholders’ equity$636,130 $688,135 

Source: View Original Filing on SEC EDGAR

FAQ

How did Nurix Therapeutics (NRIX) perform financially in fiscal Q1 2026?

Nurix reported fiscal Q1 2026 revenue of $6.3 million, down from $18.5 million a year earlier. Net loss widened to $87.2 million, or ($0.79) per share, reflecting higher research and development and general and administrative expenses as clinical programs advanced.

What is Nurix Therapeutics’ cash position as of February 28, 2026?

As of February 28, 2026, Nurix held $540.7 million in cash, cash equivalents and marketable securities. This balance supports its registrational bexobrutideg program, other wholly owned clinical assets, and partnered degrader programs with Gilead, Sanofi and Pfizer as development progresses.

How did research and development expenses change for Nurix (NRIX) year over year?

Research and development expenses increased to $84.1 million for the quarter ended February 28, 2026, from $69.7 million a year earlier. The rise was mainly driven by compensation, clinical costs and contract manufacturing as Nurix accelerated patient enrollment and prepared Phase 3 trials for bexobrutideg.

What loss per share did Nurix Therapeutics report for fiscal Q1 2026?

Nurix reported a net loss per share of ($0.79) basic and diluted for fiscal Q1 2026, compared with ($0.67) in the prior-year quarter. The deeper per-share loss reflects higher operating expenses associated with advancing multiple clinical and preclinical programs.

How is Nurix advancing its bexobrutideg program for chronic lymphocytic leukemia?

Nurix is enrolling the DAYBreak CLL-201 pivotal Phase 2 trial in relapsed/refractory CLL to support a potential Accelerated Approval. It also plans a global randomized Phase 3 DAYBreak CLL-306 confirmatory trial comparing bexobrutideg to pirtobrutinib for full approval.

What pipeline and collaboration highlights did Nurix (NRIX) provide?

Nurix highlighted bexobrutideg’s oncology and planned immunology indications, the zelebrudomide and NX-1607 oncology programs, and partnered degraders. Sanofi is advancing STAT6 degrader NX-3911 in IND-enabling studies, while Gilead is running a Phase 1 study of IRAK4 degrader GS-6791 in healthy volunteers.

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