NRIX · Nurix Therapeutics, Inc.

Nurix Therapeutics reported a significant widening in its net loss for the first quarter of fiscal 2026, driven by a sharp decline in collaboration revenue and increased operating expenses. Revenue dropped to $6.3 million from $18.5 million in the prior year period, primarily attributed to the conclusion of the initial research term for certain drug targets under the Sanofi collaboration agreement. Concurrently, research and development expenses rose 21% to $84.1 million, reflecting the company's strategic investment in accelerating patient enrollment for the Phase 2 DAYBreak CLL-201 trial of bexobrutideg and preparations for Phase 3 initiation. General and administrative expenses also increased to $14.6 million, largely due to higher personnel costs. The combined impact resulted in a net loss of $87.2 million, or $0.79 per share, compared to a loss of $56.4 million, or $0.67 per share, in the same quarter last year. Despite the operational burn, the company maintains a robust liquidity position with $540.7 million in cash, cash equivalents, and marketable securities as of February 28, 2026. Management emphasized the execution of the registrational program for bexobrutideg in relapsed/refractory CLL, with plans to initiate a global randomized Phase 3 confirmatory trial by mid-2026. Additionally, the company is advancing a new tablet formulation of bexobrutideg targeting inflammatory and autoimmune indications, with an IND submission targeted for 2026. Strategic partnerships with Gilead and Sanofi continue to progress, with the IRAK4 degrader GS-6791 in Phase 1 and the STAT6 degrader NX-3911 in IND-enabling studies.