Nurix licenses IRAK4 degrader to Gilead for $20M; Q1 net loss $40.7M

Nurix Therapeutics, Inc.

2023-Q1 EPS reported -$0.75 revenue$12,685,000

Gilead exercised option to license NX-0479/GS-6791, triggering $20M payment; up to $425M in milestones plus tiered royalties up to low double-digits.
Q1 collaboration revenue $12.7M (up from $9.6M); net loss $40.7M ($0.75/share) vs $42.5M ($0.95) YoY.
Cash and marketable securities $325.6M as of Feb 28, 2023, down from $373.0M at Nov 30, 2022.
Achieved $7.5M in research milestones from Gilead ($6.5M) and Sanofi ($1.0M) during the quarter.
Anticipates presenting Phase 1 clinical data for NX-2127, NX-5948, and NX-1607 in H2 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nurix Therapeutics, Inc. reported financial results for first quarter ended February 28, 2023.

Period: first quarter ended February 28, 2023
Result: reported results

Exact text from the filing

On April 13, 2023, 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, 2023.

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Source: SEC EDGAR

accession 0001549595-23-000030

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