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Nurix Therapeutics, Inc. (Nasdaq: NRIX) is a clinical-stage biopharmaceutical company dedicated to discovering, developing, and commercializing innovative therapies that modulate cellular protein levels. Leveraging their proprietary drug discovery platform, DELigase, Nurix focuses on a novel approach to target E3 ubiquitin ligases within the ubiquitin-proteasome system (UPS). This system regulates protein stabilization and degradation, providing therapeutic opportunities across various disease areas.
Founded by experts in the UPS field and initially funded by leading investors such as Third Rock Ventures and The Column Group, Nurix has positioned itself as a leader in developing first-in-class therapies. The company’s pipeline includes drug candidates that target protein degraders of Bruton's tyrosine kinase (BTK) and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B). Their lead product candidate, NX-2127, is an orally available BTK degrader designed to treat relapsed or refractory B-cell malignancies. Another key candidate, NX-1607, is an orally available CBL-B inhibitor aimed at immuno-oncology indications.
Partnering with industry giants like Celgene, Sanofi, Gilead, and Pfizer, Nurix continues to expand its reach and capabilities. One significant collaboration with Sanofi targets the STAT6 pathway, a critical player in type 2 inflammation. The extension of this collaboration underscores the success and productivity of their ongoing research efforts. Nurix’s innovative approach is also evident in their BTK degrader NX-5948, demonstrating promising clinical activity in patients with CNS involvement.
In its recent financial update, Nurix reported strong results for the first quarter of 2024, with increased revenue driven by collaborations and research milestones. Despite reporting a net loss, the company holds substantial cash reserves to support ongoing and future projects. Leadership transitions within Nurix, such as the appointment of Julia P. Gregory as the new board chair, reflect the company’s commitment to strategic growth and innovation.
Headquartered in San Francisco, California, Nurix remains at the forefront of drug discovery and development, aiming to bring transformative therapies to patients with cancer, inflammatory conditions, and other challenging diseases. For more information, visit http://www.nurixtx.com.
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.
Nurix Therapeutics (Nasdaq: NRIX) announced that its CEO, Arthur T. Sands, M.D., Ph.D., will participate in a fireside chat at the 20th Annual Needham Virtual Healthcare Conference on April 14th, 2021, at 11:45 a.m. ET. This event will be available for live viewing through the company’s website in the Investors section. An archived copy of the webcast will be accessible for approximately 30 days post-event. Nurix is focused on developing small molecule therapies targeting protein modulation for cancer and other diseases.
Nurix Therapeutics (NASDAQ: NRIX) is collaborating with Alex’s Lemonade Stand Foundation on a project aimed at developing potential treatments for aggressive childhood cancers, specifically neuroblastoma and medulloblastoma. The initiative is part of an $18.5 million grant from ALSF’s Crazy 8 initiative, designed to promote innovative cancer research. Nurix will leverage its expertise in E3 ligases to identify small-molecule degraders of the MYCN oncoprotein, which is a critical target in these cancers. This collaboration is expected to accelerate drug discovery for previously undruggable targets in pediatric oncology.
Nurix Therapeutics, Inc. (NRIX) announced significant preclinical findings for its CBL-B inhibitor NX-1607, which showed anti-tumor efficacy in models of colorectal and triple negative breast cancers. Data presented at the AACR 2021 meeting indicate that NX-1607, administered with anti-PD-1, notably improved median overall survival and tumor rejection rates. The investigational drug enhances T cell and NK cell activity, suggesting its potential as a first-in-class oral immuno-oncology agent. Nurix plans to initiate clinical trials in the latter half of 2021.
Nurix Therapeutics, Inc. (Nasdaq: NRIX) announced the completion of its public offering of 5,175,000 shares of common stock at $31.00 per share, raising approximately $160.4 million in gross proceeds. This offering included 675,000 shares from the underwriters' option to purchase additional shares. The offering was managed by J.P. Morgan, Piper Sandler, and Stifel, with RBC Capital Markets and Needham & Company also involved. Proceeds are expected to support the company's drug development efforts targeting E3 ligases for cancer treatment.
Nurix Therapeutics, Inc. (Nasdaq: NRIX) announced that CEO Arthur Sands will present at two virtual conferences in March 2021. The first is the Guggenheim Targeted Protein Degradation Day on March 16, where he will participate in a panel discussion from 10:30 - 11:30 AM EDT. The second is the Oppenheimer 31st Annual Healthcare Conference on March 17 at 3:10 - 3:40 PM EDT, featuring a corporate presentation. Both events will be webcast live, with recordings available post-event on the Nurix website.
Nurix Therapeutics (Nasdaq: NRIX) has announced the pricing of its upsized public offering of 4,500,000 shares at $31.00 each, totaling gross proceeds of approximately $139.5 million. The offering, which includes a 30-day option for underwriters to purchase an additional 675,000 shares, is set to close on March 9, 2021. Notably, this offering aims to enhance the company’s financial flexibility to advance its pipeline of targeted protein modulation therapies.
Nurix Therapeutics, Inc. (NASDAQ: NRIX) announced a public offering of 4,000,000 shares of its common stock, with plans to grant underwriters a 30-day option for an additional 600,000 shares. The offering is managed by J.P. Morgan, Piper Sandler, and Stifel, subject to market conditions. A registration statement has been filed with the SEC but is not yet effective, and the offering is only made by means of a prospectus.
Nurix Therapeutics (Nasdaq: NRIX) reported positive developments, including FDA clearance for its first IND application for NX-2127 targeting B-cell malignancies. The company also expanded its collaboration with Sanofi, resulting in a $22 million option exercise payment. Financially, Nurix ended 2020 with $372 million in cash and investments, up from $38.2 million in 2019. However, the company reported a net loss of $43.2 million for the fiscal year. Upcoming clinical trials for NX-2127 and NX-1607 are expected in 2021, indicating a promising year ahead.
Nurix Therapeutics, Inc. (NRIX) announced an expansion of its collaboration with Sanofi, resulting in an additional payment of $22 million. This follows an upfront payment of $55 million received earlier. Sanofi will now explore five targets instead of three within this agreement. Nurix stands to gain up to $2.5 billion in total payments based on milestones in research and development. CEO Arthur T. Sands highlighted the productive nature of the collaboration, emphasizing progress in drug development for challenging diseases.
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