Nurix Therapeutics, Inc. NRIX
When used in this report, unless otherwise indicated, "Nurix," "Company," "we," "us" and "our" refers to Nurix Therapeutics, Inc. and its wholly owned subsidiaries.
We are 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 inflammatory diseases. Powered by a fully artificial intelligence (AI)-integrated discovery engine capable of tackling any protein class, and coupled with leading ligase expertise, Nurix has built a significant advantage in translating the science of protein degradation into clinical advancements with the aim of establishing degrader-based treatments at the forefront of patient care. Our wholly owned, clinical stage pipeline includes three investigational drug candidates designed with the goal to be first-in-class or best-in-class therapeutics: bexobrutideg (NX-5948), a highly selective degrader of Bruton's tyrosine kinase (BTK); zelebrudomide (NX-2127), a dual degrader of BTK and transcription factors IKZF1(Ikaros) and IKZF3 (Aiolos); and NX-1607, an inhibitor 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. We are also advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates (DACs) in our preclinical pipeline. Our partnered drug discovery pipeline consists of a clinical stage degrader of IRAK4 (NX-0479/GS-6791), a preclinical stage degrader of STAT6, currently in investigational new drug application (IND), enabling studies, and multiple currently undisclosed targets under collaboration agreements with Gilead Sciences, Inc. (Gilead), Sanofi S.A. (Sanofi) and Pfizer Inc. (Pfizer). Within these collaborations, we retain certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Both our wholly owned and partnered pipelines are driven by our DEL-AI discovery engine which employs advanced machine learning to enable all aspects of discovery, starting with DNA encoded library (DEL) hit-finding and degrader design, followed by automated chemistry synthesis and direct-to-biology screening and optimization, to rapidly generate degraders and DACs as new chemical entity drug candidates. By leveraging hundreds of billions of DEL compound binding signatures derived from thousands of DEL affinity screens collected from a diverse set of highly validated protein targets, our DEL-AI engine can prospectively identify binders as starting points for drug discovery for virtually any pharmaceutically relevant target.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $84.0M | $54.5M | $77.0M | $38.6M | $29.8M | $17.8M | $31.1M | — |
| R&D | $316.9M | $221.6M | $189.1M | $184.5M | $116.4M | $66.5M | $45.0M | — |
| SG&A | $52.7M | $45.9M | $42.9M | $38.0M | $31.2M | $16.3M | $8.3M | — |
| Total operating expenses | $369.6M | $267.6M | $232.1M | $222.5M | $147.6M | $82.8M | $53.4M | — |
| Operating income | -$285.7M | -$213.0M | -$155.1M | -$183.9M | -$117.9M | -$65.0M | -$22.2M | — |
| Pre-tax income | -$263.7M | -$193.3M | -$143.9M | -$180.4M | -$117.1M | -$63.8M | -$21.5M | — |
| Income tax | $760.0K | $270.0K | $0 | $0 | $131.0K | $20.5M | $239.0K | — |
| Net income | -$264.5M | -$193.6M | -$143.9M | -$180.4M | -$117.2M | -$43.2M | -$21.7M | — |
| EPS, basic | -3.05 | -2.88 | -2.65 | -3.71 | -2.73 | — | — | — |
| EPS, diluted | -3.05 | -2.88 | -2.65 | -3.71 | -2.73 | -2.76 | -6.59 | — |
| Shares, diluted (wtd. avg.) | $86.7M | $67.1M | $54.3M | $48.6M | $42.9M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $247.0M | $110.0M | $54.6M | $64.5M | $80.5M | $119.4M | $34.8M | — |
| Short-term investments | — | — | — | $244.7M | $215.2M | $161.8M | $2.9M | — |
| Receivables | — | — | — | $0 | $6.0M | — | — | — |
| Total current assets | $606.8M | $619.4M | $295.5M | $318.4M | $311.1M | $298.4M | $39.4M | — |
| Property, plant and equipment | $22.5M | $17.8M | $16.8M | $17.2M | $11.3M | $6.7M | $3.9M | — |
| Total assets | $688.1M | $669.3M | $355.6M | $416.8M | $476.8M | $396.3M | $44.0M | — |
| Accounts payable | $11.2M | $11.5M | $6.4M | $5.1M | $6.7M | $3.4M | $1.6M | — |
| Total current liabilities | $86.5M | $95.9M | $87.0M | $70.7M | $66.3M | $44.5M | $16.1M | — |
| Total liabilities | $149.4M | $142.3M | $155.1M | $113.1M | $134.5M | $106.1M | $53.6M | — |
| Retained earnings | -$1.00B | -$738.8M | -$545.2M | -$401.3M | -$220.9M | -$103.7M | -$60.5M | — |
| Total equity | $538.7M | $527.0M | $200.5M | $303.7M | $342.3M | $290.3M | -$57.7M | -$36.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$249.5M | -$172.6M | -$81.4M | -$159.8M | -$84.4M | -$80.0K | $601.0K | — |
| Stock-based compensation | $38.0M | $33.9M | $33.7M | $28.1M | $15.8M | $4.3M | $510.0K | — |
| Capital expenditure | $14.0M | $9.3M | $8.4M | $12.2M | $5.7M | $4.6M | $1.7M | — |
| Investing cash flow | $147.9M | -$257.7M | $68.3M | $27.2M | -$108.3M | -$254.4M | $8.5M | — |
| Financing cash flow | $238.6M | $485.7M | $3.2M | $117.2M | $153.9M | $339.0M | $126.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001549595-26-000016.
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