NASDAQ$NRIX
Nurix Therapeutics Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Nurix reported financial results for the third quarter ended August 31, 2020 and provided a corporate update.
Nurix Therapeutics reported a collaboration revenue of $4.1 million for the third quarter of 2020, compared to $10.6 million for the same period in 2019. The company's net loss was $18.5 million, or ($0.59) per share, compared to a net loss of $2.4 million, or ($0.66) per share, for the same period in 2019. As of August 31, 2020, the company had cash, cash equivalents and investments of $395.1 million compared to $38.2 million as of November 30, 2019.
- Completed recent IPO raising approximately $238.5 million in gross proceeds.
- On track for multiple IND filings.
- Strengthened leadership team with key appointments.
- Executing upon its business objectives for 2020 and beyond despite the COVID-19 pandemic.
Headline financials
Revenue & EPS history
Nurix · Revenue · Quarterly
$4.09M
Revenue by segment
Nurix · $4.09M total across 1 segment · Q3 2020
- Collaboration revenue$4.09M-61.4%100.0%
Forward guidance
Nurix is on track to complete and file several investigational new drug applications (INDs).
Tailwinds
- The Company expects to file an IND for NX-2127 with the U.S. Food and Drug Administration (FDA) in late fourth quarter of 2020 or the first quarter of 2021.
- The Company expects to file an IND for NX-1607 with the FDA in the third quarter of 2021.
- The Company anticipates filing an IND with the FDA for NX-5948 in the second half of 2021.
- The Company anticipates filing an IND with the FDA for DeTIL-0255 in the second half of 2021.
- With strategic collaborations, Nurix believes it has the resources needed to steadily advance a broad and deep portfolio of protein modulation drug candidates.
Headwinds
- The decrease in collaboration revenue was attributable to the termination of a collaboration agreement with Celgene Corporation in June 2019, which resulted in no revenue recognition in 2020.
- The increase in research and development expenses was primarily related to increases in preclinical development activities and drug discovery research as well as increases in headcount and higher stock-based compensation expense.
- The increase in general and administrative expenses was primarily related to higher headcount and increased legal and accounting expenses associated with becoming a public company.
- Net loss attributed to common stockholders for the three months ended August 31, 2020 was $18.5 million, compared to a net loss of $2.4 million for the three months ended August 31, 2019.
- Nurix continues to monitor the impact of the COVID-19 pandemic on its operations and the operations of its suppliers, vendors and business partners.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2020
+2.9%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+2.8%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+35.6%
Q1 2023
Best reaction
-13.2%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -4.2% | +4.5% | +5.9% | |
| Q4 2025 | -1.7% | -6.0% | -10.6% | |
| Q3 2025 | -10.1% | -4.7% | +13.4% | |
| Q2 2025 | -4.3% | -11.7% | -16.8% | |
| Q1 2025 | +7.8% | +12.0% | +4.8% | |
| Q4 2024 | +0.5% | -3.1% | -21.0% | |
| Q3 2024 | +15.1% | +18.1% | +25.1% | |
| Q2 2024 | +17.7% | +12.7% | +2.9% | |
| Q1 2024 | -1.5% | -11.6% | -22.7% | |
| Q4 2023 | +7.2% | +9.6% | +42.0% | |
| Q3 2023 | -3.9% | -8.3% | -20.5% | |
| Q2 2023 | -2.2% | -2.3% | -7.3% | |
| Q1 2023 | +35.6% | +29.9% | +14.8% | |
| Q4 2022 | +1.0% | -6.2% | -25.8% | |
| Q3 2022 | -13.2% | -12.6% | +2.5% | |
| Q2 2022 | +22.7% | +10.7% | +34.3% | |
| Q1 2022 | +7.2% | -3.7% | -30.8% | |
| Q4 2021 | -4.6% | +2.3% | -14.1% | |
| Q3 2021 | +0.1% | -1.6% | +18.3% | |
| Q2 2021 | -5.1% | +8.6% | +32.2% | |
| Q2 2020 | -5.1% | +8.6% | +32.2% | |
| Q1 2021 | +12.6% | +9.0% | -5.4% | |
| Q4 2020 | +3.0% | -4.2% | -1.3% | |
| Q3 2020 | -4.7% | +3.8% | +14.4% | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2018 | — | — | — |
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