Nurix Therapeutics Inc · Q4 2022 earnings

Briefing

Reported financial results for the fourth quarter and fiscal year ended November 30, 2022 and provided a corporate update.

Nurix Therapeutics reported collaboration revenue of $6.8 million for the quarter and a net loss of $46.7 million, or ($0.87) per share. The company's cash, cash equivalents and marketable securities totaled $373.0 million as of November 30, 2022.

• NX-2127 overcomes BTK inhibitor resistance mutations and provides clinical benefit to patients with hematological malignancies
• Achieved significant milestones in wholly owned clinical programs and partnered preclinical programs
• Maintained strong financial position with year-end cash and marketable securities totaling $373 million
• Presented multiple posters highlighting data from Nurix’s Casitas B-lineage lymphoma proto-oncogene (CBL-B) inhibitor programs at the Society for Immunotherapy of Cancer (SITC) Annual Meeting

Headline financials

Revenue & EPS history

Nurix anticipates presenting additional clinical results for NX-2127 in the second half of 2023 and defining a regulatory strategy based on emerging clinical data and FDA feedback. Initial clinical data from the Phase 1a portion of the NX-5948 study is expected in the second half of 2023, with a dose defined for Phase 1b cohort expansion. Clinical data from the Phase 1a portion of the NX-1607 study is expected in the second half of 2023, with a dose defined for Phase 1b cohort expansion. Nurix expects to select a new targeted protein degrader development candidate in 2023 and continue to achieve substantial research collaboration milestones throughout 2023 with Gilead Sciences and Sanofi.