Dosed first patient in registrational Phase 3 DAYBreak CLL-306 trial comparing bexobrutideg with pirtobrutinib in relapsed/refractory CLL/SLL
Advanced bexobrutideg combination strategy with initiation of recruiting for the Phase 1b/2 NX-5948-203 study
Earned $27M from Gilead, Pfizer and Sanofi collaborations, including a $10M milestone from Sanofi for first patient dosed in the STAT6 degrader Phase 1 trial
Advanced NX-1607 into Phase 1b expansion cohorts in MSS CRC, NSCLC, CRPC and melanoma with the first patient dosed in September 2026
Following receipt of the $700 million upfront as part of the close of the Roche collaboration, Nurix has $1.1 billion in cash, cash equivalents and marketable securities, and runway into the second half of 2029
BRISBANE, Calif., Oct. 12, 2026 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, today reported financial results for the fiscal quarter ended August 31, 2026, and highlighted significant corporate updates on partnered clinical programs and its wholly owned oncology portfolio.
“The third quarter marked an important transition for Nurix as we moved bexobrutideg into Phase 3 development in CLL and began executing a broader clinical strategy designed to realize its potential across lines of therapy in both oncology and auto-immune disease,” said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. “At the same time, Sanofi advanced our oral STAT6 degrader into the clinic, and we advanced our CBL-B inhibitor NX-1607 into Phase 1b expansion cohorts across four solid tumor indications.”
Program Highlights*
Oncology Pipeline
Bexobrutideg Global Collaboration with Roche
During the quarter, Nurix and Roche entered into the global collaboration to co-develop and co-commercialize bexobrutideg across malignant hematology, immunology and neurology, cleared the Hart-Scott-Rodino requirement, and began executing with the initiation of the Phase 3 DAYBreak CLL-306 study. The collaboration is designed to support Nurix’s comprehensive clinical development strategy spanning multiple hematologic malignancies and expansion into immune-mediated diseases, including chronic spontaneous urticaria (CSU) and multiple sclerosis (MS). Under the agreement, development costs are shared 40% by Nurix and 60% by Roche; profits and losses in the United States will be shared equally; and Nurix is eligible to receive tiered royalties on ex-U.S. sales.
Bexobrutideg Registrational Development in CLL/SLL
Bexobrutideg Combination Development
Bexobrutideg Clinical Data Presented at EHA 2026
Oncology Portfolio
Immunology and Inflammation Pipeline
Expansion of Bexobrutideg into Immunology and Neurology
Immunology and Inflammation Collaboration Programs
*Expected timing of events throughout this press release is based on calendar year quarters.
Fiscal Third Quarter 2026 Financial Results
Revenue for the three months ended August 31, 2026, was $673.1 million compared with $7.9 million for the three months ended August 31, 2025. The increase was primarily due to $653.2 million of license revenue from the collaboration with Roche and $10.0 million from the achievement of a development milestone from the collaboration with Sanofi.
Research and development expenses for the three months ended August 31, 2026, were $79.3 million compared with $86.1 million for the three months ended August 31, 2025. The decrease was primarily due to the cost sharing offset related to the collaboration with Roche.
General and administrative expenses for the three months ended August 31, 2026, were $34.4 million compared with $13.2 million for the three months ended August 31, 2025. The increase was primarily due to one-time expenses associated with the Roche transaction for consulting costs and business development activities.
Net income for the three months ended August 31, 2026, was $549.8 million, or $4.73 per diluted share, compared with net loss of $86.4 million, or ($1.03) per basic and diluted share, for the three months ended August 31, 2025.
Cash, cash equivalents and marketable securities were $1.1 billion as of August 31, 2026, compared with $592.9 million as of November 30, 2025.
About Bexobrutideg (NX-5948)
Bexobrutideg (NX-5948) is an investigational, orally bioavailable, brain-penetrant, highly selective small-molecule degrader of Bruton’s tyrosine kinase (BTK) being developed by Nurix and Roche across malignant hematology, immunology and neurology.
Bexobrutideg is currently being evaluated in a broad clinical development program in patients with CLL, including DAYBreak CLL-201 (NCT07221500), a pivotal single-arm Phase 2 study in relapsed/refractory CLL; DAYBreak CLL-306 (NCT07516093), a randomized Phase 3 trial comparing bexobrutideg with pirtobrutinib in relapsed/refractory CLL/SLL; NX-5948-203 (NCT07520006), a Phase 1b/2 study evaluating bexobrutideg in combination with venetoclax with or without an anti-CD20 antibody in relapsed/refractory and treatment-naïve CLL; and NX-5948-301 (NCT05131022), a Phase 1a/1b study in relapsed/refractory B-cell malignancies. Additional information about these clinical trials can be found at clinicaltrials.gov.
About Nurix Therapeutics, Inc.
Nurix Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, a new frontier in drug discovery aimed at improving treatment options for patients with cancer and autoimmune diseases. Nurix’s clinical-stage oncology pipeline includes bexobrutideg, a degrader of BTK being co-developed with Roche, 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. Nurix’s autoimmune disease pipeline includes bexobrutideg in collaboration with Roche and clinical-stage degraders of IRAK4 in collaboration with Gilead and STAT6 in collaboration with Sanofi. Nurix is also advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates in its wholly owned preclinical pipeline and under collaboration agreements with Gilead Sciences, Inc., Sanofi S.A. and Pfizer Inc., within which Nurix retains certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Powered by an AI-integrated discovery engine capable of tackling virtually any protein class, and coupled with unparalleled ligase expertise, Nurix’s dedicated team has built a formidable advantage in translating the science of targeted protein degradation into clinical advancements. Nurix aims to establish degrader-based treatments at the forefront of patient care, writing medicine’s next chapter with a new script to outmatch disease. Nurix is headquartered in Brisbane, California. For additional information, visit www.nurixtx.com.
Forward-Looking Statements
This press release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When or if used in this press release, the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “should,” “will,” and similar expressions and their variants, as they relate to Nurix, may identify forward-looking statements. All statements that reflect Nurix’s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding: Nurix’s future financial or business performance; Nurix’s future plans, prospects and strategies; Nurix’s plans and expectations with respect to its current and prospective drug candidates; Nurix’s plans and expectations with respect to the clinical trials for its drug candidates; the tolerability, safety profile, therapeutic potential and other advantages of Nurix’s drug candidates; the planned timing and conduct of Nurix’s clinical trials; the planned timing for the provision of updates and findings from Nurix’s preclinical studies and clinical trials; and the potential benefits of and Nurix’s expectations with respect to its strategic collaborations. Forward-looking statements reflect Nurix’s current beliefs, expectations and assumptions. Although Nurix believes the expectations and assumptions reflected in such forward-looking statements are reasonable, Nurix can give no assurance that they will prove to be correct. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, which could cause Nurix’s actual activities and results to differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to: (i) whether Nurix and its collaborators will be able to advance drug candidates, obtain regulatory approval and ultimately commercialize drug candidates; (ii) uncertainties related to the timing and results of preclinical studies and clinical trials; (iii) the unexpected emergence of adverse events or other undesirable side effects during clinical development; (iv) whether Nurix will be able to fund development activities and achieve development goals, including its obligations under the Nurix-Roche collaboration; (v) uncertainties related to the timing and receipt of payments from Nurix’s collaboration partners, including milestone payments and royalties on future product sales; (vi) whether Nurix and Roche will be able to successfully co-commercialize bexobrutideg in the United States; (vii) whether Nurix will be able to protect its intellectual property; and (viii) other risks and uncertainties described under the heading “Risk Factors” in Nurix’s Quarterly Report on Form 10-Q for the fiscal quarter ended August 31, 2026, and other SEC filings. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. The statements in this press release speak only as of the date of this press release, even if subsequently made available by Nurix on its website or otherwise. Nurix disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.
Contacts:
Investors & Media
Kris Fortner
Nurix Therapeutics, Inc.
kfortner@nurixtx.com
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| Nurix Therapeutics, Inc. Condensed Statements of Operations (in thousands, except share and per share amounts) (unaudited) | |||||||||||||||
| Three Months Ended August 31, | Nine Months Ended August 31, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue: | |||||||||||||||
| Collaboration revenue | $ | 19,908 | $ | 7,894 | $ | 35,203 | $ | 40,403 | |||||||
| License revenue | 653,156 | - | 653,156 | 30,000 | |||||||||||
| Total revenue | 673,064 | 7,894 | 688,359 | 70,403 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 79,260 | 86,120 | 251,049 | 233,879 | |||||||||||
| General and administrative | 34,353 | 13,159 | 64,558 | 39,095 | |||||||||||
| Total operating expenses | 113,613 | 99,279 | 315,607 | 272,974 | |||||||||||
| Income (loss) from operations | 559,451 | (91,385 | ) | 372,752 | (202,571 | ) | |||||||||
| Interest and other income, net | 3,962 | 4,964 | 13,681 | 17,095 | |||||||||||
| Income (loss) before income taxes | 563,413 | (86,421 | ) | 386,433 | (185,476 | ) | |||||||||
| Provision for income taxes | 13,606 | - | 13,335 | 760 | |||||||||||
| Net income (loss) | $ | 549,807 | $ | (86,421 | ) | $ | 373,098 | $ | (186,236 | ) | |||||
| Net income (loss) per share, basic | $ | 4.93 | $ | (1.03 | ) | $ | 3.36 | $ | (2.22 | ) | |||||
| Weighted-average number of shares outstanding, basic | 111,563,067 | 84,159,336 | 110,912,478 | 83,869,469 | |||||||||||
| Net income (loss) per share, diluted | $ | 4.73 | $ | (1.03 | ) | $ | 3.26 | $ | (2.22 | ) | |||||
| Weighted-average number of shares outstanding, diluted | 116,152,771 | 84,159,336 | 114,367,848 | 83,869,469 | |||||||||||
| Nurix Therapeutics, Inc. Condensed Balance Sheets (in thousands) (unaudited) | |||||||
| August 31, | November 30, | ||||||
| 2026 | 2025 | ||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 720,242 | $ | 246,960 | |||
| Marketable securities, current | 328,013 | 345,981 | |||||
| Accounts receivable | 20,000 | - | |||||
| Prepaid expenses and other current assets | 35,437 | 13,878 | |||||
| Total current assets | 1,103,692 | 606,819 | |||||
| Marketable securities, non-current | 14,832 | - | |||||
| Operating lease right-of-use assets | 48,631 | 50,517 | |||||
| Property and equipment, net | 19,407 | 22,490 | |||||
| Restricted cash | 782 | 968 | |||||
| Other assets | 7,954 | 7,341 | |||||
| Total assets | $ | 1,195,298 | $ | 688,135 | |||
| Liabilities and stockholders’ equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 32,984 | $ | 11,215 | |||
| Accrued expenses and other current liabilities | 63,674 | 54,852 | |||||
| Operating lease liabilities, current | 3,241 | 2,824 | |||||
| Deferred revenue, current | 8,610 | 17,580 | |||||
| Deferred collaboration funding, current | 22,233 | - | |||||
| Total current liabilities | 130,742 | 86,471 | |||||
| Operating lease liabilities, net of current portion | 62,091 | 52,906 | |||||
| Deferred revenue, net of current portion | 10,778 | 10,011 | |||||
| Deferred collaboration funding, net of current portion | 23,376 | - | |||||
| Total liabilities | 226,987 | 149,388 | |||||
| Stockholders’ equity: | |||||||
| Common stock | 109 | 102 | |||||
| Additional paid-in-capital | 1,598,540 | 1,541,766 | |||||
| Accumulated other comprehensive income (loss) | (210 | ) | 105 | ||||
| Accumulated deficit | (630,128 | ) | (1,003,226 | ) | |||
| Total stockholders’ equity | 968,311 | 538,747 | |||||
| Total liabilities and stockholders’ equity | $ | 1,195,298 | $ | 688,135 | |||