NRIX Nurix Therapeutics Inc.

25.83
-0.12  -0%
Previous Close 25.95
Open 25.9
52 Week Low 15.21
52 Week High 52.38
Market Cap $1,145,494,401
Shares 44,347,441
Float 31,042,043
Enterprise Value $847,743,093
Volume 212,507
Av. Daily Volume 541,557
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Drug Pipeline

Drug Stage Notes
DeTIL-0255
Cellular therapy
Phase 1
Phase 1
Phase 1 trial to be initiated 2H 2021.
NX-5948
B-cell malignancies / graft-versus-host disease
Phase 1
Phase 1
Phase 1 trial to be initiated 2H 2021.
NX-1607
Immuno-oncology indications
Phase 1
Phase 1
Phase 1 trial to be initiated 2H 2021.
NX-2127
B-cell malignancies
Phase 1
Phase 1
Phase 1 trial is enrolling.

Latest News

  1. SAN FRANCISCO, May 11, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that members of Nurix management team will participate in the following conferences in May:

    • RBC Capital Markets Global Healthcare Conference
      Tuesday, May 18th, at 1:20 PM EDT
      Fireside chat: Hans van Houte, Nurix's chief financial officer and Robert J. Brown, M.D., senior vice president of clinical development
    • UBS Global Healthcare Virtual Conference
      Tuesday, May 25th, at 4:00 PM EDT
      Fireside chat: Arthur T. Sands, M.D., Ph.D., Nurix's chief executive officer

    The discussions will be webcast live and may be accessed via a link in the Investors section of the Nurix website…

    SAN FRANCISCO, May 11, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that members of Nurix management team will participate in the following conferences in May:

    • RBC Capital Markets Global Healthcare Conference

      Tuesday, May 18th, at 1:20 PM EDT

      Fireside chat: Hans van Houte, Nurix's chief financial officer and Robert J. Brown, M.D., senior vice president of clinical development

    • UBS Global Healthcare Virtual Conference

      Tuesday, May 25th, at 4:00 PM EDT

      Fireside chat: Arthur T. Sands, M.D., Ph.D., Nurix's chief executive officer

    The discussions will be webcast live and may be accessed via a link in the Investors section of the Nurix website under Events and Presentations. Archived copies of the webcasts will be available on the Nurix website for approximately 30 days after the event.

    About Nurix Therapeutics, Inc.

    Nurix Therapeutics is a biopharmaceutical company focused on the discovery, development, and commercialization of small molecule therapies designed to modulate cellular protein levels as a novel treatment approach for cancer and other challenging diseases. Leveraging Nurix's extensive expertise in E3 ligases together with its proprietary DNA-encoded libraries, Nurix has built DELigase, an integrated discovery platform to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. Nurix's drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin proteasome system to selectively decrease or increase cellular protein levels. Nurix's wholly owned pipeline includes targeted protein degraders of Bruton's tyrosine kinase, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an E3 ligase that regulates T cell activation. Nurix is headquartered in San Francisco, California. For more information, please visit http://www.nurix.com.



    Contacts:

    Investors:Media:
    Jason Kantor, Ph.D.Elizabeth Wolffe, Ph.D.
    Nurix Therapeutics, Inc.Wheelhouse Life Science Advisors

     



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  2. On track to initiate Phase 1 trials for four wholly owned drug candidates in 2021

    Expanded Sanofi collaboration resulting in option exercise payment of $22 million

    Strong financial position after successful $150 million follow-on offering in March 2021

    SAN FRANCISCO, April 13, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today reported financial results for the first quarter ended February 28, 2021 and provided a corporate update.

    "We began 2021 with the initiation of our first clinical trial to evaluate NX-2127, an orally available degrader of Bruton's tyrosine kinase with immunomodulatory drug activity in patients with relapsed or refractory…

    On track to initiate Phase 1 trials for four wholly owned drug candidates in 2021

    Expanded Sanofi collaboration resulting in option exercise payment of $22 million

    Strong financial position after successful $150 million follow-on offering in March 2021

    SAN FRANCISCO, April 13, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today reported financial results for the first quarter ended February 28, 2021 and provided a corporate update.

    "We began 2021 with the initiation of our first clinical trial to evaluate NX-2127, an orally available degrader of Bruton's tyrosine kinase with immunomodulatory drug activity in patients with relapsed or refractory B-cell malignancies," said Dr. Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. "We are on track to initiate Phase 1 trials for three more proprietary drug candidates in 2021 for patients with hematologic malignancies and solid tumors."

    Recent Business Highlights

    • Expanded Strategic Collaboration with Sanofi S.A. (Sanofi): On January 7, 2021, Nurix announced the expansion of its global strategic collaboration with Sanofi to discover, develop and commercialize a pipeline of innovative targeted protein degradation drugs for patients with challenging diseases in multiple therapeutic areas. Sanofi has exercised its option to expand the number of targets in the collaboration agreement from three to a total of five targets. With the expansion, Nurix received a payment of $22 million, in addition to the previously received upfront payment of $55 million.

    • Completed a Public Follow-on Offering: On March 9, 2021, Nurix announced the closing of its underwritten public offering of 5,175,000 shares of common stock, at a public offering price of $31.00 per share, which included 675,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock. The net proceeds to Nurix from the offering were approximately $150 million, after deducting underwriting discounts, commissions and offering expenses.

    • Presented Preclinical Data Highlighting NX-1607: Nurix presented data from its NX-1607 program at the American Association for Cancer Research 2021 annual meeting which is being held virtually over two weeks, April 10-15 and May 17-21. NX-1607, an orally bioavailable, small-molecule inhibitor of Casitas B-lineage lymphoma B (CBL-B), demonstrated significant anti-tumor efficacy in animal models of both colorectal cancer and triple negative breast cancer. Importantly, the combination of NX-1607 and an anti-PD-1 antibody substantially increased the median overall survival and the frequency of long-lasting tumor rejection in these models compared to either single agent alone. The activity of NX-1607 was shown to be dependent on CD8+ T cells and NK cells. A copy of the poster can be found on Nurix's website (link).

    • Announced Collaboration for the Discovery of Novel Drugs to Treat Pediatric Cancers: On March 16, 2021, Nurix announced that it is part of a collaboration sponsored by Alex's Lemonade Stand Foundation (ALSF), a leading funder of pediatric cancer research, to develop a drug to potentially treat aggressive childhood cancers including neuroblastoma and medulloblastoma. Nurix will provide its extensive expertise in E3 ligases and use its proprietary DNA-encoded library to help identify small-molecule degraders of MYCN, a target previously considered undruggable. The program is one of four that are being supported by ALFS's Crazy 8 initiative, which is designed to bring together world-class research talent to accelerate the pace of new cure discovery in childhood cancer.

    Upcoming Program Highlights

    • NX-2127: Nurix's lead drug candidate from its protein degradation portfolio, NX-2127, is an orally available degrader of Bruton's tyrosine kinase (BTK) with immunomodulatory drug (IMiD) activity for the treatment of relapsed or refractory B-cell malignancies. Nurix filed an IND for NX-2127 in December 2020 and received clearance by the U.S. FDA to initiate human clinical trials. Clinical sites are actively recruiting patients for a Phase 1 clinical trial of NX-2127. Additional information on the clinical trial can be accessed at ClinicalTrials.gov (NCT04830137).

    • NX-1607: Nurix's lead drug candidate from its E3 ligase inhibitor portfolio, NX-1607, is an orally available inhibitor of CBL-B for immuno-oncology indications. Nurix anticipates initiating a Phase 1 trial for NX-1607 in the second half of 2021 (expected timing of events here and throughout the press release are based on calendar year quarters).

    • NX-5948: Nurix's second drug candidate from its protein degradation portfolio, NX-5948, is an orally available BTK degrader designed without IMiD activity for certain B-cell malignancies, autoimmune diseases and related diseases such as graft-versus-host disease. Nurix recently disclosed that NX-5948 crosses the blood brain barrier in animal models, further differentiating it from NX-2127. NX-5948 has also demonstrated potent anti-inflammatory activity in an animal model of rheumatoid arthritis. Nurix anticipates initiating a Phase 1 trial for NX-5948 in patients with hematologic malignancies in the second half of 2021.

    • DeTIL-0255: Nurix's lead candidate in its cellular therapy portfolio, DeTIL-0255, is a drug-enhanced adoptive cellular therapy. Nurix anticipates initiating a Phase 1 trial for DeTIL-0255 in the second half of 2021.

    Fiscal First Quarter 2021 Financial Highlights

    Collaboration revenue for the three months ended February 28, 2021 was $5.0 million compared to $2.9 million for the three months ended February 29, 2020. The increase was primarily due to our collaboration with Sanofi, which continued to scale up resources as compared to the prior period, resulting in higher revenue recognition due to a higher percentage of completion in the current period.

    Research and development expenses for the three months ended February 28, 2021 were $23.0 million compared to $13.0 million for the three months ended February 29, 2020. The increase was primarily related to an increase of $4.6 million in compensation and related personnel costs attributable to an increase in headcount and higher non-cash stock-based compensation expense. There was also an increase of $3.5 million attributable to increases in preclinical development activities and drug discovery research and an increase of $1.1 million due to preparation for upcoming clinical activities.

    General and administrative expenses for the three months ended February 28, 2021 were $6.5 million compared to $2.5 million for the three months ended February 29, 2020. The increase was primarily related to an increase of $2.4 million in compensation related expenses attributable to a higher headcount and includes $1.4 million of higher non-cash stock-based compensation expense and an increase of $1.0 million in consultant and other professional service expenses primarily related to becoming a public company.

    Net loss attributed to common stockholders for the three months ended February 28, 2021 was $24.3 million, or ($0.63) per share, compared to a net loss of $12.4 million, or ($3.50) per share, for the three months ended February 29, 2020.

    Cash, Cash Equivalents and Investments: As of February 28, 2021, Nurix had cash, cash equivalents and investments of $380.3 million compared to $372.0 million as of November 30, 2020. Including net proceeds of $150.1 million from the recently completed follow-on offering, Nurix has proforma cash, cash equivalents and investments of $530.4 million.

    About Nurix Therapeutics, Inc.

    Nurix Therapeutics is a biopharmaceutical company focused on the discovery, development, and commercialization of small molecule therapies designed to modulate cellular protein levels as a novel treatment approach for cancer and other challenging diseases. Leveraging Nurix's extensive expertise in E3 ligases together with its proprietary DNA-encoded libraries, Nurix has built DELigase, an integrated discovery platform to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. Nurix's drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin proteasome system to selectively decrease or increase cellular protein levels. Nurix's wholly owned pipeline includes targeted protein degraders of Bruton's tyrosine kinase, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an E3 ligase that regulates T cell activation. Nurix is headquartered in San Francisco, California. For more information, please visit http://www.nurix.com.

    Forward Looking Statement

    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 our future financial or business performance, conditions, plans, prospects, trends or strategies and other financial and business matters; our current and prospective drug candidates; the planned timing and conduct of our clinical trial programs for our drug candidates, preclinical activities, research and development costs, current and prospective collaborations; the potential advantages of our DELigase™ platform and drug candidates; the extent to which our scientific approach and DELigase™ platform may potentially address a broad range of diseases; the estimated size of the market for our drug candidates; and the timing and success of our development and commercialization of our anticipated drug candidates. Forward-looking statements reflect Nurix's current beliefs, expectations, and assumptions regarding the future of Nurix's business, future plans and strategies, its development plans, its preclinical results, future conditions and other factors Nurix believes are appropriate in the circumstances. 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) risks and uncertainties related to Nurix's ability to advance its drug candidates, obtain regulatory approval of and ultimately commercialize its drug candidates; (ii) the timing and results of preclinical and clinical trials; (iii) Nurix's ability to fund development activities and achieve development goals; (iv) the impact of the COVID-19 pandemic on Nurix's business, clinical trials, financial condition, liquidity and results of operations; (v) Nurix's ability to protect intellectual property and (vi) other risks and uncertainties described under the heading "Risk Factors" in Nurix's Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 16, 2021 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:
    Jason Kantor, Ph.D.Elizabeth Wolffe, Ph.D.
    Nurix Therapeutics, Inc.Wheelhouse Life Science Advisors
      

    Nurix Therapeutics, Inc.

    Condensed consolidated statements of operations

    (in thousands, except share and per share amounts)

    (unaudited)

      Three Months Ended
      February 28, February 29,
       2021   2020 
    Collaboration revenue $5,011  $2,864 
    Operating expenses:    
    Research and development  23,003   12,967 
    General and administrative  6,530   2,450 
    Total operating expenses  29,533   15,417 
    Loss from operations  (24,522)   (12,553) 
    Interest and other income, net  318   173 
    Loss before income taxes  (24,204)   (12,380) 
    Provision for income taxes  71   11 
    Net loss $(24,275)  $(12,391) 
    Net loss per share attributable to common stockholders, basic and diluted $(0.63)  $(3.50) 
    Weighted-average number of shares outstanding, basic and diluted  38,777,258   3,539,390 
             
             

    Nurix Therapeutics, Inc.

    Condensed consolidated balance sheets

    (in thousands)

    (unaudited)

      February 28, November 30,
       2021   2020 
    Assets    
    Current assets:    
    Cash and cash equivalents $126,381  $119,356 
    Short-term investments  176,692   161,792 
    Contract assets     7,500 
    Income tax receivable  3,981   3,846 
    Prepaid expenses and other current assets  3,714   5,940 
    Total current assets  310,768   298,434 
    Long-term investments  77,191   90,890 
    Property and equipment, net  6,960   6,672 
    Restricted cash  170   170 
    Other assets  1,571   177 
    Total assets $396,660  $396,343 
    Liabilities and stockholders' equity    
    Current liabilities:    
    Accounts payable $4,388  $3,412 
    Accrued and other current liabilities  10,833   8,328 
    Deferred revenue, current  32,751   32,799 
    Total current liabilities  47,972   44,539 
    Deferred revenue, net of current portion  77,723   60,685 
    Other long-term liabilities  832   850 
    Total liabilities  126,527   106,074 
    Stockholders' equity (deficit):    
    Common stock  39   39 
    Additional paid-in-capital  398,018   393,841 
    Accumulated other comprehensive income  49   87 
    Accumulated deficit  (127,973)  (103,698)
    Total stockholders' equity  270,133   290,269 
    Total liabilities and stockholders' equity $396,660  $396,343 
             


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  3. SAN FRANCISCO, April 07, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that Arthur T. Sands, M.D., Ph.D., Nurix's chief executive officer, will participate in a fireside chat at the 20th Annual Needham Virtual Healthcare Conference on Wednesday, April 14th, 2021 at 11:45 a.m. ET.

    The event will be webcast live and may be accessed via a link in the Investors section of the Nurix website under Events and Presentations. An archived copy of the webcast will be available on the Nurix website for approximately 30 days after the event.

    About Nurix Therapeutics, Inc.
    Nurix Therapeutics is a biopharmaceutical company focused on…

    SAN FRANCISCO, April 07, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that Arthur T. Sands, M.D., Ph.D., Nurix's chief executive officer, will participate in a fireside chat at the 20th Annual Needham Virtual Healthcare Conference on Wednesday, April 14th, 2021 at 11:45 a.m. ET.

    The event will be webcast live and may be accessed via a link in the Investors section of the Nurix website under Events and Presentations. An archived copy of the webcast will be available on the Nurix website for approximately 30 days after the event.

    About Nurix Therapeutics, Inc.

    Nurix Therapeutics is a biopharmaceutical company focused on the discovery, development, and commercialization of small molecule therapies designed to modulate cellular protein levels as a novel treatment approach for cancer and other challenging diseases. Leveraging Nurix's extensive expertise in E3 ligases together with its proprietary DNA-encoded libraries, Nurix has built DELigase, an integrated discovery platform to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. Nurix's drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin proteasome system to selectively decrease or increase cellular protein levels. Nurix's wholly owned pipeline includes targeted protein degraders of Bruton's tyrosine kinase, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an E3 ligase that regulates T cell activation. Nurix is headquartered in San Francisco, California. For more information, please visit http://www.nurix.com.

    Contacts:

    Investors:Media:
    Jason Kantor, Ph.D.Elizabeth Wolffe, Ph.D.
    Nurix Therapeutics, Inc.Wheelhouse Life Science Advisors



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  4. Research focused on targeted degradation of MYCN for the potential treatment of neuroblastoma and medulloblastoma
    Program is one of four in Alex's Lemonade Stand Foundation-funded $18.5 million Crazy 8 Initiative

    SAN FRANCISCO, March 16, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that it is part of a collaboration sponsored by Alex's Lemonade Stand Foundation (ALSF), a leading funder of pediatric cancer research, to develop a drug to potentially treat aggressive childhood cancers including neuroblastoma and medulloblastoma. Nurix will provide its extensive expertise in E3 ligases and use its proprietary DNA-encoded library to help…

    Research focused on targeted degradation of MYCN for the potential treatment of neuroblastoma and medulloblastoma

    Program is one of four in Alex's Lemonade Stand Foundation-funded $18.5 million Crazy 8 Initiative

    SAN FRANCISCO, March 16, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that it is part of a collaboration sponsored by Alex's Lemonade Stand Foundation (ALSF), a leading funder of pediatric cancer research, to develop a drug to potentially treat aggressive childhood cancers including neuroblastoma and medulloblastoma. Nurix will provide its extensive expertise in E3 ligases and use its proprietary DNA-encoded library to help identify small-molecule degraders of MYCN, a target previously considered undruggable. The program is one of four that are being supported by an $18.5 million grant from Alex's Lemonade Stand Foundation's Crazy 8 initiative, which is designed to bring together world-class research talent to accelerate the pace of new cure discovery in childhood cancer. For more information on this initiative see this morning's statement from ALSF.

    "We believe that discovering and developing drugs that target the MYCN oncoprotein has the possibility to make a major difference in the lives of children suffering from neural derived cancers," said Gwenn M. Hansen, Ph.D., Nurix's chief scientific officer. "Bringing forward therapeutics that address difficult to drug targets like MYCN is aligned with Nurix's mission, and we are motivated by the clear unmet need in this pediatric patient population."

    Nurix will collaborate with a pre-eminent global research team to bring drug discovery technology and development expertise to the effort. The program's goal is to identify and evaluate small molecules that promote targeted protein degradation of the transcription factor MYCN to potentially drive tumor destruction. MYCN is a known driver of aggressive pediatric cancers such as neuroblastoma and medulloblastoma. The scientific challenges of targeting MYCN and the approach of this collaboration are outlined in a recent review article: "Drugging the 'undruggable' MYCN oncogenic transcription factor: Overcoming previous obstacles to impact childhood cancers" published online ahead of print edition of Cancer Research (doi: 10.1158/0008-5472.CAN-20-3108).

    About Alex's Lemonade Stand Foundation

    Alex's Lemonade Stand Foundation (ALSF) emerged from the front yard lemonade stand of 4-year-old Alexandra "Alex" Scott, who was fighting cancer and wanted to raise money to find cures for all children with cancer. Her spirit and determination inspired others to support her cause, and when she passed away at the age of 8, she had raised $1 million. Since then, the Foundation bearing her name has evolved into a national fundraising movement. Today, ALSF is one of the leading funders of pediatric cancer research in the U.S. and Canada raising more than $200 million so far, funding over 1,000 research projects and providing programs to families affected by childhood cancer. For more information, visit https://www.alexslemonade.org/.

    About Nurix Therapeutics, Inc.

    Nurix Therapeutics is a biopharmaceutical company focused on the discovery, development, and commercialization of small molecule therapies designed to modulate cellular protein levels as a novel treatment approach for cancer and other challenging diseases. Leveraging Nurix's extensive expertise in E3 ligases together with its proprietary DNA-encoded libraries, Nurix has built DELigase, an integrated discovery platform to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. Nurix's drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin proteasome system to selectively decrease or increase cellular protein levels. Nurix's wholly owned pipeline comprises targeted protein degraders of Bruton's tyrosine kinase, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an E3 ligase that regulates T cell activation. Nurix is headquartered in San Francisco, California. For more information, please visit http://www.nurix.com.

    Forward Looking Statements

    Any statements made in this press release relating to future business performance, conditions, plans, prospects, trends, or strategies and other business matters, including statements regarding our plans to develop targeted protein modulation drugs, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to the Company, may identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions regarding the future of the Company's business, future plans and strategies, its development plans, its preclinical results and other future conditions. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Readers are cautioned that actual results, levels of activity, performance or events and circumstances could differ materially from those expressed or implied in our forward-looking statements due to a variety of factors, including the risks and uncertainties described under the heading "Risk Factors" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 16, 2021 and other SEC filings. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein.



    Contacts:

    Investors:Media:
    Jason Kantor, Ph.D.Elizabeth Wolffe, Ph.D.
    Nurix Therapeutics, Inc.Wheelhouse Life Science Advisors


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  5. CBL-B inhibitor NX-1607 mediates anti-tumor activity through both T cells and NK cells
    Preclinical tumor models support clinical development of NX-1607 as monotherapy or in combination with PD-1 blockade

    SAN FRANCISCO, March 10, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced presentation of data from its NX-1607 program at the American Association for Cancer Research 2021 annual meeting which is being held virtually over two weeks, April 10-15 and May 17-21. NX-1607, an orally bioavailable, small-molecule inhibitor of Casitas B-lineage lymphoma B (CBL-B), demonstrated significant anti-tumor efficacy in animal models of both colorectal…

    CBL-B inhibitor NX-1607 mediates anti-tumor activity through both T cells and NK cells

    Preclinical tumor models support clinical development of NX-1607 as monotherapy or in combination with PD-1 blockade

    SAN FRANCISCO, March 10, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced presentation of data from its NX-1607 program at the American Association for Cancer Research 2021 annual meeting which is being held virtually over two weeks, April 10-15 and May 17-21. NX-1607, an orally bioavailable, small-molecule inhibitor of Casitas B-lineage lymphoma B (CBL-B), demonstrated significant anti-tumor efficacy in animal models of both colorectal cancer and triple negative breast cancer. Importantly, the combination of NX-1607 and an anti-PD-1 antibody substantially increased the median overall survival and the frequency of long-lasting tumor rejection in these models compared to either single agent alone. The activity of NX-1607 is shown to be dependent on CD8+ T cells and NK cells.

    "The emerging data for our first-in-class CBL-B inhibitor demonstrate the unique potential of NX-1607 as an oral immuno-oncology agent with both T cell and NK cell activity," said Gwenn M. Hansen, Ph.D., Nurix's chief scientific officer. "The data that we will present at the AACR meeting support our plans to advance NX-1607, the lead program in our ligase inhibitor portfolio, into a clinical trial in patients with solid tumors in the second half of 2021."

    Abstract Number: 2765
    Title: Small molecule inhibition of the ubiquitin ligase CBL-B results in potent T and NK cell mediated anti-tumor response
    Session Title: Combination Immunotherapies
    Poster Number: 1595

    The E3 ubiquitin ligase CBL-B is expressed in T cells where it functions as an important negative regulator of immune activation. CBL-B attenuates T-cell activation initiated by TCR engagement in part by mediating the requirement for CD28 co-stimulation, thus setting the threshold for T cell activation. CD4+ and CD8+ T cells from mice deficient in Cbl-b have 5 to 10-fold enhanced secretion of IL-2 and IFN-gamma when stimulated ex vivo with anti-CD3. Cbl-b deficient mice also demonstrate enhanced NK cell function.

    NX-1607 is an investigational, orally bioavailable, small molecule inhibitor of CBL-B. NX-1607 treatment leads to stimulatory effects on human immune cells at low nanomolar concentrations. NX-1607 induction of IL-2 and IFN-gamma secretion occurs in primary human T cells stimulated with anti-CD3 antibodies, in both the presence and absence of CD28 co-stimulation. In vivo, oral administration of NX-1607 in mice demonstrated significant tumor growth inhibition in two colon carcinoma tumor models, CT26 and MC38, as well as a triple negative breast tumor model, 4T1. The change in tumor microenvironment caused by NX-1607 treatment leads to rapid NK cell infiltration followed by infiltration of activated CD8+ T cells. Depletion of CD8+ T cells or NK cells completely abrogated NX-1607 antitumor activity.

    Importantly, the combination of NX-1607 and anti-PD-1 can substantially increase the median overall survival and the frequency of complete tumor rejections in all three tumor models. These studies provide significant insights into the antitumor activity of this novel, small molecule E3 ligase inhibitor and deliver experimental support for clinical development of NX-1607 given as monotherapy or in combination with PD-1 blockade.

    About Nurix Therapeutics, Inc.

    Nurix Therapeutics is a biopharmaceutical company focused on the discovery, development, and commercialization of small molecule therapies designed to modulate cellular protein levels as a novel treatment approach for cancer and other challenging diseases. Leveraging Nurix's extensive expertise in E3 ligases together with its proprietary DNA-encoded libraries, Nurix has built DELigase, an integrated discovery platform to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. Nurix's drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin proteasome system to selectively decrease or increase cellular protein levels. Nurix's wholly owned pipeline comprises targeted protein degraders of Bruton's tyrosine kinase, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an E3 ligase that regulates T cell activation. Nurix is headquartered in San Francisco, California. For more information, please visit http://www.nurix.com.

    Forward Looking Statements

    Any statements made in this press release relating to future business performance, conditions, plans, prospects, trends, or strategies and other business matters, including statements regarding our plans to develop targeted protein modulation drugs, the timing of initiation of clinical trials and availability of clinical data, and our ability to advance multiple wholly owned drugs into clinical development, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to the Company, may identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions regarding the future of the Company's business, future plans and strategies, its development plans, its preclinical results and other future conditions. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Readers are cautioned that actual results, levels of activity, performance or events and circumstances could differ materially from those expressed or implied in our forward-looking statements due to a variety of factors, including the risks and uncertainties described under the heading "Risk Factors" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 16, 2021 and other SEC filings. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein.

    Contacts: 
    Investors:Media:
    Jason Kantor, Ph.D.Elizabeth Wolffe, Ph.D.
    Nurix Therapeutics, Inc.Wheelhouse Life Science Advisors



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