NRIX Nurix Therapeutics Inc.

33.74
+0.13  (+0%)
Previous Close 33.61
Open 33
52 Week Low 15.21
52 Week High 52.38
Market Cap $1,498,962,121
Shares 44,426,856
Float 31,121,458
Enterprise Value $979,660,553
Volume 358,994
Av. Daily Volume 483,892
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Upcoming Catalysts

Drug Stage Catalyst Date
NX-2127
B-cell malignancies
Phase 1
Phase 1
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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.

Latest News

  1. Initiated Phase 1 trial of lead program NX-2127 in patients with relapsed or refractory B-cell malignancies

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

    Strong financial position with $496 million as of May 31, 2021

    SAN FRANCISCO, July 13, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today reported financial results for the second quarter ended May 31, 2021 and provided a corporate update.

    "Our first clinical trial to evaluate NX-2127, an orally bioavailable degrader of Bruton's tyrosine kinase with immunomodulatory drug activity in patients with relapsed or refractory B-cell malignancies…

    Initiated Phase 1 trial of lead program NX-2127 in patients with relapsed or refractory B-cell malignancies

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

    Strong financial position with $496 million as of May 31, 2021

    SAN FRANCISCO, July 13, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today reported financial results for the second quarter ended May 31, 2021 and provided a corporate update.

    "Our first clinical trial to evaluate NX-2127, an orally bioavailable degrader of Bruton's tyrosine kinase with immunomodulatory drug activity in patients with relapsed or refractory B-cell malignancies is actively recruiting, and we anticipate sharing preliminary data from the dose escalation by year-end 2021," said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. "The second half of 2021 promises to be an exciting time for Nurix as we prepare to deliver on our ambitious goal of initiating Phase 1 trials for three additional wholly owned and internally developed drug candidates."

    Recent Business Highlights

    • Expanded the Leadership Team with the Addition of a Chief Operating Officer: Nurix announced the appointment of Stefani A. Wolff as chief operating officer and executive vice president of product development. Ms. Wolff brings to Nurix over 30 years of leadership experience in oncology and immunology most recently from Principia Biopharma Inc., where she served as chief development officer and formerly senior vice president of strategy and operations overseeing Principia's portfolio including Bruton's tyrosine kinase (BTK) targeted agents.

    • Strengthened the Board of Directors with a Highly Successful Biotechnology Executive: Nurix announced the appointment of Clay Siegall, Ph.D., president, chief executive officer and chairman of Seagen (formerly Seattle Genetics, Inc.), to its board of directors. Dr. Siegall is an industry leader with a remarkable track record of success in building Seagen from a drug discovery platform company to a commercial-stage oncology company with multiple products. Dr. Siegall co-founded Seagen in 1998, which today has three FDA-approved medicines and is an industry leader in antibody-drug conjugate technology and development.

    • Presented Preclinical Data Highlighting Activity of NX-5948 in Animal Models of Autoimmune Disease: Nurix presented preclinical data for NX-5948 at the European Alliance of Associations for Rheumatology (EULAR) 2021 Virtual Congress in June 2021. The data presented at the EULAR Congress demonstrate that NX-5948 is a highly selective and potent degrader of BTK in primary human B cells resulting in robust inhibition of B cell activation. Importantly, data obtained from a mouse model of collagen-induced arthritis (CIA) demonstrated that in mice treated with NX-5948, symptoms of arthritis improved, with a significant reduction in arthritis clinical score, superior disease-related symptom control relative to ibrutinib, and similar activity to that of dexamethasone. A copy of the poster can be found on Nurix's website.

    Upcoming Program Highlights

    • NX-2127: Nurix's lead drug candidate from its protein degradation portfolio, NX-2127, is an orally bioavailable degrader of BTK with immunomodulatory drug (IMiD) activity for the treatment of relapsed or refractory B-cell malignancies. Nurix is actively recruiting patients at multiple clinical sites for a Phase 1 clinical trial of NX-2127. Initial pharmacokinetic (PK) and pharmacodynamic (PD) data from the dose escalation portion of the trial is anticipated by year-end 2021 (expected timing of events here and throughout the press release are based on calendar year quarters). 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 bioavailable inhibitor of CBL-B for immuno-oncology indications. Nurix anticipates initiating a Phase 1 trial for NX-1607 in the second half of 2021.

    • NX-5948: Nurix's second drug candidate from its protein degradation portfolio, NX-5948, is an orally bioavailable BTK degrader designed without IMiD activity for certain B-cell malignancies and autoimmune diseases. Nurix anticipates initiating a Phase 1 trial for NX-5948 in patients with hematologic malignancies in the second half of 2021 and is planning for the potential expansion of indications into selected autoimmune diseases in 2022.

    • 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 Second Quarter 2021 Financial Highlights

    Collaboration revenue for the three months ended May 31, 2021 was $7.1 million compared to $4.2 million for the three months ended May 31, 2020. The increase was due to the continued scale up of internal resources and external spending for our collaborations with Sanofi and Gilead as compared to the prior period, resulting in a higher percentage of completion and therefore more revenue recognized in the current period.

    Research and development expenses for the three months ended May 31, 2021 were $26.0 million compared to $14.1 million for the three months ended May 31, 2020. The increase was primarily related to an increase of $5.3 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 $4.7 million attributable to increases in preclinical development activities and drug discovery research and an increase of $1.1 million in clinical costs due to the start of clinical trial patient enrollment.

    General and administrative expenses for the three months ended May 31, 2021 were $7.5 million compared to $3.3 million for the three months ended May 31, 2020. The increase was primarily related to an increase of $3.0 million in compensation related expenses attributable to a higher headcount and higher non-cash stock-based compensation expense. There was also an increase of $1.1 million in consultant and other professional service expenses primarily related to becoming a public company.

    Net loss for the three months ended May 31, 2021 was $26.4 million, or ($0.60) per share, compared to net income of $7.6 million for the three months ended May 31, 2020, or $0.00 per share attributable to common shareholders under accounting rules associated with Nurix preferred shares prior to their conversion to common shares on July 28, 2020.

    Cash, Cash Equivalents and Investments: As of May 31, 2021, Nurix had cash, cash equivalents and investments of $496.5 million compared to $372.0 million as of November 30, 2020. The increase was primarily attributable to the net proceeds of $150.1 million from Nurix's follow-on offering in March 2021.

    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.nurixtx.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, Nurix's Quarterly Report on Form 10-Q filed with the SEC on July 13, 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 May 31, Six Months Ended May 31,
      2021   2020   2021   2020 
    Collaboration revenue$      7,091  $     4,182  $         12,102  $    7,046 
    Operating expenses:       
    Research and development 25,994   14,142   48,997   27,109 
    General and administrative 7,511   3,270   14,041   5,720 
    Total operating expenses 33,505   17,412   63,038   32,829 
    Loss from operations (26,414)  (13,230)  (50,936)  (25,783)
    Interest and other income, net 171   223   489   396 
    Loss before income taxes (26,243)  (13,007)  (50,447)  (25,387)
    Provision (benefit) for income taxes 139   (20,587)  210   (20,576)
    Net income (loss)$   (26,382) $       7,580  $       (50,657) $(4,811)
    Net income (loss) per share attributable to common stockholders, basic$     (0.60) $           --  $          (1.23) $     (1.32)
    Weighted-average number of shares outstanding, basic 43,804,066   3,731,838   41,318,281   3,636,140 
    Net income (loss) per share attributable to common stockholders, diluted$      (0.60) $--  $          (1.23) $    (1.32)
    Weighted-average number of shares outstanding, diluted 43,804,066   26,432,568    41,318,281   3,636,140 



    Nurix Therapeutics, Inc.

    Condensed consolidated balance sheets

    (in thousands)

    (unaudited)

     May 31, November 30,
     2021

     2020

    Assets   
    Current assets:   
    Cash and cash equivalents$188,207  $119,356 
    Short-term investments 197,814   161,792 
    Accounts receivable 2,537    
    Contract assets    7,500 
    Income tax receivable 3,142   3,846 
    Prepaid expenses and other current assets 4,581   5,940 
    Total current assets 396,281   298,434 
    Long-term investments 110,440   90,890 
    Property and equipment, net 8,345   6,672 
    Restricted cash 170   170 
    Other assets 2,745   177 
    Total assets$517,981  $396,343 
    Liabilities and stockholders' equity   
    Current liabilities:   
    Accounts payable$5,405  $3,412 
    Accrued and other current liabilities 7,678   8,328 
    Deferred revenue, current 33,761   32,799 
    Total current liabilities 46,844   44,539 
    Deferred revenue, net of current portion 72,122   60,685 
    Other long-term liabilities 837   850 
    Total liabilities 119,803   106,074 
    Stockholders' equity (deficit):   
    Common stock 44   39 
    Additional paid-in-capital 552,459   393,841 
    Accumulated other comprehensive income 30   87 
    Accumulated deficit (154,355)  (103,698)
    Total stockholders' equity 398,178   290,269 
    Total liabilities and stockholders' equity$517,981  $396,343 


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  2. SAN FRANCISCO, June 21, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that Stefani A. Wolff has joined the company as chief operating officer and executive vice president of product development. Ms. Wolff brings to Nurix over 30 years of leadership experience in oncology and immunology most recently from Principia Biopharma Inc., where she served as chief development officer and formerly senior vice president of strategy and operations overseeing Principia's portfolio including BTK targeted agents. During her tenure at Principia, she successfully guided drug pipeline strategy and led many functions over time, including the company's…

    SAN FRANCISCO, June 21, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that Stefani A. Wolff has joined the company as chief operating officer and executive vice president of product development. Ms. Wolff brings to Nurix over 30 years of leadership experience in oncology and immunology most recently from Principia Biopharma Inc., where she served as chief development officer and formerly senior vice president of strategy and operations overseeing Principia's portfolio including BTK targeted agents. During her tenure at Principia, she successfully guided drug pipeline strategy and led many functions over time, including the company's manufacturing and technical operations, regulatory and quality, clinical operations, project and portfolio management, medical affairs, commercial and communications functions until its acquisition by Sanofi in September, 2020.

    "We are thrilled to have Stefani join our team and believe her leadership, particularly in rapidly growing and maturing organizations, is extremely valuable as we realize the broad potential of our DELigase platform," said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. "Stefani's cross functional experience is particularly aligned with our needs and her addition to the team is timely as we advance our pipeline with multiple promising oncology assets expected to enter clinical development this year."

    "I am thrilled to join Nurix at this exciting time, as we advance four novel drugs into the clinic to address significant unmet needs for patients," said Ms. Wolff. "Nurix's DELigase platform and portfolio of protein modulators represent a truly unique approach with broad applicability, and our focus on oncology and immunology will enable us to find ways to treat these and other difficult conditions."

    Previously, Ms. Wolff worked at Onyx Pharmaceuticals, Inc., where she served as vice president of development and global project team leader, at Genentech, Inc., where she had increasing roles of responsibility over her 13-year tenure in oncology and immunology, and at Eli Lilly & Co., where she served in a number of roles in marketing and sales for over nine years. She is a member of the board of directors of Rain Therapeutics Inc., a clinical-stage precision oncology company. Ms. Wolff earned both her bachelor's degree in chemistry and professional degree in pharmacy from University of North Carolina at Chapel Hill.

    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 Statements

    This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current beliefs and expectations of management. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements concerning Nurix's future plans and prospects, the planned timing of Nurix's clinical trial programs for its drug candidates, the expansion of Nurix's DELigase™ platform and the therapeutic potential of Nurix's platform. Although Nurix believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are subject to risks and uncertainties that may cause Nurix's actual activities or results to differ significantly from those expressed in any forward-looking statement, including the risks and uncertainties described under the heading "Risk Factors" in documents Nurix files from time to time with the Securities and Exchange Commission (SEC) including Nurix's Annual Report on Form 10-K filed with the SEC on February 16, 2021, Nurix's Quarterly Report on Form 10-Q filed with the SEC on April 13, 2021, and other SEC filings. These forward-looking statements speak only as of the date of this press release, and Nurix undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable law.

    Contacts:

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


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  3. Orally available NX-5948 is a potent selective degrader of Bruton's Tyrosine Kinase (BTK) without IMiD activity

    Data were presented at the European Alliance of Associations for Rheumatology (EULAR) 2021 Virtual Congress

    SAN FRANCISCO, June 02, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced the presentation of preclinical data from its NX-5948 program, demonstrating that daily oral dosing of NX-5948 resulted in a robust resolution of symptoms and inflammation in an animal model of arthritis. The data, which support further investigation of NX-5948 for clinical development as a potential treatment for autoimmune disorders, were presented…

    Orally available NX-5948 is a potent selective degrader of Bruton's Tyrosine Kinase (BTK) without IMiD activity

    Data were presented at the European Alliance of Associations for Rheumatology (EULAR) 2021 Virtual Congress

    SAN FRANCISCO, June 02, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced the presentation of preclinical data from its NX-5948 program, demonstrating that daily oral dosing of NX-5948 resulted in a robust resolution of symptoms and inflammation in an animal model of arthritis. The data, which support further investigation of NX-5948 for clinical development as a potential treatment for autoimmune disorders, were presented at the EULAR 2021 Virtual Congress which is being held June 2−5, 2021.

    "NX-5948 demonstrates highly selective, complete and durable BTK degradation activity resulting in profound reduction in inflammation in models of severe arthritis," said Robert J. Brown, M.D., Nurix's senior vice president of clinical development. "We remain on track to initiate clinical trials of NX-5948 in B cell malignancies in the second half of this year and, based on our recent findings, will consider the potential for future expansion of indications into selected autoimmune diseases in 2022."

    "The data presented at this year's EULAR congress highlight the power of Nurix's DELigase platform to generate differentiated products that have the potential to address challenging diseases such as autoimmune disorders," said Arthur T. Sands, M.D., Ph.D., Nurix's chief executive officer. "The unique activities of NX-5948 include its ability to cross the blood-brain barrier in animal models. We plan to further explore this property in models of multiple sclerosis and other central nervous system diseases."

    Aberrant activation of B cells and autoantibody-mediated tissue damage are hallmarks of autoimmune diseases such as rheumatoid arthritis and systemic lupus erythematosus. In B cells and myeloid cells, BTK transduces signals downstream of the B cell receptor (BCR), toll-like receptors, and Fc receptors and its overexpression in B cells leads to hyperactive BCR signaling, plasma cell generation, and autoantibody secretion. This makes degradation of BTK a potentially powerful therapeutic strategy to address autoimmune disease.

    The data presented at the EULAR Congress demonstrate that NX-5948 is a highly selective and potent degrader of BTK in primary human B cells (DC50= 0.034nm) resulting in robust inhibition of anti-IgM- and TLR7-mediated B cell activation. Previous data have demonstrated that NX-5948 lacks IMiD activity with no Cereblon neo-substrate Aiolos degradation at clinically relevant concentrations (DC50>10 micromolar). In vivo studies in both mice and non-human primates (NHPs) demonstrated that a single oral dose of NX-5948 resulted in rapid, dose-dependent, and durable BTK degradation in B cells with BTK levels remaining fully suppressed 24 hours post a single oral dose in NHPs. Importantly, data obtained from a mouse model of collagen-induced arthritis (CIA) demonstrated that in mice treated with NX-5948, symptoms of arthritis improved, with a significant reduction in arthritis clinical score, superior disease-related symptom control relative to ibrutinib, and similar activity to that of dexamethasone. Treatment with NX-5948 also resulted in a reduction in anti-type II collagen titer and serum levels of the pro-inflammatory cytokine, IL-6. Treatment with NX-5948 was well-tolerated and, unlike dexamethasone, did not lead to body weight loss.

    A copy of the poster can be found on the Investor page of the Nurix website under Scientific Presentations.

    About NX-5948

    NX-5948 is an investigational, orally bioavailable, small molecule degrader of BTK that has been designed to lack IMiD activity for potential applications in indications where sparing IMiD activity may be beneficial. NX-5948 has demonstrated the ability to cross the blood brain barrier in animal models, suggesting potential utility in both autoimmune diseases and B-cell malignancies that involve the central nervous system. Nurix is investigating development of NX-5948 for the potential treatment of certain autoimmune diseases as well as certain B-cell malignancies.

    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

    This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current beliefs and expectations of management. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements concerning Nurix's future plans and prospects, the planned timing of Nurix's clinical trial programs for its drug candidates and the expansion of Nurix's DELigase™ platform. Although Nurix believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are subject to risks and uncertainties that may cause Nurix's actual activities or results to differ significantly from those expressed in any forward-looking statement, including the risks and uncertainties described under the heading "Risk Factors" in documents Nurix files from time to time with the Securities and Exchange Commission (SEC) including Nurix's Annual Report on Form 10-K filed with the SEC on February 16, 2021, Nurix's Quarterly Report on Form 10-Q filed with the SEC on April 13, 2021, and other SEC filings. These forward-looking statements speak only as of the date of this press release, and Nurix undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable law.



    Contacts:

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



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  4. SAN FRANCISCO, June 01, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced the appointment of Clay Siegall, Ph.D., to its board of directors. Dr. Siegall is a co-founder of Seagen Inc. (formerly Seattle Genetics, Inc.) and serves as its president, chief executive officer, and chairman of the board.

    "As an experienced industry leader with a remarkable track record of success in building Seagen from a drug discovery platform company to a commercial-stage oncology company with multiple products, Clay brings a wealth of experience that will be extremely valuable as we enter the next phase of Nurix's evolution," said Arthur T. Sands, M.D., Ph.D…

    SAN FRANCISCO, June 01, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced the appointment of Clay Siegall, Ph.D., to its board of directors. Dr. Siegall is a co-founder of Seagen Inc. (formerly Seattle Genetics, Inc.) and serves as its president, chief executive officer, and chairman of the board.

    "As an experienced industry leader with a remarkable track record of success in building Seagen from a drug discovery platform company to a commercial-stage oncology company with multiple products, Clay brings a wealth of experience that will be extremely valuable as we enter the next phase of Nurix's evolution," said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. "I am delighted to welcome Clay to our board and look forward to working with him as we move four programs into the clinic this year and continue to expand our DELigase drug discovery platform."

    "I am pleased to join the Nurix board and look forward to working with the leadership team to help achieve its mission to bring important medicines to patients in need," said Dr. Siegall. "Nurix's novel technology has the potential to provide therapeutic benefit in oncology and autoimmune disease, and the company is well-positioned with promising preclinical data, strategic collaborations, and financial resources to execute on its next phase of growth."

    Dr. Siegall co-founded Seagen in 1998 with a vision to improve the lives of people with cancer by developing targeted therapies to treat major unmet needs. Today, Seagen has three FDA-approved medicines: Adcetris®, Padcev® and Tukysa® and is an industry leader in antibody-drug conjugate (ADC) technology and development. Prior to founding Seagen, Dr. Siegall held positions at the Bristol Myers Squibb Pharmaceutical Research Institute, the National Institutes of Health, and the National Cancer Institute. He has authored more than 70 publications and holds 15 patents. Dr. Siegall holds a B.S. from the University of Maryland and a Ph.D. in Genetics from George Washington University.

    Concurrent with the appointment of Dr. Siegall, Leon Chen, Ph.D., a partner at The Column Group, resigned from the Nurix board, effective May 28, 2021. Nurix thanks Dr. Chen for his support and many contributions to the company during his tenure on the Nurix board.

    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 Statements

    This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current beliefs and expectations of management. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements concerning the expected contributions Dr. Siegall will bring to the Nurix board, Nurix's future plans and prospects, the planned timing of Nurix's clinical trial programs for its drug candidates and the expansion of Nurix's DELigase™ platform. Although Nurix believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are subject to risks and uncertainties that may cause Nurix's actual activities or results to differ significantly from those expressed in any forward-looking statement, including the risks and uncertainties described under the heading "Risk Factors" in documents Nurix files from time to time with the Securities and Exchange Commission (SEC) including Nurix's Annual Report on Form 10-K filed with the SEC on February 16, 2021, Nurix's Quarterly Report on Form 10-Q filed with the SEC on April 13, 2021, and other SEC filings. These forward-looking statements speak only as of the date of this press release, and Nurix undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable law.



    Contacts:

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

     



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  5. SAN FRANCISCO, May 21, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that preclinical data from its NX-5948 program will be presented at the upcoming European Alliance of Associations for Rheumatology (EULAR) 2021 Virtual Congress, which will be held June 2−5, 2021. In a collagen-induced arthritis (CIA) mouse model, administration of NX-5948, an orally bioavailable, small-molecule degrader of Bruton's tyrosine kinase (BTK), led to robust improvement of arthritis symptoms compared to untreated controls. These data support clinical development of NX-5948 for the treatment of autoimmune diseases.

    Abstract Number:POS0006
    Title:NX-5948, a

    SAN FRANCISCO, May 21, 2021 (GLOBE NEWSWIRE) -- Nurix Therapeutics, Inc. (NASDAQ:NRIX), a biopharmaceutical company developing targeted protein modulation drugs, today announced that preclinical data from its NX-5948 program will be presented at the upcoming European Alliance of Associations for Rheumatology (EULAR) 2021 Virtual Congress, which will be held June 2−5, 2021. In a collagen-induced arthritis (CIA) mouse model, administration of NX-5948, an orally bioavailable, small-molecule degrader of Bruton's tyrosine kinase (BTK), led to robust improvement of arthritis symptoms compared to untreated controls. These data support clinical development of NX-5948 for the treatment of autoimmune diseases.

    Abstract Number:POS0006
    Title:NX-5948, a Selective Degrader of BTK, Significantly Reduces Inflammation in a Model of Autoimmune Disease
    Session Title:Adaptive immunity (T cells and B cells) in rheumatic diseases
    Poster Number:1675

    A copy of the abstract can be found on the EULAR Congress website.

    About NX-5948

    NX-5948 is an investigational, orally bioavailable, small molecule degrader of BTK that has been designed to lack IMiD activity for potential applications in indications where sparing IMiD activity may be beneficial. Nurix is investigating development of NX-5948 for the potential treatment of certain autoimmune diseases as well as certain B-cell malignancies.

    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 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, conditions, plans, prospects, trends or strategies and other financial and business matters; Nurix's current and prospective drug candidates; the planned timing and conduct of Nurix's clinical trial programs for its drug candidates, preclinical activities, research and development costs, current and prospective collaborations; the potential advantages of Nurix's DELigase™ platform and drug candidates; the extent to which Nurix's scientific approach and DELigase™ platform may potentially address a broad range of diseases; the estimated size of the market for Nurix's drug candidates; and the timing and success of Nurix's development and commercialization of its 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, Nurix's Quarterly Report on Form 10-Q filed with the SEC on April 13, 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




     



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