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Feb 28, 2023
Nurix Q1 2023 Earnings Report
Nurix Therapeutics reported first quarter fiscal year 2023 financial results and provided a corporate update.
Key Takeaways
Nurix Therapeutics reported collaboration revenue of $12.7 million for the first quarter ended February 28, 2023. The company's net loss was $40.7 million, or ($0.75) per share. Cash, cash equivalents and marketable securities totaled $325.6 million as of February 28, 2023.
Gilead licensed NX-0479/GS-6791, a targeted protein degrader of IRAK4, resulting in a $20 million payment.
Expanded therapeutic area potential of protein degradation pipeline with Gilead in rheumatoid arthritis and other inflammatory diseases.
Achieved an additional $7.5 million in research milestones in collaborations with Gilead and Sanofi.
Maintained strong financial position with cash and marketable securities of $325.6 million as of February 28, 2023.