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May 31, 2025
Nurix Q2 2025 Earnings Report
Nurix reported a larger revenue and narrower net loss in Q2 2025 compared to the prior year.
Key Takeaways
Nurix significantly increased revenue due to milestone and license payments from collaborations with Sanofi and Gilead, while continuing to invest heavily in R&D as it advances key programs toward pivotal trials.
Revenue jumped to $44.1M from $12.1M driven by milestone and license revenue.
Net loss narrowed to $43.5M from $44.5M despite higher R&D expenses.
Sanofi paid $15M to extend the STAT6 program license.
FDA cleared IND for GS-6791 (IRAK4 degrader) in partnership with Gilead.
Revenue by Segment
Forward Guidance
Nurix expects continued progress in clinical trials and potential milestone achievements in the second half of 2025.
Positive Outlook
- Pivotal trials for bexobrutideg in CLL planned for H2 2025.
- Expanded Phase 1b cohort to include CLL with autoimmune hemolytic anemia.
- Zelebrudomide and NX-1607 updates expected in H2 2025.
- Continued collaboration milestones anticipated with Gilead, Sanofi, and Pfizer.
- Strong cash position of $485.8M to support operations.
Challenges Ahead
- Significant R&D expenses ($78.1M) impacting profitability.
- Net loss remained high at $43.5M.
- Decreased cash and securities from $609.6M to $485.8M.
- No guidance provided on potential commercial timelines.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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