Nurix Q3 2023 Earnings Report
Key Takeaways
Nurix Therapeutics reported revenue of $18.5 million and a net loss of $37.0 million for the third quarter of fiscal year 2023. The company highlighted a strategic collaboration with Seagen, resulting in a $60 million upfront payment, and maintained a strong financial position with cash runway into the second quarter of 2025.
Announced strategic collaboration with Seagen to develop a portfolio of Degrader-Antibody Conjugates, resulting in a $60 million upfront payment.
Achieved an additional $8 million in research milestones for the quarter, resulting in milestone and license fee payments totaling $35.5 million year-to-date from Gilead and Sanofi.
Maintained strong financial position with cash runway into the second quarter of 2025.
Expanded its Phase 1a trial of NX-1607 to include a combination with paclitaxel.
Nurix
Nurix
Nurix Revenue by Segment
Forward Guidance
With the receipt of the $60 million upfront payment, Nurix expects that its existing cash, cash equivalents and marketable securities, excluding any future potential milestones from collaborations, will be sufficient to fund its operating activities into the second quarter of 2025.