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Aug 31
Nurix Q3 2025 Earnings Report
Nurix posted a wider net loss in Q3 as R&D investments accelerated ahead of pivotal trials.
Key Takeaways
Nurix Therapeutics reported Q3 FY25 results with lower revenue and a larger net loss compared to the prior year, as the company increased spending to support the clinical advancement of its pipeline, including bexobrutideg.
Revenue fell to $7.9M from $12.6M YoY due to lower Sanofi collaboration revenue
Net loss widened to $86.4M from $49.0M YoY
R&D expenses increased significantly to support trial readiness for bexobrutideg
Strong liquidity position with $428.8M in cash and marketable securities
Nurix
Nurix
Nurix Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
Nurix plans to initiate pivotal trials for bexobrutideg in Q4 2025, expand into autoimmune indications, and continue advancing its partnered programs.
Positive Outlook
- Pivotal trials for bexobrutideg to launch in Q4 2025
- Promising efficacy data in CLL and WM from Phase 1 studies
- Strong pipeline progress in IRAK4 and STAT6 programs
- Cash runway supported by $428.8M liquidity
- Ongoing milestone potential from Gilead, Sanofi, and Pfizer partnerships
Challenges Ahead
- Significant increase in R&D spending
- Net loss nearly doubled YoY
- Revenue declined due to wind-down of some Sanofi projects
- No license revenue recognized in the quarter
- High G&A expenses driven by personnel costs