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Nov 30, 2021
Nurix Q4 2021 Earnings Report
Nurix reported fourth quarter and fiscal year 2021 financial results.
Key Takeaways
Nurix Therapeutics reported a net loss of $37.7 million, or $0.85 per share, for the fourth quarter ended November 30, 2021. The company's collaboration revenue was $7.4 million, and research and development expenses were $36.5 million. Nurix ended the year with $432.9 million in cash, cash equivalents and investments.
Advanced four wholly owned and internally developed programs into clinical development
Strengthened balance sheet with year-end cash and investments totaling $433 million
Anticipate multiple clinical milestones in 2022
Initiated Phase 1 clinical development for four wholly owned and internally developed drug candidates
Nurix
Nurix
Forward Guidance
Nurix plans to initiate the Phase 1b expansion phase of its ongoing Phase 1a/1b clinical trial of NX-2127 in adults with relapsed or refractory B-cell malignancies in mid-2022 and to present additional data from Phase 1a in the second half of 2022. Nurix expects to begin dosing at multiple clinical centers in the United Kingdom in the first half of 2022 and to have initial safety and PK/PD data from the Phase 1a portion of the study in the second half of 2022.
Positive Outlook
- Initiate Phase 1b expansion phase of NX-2127 trial in mid-2022
- Present additional data from Phase 1a of NX-2127 trial in second half of 2022
- Begin dosing NX-5948 at multiple clinical centers in the UK in the first half of 2022
- Have initial safety and PK/PD data from Phase 1a portion of NX-5948 study in the second half of 2022
- Have initial PK/PD data from the Phase 1a stage of the NX-1607 study, including biomarker and safety data, in mid-2022
Challenges Ahead
- Risks and uncertainties related to Nurix’s ability to advance its drug candidates
- Risks and uncertainties related to Nurix’s ability to obtain regulatory approval of and ultimately commercialize its drug candidates
- Risks and uncertainties related to the timing and results of preclinical studies and clinical trials
- Risks and uncertainties related to Nurix’s ability to fund development activities and achieve development goals
- Risks and uncertainties related to the impact of the COVID-19 pandemic on Nurix’s business, clinical trials, financial condition, liquidity and results of operations