Nurix Therapeutics Q1 loss widens on higher costs

Overview

• US biopharmaceutical firm's fiscal Q1 revenue fell sharply yr/yr as collaboration revenue declined

• Operating expenses for fiscal Q1 rose, driven by higher personnel and clinical trial costs

• Net loss widened in fiscal Q1 compared to prior year

Outlook

• Nurix plans to start a global Phase 3 trial for bexobrutideg by mid-2026

• Company targets 2026 IND submission for bexobrutideg in inflammatory and autoimmune indications

• Nurix anticipates substantial research collaboration milestones in 2026 with Gilead, Sanofi, and Pfizer

Result Drivers

• COLLABORATION REVENUE DROP - Revenue from Sanofi collaboration decreased as initial research term for certain drug targets ended

• HIGHER CLINICAL COSTS - Research and development expenses rose due to increased personnel, clinical, and manufacturing costs as bexobrutideg trials accelerated

• INCREASED ADMINISTRATIVE EXPENSES - General and administrative expenses rose mainly due to higher personnel costs

Company press release: ID:nGNXvjWN6

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Nurix Therapeutics Inc is $30.00, about 83.5% above its April 7 closing price of $16.35

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