Nurix Therapeutics, Inc. (NRIX)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$701.9M

Revenue growth

738.8%

Net income, last twelve months

$294.9M

Earnings per share

$2.31

Operating margin

41.3%

Net margin

42.0%

Free cash flow

$369.8M

Return on equity

30.5%

Market value

$3.0B

Price to earnings

11.8x

Dividend yield

0.0%

Cash

$720.2M

Debt

$0

Debt to equity

0.00

Shares outstanding

109.2M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the third quarter of fiscal 2026 results, filed 13 October 2026.

• Roche license lifted revenue. Total revenue was $673.1 million, mainly $653.2 million of Roche license revenue and a $10.0 million Sanofi development milestone, against $7.9 million a year earlier.
• Net income reached $549.8 million. Net income was $549.8 million, or $4.73 per diluted share, compared with a net loss of $86.4 million, or $1.03 per share, a year earlier.
• Nine-month results. For the nine months, total revenue was $688.4 million and net income was $373.1 million, against a nine-month net loss of $186.2 million a year earlier.
• R&D spend eased slightly. R&D expense was $79.3 million, down from $86.1 million, which the company attributed to a cost-sharing offset under the Roche collaboration.
• G&A rose on Roche deal costs. G&A expense was $34.4 million against $13.2 million, reflecting one-time consulting and business development costs tied to the Roche transaction.
• Nine-month R&D and G&A higher. Nine-month R&D expense was $251.0 million against $233.9 million, and nine-month G&A was $64.6 million against $39.1 million a year earlier.
• Roche deal closed, upfront received. The Roche collaboration closed during the quarter and Nurix received its $700 million upfront payment.
• Roche cost and profit split. Development costs are split 40% Nurix and 60% Roche, U.S. profits and losses are shared equally, and Nurix receives tiered royalties on ex-U.S. sales.
• First Phase 3 patient enrolled. The first patient was enrolled in DAYBreak CLL-306, a randomized trial of bexobrutideg against pirtobrutinib with dual primary endpoints of objective response rate and progression-free survival.
• Phase 1a CLL response data. Updated Phase 1a data at EHA showed median progression-free survival of 22.1 months and objective response rate of 83.0% in heavily pretreated patients.
• Tolerability across 142 CLL patients. Across 142 Phase 1a/1b CLL patients, no dose-limiting toxicities or treatment-related Grade 5 events were reported, and 5.6% discontinued for adverse events as of January 1, 2026.
• Combination study recruiting. The Phase 1b/2 NX-5948-203 study began recruiting, with an initial cohort testing bexobrutideg plus venetoclax in CLL/SLL.
• NX-1607 advanced to expansion. NX-1607, an oral CBL-B inhibitor, moved into Phase 1b expansion and a Phase 1a pembrolizumab combination cohort.
• First NX-1607 patients dosed. First patients were enrolled in both NX-1607 cohorts in September 2026, with expansion covering MSS CRC, NSCLC, metastatic CRPC and metastatic melanoma.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2025

Company events

The newest 8-K filings of 79 held.

Every filing

The newest filings with the SEC of 162 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

241 funds held it at 30 Jun 2026: 108 added and 63 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Eli Lilly & Co. (LLY): revenue $79.7B, market value $1.21T
• Johnson & Johnson (JNJ): revenue $99.3B, market value $652.9B
• AbbVie Inc. (ABBV): revenue $64.4B, market value $506.1B
• Merck & Co., Inc. (MRK): revenue $66.6B, market value $348.1B
• Novartis AG (NVS): revenue $54.5B, market value $297.8B
• AstraZeneca PLC (AZN): revenue $58.7B, market value $263.1B
• Abbott Laboratories (ABT): revenue $46.6B, market value $177.7B
• Novo Nordisk A/S (NVO): revenue $46.8B, market value $171.0B
• Pfizer Inc. (PFE): revenue $63.7B, market value $168.0B
• Vertex Pharmaceuticals Inc. (VRTX): revenue $12.6B, market value $134.2B

What the company does

Nurix Therapeutics is a clinical stage biopharmaceutical company that discovers, develops and commercializes targeted protein degradation medicines for cancer and inflammatory diseases. Its wholly owned clinical pipeline has three investigational drug candidates: bexobrutideg (NX-5948), zelebrudomide (NX-2127) and NX-1607. It also runs discovery collaborations with Gilead Sciences, Sanofi and Pfizer. The company does not own or operate manufacturing facilities and relies on contract manufacturers.

What it is developing

Bexobrutideg is an oral degrader of Bruton's tyrosine kinase (BTK) for relapsed or refractory B-cell malignancies. A Phase 2 study called DAYBreak CLL-201 began enrolling in October 2025 in patients with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma who have already received a covalent BTK inhibitor, a BCL2 inhibitor and a non-covalent BTK inhibitor. It uses the 600mg once daily dose and is designed to support Accelerated Approval in the United States. The FDA has granted Fast Track designation for CLL or SLL and for Waldenstrom's macroglobulinemia, and the European Medicines Agency has granted PRIME designation for CLL or SLL.

Zelebrudomide degrades BTK together with two transcription factors, IKZF1 (Ikaros) and IKZF3 (Aiolos). It is in a Phase 1a/1b dose-escalation study, with a focus on aggressive B-cell lymphomas such as diffuse large B-cell lymphoma and mantle cell lymphoma. Enrollment was paused in 2023 after a partial clinical hold tied to a manufacturing change, and it restarted in August 2024 once the FDA resolved the hold. The study is evaluating doses of the new drug form from 100 mg to 450 mg.

NX-1607 is an oral inhibitor of CBL-B, an E3 ligase that regulates T cells and NK cells. It is in a Phase 1a/1b study in solid tumors, including a cohort combined with paclitaxel.

The company also has preclinical degrader and degrader antibody conjugate (DAC) programs. These include a pan-mutant BRAF program for solid tumors.

The discovery engine

The company's discovery platform is called DEL-AI. It combines DNA-encoded library (DEL) screening with machine learning, automated chemistry and direct screening of candidate molecules. The company's library holds over 5 billion DNA-linked compounds, screened in thousands of reactions. The company has screened more than 100 E3 ligases, compared with the two it says are mainly used in the field, cereblon and VHL. Its automated chemistry lets it test hundreds of degrader analogs in each design cycle.

Partnerships

Revenue comes from collaborations that pay fees, milestones and, if products reach the market, royalties.

- Gilead. The June 2019 agreement covers up to five targets. Gilead can license candidates and runs clinical development and commercialization. Nurix can opt to co-develop and co-promote up to two candidates in the United States and share profits. Gilead licensed the IRAK4 degrader program in March 2023, and the FDA cleared an IND for GS-6791/NX-0479 in April 2025. - Sanofi. The collaboration, signed with its subsidiary Genzyme Corporation and effective January 2020, covers five targets. Nurix can opt to co-develop and co-commercialize in the United States for up to two targets. - Pfizer. The September 2023 agreement was made with Seagen, now part of Pfizer. It covers degraders suited to antibody conjugation. Pfizer makes the DACs and develops them. Nurix holds an option for United States profit sharing and co-promotion on two products.

The company retains worldwide rights to its BTK and CBL-B clinical portfolios. It says it intends to become a fully integrated biopharmaceutical company with its own sales force in the United States and possibly other countries.

Manufacturing and supply

Third-party manufacturers supply the drug substance for bexobrutideg, zelebrudomide and NX-1607 and make the finished drug product for clinical trials. All of the company's candidates are small molecules, which the filing says larger than traditional small molecule drugs. The company says that they use readily available starting materials and standard equipment.

Competition

Nurix competes with large pharmaceutical firms, biotechnology companies, academic institutions and research institutes. It is aware of clinical stage BTK degraders from multiple companies and of at least one company developing a clinical stage CBL-B inhibitor. Approved BTK inhibitors and generic therapies are also alternatives.

Patents

As of 31 December 2025, Nurix owns 12 United States patents, 24 United States patent applications, 23 foreign patents and 121 foreign applications. It co-owns three United States patents, eight pending United States applications, five foreign patents and 88 foreign applications with Gilead. Expected patent expirations run from 2039 to 2044 for bexobrutideg, 2039 to 2042 for zelebrudomide and 2040 to 2043 for NX-1607. The company also relies on trade secrets.

*From Nurix Therapeutics's annual report on Form 10-K for the year ended 30 November 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1549595/000154959526000016/nrix-20251130.htm)*

From the company's 10-K.