Nurix Therapeutics (NRIX) Q4 2025 earnings summary

Executive summary

• Initiated pivotal DAYBreak Phase 2 study for bexobrutideg in relapsed/refractory CLL, with regulatory alignment on dose selection and strong Phase 1 data showing 83% ORR and 22.1 months PFS.

• Presented new clinical and preclinical data across pipeline, including promising results for bexobrutideg in Waldenström macroglobulinemia and IRAK4 degrader GS-6791 in collaboration with Gilead.

• Strengthened balance sheet with $250M equity offering, ending the year with $592.9M in cash and marketable securities.

• Appointed Roger Dansey, M.D., to the Board, adding oncology expertise.

Financial highlights

• Fiscal Q4 2025 revenue was $13.6M; full-year revenue was $84.0M, up from $54.5M in 2024, driven by $30M in Sanofi license extensions and milestone payments from Sanofi, Pfizer, and Gilead.

• R&D expenses rose to $83.0M for Q4 and $316.9M for the year, reflecting increased clinical activity.

• Net loss for Q4 was $78.2M ($0.82/share); full-year net loss was $264.5M ($3.05/share), compared to $193.6M ($2.88/share) in 2024.

• Cash and marketable securities totaled $592.9M at year-end, down from $609.6M a year earlier.

Outlook and guidance

• Ongoing enrollment in pivotal DAYBreak Phase 2 study for CLL, with plans to initiate a global Phase 3 confirmatory trial in 2026.

• Continued advancement of bexobrutideg in autoimmune and inflammatory diseases, with Phase 1b and healthy volunteer studies underway.

• Anticipated updates from collaborations with Gilead, Sanofi, and Pfizer, and further clinical milestones expected in 2026.