Nurix Reports Q1 Loss, Tops Revenue Estimates Amid FDA Orphan Drug Win

Nurix Therapeutics, Inc. reported a first quarter loss of $0.67 per share, which was better than analysts' expectations of a loss of $0.76, alongside revenue of $18.45 million, surpassing estimates by 26.41%. Despite this positive surprise, Nurix's stock has significantly declined, dropping approximately 49% over the past year. The company highlighted advancements in its drug development pipeline, particularly with its lead drug bexobrutideg, which is set to enter pivotal trials for treating chronic lymphocytic leukemia in 2025. Additionally, Nurix noted increased operating expenses and a rise in net loss compared to the previous year. The company has been actively expanding its collaborations with major pharmaceutical firms like Gilead and Sanofi, which may enhance its development capabilities. Overall, while Nurix has achieved some key milestones, concerns about its financial health and stock performance remain prevalent among investors.