Nurix Therapeutics Q2 revenue falls sharply, net loss widens; strikes up to $2.3 bln collab with Roche

Nurix Therapeutics

09/07/2026 21:11

Overview
U.S. biopharma firm's Q2 revenue fell sharply from prior yr due to lower license revenue
Net loss widened in Q2 as R&D expenses rose with increased clinical trial activity
Company announced global collaboration with Roche for BTK degrader, including $700 mln upfront payment

Outlook
Nurix expects to receive $700 mln upfront payment from Roche in Q3 2026
Company plans Phase 2 trials in CSU and MS as part of Roche collaboration
Nurix anticipates presenting updated clinical data from ongoing trials throughout 2026

Result Drivers
LOWER LICENSE REVENUE - Q2 revenue fell mainly due to absence of $30 mln in license revenue from Sanofi extensions recorded in prior yr
HIGHER CLINICAL COSTS - R&D expenses increased mainly due to higher clinical and contract manufacturing costs as Nurix accelerated enrollment in ongoing Phase 2 and prepared for Phase 3 trials
MILESTONE PAYMENT - Nurix earned a $2 mln milestone payment from Sanofi under its collaboration during the quarter

Company press release: ID:nGNX5Bzv23

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
 
-$89.54 mln
 
Q2 Income from Operations
 
-$94.20 mln
 
Q2 Operating Expenses
 
$103.25 mln
 
Q2 Pretax Profit
 
-$89.81 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 1 "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 $32.00, about 31.6% above its July 8 closing price of $24.31

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)