Nurix Therapeutics Q1 loss widens on higher costs

Nurix Therapeutics

08/04/2026 11:09

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

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$87.17 mln
Q1 Income from Operations
-$92.5 mln
Q1 Operating Expenses
$98.75 mln


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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(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.)