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
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)
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