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SAN FRANCISCO - Nurix Therapeutics, Inc. (NASDAQ:NRIX), currently trading at $11.64 with a market capitalization of $890 million, has unveiled promising preclinical data on several drug candidates at the American Association for Cancer Research (AACR) 2025 Annual Meeting in Chicago, highlighting advances in protein degradation therapies for cancer treatment. The company has recently seen significant interest from Wall Street, with InvestingPro data showing 8 analysts revising their earnings estimates upward for the upcoming period.
The company’s bexobrutideg, a brain-penetrant small molecule degrader of Bruton’s tyrosine kinase (BTK), has shown the ability to degrade about 10,000 BTK proteins per hour in vitro, suggesting potential efficacy at lower doses compared to traditional inhibitors. Bexobrutideg is currently undergoing a Phase 1a/b clinical trial for relapsed or refractory B cell malignancies. With a strong current ratio of 6.26 and more cash than debt on its balance sheet, Nurix appears well-positioned to fund its clinical development programs, though InvestingPro analysis indicates the company is quickly burning through its cash reserves.
Additionally, Nurix’s BRAF degrader, NRX-0305, has demonstrated preclinical effectiveness across all three classes of BRAF-mutant cancers, including melanoma, non-small cell lung cancer (NSCLC), and colorectal cancer (CRC). NRX-0305’s ability to penetrate the central nervous system (CNS) and show anti-tumor activity in treatment-resistant models positions it as a potentially significant advancement for patients with limited therapeutic options.
Nurix also presented data from its collaboration with Alex’s Lemonade Stand Foundation to develop treatments for pediatric cancers, such as neuroblastoma and medulloblastoma. The company’s Aurora A kinase (AURKA) degraders, including NRX-4972, were found to be effective in preclinical models, addressing both enzymatic and scaffolding functions of the oncogene.
These findings underscore the potential of Nurix’s DEL-AI platform to create potent, orally available degraders that can overcome limitations of existing cancer treatments and provide new avenues for patients with CNS involvement. The company’s focus on targeted protein degradation medicines aims to improve treatment options for patients with cancer and inflammatory diseases.
Nurix’s pipeline includes other degrader and degrader antibody conjugates (DACs) in preclinical stages, as well as partnered programs with Gilead Sciences, Inc., Sanofi S.A., and Pfizer Inc. The company’s approach combines AI integration with expertise in ligase biology to advance the science of targeted protein degradation.
This report is based on a press release statement from Nurix Therapeutics, Inc. According to InvestingPro analysis, Nurix shows signs of being slightly undervalued based on its Fair Value metrics, with analyst price targets ranging from $16 to $41. For deeper insights into Nurix’s valuation and 10+ additional ProTips, including detailed financial health scores and comprehensive analysis, investors can access the full Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Nurix Therapeutics has received approval from the FDA to initiate Phase 1 clinical trials for its IRAK4 degrader, GS-6791/NX-0479, with trials expected to begin in the second quarter of 2025. This marks a significant milestone in the company’s collaboration with Gilead Sciences, resulting in a $5 million payment to Nurix and potential future milestones totaling $420 million. Meanwhile, UBS has adjusted its price target for Nurix to $30, down from $35, while maintaining a Buy rating, citing increased operating expenses due to upcoming pivotal trials. Stifel has also revised its price target to $35 from $36, maintaining a Buy rating and highlighting Nurix’s lead asset, bexobrutideg, as it advances toward registration for treating chronic lymphocytic leukemia (CLL). Stephens has similarly reduced its price target to $30 from $31, while keeping an Overweight rating, and noted the FDA’s Orphan Drug Designation for bexobrutideg in treating Waldenstrom macroglobulinemia. Nurix’s collaboration with Sanofi has also progressed, achieving milestones and a license extension for a program targeting a transcription factor related to autoimmune diseases. Additionally, Nurix plans to initiate two registrational trials for bexobrutideg in CLL and expects initial Phase 1 data for other drug candidates in 2025. These developments reflect Nurix’s ongoing efforts to advance its pipeline and collaborations.
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