Nurix Therapeutics Posts Better-Than-Expected Q2 Results Revenue Soars On Sanofi And Gilead Payments

Shares of Nurix Therapeutics jumped on Wednesday after the biotech company reported stronger-than-expected results for the second quarter (Q2), bolstered by payments related to development milestones with both Sanofi and Gilead Sciences.

The stock rose 7.9% on Wednesday and climbed another 13.9% after-hours.

The company reported a net loss of $0.52 per share for the quarter ended May 31, above analyst estimates of a loss of $0.74 per share. 

Nurix also recorded revenue of $44.1 million, exceeding estimates of $17.5 million. 

A large chunk of that came from a $30 million license payment from Sanofi and a $5 million milestone tied to a Gilead-supported clinical program.

Spending also increased as the company pushed ahead with its lead drug candidates. 

Research and development costs climbed to $78.1 million, up from $48.9 million a year earlier, while administrative expenses rose to $14.3 million from $11.7 million.

The company shared new data from an early-stage trial of bexobrutideg, a BTK degrader it's developing for certain blood cancers. 

Among patients with relapsed or treatment-resistant chronic lymphocytic leukemia, the treatment showed a response rate of 80.9%, with no serious heart issues or other safety red flags reported.

Nurix finished the quarter with $485.8 million in cash and investments. The figure doesn't include an additional $19 million it received shortly after the quarter ended from its partners.

Looking ahead, the company plans to start late-stage trials of bexobrutideg later this year. 

It's also expecting more clinical updates from other programs in its pipeline, including NX-2127 and NX-1607.

On Stocktwits, retail sentiment was 'bullish' amid 'extremely high' message volume.

One user noted that Nurix's Q2 loss of $0.52 per share came in about 30% better than analyst expectations, and added that the stock could see another strong session tomorrow.

Nurix Therapeutics' stock has declined 32.4% so far in 2025.

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