Nurix Therapeutics Reports $264.5M Net Loss and $84M Revenue for Fiscal Year Ended November 30, 2025

Nurix Therapeutics, Inc. reported a net loss of $264.5 million for the fiscal year ended November 30, 2025, compared to a net loss of $193.6 million for the previous fiscal year. The company's revenue increased to $84.0 million from $54.5 million in the prior year, driven by collaboration revenue of $54.0 million and license revenue of $30.0 million. As of November 30, 2025, Nurix held $592.9 million in cash, cash equivalents, and marketable securities.

The increase in revenue was primarily due to the recognition of $30.0 million in license revenue from the Sanofi License Extensions and a $6.8 million increase in revenue from the Pfizer collaboration, which was partially offset by decreases in revenue from the Sanofi and Gilead collaborations. Operating expenses rose to $369.6 million, up from $267.6 million in the previous year, reflecting increased investment in research and development activities. Research and development expenses increased by $95.3 million, driven by higher compensation costs, clinical trial expenses, and contract manufacturing costs.

Key operational developments included the ongoing Phase 2 study of bexobrutideg in relapsed or refractory CLL, designed as a potentially pivotal trial for Accelerated Approval in the United States, and the recommencement of enrollment in the Phase 1a/1b study of zelebrudomide following resolution of a partial clinical hold. The company also continued dose escalation in the Phase 1a/1b trial for NX-1607 across a range of solid tumor indications. Nurix has received a total of $482.0 million in non-dilutive funding from its collaborations with Gilead, Sanofi, and Pfizer, and is eligible to receive up to $6.1 billion in potential future fees and milestone payments, as well as royalties on future product sales.

Looking ahead, Nurix intends to advance bexobrutideg into late-stage clinical development, explore its therapeutic applications in inflammatory and autoimmune diseases, and continue the development of zelebrudomide and NX-1607 through dose escalation and cohort expansion. The company also plans to advance its preclinical programs, including its pan-mutant BRAF program, and build a leading platform for the discovery of degrader antibody conjugates. Nurix expects to earn multiple additional preclinical and clinical milestones across its three active partnerships in 2026, which may allow it to secure additional license and development candidate events in 2026 and subsequent years.