Nurix Therapeutics Reports $44.1 Million Revenue for Quarter Ending May 31, 2025

Nurix Therapeutics, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending May 31, 2025. The company generated total revenue of $44.1 million for the quarter, a substantial increase from $12.1 million in the same period last year. This growth was driven by collaboration revenue of $14.1 million, up from $12.1 million, and a new license revenue of $30 million, marking the first recognition of such revenue. For the six months ending May 31, 2025, total revenue reached $62.5 million, compared to $28.7 million in the prior year, reflecting a year-over-year increase of 118%.

Despite the increase in revenue, Nurix reported a net loss of $43.5 million for the quarter, slightly improved from a loss of $44.5 million in the same quarter of 2024. The company’s operating expenses rose to $92.4 million, up from $60.6 million, primarily due to increased research and development costs associated with ongoing clinical trials and personnel expenses. The accumulated deficit as of May 31, 2025, stood at $838.6 million, reflecting the company's ongoing investment in its drug development pipeline.

Strategically, Nurix has made notable advancements in its clinical programs and collaborations. The company is actively conducting clinical trials for its lead drug candidates, including bexobrutideg and zelebrudomide, which target B-cell malignancies. Additionally, Nurix has secured significant collaboration agreements with major pharmaceutical companies, including Gilead, Sanofi, and Pfizer, which have collectively provided the company with $482 million in non-dilutive financing to date. As of May 31, 2025, Nurix is eligible to receive up to $6.1 billion in potential future payments from these collaborations.

Operationally, Nurix has expanded its workforce and capabilities, with an increase in employee headcount contributing to higher general and administrative expenses. The company reported cash, cash equivalents, and marketable securities totaling $485.8 million as of May 31, 2025, which management believes is sufficient to fund operations for at least the next 12 months. However, the company anticipates needing substantial additional funding to support ongoing clinical trials and further development of its drug candidates. Looking ahead, Nurix remains focused on advancing its clinical programs and exploring additional collaboration opportunities to enhance its financial position and operational capacity.