Nurix Therapeutics (NRIX) AI Stock Analysis

• Market Cap: $1.70B
• Dividend Yield: N/A
• Average Volume (3M): 1.09M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.48
• Revenue Growth: 48.32%
• EPS Growth: -1.91%
• Country: US
• Employees: 286
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.82
• Shares Outstanding: 102,843,010
• 10 Day Avg. Volume: 1,248,094
• 30 Day Avg. Volume: 1,094,420
• PEG Ratio: -0.94
• Price to Book (P/B): 2.72
• Price to Sales (P/S): 17.45
• P/FCF Ratio: -5.56
• Enterprise Value/Market Cap: 0.76
• Enterprise Value/Revenue: 15.43
• Enterprise Value/Gross Profit: -17.65
• Enterprise Value/Ebitda: -5.04
• 1Y Price Target: $30.50
• Price Target Upside: 84.29% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 14
• EPS Forecast (FY): -3.34
• Revenue Forecast (FY): $62.39M

• Rating: 51 Neutral
• Price Target: $17.50 ▲(5.74% Upside)

The score is held back primarily by heavy losses and very large ongoing cash burn, despite a relatively solid balance sheet. Technicals are neutral-to-soft with the stock below short-term moving averages, while recent corporate updates (positive clinical progress and strengthened liquidity) provide a meaningful offset. Valuation remains difficult to support given negative earnings and no dividend data.

Positive Factors

Clinical efficacy & registrational program

Robust Phase 1 data (83% ORR) and initiation of a pivotal DAYBreak registrational program materially de-risks bexobrutideg. This supports a credible pathway to accelerated approval in relapsed/refractory CLL and underpins long-term commercial and clinical value if confirmatory data hold.

Strengthened liquidity (pro forma cash ~$663.8M)

A sizable post-financing cash position (~$663.8M) provides runway to advance pivotal trials, IND-enabling studies and formulation work. This reduces near-term dilution/refinancing pressure, enabling execution across multiple programs and improving the company’s ability to reach value-inflecting milestones.

Platform validation & partnerships

Strategic collaborations with large pharmas (Gilead, Sanofi) and use of the DEL-AI discovery engine validate Nurix’s targeted degradation platform. Partnerships provide non-dilutive funding, accelerate IND timelines, and create multiple de-risked assets that diversify long-term value drivers beyond a single program.

Negative Factors

High cash burn

Sustained, large negative operating and free cash flow indicate ongoing high cash burn tied to clinical development. Even with recent financing, persistent negative cash conversion necessitates continued capital access, creating dilution or refinancing risk if clinical progress or capital markets weaken.

Large operating losses

Deep operating losses reflect a high R&D cost base and limited revenue scale today. Without successful registrational outcomes and eventual commercialization, losses will likely persist, constraining profitability prospects and requiring sustained capital to bridge to revenue-generating phases.

Rising debt increases financing risk

A marked step-up in debt elevates fixed obligations and refinancing exposure amid heavy cash burn. While equity cushions exist, higher leverage reduces flexibility and raises the risk profile if clinical timelines slip or additional funding becomes more costly, affecting long-term strategic optionality.

Nurix Therapeutics Business Overview & Revenue Model

Company Description

Nurix Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapies for the treatment of cancer and immune disorders. The company develops NX-2127, an orally available Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally available Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications. It also develops NX-0255, a CBL-B inhibitor for ex vivo use to enhance adoptive T-cell therapy; and DeTIL-0255 that is in the Phase 1 clinical trial for the treatment of gynecologic cancers, including ovarian, endometrial, and cervical cancer. The company has a strategic collaboration agreement with Gilead Sciences, Inc. for cancer and other challenging diseases patients; and Sanofi S.A. The company was formerly known as Nurix Inc. and changed its name to Nurix Therapeutics, Inc. in October 2018. The company was incorporated in 2009 and is headquartered in San Francisco, California.

How the Company Makes Money

Nurix Therapeutics generates revenue primarily through a combination of partnerships, collaborations, and funding from research grants. The company often enters into strategic collaborations with larger pharmaceutical companies, which can include upfront payments, milestone payments upon reaching specific development stages, and royalties on future sales of products developed through these partnerships. Additionally, Nurix may receive funding from government grants and investments to support its research and development efforts, contributing to its overall revenue stream. The company's focus on advancing its pipeline of therapeutics also positions it for potential future revenue through the commercialization of its drug candidates.

Nurix Therapeutics Financial Statement Overview

Summary

Revenue rebounded (~35% to ~$84M) but profitability remains very weak with large operating losses (EBIT about -$286M) and a sizable net loss (~-$264M). Cash flow is the main concern, with deeply negative operating cash flow (~-$249.5M) and free cash flow (~-$263.5M), implying ongoing funding needs. The balance sheet is comparatively supportive (equity ~$538.7M vs debt ~$108.6M), though debt stepped up sharply versus the prior year.

Income Statement

Revenue is volatile but improved in the most recent annual period, up ~35% (to ~$84.0M) after a sharp decline in 2024. Despite the rebound, profitability remains weak: the company is deeply loss-making with EBIT of roughly -$286M and net loss of about -$264M in the latest year, indicating a high cost structure relative to current revenue. Earlier years show persistently negative margins and inconsistent gross profit, underscoring ongoing R&D-heavy investment and limited operating leverage at this stage.

Balance Sheet

The balance sheet shows a solid equity base (~$538.7M) versus total debt (~$108.6M) in the latest year, suggesting meaningful loss-absorbing capacity and financial flexibility for a development-stage biotech. Total assets are ~$702.6M, supporting scale versus prior years. The main weakness is a clear step-up in debt in the most recent period (from ~$28.3M in 2024 to ~$108.6M), which increases financing risk if losses and cash burn persist.

Cash Flow

Cash generation remains a key pressure point: operating cash flow is materially negative across the period and worsened in the latest year (about -$249.5M), with free cash flow also deeply negative (about -$263.5M). While free cash flow trends were mixed year-to-year, the overall pattern indicates significant ongoing cash burn that likely requires continued funding support. This raises dilution or refinancing risk if capital markets become less favorable.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	83.98M	54.55M	76.99M	38.63M	29.75M
Gross Profit	65.12M	-167.08M	-112.16M	-145.87M	-86.68M
EBITDA	-244.84M	-205.01M	-148.93M	-179.72M	-115.90M
Net Income	-264.46M	-193.57M	-143.95M	-180.36M	-117.19M
Balance Sheet
Total Assets	688.13M	669.34M	355.60M	416.76M	476.77M
Cash, Cash Equivalents and Short-Term Investments	592.94M	609.58M	287.91M	309.14M	295.72M
Total Debt	55.73M	28.30M	30.61M	11.96M	13.04M
Total Liabilities	149.39M	142.35M	155.10M	113.06M	134.47M
Stockholders Equity	538.75M	526.99M	200.49M	303.70M	342.30M
Cash Flow
Free Cash Flow	-263.47M	-181.86M	-89.77M	-172.05M	-90.03M
Operating Cash Flow	-249.47M	-172.58M	-81.36M	-159.81M	-84.36M
Investing Cash Flow	147.85M	-257.71M	68.30M	27.20M	-108.25M
Financing Cash Flow	238.64M	485.67M	3.22M	117.19M	153.88M

Nurix Therapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 16.55
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRIX, the sentiment is Neutral. The current price of 16.55 is below the 20-day moving average (MA) of 18.33, below the 50-day MA of 18.35, and above the 200-day MA of 12.73, indicating a neutral trend. The MACD of -0.33 indicates Positive momentum. The RSI at 39.95 is Neutral, neither overbought nor oversold. The STOCH value of 17.79 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NRIX.

Nurix Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARVN	61 Neutral	$859.96M	-16.67	-10.17%	―	―	―
VIR	55 Neutral	$1.04B	-2.07	-49.06%	―	-78.55%	7.74%
RLAY	53 Neutral	$1.47B	-4.85	-41.14%	―	-16.50%	33.02%
TERN	52 Neutral	$3.83B	-34.94	-29.12%	―	―	12.45%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
NRIX	51 Neutral	$1.70B	-5.44	-49.63%	―	48.32%	-1.91%

Nurix Therapeutics Corporate Events

Nurix Therapeutics Outlines 2026 Goals and Pipeline Progress

On January 12, 2026, Nurix Therapeutics presented its 2025 performance and 2026 goals at the 44th Annual J.P. Morgan Healthcare Conference, highlighting 2025 as a breakthrough year marked by significant clinical, partnering, and financing milestones. The company reported strong clinical progress for its lead BTK degrader bexobrutideg, including initiation of the pivotal DAYBreak-201 Phase 2 trial in relapsed or refractory chronic lymphocytic leukemia designed to support accelerated approval, alongside previously disclosed data from ASH showing an 83% overall response rate and median progression-free survival of 22.1 months. Nurix also advanced partnered programs, with an IRAK4 degrader in an ongoing Phase 1 study with Gilead, a STAT6 degrader moving into IND-enabling studies with Sanofi, and healthy volunteer studies starting for a new bexobrutideg formulation for inflammatory and immunology indications. Financially, the company strengthened its balance sheet through a $250 million follow-on offering and $47 million in non-dilutive capital from discovery partnerships, ending with pro forma cash and investments of roughly $663.8 million as of late 2025, positioning it to support continued pipeline development and reinforcing its standing in the targeted protein degradation field.

The most recent analyst rating on (NRIX) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on Nurix Therapeutics stock, see the NRIX Stock Forecast page.

Nurix Therapeutics Reports Promising Data at Hematology Meeting

On December 6 and 8, 2025, Nurix Therapeutics announced new clinical data from its Phase 1a/1b study of the BTK degrader bexobrutideg (NX-5948) at the 67th American Society of Hematology Annual Meeting. The data showed promising efficacy and safety results in patients with relapsed or refractory chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and Waldenström macroglobulinemia (WM). The study highlighted an objective response rate of 83% in CLL patients and a disease control rate of 95.7%, with the 600 mg dose showing higher response rates and longer progression-free survival compared to the 200 mg dose. These findings support the advancement of the 600 mg dose into further clinical development, reinforcing bexobrutideg’s potential as a transformative treatment for B-cell malignancies.

The most recent analyst rating on (NRIX) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Nurix Therapeutics stock, see the NRIX Stock Forecast page.

Nurix Therapeutics Appoints Roger Dansey to Board

On November 6, 2025, Nurix Therapeutics appointed Roger Dansey, M.D., to its board of directors and as a member of the Clinical and Commercialization Committee. Dr. Dansey, with a distinguished career in oncology and drug development, is expected to enhance the board’s expertise as Nurix advances its clinical trials and explores new treatments in protein degradation for cancer and autoimmune diseases.

The most recent analyst rating on (NRIX) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on Nurix Therapeutics stock, see the NRIX Stock Forecast page.