Thu, Jul 11, 8:09 PM (58 days ago)
Nurix Therapeutics, Inc. reported a net loss of $44.5 million for the quarter ended May 31, 2024, compared to a $24.3 million loss in the same period in 2023. Revenue from collaborations increased slightly to $12.1 million, driven by new agreements, but was offset by the absence of a $20 million license revenue from the previous year. Research and development expenses rose to $48.9 million due to ongoing clinical trials and increased manufacturing costs. General and administrative expenses remained flat at $11.7 million. The company raised $239.4 million through equity financing, bolstering its cash reserves to $452.5 million, expected to fund operations for at least 12 months. Future capital needs will depend on clinical trial progress and regulatory outcomes.