Nurix Therapeutics | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 9.043 M

Revenue: As of FY2026 Q2, the actual value is USD 9.043 M, missing the estimate of USD 15.29 M.

EPS: As of FY2026 Q2, the actual value is USD -0.81, missing the estimate of USD -0.7264.

EBIT: As of FY2026 Q2, the actual value is USD -89.81 M.

Revenue

Total revenue for Nurix Therapeutics, Inc. for the three months ended May 31, 2026, was $9.0 million, a decrease from $44.1 million for the same period in 2025, primarily attributed to $30 million of license revenue from two Sanofi license extensions in the prior year. Collaboration revenue for the quarter was $9.043 million in 2026, down from $14.056 million in 2025, while license revenue was $0 in 2026 compared to $30.000 million in 2025. For the six months ended May 31, 2026, total revenue was $15.295 million, down from $62.509 million in 2025. Nurix Therapeutics, Inc. earned a $2 million research milestone payment from Sanofi during the second fiscal quarter of 2026.

Operating Expenses

Research and development expenses for the three months ended May 31, 2026, increased to $87.7 million from $78.1 million for the same period in 2025, primarily due to increased clinical and contract manufacturing costs to accelerate patient enrollment in the Phase 2 trial of bexobrutideg and enable Phase 3 trial initiation. General and administrative expenses for the quarter rose to $15.6 million from $14.3 million in 2025, mainly due to higher legal costs related to collaboration and business development activities. Total operating expenses for the three months ended May 31, 2026, were $103.247 million, up from $92.378 million in 2025. For the six months ended May 31, 2026, research and development expenses were $171.789 million compared to $147.759 million in 2025, and general and administrative expenses were $30.205 million compared to $25.936 million in 2025. Total operating expenses for the six months were $201.994 million in 2026 versus $173.695 million in 2025.

Net Loss

Nurix Therapeutics, Inc. reported a net loss of -$89.5 million for the three months ended May 31, 2026, compared to a net loss of -$43.5 million for the same period in 2025. For the six months ended May 31, 2026, the net loss was -$176.709 million compared to -$99.815 million in 2025.

Cash Position

As of May 31, 2026, cash, cash equivalents, and marketable securities totaled $443.5 million, a decrease from $592.9 million as of November 30, 2025. Pro-forma cash, including the expected $700 million upfront payment from the Roche collaboration, was approximately $1.14 billion.

Operational Highlights and Outlook

Nurix Therapeutics, Inc. entered into a global collaboration agreement with Roche for bexobrutideg, with potential total payments of up to $2.3 billion, including an expected $700 million upfront payment in the third fiscal quarter of 2026 upon closing conditions. Development costs for bexobrutideg will be shared 40% by Nurix Therapeutics, Inc. and 60% by Roche, with U.S. profits and losses shared equally, and Nurix Therapeutics, Inc. eligible for tiered royalties on ex-U.S. sales. The company continues to advance its clinical pipeline, with enrollment ongoing in the DAYBreak CLL-201 pivotal Phase 2 trial and preparations for a global randomized Phase 3 confirmatory trial with the first patient dosing anticipated in mid-2026.