Nurix Therapeutics Files 2023 Annual Report on Form 10-K

Ticker: NRIX · Form: 10-K · Filed: Feb 15, 2024 · CIK: 1549595

Sentiment: neutral

Topics: 10-K, Nurix Therapeutics, Financial Report, Biotechnology, SEC Filing

TL;DR

<b>Nurix Therapeutics filed its 2023 10-K, detailing financial performance and corporate structure.</b>

AI Summary

Nurix Therapeutics, Inc. (NRIX) filed a Annual Report (10-K) with the SEC on February 15, 2024. Nurix Therapeutics, Inc. filed its 2023 Form 10-K on February 15, 2024, reporting on the fiscal year ending November 30, 2023. The company's business address is 1700 Owens Street, Suite 205, San Francisco, CA 94158. Nurix Therapeutics, Inc. was formerly known as Nurix, Inc., with a name change occurring on May 9, 2012. The filing includes financial data for the fiscal years ending November 30, 2023, and November 30, 2022. Key financial statement elements such as common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings are detailed for fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking Nurix Therapeutics, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Nurix Therapeutics' financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The detailed financial statements and disclosures within the 10-K are essential for understanding Nurix's revenue streams, capital structure, and any potential risks or liabilities.

Risk Assessment

Risk Level: medium — Nurix Therapeutics, Inc. shows moderate risk based on this filing. The company operates in the highly competitive and regulated pharmaceutical industry, facing risks related to drug development, clinical trials, regulatory approvals, and market adoption, as evidenced by the nature of a 10-K filing for a biotech firm.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Nurix Therapeutics' financial position and future growth potential.

Key Numbers

Key Players & Entities

FAQ

When did Nurix Therapeutics, Inc. file this 10-K?

Nurix Therapeutics, Inc. filed this Annual Report (10-K) with the SEC on February 15, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Nurix Therapeutics, Inc. (NRIX).

Where can I read the original 10-K filing from Nurix Therapeutics, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Nurix Therapeutics, Inc..

What are the key takeaways from Nurix Therapeutics, Inc.'s 10-K?

Nurix Therapeutics, Inc. filed this 10-K on February 15, 2024. Key takeaways: Nurix Therapeutics, Inc. filed its 2023 Form 10-K on February 15, 2024, reporting on the fiscal year ending November 30, 2023.. The company's business address is 1700 Owens Street, Suite 205, San Francisco, CA 94158.. Nurix Therapeutics, Inc. was formerly known as Nurix, Inc., with a name change occurring on May 9, 2012..

Is Nurix Therapeutics, Inc. a risky investment based on this filing?

Based on this 10-K, Nurix Therapeutics, Inc. presents a moderate-risk profile. The company operates in the highly competitive and regulated pharmaceutical industry, facing risks related to drug development, clinical trials, regulatory approvals, and market adoption, as evidenced by the nature of a 10-K filing for a biotech firm.

What should investors do after reading Nurix Therapeutics, Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to assess Nurix Therapeutics' financial position and future growth potential. The overall sentiment from this filing is neutral.

Risk Factors

Filing Stats: 4,370 words · 17 min read · ~15 pages · Grade level 16 · Accepted 2024-02-15 16:04:30

Key Financial Figures

Filing Documents

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 47 Item 1B. Unresolved Staff Comments 103

Cybersecurity

Item 1C. Cybersecurity 103 Item 2.

Properties

Properties 103 Item 3.

Legal Proceedings

Legal Proceedings 103 Item 4. Mine Safety Disclosures 103 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 104 Item 6. [Reserved] 104 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 105 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 116 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 117 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 147 Item 9A.

Controls and Procedures

Controls and Procedures 147 Item 9B. Other Information 147 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 147 PART III Item 10. Directors, Executive Officers and Corporate Governance 148 Item 11.

Executive Compensation

Executive Compensation 148 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 148 Item 13. Certain Relationships and Related Transactions, and Director Independence 148 Item 14. Principal Accounting Fees and Services 148 PART IV Item 15. Exhibits and Financial Statement Schedules 149 Item 16. Form 10-K Summary 153

Signatures

Signatures 154 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Annual Report on Form 10-K other than statements of historical fact, including statements concerning our business strategy and plans, future operating results and financial position, as well as our objectives and expectations for our future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by such terminology as "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "intend," "could," "would," "project," "plan," "expect" and similar expressions that convey uncertainty of future events or outcomes, although not all forward-looking statements contain these words. Forward-looking statements include, but are not limited to, statements about: the timing and conduct of our clinical trial programs for our lead drug candidates NX-5948, NX-2127 and NX-1607 and other drug candidates, including statements regarding the timing of data and anticipated announcements, the selection of new development candidates and the initiation of clinical trials; the timing of, and our ability to obtain, marketing approvals for our lead drug candidates NX-5948, NX-2127 and NX-1607 and other drug candidates; our plans to pursue research and development of other drug candidates; the timing of investigational new drug application (IND) submissions for our drug candidates; the potential advantages of our DELigase platform, our drug candidates and Degrader-Antibody Conjugates (DACs); the extent to which our scientific approach, our DELigase platform, protein degradation, antibody-drug conjugation, and DACs may potentially address a broad range of diseases; the potential benefits of our arrangements with Gilead Sciences, Inc., Sanofi S.A. and Seagen Inc. (now a part of Pfizer

Business

Item 1. Business When used in this report, unless otherwise indicated, "Nurix," "Company," "we," "us" and "our" refers to Nurix Therapeutics, Inc. and its wholly owned subsidiaries. Overview We are a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of innovative small molecules and antibody therapies based on the modulation of cellular protein levels as a novel treatment approach for cancer, inflammatory conditions and other challenging diseases. Leveraging our extensive expertise in E3 ligases together with our proprietary DNA-encoded libraries, we have built DELigase, an integrated discovery platform to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. Our drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin-proteasome system to selectively decrease or increase cellular protein levels. Our wholly owned, clinical stage pipeline includes targeted protein degraders of Bruton's tyrosine kinase (BTK), a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. Our partnered drug discovery pipeline consists of multiple programs under collaboration agreements with Gilead Sciences, Inc. (Gilead), Sanofi S.A. (Sanofi) and Seagen Inc. (now a part of Pfizer Inc.) (Pfizer), within which we retain certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Our Clinical Development Pipeline Our wholly owned pipeline of Targeted Protein Modulation (TPM) drug candidates comprises three clinical stage programs in our Targeted Protein Degradation (TPD) and Targeted Protein Elevation (TPE) portfolios. These two portfolios demonstrate our ability to either decrease or increase protei

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing