Nurix Therapeutics Files 2024 Annual Report

Ticker: NRIX · Form: 10-K · Filed: Jan 28, 2025 · CIK: 1549595

Sentiment: neutral

Topics: annual-report, sec-filing, biotech

Related Tickers: NRIX

TL;DR

NURIX filed its 2024 10-K. Nasdaq: NRIX. All good.

AI Summary

Nurix Therapeutics, Inc. filed its annual report for the fiscal year ended November 30, 2024. The company is a well-known seasoned issuer and is registered with the Nasdaq Global Market under the ticker NRIX. Nurix Therapeutics is incorporated in Delaware and its principal executive offices are located in San Francisco, California.

Why It Matters

This 10-K filing provides a comprehensive overview of Nurix Therapeutics' financial performance and business operations for the fiscal year 2024, crucial for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — This filing is a standard annual report and does not contain immediate, high-impact negative news.

Key Players & Entities

FAQ

What is the primary purpose of this Form 10-K filing?

The primary purpose is to provide an annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended November 30, 2024.

What is Nurix Therapeutics, Inc.'s Commission File Number?

Nurix Therapeutics, Inc.'s Commission File Number is 001-39398.

On which exchange is Nurix Therapeutics, Inc. common stock traded?

Nurix Therapeutics, Inc. common stock is traded on the Nasdaq Global Market.

In which state was Nurix Therapeutics, Inc. incorporated?

Nurix Therapeutics, Inc. was incorporated in Delaware.

What is the address of Nurix Therapeutics, Inc.'s principal executive offices?

The address of Nurix Therapeutics, Inc.'s principal executive offices is 1700 Owens Street, Suite 205, San Francisco, CA 94158.

Filing Stats: 4,350 words · 17 min read · ~15 pages · Grade level 16.5 · Accepted 2025-01-28 16:15:22

Key Financial Figures

Filing Documents

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 50 Item 1B. Unresolved Staff Comments 107

Cybersecurity

Item 1C. Cybersecurity 107 Item 2.

Properties

Properties 108 Item 3.

Legal Proceedings

Legal Proceedings 109 Item 4. Mine Safety Disclosures 109 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 110 Item 6. [Reserved] 111 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 112 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 125 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 126 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 158 Item 9A.

Controls and Procedures

Controls and Procedures 158 Item 9B. Other Information 159 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 159 PART III Item 10. Directors, Executive Officers and Corporate Governance 160 Item 11.

Executive Compensation

Executive Compensation 160 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 160 Item 13. Certain Relationships and Related Transactions, and Director Independence 160 Item 14. Principal Accounting Fees and Services 160 PART IV Item 15. Exhibits and Financial Statement Schedules 161 Item 16. Form 10-K Summary 165

Signatures

Signatures 166 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 DEL-AI platform, our drug candidates and degrader antibody conjugates (DACs); the extent to which our scientific approach, our DEL-AI 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 Inc

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 targeted protein degradation medicines, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and inflammatory diseases. Powered by a fully artificial intelligence (AI)-integrated discovery engine capable of tackling any protein class, and coupled with leading ligase expertise, Nurix has built a significant advantage in translating the science of protein degradation into clinical advancements with the aim of establishing degrader-based treatments at the forefront of patient care. Our wholly owned, clinical stage pipeline includes three investigational drug candidates designed with the goal to be first-in-class or best-in-class therapeutics: NX-5948, a highly selective degrader of Bruton's tyrosine kinase (BTK); NX-2127, a dual degrader of BTK and transcription factors IKZF1(Ikaros) and IKZF3 (Aiolos); and NX-1607, an inhibitor 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. We are also advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates (DACs) in our preclinical pipeline. Our partnered drug discovery pipeline consists of preclinical stage degraders of IRAK4, STAT6 and multiple currently undisclosed targets under collaboration agreements with Gilead Sciences, Inc. (Gilead), Sanofi S.A. (Sanofi) and Pfizer Inc. (Pfizer). Within these collaborations, we retain certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Both our wholly owned and partnered pipelines are driven by our DEL-AI d

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