Nurix Therapeutics, Inc. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>Nurix Therapeutics, Inc. filed its Q1 2024 10-Q, detailing financial performance and key agreements.</b>

AI Summary

Nurix Therapeutics, Inc. (NRIX) filed a Quarterly Report (10-Q) with the SEC on April 10, 2024. Nurix Therapeutics, Inc. filed a 10-Q for the period ending February 29, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on November 30th. The filing includes financial data for the periods ending February 29, 2024, November 30, 2023, and February 28, 2023. Key agreements mentioned include the Gilead Agreement and At-The-Market Offerings.

Why It Matters

For investors and stakeholders tracking Nurix Therapeutics, Inc., this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial snapshot of Nurix Therapeutics, Inc., crucial for understanding its financial health and operational progress. The inclusion of details on agreements like the Gilead Agreement and At-The-Market Offerings offers insight into the company's strategic partnerships and capital-raising activities.

Risk Assessment

Risk Level: low — Nurix Therapeutics, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks.

Analyst Insight

Monitor future filings for updates on the Gilead Agreement and the impact of At-The-Market Offerings on the company's financial structure.

Key Numbers

• 2024-02-29 — Period End Date (Reporting period)
• 2023-11-30 — Previous Fiscal Year End (Reporting period)
• 2022-12-01 — Prior Year Q1 Start Date (Comparative period)
• 2023-02-28 — Prior Year Q1 End Date (Comparative period)

Key Players & Entities

• Nurix Therapeutics, Inc. (company) — Filer name
• 2024-02-29 (date) — Period of report
• 2024-04-10 (date) — Filing date
• 2834 (sic) — Standard Industrial Classification
• DE (state) — State of incorporation
• 1130 (fiscal_year_end) — Fiscal year end
• Gilead (company) — Gilead Agreement

FAQ

Key Dates

• 2024-02-29: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-10: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive overview of a company's financial performance during a specific quarter.)

At-The-Market Offerings

A method for public companies to sell shares of their stock directly into the existing stock market. (Indicates a strategy for raising capital through equity sales.)

Gilead Agreement

A specific agreement between Nurix Therapeutics and Gilead Sciences. (Represents a significant partnership that could impact revenue and development pipelines.)

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share NRIX Nasdaq Global Market I

Filing Documents

• nrix-20240229.htm (10-Q) — 1264KB
• nrix-20240229xxex101sanofi.htm (EX-10.1) — 31KB
• nrix-20240229xxex102leasee.htm (EX-10.2) — 27KB
• nrix-20240229x10qxex311.htm (EX-31.1) — 11KB
• nrix-20240229x10qxex312.htm (EX-31.2) — 11KB
• nrix-20240229x10qxex321.htm (EX-32.1) — 8KB
• 0001549595-24-000049.txt (&nbsp;) — 5573KB
• nrix-20240229.xsd (EX-101.SCH) — 37KB
• nrix-20240229_cal.xml (EX-101.CAL) — 49KB
• nrix-20240229_def.xml (EX-101.DEF) — 172KB
• nrix-20240229_lab.xml (EX-101.LAB) — 515KB
• nrix-20240229_pre.xml (EX-101.PRE) — 348KB
• nrix-20240229_htm.xml (XML) — 548KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Loss 3 Condensed Consolidated Statements of Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II. OTHER INFORMATION 35 Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 92 Item 3. Defaults Upon Senior Securities 92 Item 4. Mine Safety Disclosures 92 Item 5. Other Information 92 Item 6. Exhibits 94

SIGNATURES

SIGNATURES 95 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements NURIX THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (unaudited) February 29, 2024 November 30, 2023 Assets Current assets: Cash and cash equivalents $ 49,813 $ 54,627 Marketable securities, current 194,180 233,281 Prepaid expenses and other current assets 6,976 7,595 Total current assets 250,969 295,503 Marketable securities, noncurrent 10,292 7,421 Operating lease right-of-use assets 29,299 31,142 Property and equipment, net 17,871 16,808 Restricted cash 901 901 Other assets 3,342 3,823 Total assets $ 312,674 $ 355,598 Liabilities and stockholders equity Current liabilities: Accounts payable $ 5,918 $ 6,401 Accrued expenses and other current liabilities 28,318 24,970 Operating lease liabilities, current 7,310 7,489 Deferred revenue, current 46,077 48,098 Total current liabilities 87,623 86,958 Operating lease liabilities, net of current portion 21,846 23,125 Deferred revenue, net of current portion 34,457 45,022 Total liabilities 143,926 155,105 Commitments and contingencies (Note 6) Stockholders equity: Preferred stock, $ 0.001 par value— 10,000,000 shares authorized as of February 29, 2024 and November 30, 2023; no shares issued and outstanding as of February 29, 2024 and November 30, 2023 — — Common stock, $ 0.001 par value— 500,000,000 shares authorized as of February 29, 2024 and November 30, 2023; 49,136,954 and 48,718,552 shares issued and outstanding as of February 29, 2024 and November 30, 2023, respectively 49 49 Additional paid-in capital 755,767 746,299 Accumulated other comprehensive loss ( 350 ) ( 655 ) Accumulated deficit ( 586,718 ) ( 545,200 ) Total stockholders equity 168,748 200,493 Total liabilities and stockholders equity $ 312,674 $ 355,598 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Table of Contents NURIX THERAPEUTICS, INC. CONDENSED CONSOL

View Full Filing

View this 10-Q filing on SEC EDGAR