Nurix Therapeutics, Inc. (NRIX) FY2025 10-K Annual Report
Nurix Therapeutics, Inc. (NRIX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Jan 28, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Nurix Therapeutics, Inc. FY2025 10-K Analysis
Business Overview
- • Clinical stage biopharma focused on targeted protein degradation using AI-integrated DEL-AI platform for oncology, inflammation, and immunology treatments
- • Advanced lead BTK degrader bexobrutideg in Phase 2 pivotal trial with FDA Fast Track and EMA PRIME designations for relapsed/refractory CLL and WM
- • Resumed Phase 1 study of dual BTK/Ikaros/Aiolos degrader zelebrudomide after FDA partial clinical hold lifted in 2024
- • $482M non-dilutive funding through collaborations with Gilead, Sanofi, Pfizer; potential $6.1B future milestones and royalties
- • Introduced oral CBL-B inhibitor NX-1607 in Phase 1 trials for solid tumors and gained UK Innovation Passport in 2022 for accelerated market access
Management Discussion & Analysis
- • No revenue figures or profitability metrics disclosed in provided text
- • No segment performance data available
- • No cash flow, buyback, dividend, or capex details included
- • Forward-looking statements mention risks and uncertainties without specific guidance or outlook
Risk Factors
- • Regulatory risk: FDA partial clinical hold on zelebrudomide enrollment in 2023 due to manufacturing change, lifted in August 2024
- • Macroeconomic risk: Uncertainty from inflation, interest rates, tariffs, debt ceiling risks, and global conflict impacts clinical trials, supply chain, personnel
- • Operational risk: Dependency on third-party manufacturing for chirally controlled zelebrudomide form critical to ongoing Phase 1b dose escalation
- • Market disruption risk: Competitive threat from established BTK inhibitors and non-covalent BTK inhibitors used in relapsed/refractory CLL patients
- • Financial risk: Net losses of $264.5 million in FY 2025 with $592.9 million cash runway for only 12 months, needing substantial additional capital beyond that
Nurix Therapeutics, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$84M
▲ +54.0% YoY
Net Income
-$264M
▼ -36.6% YoY
Operating Margin
-340.2%
▲ +5036bp YoY
Net Margin
-314.9%
▲ +3995bp YoY
ROE
-49.1%
▼ -1236bp YoY
Total Assets
$688M
▲ +2.8% YoY
EPS (Diluted)
$-3.05
▼ -5.9% YoY
Operating Cash Flow
-$249M
▼ -44.5% YoY
Source: XBRL data from Nurix Therapeutics, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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