Gilead Extends Nurix Oncology Collaboration for Two More Years, Adds $10M Fee
NRIX has more than doubled off its 52-week low of $8.85.
Summary
Gilead extended the research term for an undisclosed oncology program under its Nurix collaboration by two years, the second such extension. Nurix receives a $10 million extension fee and remains eligible for up to $1.3 billion in total milestone payments, with 50/50 U.S. profit-sharing options on up to two programs. The collaboration has already produced GS-6791, an oral IRAK4 degrader now in Phase 1. This validates the platform and adds non-dilutive cash, though the undisclosed program's stage and potential are unknown. Watch for further program disclosures or milestone achievements.
At the time of this announcement, NRIX was trading at $22.96 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $8.85 to $28.23. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.