Nurix Q2 2026: $443.5M Cash, $89.5M Net Loss; Bexobrutideg Data and Roche Deal Progress
NRIX has more than doubled off its 52-week low of $8.195.
Summary
Nurix posted a wider Q2 net loss of $89.5M on lower collaboration revenue, but ended with $443.5M in cash and expects a $700M Roche upfront, bringing pro-forma cash to ~$1.14B. Updated bexobrutideg data showed durable responses and high ORR in CLL, supporting registrational plans.
Key Events · Earnings and Guidance · NRIX
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Q2 2026 Financial Results
Revenue fell to $9.0M from $44.1M a year ago, net loss widened to $89.5M ($0.81/share), and R&D expenses rose to $87.7M as bexobrutideg trials accelerated.
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Strong Cash Position
Cash and marketable securities of $443.5M as of May 31, 2026; pro-forma cash of ~$1.14B including the expected $700M Roche upfront payment, extending runway well beyond key data readouts.
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Bexobrutideg Clinical Data Update
Phase 1a showed median PFS of 22.1 months and ORR of 83% in relapsed/refractory CLL; Phase 1b cohorts demonstrated ORR of 92.9% (BTKi-experienced, BCL2i-naïve) and 84.2% (BTKi-naïve).
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Roche Collaboration Progress
Global co-development deal with up to $2.3B in total payments; $700M upfront expected in Q3 2026 upon antitrust clearance. Nurix shares 40% of development costs and 50% of U.S. profits.
Analysis · NRIX · Life Sciences
Nurix reported Q2 2026 financials with a net loss of $89.5 million, driven by increased R&D spending as it advances bexobrutideg toward pivotal trials. Cash of $443.5 million, plus the expected $700 million Roche upfront, provides a pro-forma runway of ~$1.14 billion — enough to fund operations through key catalysts. Updated Phase 1 data showed durable responses (median PFS 22.1 months, ORR 83%) and strong early-line results (ORR up to 92.9%), reinforcing the drug's best-in-class potential. The Roche collaboration, with up to $2.3 billion in total payments, validates the platform and derisks financing, but the net loss widened and revenue dropped sharply year-over-year, highlighting the burn rate ahead of pivotal readouts.
At the time of this filing, NRIX was trading at $24.82 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $8.20 to $25.09. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.