Business
Nurix Therapeutics Reports Third Quarter Fiscal 2020 Financial Results and Provides a Corporate Update
Completed recent IPO raising approximately $238.5 million in gross proceeds On track for multiple IND filings SAN FRANCISCO, Oct. 14, 2020 (GLOBE NEWSWIRE) --
About this update from Nurix Therapeutics, Inc.
[{"type":"text","content":"Completed recent IPO raising approximately $238.5 million in gross proceeds\n On track for multiple IND filings SAN FRANCISCO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- Nurix Therapeutics Inc. (Nasdaq: NRIX), a biotechnology company developing targeted protein modulation drugs, today reported financial results for the third quarter ended August 31, 2020 and provided a corporate update. Recent Business Highlights Strengthened Leadership Team with Key Appointments. Added Dr. Michael Lotze as chief cellular therapy officer and Dr. Robert Brown as vice president of clinical development to help advance protein modulating drug candidates and cell therapy programs into the clinic. Also enhanced the financial team with the addition of Dr. Jason Kantor as senior vice president, finance and investment strategy.Completed an Initial Public Offering (IPO) in July 2020 raising approximately $238.5 million in gross proceeds: On July 23, 2020, Nurix announced the pricing of its IPO of 11,000,000 shares of common stock, at a public offering price of $19.00 per share. In addition, the underwriters subsequently exercised their option to purchase 1,550,000 additional shares of common stock. The net proceeds to Nurix from the offering were approximately $218.1 million, after deducting underwriting discounts, commissions and offering expenses.Business Continuity: Nurix is executing upon its business objectives for 2020 and beyond and is on track to complete and file several investigational new drug applications (INDs), even accounting for the impact of the COVID-19 pandemic. Nurix continues to monitor the impact of the pandemic on its operations and the operations of its suppliers, vendors and business partners. “Following our successful initial public offering and with our strategic collaborations, we believe we have the resources needed to steadily advance a broad and deep portfolio of protein modulation drug candidates,” said Dr. Arthur Sands, president and chief executive officer of Nurix. “The recent additions of Dr. Robert Brown and Dr. Michael Lotze position us well to enter the clinic next year with multiple investigational drug candidates in oncology.” Upcoming Program Highlights NX-2127: The Company’s lead drug candidate from its protein degradation portfolio, NX-2127, is an orally available degrader of Bruton’s tyrosine kinase (BTK) with immunomod...