Nurix Therapeutics, Inc.
nurixtx.comWhat Do They Do?
Develops targeted protein degradation medicines and drug candidates for cancer and inflammatory diseases, for patients and biopharmaceutical partners.
10-K for FY2025, filed Jan 28, 2026
How Do They Make Money?
Biopharmaceutical partners pay for research and collaboration work, licenses to drug candidates, and milestones; license payments can arrive when rights are transferred, while bundled research and collaboration work may be paid for over its delivery. The company may also receive royalties when partner products are sold.
10-K for FY2025, filed Jan 28, 2026We have entered into several revenue generating collaborations with large biopharmaceutical companies, including Gilead, Sanofi and Pfizer…View ↗
The Company enters into collaboration agreements under which it may obtain upfront payments, milestone payments, royalty payments and other…View ↗
Exclusive license rights: If a license to the Company’s intellectual property is determined to be distinct from the other promises…View ↗
Research and collaboration licenses: Collaboration agreements may include research licenses and research and development services to be…View ↗
Milestone payments: At the inception of each arrangement that includes research, development or regulatory milestone payments, the Company…View ↗
Sales-based milestones and royalties: For arrangements that include sales-based milestone or royalty payments based on the level of sales…View ↗
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10-K for FY2025, filed Jan 28, 2026
FY2025 revenue by product or service ↗
$84M
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10-K for FY2025, filed Jan 28, 2026
$84M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Collaboration revenue
|
64%
FY2022: 100%
|
Collaboration revenue, FY2025
$54M Sources
|
|
|
License revenue
Sold outright
10-K for FY2025, filed Jan 28, 2026 |
36%
FY2022: 0.0%
|
License revenue, FY2025
$30M Sources
|
Sold outright |
Who Are Their Customers?
Biopharmaceutical companies partner with Nurix to discover and develop drug candidates using its DEL-AI platform and license drug candidates.
10-K for FY2025, filed Jan 28, 2026We have entered into several revenue generating collaborations with large biopharmaceutical companies, including Gilead, Sanofi and Pfizer…View ↗
In June 2019, we entered into a global strategic collaboration agreement with Gilead (as subsequently amended, the Gilead Agreement) to…View ↗
Under the Gilead Agreement, Gilead has the option to license drug candidates directed to up to five targets resulting from the…View ↗
Do Revenues Turn Into Profits?
No. It lost $264.5M in FY2025.
10-K for FY2025, filed Jan 28, 2026
−$285.7MView ↗
10-K for FY2025, filed Jan 28, 2026
−$264.5MView ↗
10-K for FY2025, filed Jan 28, 2026
−$263.5MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2026, filed Oct 13, 2026
$549.8MView ↗
- ▲ Now profitable
- vs −$86.4M in Q3 FY2025
10-Q for Q3 FY2026, filed Oct 13, 2026
Open tableView ↗
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Jun 8, 2026
Roche partnered to develop and commercialize bexobrutideg
Nurix and Roche will co-develop and commercialize it in the United States; Roche will lead development and commercialization elsewhere.
Sources
8-K, filed Jun 8, 2026
On June 6, 2026, Nurix Therapeutics, Inc. (“Nurix”) entered into a License and Collaboration Agreement (the “Collaboration Agreement”)…View ↗
Growing. Revenue grew 2.8x in 4 years, from $29.8M in FY2021 to $84M in FY2025, about 30% a year.
Discovery platform
The latest report describes an AI-integrated DEL-AI platform for targeted protein degradation and degrader antibody conjugates; the older report described DELigase and a broader approach to both decrease and increase protein levels, including cell therapies.
10-K for FY2022, filed Feb 9, 2023 10-K for FY2025, filed Jan 28, 2026
Partnered programs
The latest report names Gilead, Sanofi and Pfizer as collaboration partners and describes several partnered drug programs; the older report described collaborations with Gilead and Sanofi and ten identified targets.
10-K for FY2022, filed Feb 9, 2023 10-K for FY2025, filed Jan 28, 2026
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