Shares of Nurix Therapeutics NRIX have seen a sharp increase over the past month, primarily driven by growing investor optimism about the company’s recently announced collaboration with Swiss pharma giant Roche RHHBY.
NRIX’s Price Performance
Shares of Nurix have rallied 28.6% in the past month compared with the industry’s increase of 2.5%.
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Earlier this month, the companies signed an exclusive licensing and collaboration agreement to co-develop and co-commercialize one of Nurix’s lead pipeline candidates, bexobrutideg (NX-5948), across various malignant hematology, immunology and neurology indications.
Per the deal, Nurix is entitled to receive $700 million upfront and could earn up to $2.3 billion in total through development, regulatory, and commercial milestone payments from RHHBY. While Nurix will fund 40% of development costs, Roche will be covering the remaining 60%.
However, the companies will equally share all profits and losses from net sales of the product upon potential approval and launch in the United States. In ex-U.S. markets, Roche will solely lead all commercialization activities, and Nurix will receive tiered royalties ranging from the low to high-teens
The partnership is looking to build on Nurix’s pioneering expertise in targeted protein degradation with Roche’s leading portfolio of B-cell targeted therapies and clinical and commercial infrastructure.
More on NRIX’s Bexobrutideg Development
Bexobrutideg is an investigational, orally bioavailable, brain-penetrant Bruton’s tyrosine kinase (BTK) degrader being developed for the treatment of relapsed or refractory B-cell malignancies, as well as immunology and neurology indications. It uses a novel protein degradation mechanism that eliminates BTK rather than simply inhibiting it, potentially overcoming resistance associated with currently available BTK inhibitors.
Bexobrutideg is expected to enter phase III testing in second-line chronic lymphocytic leukemia (CLL) later in 2026. Early clinical results suggest the therapy could deliver superior efficacy and tolerability compared with existing BTK inhibitors while potentially overcoming key resistance mechanisms.
Beyond oncology, the clinical development plan for bexobrutideg also includes expanding into neurology and immunology, with phase II studies planned in multiple sclerosis (MS) and chronic spontaneous urticaria (CSU).
NRIX’s Other Collaborations Deals
Nurix is also progressing several partnered programs with large drugmakers like Sanofi SNY, Gilead GILD and Pfizer.
While Sanofi is advancing the STAT6 degrader, NX-3911, into clinical testing, Gilead is evaluating the IRAK4 degrader, GS-6791, in a phase I study. If these programs demonstrate encouraging clinical results, Nurix can choose to co-develop them and share U.S. profits. The company also expects to receive certain milestone payments from its collaborations with Gilead, Sanofi and Pfizer.
Nurix Therapeutics, Inc. Price
Nurix Therapeutics, Inc. price | Nurix Therapeutics, Inc. Quote
NRIX’s Zacks Rank
Nurix currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).