The massive revenue beat is entirely non-recurring Roche license revenue, not operational — watch for pipeline execution on bexobrutideg Phase 3 data and any guidance on future collaboration milestones. The $1.1B cash runway into H2 2029 removes near-term financing risk.
Price Chart
Executive Summary
Nurix Therapeutics reported Q3 2026 revenue of $673.1M (vs $7.9M YoY) and net income of $549.8M ($4.73 diluted EPS), massively beating consensus estimates of $287.9M and $1.51 EPS, driven by $653.2M in license revenue from the Roche collaboration. The company ended the quarter with $1.1B in cash, dosed the first patient in the pivotal Phase 3 DAYBreak CLL-306 trial, and advanced multiple pipeline programs, but also discontinued development of NX-2127 (zelebrudomide).
Key Financial Metrics
Key Facts
- Revenue was $673.1M for Q3 2026 vs $7.9M for Q3 2025, primarily due to $653.2M license revenue from the Roche collaboration and $10.0M milestone from Sanofi
- Net income was $549.8M ($4.73 diluted EPS) vs net loss of $86.4M ($1.03 loss per share) in Q3 2025
- Cash, cash equivalents and marketable securities were $1.1B as of August 31, 2026 vs $592.9M as of November 30, 2025
- First patient dosed in registrational Phase 3 DAYBreak CLL-306 trial comparing bexobrutideg vs pirtobrutinib
- Sanofi initiated Phase 1 trial of STAT6 degrader, triggering $10M milestone payment to Nurix
- Discontinued further clinical development of NX-2127 (zelebrudomide)
- Earned $27M from Gilead, Pfizer and Sanofi collaborations in the quarter
Financial Impact
Revenue of $673.1M vs consensus $287.9M (133.8% beat); EPS of $4.73 vs consensus $1.51 (213.6% beat); cash balance $1.1B
Risk Factors
- Revenue surge is non-recurring license revenue from Roche — core collaboration revenue was only $19.9M
- Discontinuation of NX-2127 signals pipeline prioritization risk
- No formal guidance provided for future quarters
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001549595-26-000048 |
| Document: nrix-20261012.htm | 0001549595-26-000048 |
| Document: 0001549595-26-000048-index-headers.html | 0001549595-26-000048 |
| Document: 0001549595-26-000048-index.html | 0001549595-26-000048 |
| Document: 0001549595-26-000048.txt | 0001549595-26-000048 |
| 8-K Data (Synthetic) | 0001549595-26-000048 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | Insider Cluster | $24.42 | awaiting T+20 | — | $26.70 (+9.34%) |
Oct 14, 2026 13d ago | 144 | $24.95 | awaiting T+20 | — | $26.70 (+7.01%) |
Oct 13, 2026 14d ago | 8-K | $22.13 | awaiting T+20 | — | $26.70 (+20.65%) |
Oct 5, 2026 22d ago | Press Release | $22.88 | awaiting T+20 | — | $26.70 (+16.70%) |
Sep 23, 2026 4w ago | SC 13G | $23.65 $25.51 | ▲ +7.86% | ▲ +8.28% | $26.70 (+12.90%) |
Sep 2, 2026 7w ago | Insider Cluster | $25.32 $22.99 | ▼ −9.20% | ▼ −8.01% | $26.70 (+5.45%) |
Aug 5, 2026 11w ago | Insider Cluster | $25.22 | awaiting T+20 | — | $26.70 (+5.87%) |
Aug 5, 2026 11w ago | Insider Cluster | $25.12 | awaiting T+20 | — | $26.70 (+6.29%) |
Aug 4, 2026 11w ago | Insider Cluster | $25.12 | awaiting T+20 | — | $26.70 (+6.29%) |
Aug 3, 2026 12w ago | Insider Cluster | $24.69 | awaiting T+20 | — | $26.70 (+8.14%) |
US Market Status
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