The extension signals Gilead's continued commitment to the collaboration and de-risks the undisclosed oncology program. Watch for potential option exercise by Nurix on co-development/profit-sharing programs and progress of GS-6791 in Phase 1.
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Executive Summary
Nurix Therapeutics announced a two-year extension of the research term for an undisclosed oncology program under its existing collaboration with Gilead Sciences, receiving a $10 million fee. The extension validates the platform's potential and maintains Nurix's co-development and 50/50 profit-sharing options on up to two U.S. programs, with total potential milestone payments of up to approximately $1.3 billion.
Key Financial Metrics
Key Facts
- Two-year extension of research term for an undisclosed oncology program under the Nurix-Gilead collaboration, originally established in 2019.
- Nurix receives a $10 million research term extension fee.
- Nurix retains options for 50/50 profit and loss sharing on up to two U.S. programs.
- Total potential milestone payments of up to approximately $1.3 billion remain eligible.
- First program licensed under the agreement, GS-6791 (NX-0479), is in Phase 1 clinical development.
Financial Impact
$10 million upfront fee with up to $1.3 billion in potential milestone payments and tiered royalties (mid-single-digit to low-teens percentage) on net sales.
Risk Factors
- Undisclosed oncology program may fail to advance to clinical development.
- Milestone payments are contingent on successful preclinical, clinical, development, and sales milestones.
- Collaboration-dependent revenue stream; Gilead may not exercise options on all programs.
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3374392 |
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| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | Insider Cluster | $24.42 | awaiting T+20 | — | $26.57 (+8.78%) |
Oct 14, 2026 12d ago | 144 | $24.95 | awaiting T+20 | — | $26.57 (+6.47%) |
Oct 13, 2026 14d ago | 8-K | $22.13 | awaiting T+20 | — | $26.57 (+20.04%) |
Oct 5, 2026 22d ago | Press Release | $22.88 | awaiting T+20 | — | $26.57 (+16.11%) |
Sep 23, 2026 4w ago | SC 13G | $23.65 $25.51 | ▲ +7.86% | ▲ +8.28% | $26.57 (+12.33%) |
Sep 2, 2026 7w ago | Insider Cluster | $25.32 $22.99 | ▼ −9.20% | ▼ −8.01% | $26.57 (+4.92%) |
Aug 5, 2026 11w ago | Insider Cluster | $25.22 | awaiting T+20 | — | $26.57 (+5.33%) |
Aug 5, 2026 11w ago | Insider Cluster | $25.12 | awaiting T+20 | — | $26.57 (+5.75%) |
Aug 4, 2026 11w ago | Insider Cluster | $25.12 | awaiting T+20 | — | $26.57 (+5.75%) |
Aug 3, 2026 12w ago | Insider Cluster | $24.69 | awaiting T+20 | — | $26.57 (+7.59%) |
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