Nurix Therapeutics stock is up, what you need to know
What happened?
Shares of Nurix Therapeutics jumped 3.4% in the afternoon session after the company appointed physician-scientist Arati V. Rao, M.D., as chief medical officer to oversee clinical development and registrational programs for its targeted protein degradation pipeline.
Per a company press release, Dr. Rao will direct clinical development as Nurix advances bexobrutideg, an oral Bruton's tyrosine kinase (BTK) degrader partnered with Roche, through registrational trials. Dr. Rao brings more than two decades of oncology and hematology experience, most recently serving as vice president of late-stage clinical development at Pfizer and previously leading the regulatory submissions that secured 2020 FDA approval for Kite-Gilead's CAR T-cell therapy Tecartus in relapsed or refractory mantle cell lymphoma.
The shares closed the day at $16.33, up 2.8% from the previous close.
What is the market telling us
Nurix Therapeutics’s shares are extremely volatile and have had 31 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock dropped 39.8% on the news that the company disclosed that collaboration partner Sanofi chose to stop the Phase 1 study of oral STAT6 degrader SAR448272 and discontinue the program.
According to the company's release, that decision ends future development, regulatory, and commercial payments and royalties from the program. Sanofi had triggered a $10 million milestone only two months earlier. Nurix said cash and marketable securities of $1.1 billion as of August 31 still fund operations into the second half of 2029.
Nurix Therapeutics is down 9.4% since the beginning of the year, and at $16.36 per share, it is trading 41.1% below its 52-week high of $27.79 from August 2026. Investors who bought $1,000 worth of Nurix Therapeutics’s shares 5 years ago would now be looking at only $494.74.
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