Sanofi Decides to Stop Studies of Nurix-Partnered Experimental Drug

Nurix Therapeutics (NRIX) shares fell sharply after Sanofi discontinued a clinical trial for a licensed drug. Analysts at Wells Fargo reduced their price target. The company relies on collaboration payments from partners like Roche, Gilead, and Pfizer. NRIX stock is down 16% year-to-date. Retail traders on Stocktwits showed bullish sentiment despite the setback.

Nurix Therapeutics (NRIX) shares dropped 39.8% after Sanofi halted a Phase 1 study, ending related payments and royalties. Nurix reported $1.1B in cash as of August 31, funding operations into 2029. The stock is down 12.3% YTD and 43% from its 52-week high.

Nurix Therapeutics (NRIX) shares fell 40% after Sanofi terminated a Phase 1 clinical trial for SAR448272, a STAT6 degrader. Nurix won't receive future milestone payments or royalties for this program but retains other licensed programs. The company's cash runway remains unchanged, with $1.1B expected to last into 2H 2029. Nurix's other programs, including bexobrutideg and NX-1607, are progressing in clinical trials.

Sanofi halted development of SAR448272, an immune disease drug licensed from Nurix, due to nonclinical findings. Nurix received a $10M payment earlier and shares dropped over 40%. Sanofi still sees potential in the STAT6 pathway but not this specific molecule. Nurix and Sanofi partnered in 2020 with a potential $2.5B deal.

Nurix Therapeutics (NRIX) shares fell after Sanofi (SNY) ended development of their joint eczema drug, SAR448272/NX-3911, due to nonclinical findings. Analyst David Risinger of Leerink Partners cited Sanofi's statement. The decision impacted Nurix's stock price.

Nurix Therapeutics (NRIX) shares dropped 28.4% premarket after Sanofi ended development of SAR448272, a Phase 1 drug. Nurix loses future milestone payments and royalties. Jefferies cut its price target to $36 but kept a Buy rating. Nurix has $1.1B cash runway into 2H 2029.