Nurix Therapeutics Reports Net Loss of $40.7 Million in Q1 2023

Nurix Therapeutics, Inc.,(NRIX) a leading biopharmaceutical company specializing in the discovery and development of targeted protein modulation drugs, has released its financial statements for the first quarter of 2023. The company reported a net loss of $40.7 million during this period, accompanied by collaboration revenue of $12.7 million. Let's delve into the details of Nurix Therapeutics' financial performance and analyze key highlights from the condensed consolidated financial statements.

Financial Statements

Condensed Consolidated Balance Sheets

Nurix Therapeutics' total assets amounted to $370.2 million as of February 28, 2023, compared to $416.8 million as of November 30, 2022. The company's current assets, including cash and cash equivalents, marketable securities, and prepaid expenses, reached $288.3 million. Additionally, the non-current marketable securities, operating lease right-of-use assets, and property and equipment contributed $58.4 million to the company's total assets.