Does New NX-5948 Phase 2 Dose Selection Change The Bull Case For Nurix Therapeutics (NRIX)?

• Nurix Therapeutics, Inc. recently presented new clinical data from its ongoing Phase 1a/1b NX-5948-301 trial of bexobrutideg (NX-5948) in relapsed or refractory B-cell malignancies at the 67th American Society of Hematology Annual Meeting, including safety and efficacy findings across multiple dose levels and patient cohorts.
• The data underpin selection of a 600 mg dose as the recommended Phase 2 level and support Nurix’s pivotal DAYBreak development program under FDA initiatives Project Optimus and Project Prime, highlighting regulatory alignment as the candidate advances in chronic lymphocytic leukemia.
• We’ll now examine how advancing bexobrutideg at a 600 mg Phase 2 dose could influence Nurix Therapeutics’ broader investment narrative.

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What Is Nurix Therapeutics' Investment Narrative?

To own Nurix Therapeutics, you really have to believe that its protein degradation platform, and especially bexobrutideg, can translate early clinical signals into a sustainable business despite ongoing losses and a rich valuation. The new ASH data supporting 600 mg as the Phase 2 dose for NX‑5948 are an incremental but meaningful positive for the near term, helping de‑risk one of Nurix’s key catalysts: the pivotal DAYBreak CLL program under FDA Project Optimus and Project Prime. With revenue still modest at about US$83.7 million and the company not expected to reach profitability in the next three years, execution risk around NX‑5948 and partnered programs with Gilead and Sanofi remains front and center. The sharp, volatile share price moves ahead of ASH underline how quickly sentiment can swing if trial data or timelines disappoint.

However, the same DAYBreak program that anchors the upside case also concentrates much of Nurix’s current risk profile for investors. Insights from our recent valuation report point to the potential overvaluation of Nurix Therapeutics shares in the market.

Exploring Other Perspectives

The single fair value estimate from the Simply Wall St Community sits at US$28.41 per share, leaving plenty of room for different views. When you weigh that against Nurix’s heavy reliance on NX‑5948’s pivotal progress and ongoing losses, it underlines why investors often reach very different conclusions about how today’s price reflects tomorrow’s execution risks.

Explore another fair value estimate on Nurix Therapeutics - why the stock might be worth as much as 53% more than the current price!

Build Your Own Nurix Therapeutics Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Nurix Therapeutics research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free Nurix Therapeutics research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Nurix Therapeutics' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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