Nurix Therapeutics Inc
NRIXHealthcare|Biotechnology|USA
$23.08
-1.63 (-6.60%)
Tangible Book
$3.88
Financials
Financial Snapshot
Market Cap
$2.40B
Enterprise Value
$385.4M
Revenue (TTM)
$36.8M
Net Income (TTM)
$-341.4M
Cash & Equivalents
—
Net Cash/Share
$3.00
Free Cash Flow (TTM)
$-304.5M
Operating CF (TTM)
$-293.7M
Debt/Equity
0.14
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$73.4M
Monthly Burn
$24.5M
Est. Runway
—
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $39.0M | $37.7M | $281.1M | $295.7M | $309.1M | $287.9M | $609.6M | $592.9M | $443.5M | |
| Operating Cash Flow | $-31.7M | $601.0K | $-80.0K | $-84.4M | $-159.8M | $-81.4M | $-172.6M | $-249.5M | $-293.7M | |
| Free Cash Flow | $-33.3M | $-1.1M | $-4.6M | $-90.0M | $-172.1M | $-89.8M | $-181.9M | $-263.5M | $-304.5M | |
| Capital Expenditure | $-1.6M | $-1.7M | $-4.6M | $-5.7M | $-12.2M | $-8.4M | $-9.3M | $-14.0M | $-10.8M | |
| Financing Cash Flow | $529.0K | $126.0K | $339.0M | $153.9M | $117.2M | $3.2M | $485.7M | $238.6M | $257.2M |
R&D Spending
R&D (TTM)
$340.9M
R&D Intensity
927.3%
R&D Growth YoY
+7.6%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.4M | $31.1M | $17.8M | $29.8M | $38.6M | $77.0M | $54.5M | $84.0M | $36.8M | |
| R&D Expense | $40.5M | $45.0M | $66.5M | $116.4M | $184.5M | $189.1M | $221.6M | $316.9M | $340.9M | |
| R&D % of Revenue | 108.2% | 144.7% | 373.1% | 391.4% | 477.6% | 245.7% | 406.3% | 377.4% | 927.3% | |
| SG&A | $6.7M | $8.3M | $16.3M | $31.2M | $38.0M | $42.9M | $45.9M | $52.7M | $57.0M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.4M | $31.1M | $17.8M | $29.8M | $38.6M | $77.0M | $54.5M | $84.0M | $36.8M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $37.4M | $31.1M | $17.8M | $29.8M | $38.6M | $77.0M | $54.5M | $84.0M | $36.8M | |
| R&D | $40.5M | $45.0M | $66.5M | $116.4M | $184.5M | $189.1M | $221.6M | $316.9M | $340.9M | |
| SG&A | $6.7M | $8.3M | $16.3M | $31.2M | $38.0M | $42.9M | $45.9M | $52.7M | $57.0M | |
| Operating Income | $-9.7M | $-22.2M | $-65.0M | $-117.9M | $-183.9M | $-155.1M | $-213.0M | $-285.7M | $-361.2M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-8.9M | $-21.5M | $-63.8M | $-117.1M | $-180.4M | $-143.9M | $-193.3M | $-263.7M | $-341.6M | |
| Net Income | $-9.4M | $-21.7M | $-43.2M | $-117.2M | $-180.4M | $-143.9M | $-193.6M | $-264.5M | $-341.4M | |
| EPS (Diluted) | -0.58 | -1.04 | -2.76 | -2.73 | -3.71 | -2.65 | -2.88 | -3.05 | -3.45 | |
| EBITDA | $-6.8M | $-19.9M | $-62.8M | $-111.8M | $-173.1M | $-141.4M | $-196.6M | $-266.8M | $-343.9M | |
| Shares Out. (M) | 16.11 | 20.78 | 15.67 | 42.90 | 48.61 | 54.34 | 67.12 | 86.67 | 111.08 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $25.6M | $34.8M | $119.4M | $80.5M | $64.5M | $54.6M | $110.0M | $247.0M | $67.7M | |
| Marketable Securities | $13.4M | $2.9M | $161.8M | $215.2M | $244.7M | $233.3M | $499.6M | $346.0M | $375.8M | |
| Total Current Assets | $40.7M | $39.4M | $298.4M | $311.1M | $318.4M | $295.5M | $619.4M | $606.8M | $456.5M | |
| Total Assets | $45.4M | $44.0M | $396.3M | $476.8M | $416.8M | $355.6M | $669.3M | $688.1M | $535.5M | |
| Total Current Liabilities | $32.8M | $16.1M | $44.5M | $66.3M | $70.7M | $87.0M | $95.9M | $86.5M | $72.0M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $82.2M | $101.8M | $106.1M | $134.5M | $113.1M | $155.1M | $142.3M | $149.4M | $132.9M | |
| Stockholders' Equity | $-36.8M | $-57.7M | $290.3M | $342.3M | $303.7M | $200.5M | $527.0M | $538.7M | $402.6M | |
| Retained Earnings | $-38.8M | $-60.5M | $-103.7M | $-220.9M | $-401.3M | $-545.2M | $-738.8M | $-1.00B | $-1.18B |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-31.7M | $601.0K | $-80.0K | $-84.4M | $-159.8M | $-81.4M | $-172.6M | $-249.5M | $-293.7M | |
| Capital Expenditure | $-1.6M | $-1.7M | $-4.6M | $-5.7M | $-12.2M | $-8.4M | $-9.3M | $-14.0M | $-10.8M | |
| Free Cash Flow | $-33.3M | $-1.1M | $-4.6M | $-90.0M | $-172.1M | $-89.8M | $-181.9M | $-263.5M | $-304.5M | |
| Investing Cash Flow | $40.0M | $8.5M | $-254.4M | $-108.3M | $27.2M | $68.3M | $-257.7M | $147.9M | $20.0M | |
| Financing Cash Flow | $529.0K | $126.0K | $339.0M | $153.9M | $117.2M | $3.2M | $485.7M | $238.6M | $257.2M | |
| Issuance of Stock | $0.00 | $0.00 | $218.1M | $150.2M | $114.2M | $0.00 | $478.5M | $234.8M | $252.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $431.0K | $510.0K | $4.3M | $15.8M | $28.1M | $33.7M | $33.9M | $38.0M | $39.6M | |
| Net Change in Cash | $8.8M | $9.2M | $84.5M | $-38.7M | $-15.4M | $-9.8M | $55.4M | $137.0M | $-16.5M |
Dilution Tracker
Shares outstanding grew 159.0% over 5 years — significant dilution
Shares Outstanding
111M
5-Year Share Growth
+159.0%
Stock Issuance (TTM)
$252.8M
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 16.11 | 20.78 | 15.67 | 42.90 | 48.61 | 54.34 | 67.12 | 86.67 | 111.08 | |
| YoY Change % | — | 29.0% | -24.6% | 173.7% | 13.3% | 11.8% | 23.5% | 29.1% | 28.2% | |
| Stock Issuance | $0.00 | $0.00 | $218.1M | $150.2M | $114.2M | $0.00 | $478.5M | $234.8M | $252.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $431.0K | $510.0K | $4.3M | $15.8M | $28.1M | $33.7M | $33.9M | $38.0M | $39.6M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | -26.0% | -71.5% | -364.7% | -396.3% | -476.0% | -201.4% | -390.5% | -340.2% | -982.4% | |
| Net Margin % | -25.2% | -69.7% | -242.7% | -393.9% | -466.9% | -187.0% | -354.9% | -314.9% | -928.4% | |
| EBITDA Margin % | -18.0% | -63.9% | -352.4% | -375.8% | -448.0% | -183.7% | -360.4% | -317.7% | -935.4% | |
| FCF Margin % | -88.8% | -3.4% | -26.0% | -302.6% | -445.4% | -116.6% | -333.4% | -313.7% | -828.3% | |
| ROE % | 0.0% | 0.0% | -37.2% | -37.1% | -55.8% | -57.1% | -53.2% | -49.6% | -76.1% | |
| ROA % | -20.8% | -48.5% | -19.6% | -26.8% | -40.4% | -37.3% | -37.8% | -39.0% | -57.4% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.41
P/S61.55
Historical3.48 / 18.14 / 68.63
Industry Med.9.51
P/B5.94
Historical0.91 / 2.84 / 8.78
Industry Med.2.93
EV/EBITDA-5.84
Historical-24.02 / -3.50 / 0.08
Industry Med.13.14
EV/Revenue54.67
Historical-0.17 / 11.26 / 84.66
Industry Med.8.71
P/FCF—
Historical7.12 / 75.32 / 104.92
Industry Med.27.54
Intrinsic Value Models
Tangible Book
$3.88
Net Current Assets
$3.120
Net-Net Working Capital
$3.00
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 0.00 | 0.00 | 37.48 | 41.53 | 15.58 | 4.39 | 27.20 | 18.25 | 61.55 | |
| PB Ratio | 0.00 | 0.00 | 5.71 | 3.76 | 1.92 | 1.51 | 3.18 | 3.34 | 5.94 | |
| EV/EBITDA | 0.00 | 0.00 | -21.90 | -8.98 | -1.66 | -0.32 | -5.58 | -4.73 | -5.84 | |
| EV/Revenue | 0.00 | 0.00 | 77.18 | 33.77 | 7.44 | 0.59 | 20.10 | 15.04 | 54.67 |
Analyst Estimates & Quality
Altman Z-Score
6.55
Safe
Piotroski F-Score
1
Weak
Beneish M-Score
-4.55
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $54.44M | $77.18M | $134.84M |
| Net Income | $-310.11M | $-306.23M | $-267.43M |
| EPS | -2.84 | -2.59 | -2.06 |
| Book Value per Share | 2.66 | 2.08 | 2.16 |
| Operating Cash Flow per Share | -2.49 | -2.50 | -1.58 |
| Operating CF | $-276.04M | $-277.16M | $-175.51M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Discovery, development and commercialization of innovative targeted protein degradation medicines | $84.0M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $84.0M |