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NRIX Nurix Therapeutics-38.2%Stock moveFDA and trials

Nurix Stock Falls 38% After Sanofi Ends STAT6 Degrader Program It Partnered On

The partner's decision removes milestone payments and royalties Nurix expected on that program, the company said in a filing.

By Zintick Team · Editor: Kratik Mehta
Published

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Photo: Ground Picture/Shutterstock.com

Key points

  • Nurix fell 38.2% on Wednesday after partner Sanofi ended the SAR448272 STAT6 degrader program
  • The 8-K says Nurix no longer expects milestones or royalties tied to that program
  • Nurix kept eligibility for payments on its other Sanofi-licensed programs
  • Cash and equivalents were $720.2 million as of Aug. 31, 2026

Nurix Therapeutics (Nasdaq: NRIX) fell 38.2% on Wednesday, Nov. 4, 2026, closing at $15.95 from a previous close of $25.82, after its collaboration partner Sanofi said it would end a program the company had counted on. The S&P 500 ETF (SPY) rose 1.65% that session, and trading volume ran at 7.9 times the normal level.

The news came in an 8-K that Nurix accepted at 4:02 p.m. ET on Tuesday, after the market closed, so the stock's reaction came in the next session. The filing says Sanofi notified the company it would discontinue the Phase 1 first-in-human trial of SAR448272, an oral STAT6 degrader, and terminate the program. The filing does not give Sanofi's reasons.

Milestones and royalties at stake

As a result of Sanofi's decision, Nurix does not expect to receive the future development, regulatory and commercial milestone payments or royalties it was eligible for under the Sanofi collaboration on that program. The company remains eligible for milestones and royalties on its other licensed programs, which Sanofi may still develop into clinical candidates at its discretion.

Scale against the balance sheet

Nurix reported cash and equivalents of $720.2 million as of Aug. 31, 2026. For the fiscal year ended Nov. 30, 2025, it reported revenue of $84.0 million and a net loss of $264.5 million, compared with a net loss of $193.6 million the year before. Before the filing, the company's market value was about $2.82 billion, based on the $25.82 previous close and 109.2 million shares outstanding as of Sept. 30, 2026.

Sources

Written with AI from SEC filings and market data, and checked against those sources before publishing. Our editorial standards.

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Filings, figures and price history are on the Nurix Therapeutics page.