The termination strips Nurix of all potential future milestone payments, regulatory fees, and commercial royalties tied to the specific asset. Before the announcement, Nurix shares had enjoyed a 36% climb throughout the year, closing the Tuesday session at $25.82.
In section Market Quotes
Nurix Therapeutics Stock Slumps as Sanofi Scraps Drug Program
A 34% drop in after-hours trading wiped out significant gains for Nurix Therapeutics on Tuesday after Sanofi abruptly shuttered a joint clinical trial. The pharmaceutical giant notified its partner that it is discontinuing the phase 1 program for the drug candidate SAR448272, effectively ending the collaboration’s current development pipeline.
Chief Executive Officer Arthur Sands downplayed the financial fallout, emphasizing that the company maintains a substantial cash runway. He noted that the firm continues to manage three other clinical-stage programs within its broader portfolio. While the SAR448272 program is defunct, Nurix remains eligible for payments from other licensed projects still active under the existing agreement with Sanofi.
Comments (0)
No comments yet. Be the first!