Nurix Therapeutics Announces Proposed Public Offering
11 Abril 2024 - 3:00PM
Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage
biopharmaceutical company developing targeted protein modulation
drugs designed to treat patients with cancer and inflammatory
diseases, today announced that it has commenced an underwritten
public offering of $125 million of its common stock and, in lieu of
common stock, in the case of certain investors, pre-funded warrants
to purchase shares of its common stock. In addition, Nurix intends
to grant the underwriters a 30-day option to purchase additional
shares of its common stock at the public offering price less
underwriting discounts and commissions. All of the securities will
be offered and sold by Nurix. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
J.P. Morgan Securities LLC, Piper Sandler &
Co. and Stifel, Nicolaus & Company, Incorporated are acting as
joint book-running managers for the proposed offering. Needham
& Company, LLC and RBC Capital Markets, LLC are acting as lead
managers for the proposed offering.
Nurix currently intends to use any net proceeds
from this offering primarily to fund clinical development of its
drug candidates, to fund research and development activities to
expand its pipeline and for working capital and general corporate
purposes.
The public offering will be made pursuant to a
shelf registration statement on Form S-3 (File No. 333-258448) that
was previously filed by Nurix with the Securities and Exchange
Commission (“SEC”) on August 4, 2021, which was subsequently
amended on February 9, 2023, by Post-Effective Amendment No. 1 and
Post-Effective Amendment No. 2 and declared effective on April 6,
2023. A preliminary prospectus supplement relating to and
describing the terms of the offering will be filed with the SEC and
will be available on the SEC’s website at www.sec.gov. Copies of
the preliminary prospectus and accompanying prospectus relating to
the offering will be available, when filed, on the SEC’s website at
www.sec.gov. Copies of the preliminary prospectus and the
accompanying prospectus relating to the offering may be obtained
from: J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by
telephone at (866) 803-9204, or via email at
prospectus-eq_fi@jpmchase.com; Piper Sandler & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, by telephone at (800) 747-3924, or via email at
prospectus@psc.com; or Stifel, Nicolaus & Company,
Incorporated, Attention: Prospectus Department, One Montgomery
Street, Suite 3700, San Francisco, CA 94104, by telephone at (415)
364-2720, or via email at syndprospectus@stifel.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities of
Nurix, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Nurix Therapeutics,
Inc.
Nurix Therapeutics is a clinical stage
biopharmaceutical company focused on the discovery, development and
commercialization of innovative small molecules and antibody
therapies based on the modulation of cellular protein levels as a
novel treatment approach for cancer, inflammatory conditions, and
other challenging diseases. Leveraging extensive expertise in E3
ligases together with proprietary DNA-encoded libraries, Nurix has
built DELigase, an integrated discovery platform, to identify and
advance novel drug candidates targeting E3 ligases, a broad class
of enzymes that can modulate proteins within the cell. Nurix’s drug
discovery approach is to either harness or inhibit the natural
function of E3 ligases within the ubiquitin-proteasome system to
selectively decrease or increase cellular protein levels. Nurix’s
wholly owned, clinical stage pipeline includes targeted protein
degraders of Bruton’s tyrosine kinase, a B-cell signaling protein,
and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an
E3 ligase that regulates activation of multiple immune cell types
including T cell and NK cells. Nurix is headquartered in San
Francisco, California.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and other federal securities laws.
Any statements contained herein that do not describe historical
facts, including, but not limited to, statements regarding Nurix’s
intention to conduct an offering and sale of its securities, the
grant of the option to purchase additional shares, the ability to
complete the proposed offering and the expected use of proceeds,
are forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those
discussed in such forward-looking statements. Such risks and
uncertainties include, among others, the risks identified in
Nurix’s filings with the SEC, the prospectus related to the
offering, and subsequent filings with the SEC. Any of these risks
and uncertainties could materially and adversely affect Nurix’s
results of operations, which would, in turn, have a significant and
adverse impact on Nurix’s stock price. Nurix cautions you not to
place undue reliance on any forward-looking statements, which speak
only as of the date they are made. Nurix undertakes no obligation
to update publicly any forward-looking statements to reflect new
information, events or circumstances after the date they were made
or to reflect the occurrence of unanticipated events.
Investor Contacts:Jason Kantor,
Ph.DNurix Therapeuticsir@nurixtx.com
Elizabeth Wolffe, Ph.DWheelhouse Life Science
Advisorslwolffe@wheelhouselsa.com
Media Contact:Aljanae Reynolds
Wheelhouse Life Science Advisorsareynolds@wheelhouselsa.com
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