--- title: "Nurix Therapeutics lifts its at-the-market program total to $413.65 million" url: "https://aibio.space/news/nurix-therapeutics-lifts-market-program-total-413-65-million/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-03-06" section: "Financings" tickers: "NASDAQ:NRIX" source: "https://www.sec.gov/Archives/edgar/data/1549595/000119312526096717/d96244d424b5.htm" summary: "Nurix raised its Piper Sandler at-the-market program to $413.65 million, of which $113.65 million has already been sold. Its fiscal 2025 net loss was $264." --- By the aibio.space news desk. Sources - [Nurix Therapeutics, Inc. 424B5 (2026-03-06)](https://www.sec.gov/Archives/edgar/data/1549595/000119312526096717/d96244d424b5.htm) - [d32105d8k.htm](https://www.sec.gov/Archives/edgar/data/1549595/000119312526096734/d32105d8k.htm) - [Nurix Therapeutics, Inc. 10-K (2026-01-28): business](https://www.sec.gov/Archives/edgar/data/1549595/000154959526000016/nrix-20251130.htm) - [Nurix Therapeutics, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1549595/000154959526000016/) [NRIX](https://aibio.space/companies/nurix-therapeutics/) 2026-03-06 # Nurix Therapeutics lifts its at-the-market program total to $413.65 million Tickers [NRIX](https://aibio.space/companies/nurix-therapeutics/) Nurix raised its Piper Sandler at-the-market program to $413.65 million, of which $113.65 million has already been sold. Its fiscal 2025 net loss was $264.5 million and cash used in operations was $249.5 million. ## Key facts - **Company**: Nurix Therapeutics, Inc. (NASDAQ: NRIX) - **News type**: Financings - **Primary source**: [Nurix Therapeutics, Inc. 424B5 (2026-03-06)](https://www.sec.gov/Archives/edgar/data/1549595/000119312526096717/d96244d424b5.htm) *A distant skyline over open water. Photo: Matt Bango, CC0, via StockSnap. The picture shows the field, not the companies named.* Nurix Therapeutics, Inc. (Nasdaq: [NRIX](https://aibio.space/companies/nurix-therapeutics/)) and Piper Sandler & Co. signed Amendment No. 3 to their equity distribution agreement on March 6, 2026. The amendment raises the total amount of common stock Nurix may sell through Piper Sandler as sales agent to $413.65 million, up from $300,000,000 after Amendment No. 2. That total includes shares already sold since Amendment No. 2, dated October 31, 2024. The original agreement is dated August 4, 2021, and Amendment No. 1 followed on July 11, 2024. Since Amendment No. 2, Nurix has sold 4,634,393 shares for gross proceeds of approximately $113.65 million. The prospectus supplement amendment says the program will now cover up to $413.65 million, including those shares. Piper Sandler is not required to sell any specific number or dollar amount of shares. It acts as sales agent using commercially reasonable efforts, and it is entitled to a commission of up to 3.0% of the gross sales price of each share. Sales are made in at-the-market offerings, which means shares are sold gradually at prevailing prices. ### Who is named Piper Sandler & Co. is the only sales agent named for the program. The 8-K filed with the amendment names Fenwick & West LLP as the author of the legal opinion on the shares sold under Amendment No. 1 to the prospectus supplement. Piper Sandler will be deemed an "underwriter" under the Securities Act. Nurix agreed to reimburse Piper Sandler for its counsel's fees and disbursements, within stated caps, and estimates its other offering expenses at approximately $1.2 million. The 8-K and the amendment's plan of distribution name no other sales agent, and they do not name Piper Sandler's counsel. ### The offering price and dilution The prospectus amendment uses a last reported sale price of $15.22 per share on The Nasdaq Global Market on March 5, 2026. Its share count after the offering is based on 101,807,484 shares of common stock outstanding. The amendment also states that the amount excludes the 4,634,393 shares already sold under the agreement. Assuming sales of 19,710,906 shares at $15.22, up to 121,518,390 shares would be outstanding, and new investors would face immediate dilution of $8.35 per share. Net tangible book value was approximately $538.7 million, or approximately $5.29 per share, at November 30, 2025. Existing holders already carry the dilution from the shares sold, and any further sales would add to it. ### The fiscal 2025 losses Nurix's annual report, filed January 28, 2026 for the fiscal year ended November 30, 2025, reports a net loss of $264.5 million, compared with $193.6 million for fiscal 2024. Research and development expense was $316.9 million, up from $221.6 million. Cash used in operations was $249.5 million, compared with $172.6 million a year earlier. At the end of fiscal 2024, the company reported cash and cash equivalents of $110.0 million. ### The pipeline the money would fund Nurix describes itself as a clinical stage biopharmaceutical company developing targeted protein degradation medicines for cancer and inflammatory diseases. Its wholly owned clinical pipeline includes bexobrutideg (NX-5948), a BTK degrader for relapsed or refractory B-cell malignancies and potentially autoimmune diseases, and zelebrudomide (NX-2127), a dual degrader of BTK and the transcription factors IKZF1 and IKZF3. It also has NX-1607, a CBL-B inhibitor. The partnered pipeline includes an IRAK4 degrader, NX-0479 or GS-6791, in a collaboration with Gilead Sciences. Other undisclosed programs are under collaborations with Gilead, Sanofi and Pfizer. The company says it retains certain co-development and profit-sharing options in the United States for multiple candidates. The annual report calls its AI-integrated discovery engine a significant advantage, but it gives no performance data for that engine. ### What the company says it will use the money for Nurix says it will use net proceeds for general corporate purposes, which may include funding research, clinical and process development, working capital and capital expenditures. The amendment names no specific trial or program for the money. ### What comes next The filings give no timetable for sales under the expanded program. Because the program is sold gradually at market prices, the number of shares issued will depend on how the stock trades. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story NRIX Nurix Therapeutics, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/nurix-therapeutics-lifts-market-program-total-413-65-million/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Nurix Therapeutics lifts its at-the-market program total to $413.65 million", 2026-03-06, https://aibio.space/news/nurix-therapeutics-lifts-market-program-total-413-65-million/