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nurix Nurix Therapeutics Reports Second Quarter Fiscal 2021 Financial Results and Provides a Corporate Update July 13 , 2021 Initiated Phase 1 trial of lead program NX - 2127 in patients with relapsed or refractory B - cell malignancies On track to initiate Phase 1 trials for three additional wholly owned drug candidates in 2021 Strong financial position with $ 496 million as of May 31 , 2021 SAN FRANCISCO , July 13 , 2021 ( GLOBE NEWSWIRE ) -- Nurix Therapeutics Inc. ( Nasdaq : NRIX ) , a biopharmaceutical company developing targeted protein modulation drugs , today reported financial results for the second quarter ended May 31 , 2021 and provided a corporate update . " Our first clinical trial to evaluate NX - 2127 , an orally bioavailable degrader of Bruton's tyrosine kinase with immunomodulatory drug activity in patients with relapsed or refractory B - cell malignancies is actively recruiting , and we anticipate sharing preliminary data from the dose escalation by year - end 2021 , " said Arthur T. Sands , M.D. , Ph.D. , president and chief executive officer of Nurix . “ The second half of 2021 promises to be an exciting time for Nurix as we prepare to deliver on our ambitious goal of initiating Phase 1 trials for three additional wholly owned and internally developed drug candidates . " Recent Business Highlights • Expanded the Leadership Team with the Addition of a Chief Operating Officer : Nurix announced the appointment of Stefani A. Wolff as chief operating officer and executive vice president of product development . Ms. Wolff brings to Nurix over 30 years of leadership experience in oncology and immunology most recently from Principia Biopharma Inc. , where she served as chief development officer and formerly senior vice president of strategy and operations overseeing Principia's portfolio including Bruton's tyrosine kinase ( BTK ) targeted agents . • Strengthened the Board of Directors with a Highly Successful Biotechnology Executive : Nurix announced the appointment of Clay Siegall , Ph.D. , president , chief executive officer and chairman of Seagen ( formerly Seattle Genetics , Inc. ) , to its board of directors . Dr. Siegall is an industry leader with a remarkable track record of success in building Seagen from a drug discovery platform company to a commercial - stage oncology company with multiple products . Dr. Siegall co - founded Seagen in 1998 , which today has three FDA - approved medicines and is an industry leader in antibody - drug conjugate technology and development . • Presented Preclinical Data Highlighting Activity of NX - 5948 in Animal Models of Autoimmune Disease : Nurix presented preclinical data for NX - 5948 at the European Alliance of Associations for Rheumatology ( EULAR ) 2021 Virtual Congress in June 2021. The data presented at the EULAR Congress demonstrate that NX - 5948 is a highly selective and potent degrader of BTK in primary human B cells resulting in robust inhibition of B cell activation . Importantly , data obtained from a mouse model of collagen - induced arthritis ( CIA ) demonstrated that in mice treated with NX - 5948 , symptoms of arthritis improved , with a significant reduction in arthritis clinical score , superior disease - related symptom control relative to ibrutinib , and similar activity to that of dexamethasone . A copy of the poster can be found on Nurix's website . Upcoming Program Highlights • NX - 2127 : Nurix's lead drug candidate from its protein degradation portfolio , NX - 2127 , is an orally bioavailable degrader of BTK with immunomodulatory drug ( IMID ) activity for the treatment of relapsed or refractory B - cell malignancies . Nurix is actively recruiting patients at multiple clinical sites for a Phase 1 clinical trial of NX - 2127 . Initial pharmacokinetic ( PK ) and pharmacodynamic ( PD ) data from the dose escalation portion of the trial is anticipated by year - end 2021 ( expected timing of events here and throughout the press release are based on calendar year quarters ) . Additional information on the clinical trial can be accessed at ClinicalTrials.gov ( NCT04830137 ) . • NX - 1607 : Nurix's lead drug candidate from its E3 ligase inhibitor portfolio , NX - 1607 , is an orally bioavailable inhibitor of CBL - B for immuno - oncology indications . Nurix anticipates initiating a Phase 1 trial for NX - 1607 in the second half of 2021 .