Nurix Stock Soars on Promising Blood Cancer Drug Data
Shares surge over 12% after its BTK degrader, bexobrutideg, shows high response rates in heavily pre-treated leukemia and lymphoma patients.
Shares of Nurix Therapeutics (NASDAQ: NRIX) surged more than 12% in morning trading after the biopharmaceutical company presented highly encouraging data for its experimental blood cancer treatment, bexobrutideg, positioning it as a potentially best-in-class therapy in a competitive market.
The data, unveiled at the 67th American Society of Hematology (ASH) Annual Meeting, showed the drug produced high response rates in two separate Phase 1 studies involving heavily pre-treated patients with chronic lymphocytic leukemia (CLL) and Waldenström macroglobulinemia (WM).
In the study focused on relapsed or refractory CLL, bexobrutideg achieved an 83% objective response rate (ORR) in evaluable patients. A second study in patients with WM, a rare type of non-Hodgkin's lymphoma, demonstrated a 75% ORR. The positive results sent Nurix’s market capitalization climbing toward $1.8 billion as investors reacted to the drug's potential.
Overcoming Resistance
Bexobrutideg's performance is particularly noteworthy because it was effective in a patient population that had exhausted multiple other treatment options. In the CLL trial, patients had undergone a median of three prior lines of therapy, with over 85% having been previously treated with another drug from the same class, known as BTK inhibitors.
"The clinical activity and durability observed with bexobrutideg in this study are highly encouraging for patients with relapsed or refractory CLL/SLL, many of whom have limited treatment options," said Dr. Zulfa Omer, a principal investigator on the study and Assistant Professor of Internal Medicine at the University of Cincinnati. "The responses we are seeing across heavily pretreated patients...support continued evaluation of bexobrutideg as a therapeutic approach."
Crucially, the drug showed efficacy in patients with mutations that confer resistance to existing BTK inhibitors, a significant challenge in cancer therapy. Bexobrutideg is not a conventional BTK inhibitor but a BTK degrader, a newer mechanism designed to eliminate the target protein entirely rather than just blocking its function. This distinction may be key to its success in patients who have stopped responding to other treatments.
Competitive Landscape
Nurix is aiming to capture a piece of the lucrative BTK inhibitor market, which is projected to reach over $11.5 billion in 2025. The field is dominated by established players, including AbbVie and Johnson & Johnson's Imbruvica, AstraZeneca's Calquence, and BeiGene's Brukinsa. More recently, Eli Lilly's non-covalent BTK inhibitor, Jaypirca, received full FDA approval for CLL, setting a new bar for therapies targeting resistant forms of the disease.
Despite the competition, Nurix executives believe bexobrutideg can carve out a significant niche. "These exciting, positive results reinforce the potential for bexobrutideg to be best-in-class and form a strong foundation to support our pivotal development program," said Arthur T. Sands, M.D., Ph.D., President and CEO of Nurix, in a statement.
The company also highlighted the drug's favorable safety profile. According to the data presented at ASH, adverse events were predominantly low-grade, with no dose-limiting toxicities observed. A single event of new-onset atrial fibrillation was reported, a heart-related side effect that has been a concern for earlier-generation BTK inhibitors.
Path Forward
Following the strong Phase 1 results, Nurix has selected a 600 mg dose to move forward into a pivotal single-arm Phase 2 study named DAYBreak. The trial is currently enrolling patients globally with relapsed or refractory CLL.
The data from the WM study was similarly compelling, with all 31 patients having previously been treated with a BTK inhibitor. The responses were observed regardless of common mutation statuses (MYD88 and CXCR4), further underscoring the drug's potential in difficult-to-treat subgroups.
"We believe bexobrutideg is an innovative therapy with the potential to transform care in CLL, WM, and additional NHL indications," Sands added.
Analysts have a strong buy consensus on Nurix stock, with an average price target of $27.18, suggesting significant upside from its current levels even after Monday's rally. The company's progress with bexobrutideg will be a key focus for investors as it advances into the next critical phase of clinical development.