Gilead Sciences Extends Research Term By Two Years For Nurix Therapeutics' Deal, Announced In 2019, For $15M Extension Fee; Nurix Eligible For $73.5M In Preclinical Research Milestones And Licensing Fees, And $1.7B In Sales/Development Milestone
Portfolio Pulse from Benzinga Newsdesk
Gilead Sciences has extended its research term with Nurix Therapeutics for two more years, with a $15M extension fee. Nurix could receive up to $73.5M in preclinical research milestones and licensing fees, plus $1.7B in sales/development milestones.
April 02, 2024 | 11:06 am
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POSITIVE IMPACT
Gilead Sciences extends its research collaboration with Nurix Therapeutics, paying a $15M extension fee and potentially up to $1.7B in milestones.
The extension of the research term with Nurix Therapeutics signifies Gilead Sciences' commitment to the collaboration and potential for future revenue through development and sales milestones. This could positively influence investor sentiment and Gilead's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nurix Therapeutics could receive up to $73.5M in preclinical research milestones and licensing fees, plus $1.7B in sales/development milestones from the extended deal with Gilead Sciences.
The financial benefits from the extended collaboration with Gilead Sciences, including the potential to earn up to $73.5M in research milestones and $1.7B in sales/development milestones, could significantly impact Nurix Therapeutics' financial position and future prospects. This is likely to have a positive effect on NRIX's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90