Nurix Therapeutics Extends Ongoing Research Program With Sanofi For STAT6; Anticipates Nominating A Clinical Candidate Within The First Year Of Extension
Portfolio Pulse from Benzinga Newsdesk
Nurix Therapeutics and Sanofi have extended their ongoing research program focused on STAT6, a key target in type 2 inflammation. The original agreement, signed in December 2019, included an upfront payment of $55 million from Sanofi, with an additional $22 million paid later to expand the collaboration. Nurix could receive up to $2.5 billion in future milestones and royalties. The extension aims to nominate a clinical candidate within the first year.
April 09, 2024 | 11:02 am
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Sanofi extends its collaboration with Nurix Therapeutics on the STAT6 research program, aiming to nominate a clinical candidate within the first year of the extension. Sanofi has already made significant financial commitments to the project.
For Sanofi, the extension of the research program represents a continued investment in its pipeline but does not immediately alter its financial outlook as the payments and potential milestones were likely accounted for in its long-term planning. The impact on Sanofi's stock price in the short term is expected to be neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nurix Therapeutics extends its research program with Sanofi on STAT6, aiming to nominate a clinical candidate within the first year of the extension. The company remains eligible for up to $2.5 billion in potential future milestones and royalties.
The extension of the research program with Sanofi not only reaffirms the potential of Nurix's ongoing projects but also enhances its financial outlook with the possibility of receiving up to $2.5 billion in future milestones and royalties. This development is likely to be viewed positively by investors, potentially leading to an increase in Nurix's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90