Nurix Therapeutics, Inc. (NASDAQ: NRIX) has announced the pricing of an upsized underwritten public offering of its common stock. The offering consists of 10,166,667 shares of common stock at a price to the public of $15.00 per share, as well as pre-funded warrants to purchase up to an aggregate of 1,500,100 shares of common stock at a purchase price of $14.999 per pre-funded warrant.
The gross proceeds to Nurix from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $175.0 million. The underwriters have also been granted a 30-day option to purchase up to an additional 1,750,000 shares of common stock in connection with the public offering.
The company intends to use any net proceeds from this offering primarily to fund clinical development of its drug candidates, to fund research and development activities to expand its pipeline, and for working capital and general corporate purposes.
Nurix Therapeutics is a clinical stage biopharmaceutical company focused on the discovery, development, and commercialization of innovative small molecules and antibody therapies for the treatment of cancer, inflammatory conditions, and other challenging diseases. The company's wholly owned, clinical stage pipeline includes targeted protein degraders of Bruton’s tyrosine kinase and inhibitors of casitas b-lineage lymphoma proto-oncogene B.
Nurix is headquartered in San Francisco, California. Today the company's shares have moved -5.8% to a price of $15.77. If you want to know more, read the company's complete 8-K report here.
