Nurix Shares Sink 35% After Sanofi Drops SAR448272 Drug Program

what happened

Stocktwits reports that Nurix Therapeutics (NRIX) shares dropped 35% in after-hours trading on Tuesday. The move followed the company's announcement that its partner Sanofi (SNY) has stopped developing SAR448272, an experimental oral drug Nurix had licensed to the French group. Sanofi told Nurix it is ending the early-stage first-in-human trial and closing the program completely.

The compound was being studied for type 2 inflammatory and autoimmune conditions, including atopic dermatitis and asthma. The decision removes roughly $455 million in possible development, regulatory and commercial milestone payments, along with royalties on future sales from this program. Nurix can still receive payments on other programs under the same collaboration if Sanofi chooses to advance them. The company also said its cash runway guidance is unchanged: it held $1.1 billion as of August 31 and expects that to fund operations into the second half of 2029.

why it matters

For investors, the business model matters here: Nurix has no approved drugs and its revenue comes mostly from partner payments, so losing a large program hits expectations hard. According to Stocktwits, some retail users say the selloff is out of proportion, pointing to the drug's early stage and to the company's main asset, bexobrutideg, developed with Roche for chronic lymphocytic leukemia.

market impact

Nurix shares: lost Sanofi milestone payments weigh on the stock

• ▼Nurix shares (NRIX) pressure down — removal of up to $455 million in milestones and royalties from the discontinued program

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