Q2 26 EPS
$-0.81
MISS 13.07%
Est. $-0.72
Q2 26 Revenue
$9.0M
MISS 40.85%
Est. $15.3M
vs S&P Since Q2 26
-2.3%
TRAILING MARKET
NRIX -3.5% vs S&P -1.2%
Market Reaction
Did NRIX Beat Earnings? Q2 2026 Results
Nurix Therapeutics delivered a disappointing fiscal Q2 2026, missing on both the top and bottom lines as investors had been closely watching for signals around the company's landmark Roche collaboration. Revenue came in at $9.04 million, falling 40.8… Read more Nurix Therapeutics delivered a disappointing fiscal Q2 2026, missing on both the top and bottom lines as investors had been closely watching for signals around the company's landmark Roche collaboration. Revenue came in at $9.04 million, falling 40.85% short of the $15.29 million consensus and collapsing 79.5% year-over-year, a decline driven primarily by the absence of the $30.00 million in one-time Sanofi license revenue that padded the year-ago period; current-quarter revenue consisted entirely of collaboration receipts, including a $2.00 million Sanofi milestone. EPS of negative $0.81 missed the negative $0.72 estimate by 13.07%, as R&D spending climbed to $87.65 million to support accelerating enrollment in the pivotal DAYBreak CLL-201 trial and preparations for the Phase 3 CLL-306 study. The headline story, however, remains the transformative Roche deal for lead BTK degrader bexobrutideg, which carries up to $2.30 billion in potential payments, with a $700.00 million upfront expected in the fiscal third quarter that would lift pro-forma cash to approximately $1.14 billion and fund expansion into immunology and neurology indications.
Key Takeaways
- • Revenue decline driven by absence of $30 million Sanofi license extension revenue present in prior-year quarter
- • R&D expense increase from accelerated clinical enrollment in bexobrutideg Phase 2 trial and Phase 3 trial preparation
- • $2 million Sanofi research milestone earned in the quarter
NRIX Forward Guidance & Outlook
Nurix expects to receive the $700 million upfront payment from Roche in the fiscal third quarter of 2026. Pro-forma cash is approximately $1.14 billion including the expected upfront. The company anticipates dosing the first patient in the Phase 3 DAYBreak CLL-306 confirmatory trial in mid-2026, continues pivotal Phase 2 enrollment in DAYBreak CLL-201, and is planning Phase 2 trials in CSU and MS under the Roche collaboration. Updated clinical data from the Phase 1a/1b bexobrutideg study are expected at upcoming medical meetings throughout 2026.
NRIX YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
NRIX Revenue by Segment
With YoY comparisons, source: SEC Filings
“The second quarter of 2026 was a defining period for Nurix and the targeted protein degradation field. Our global collaboration with Roche, an industry leader, validates both the differentiated clinical profile of bexobrutideg in malignant hematology and its broader potential in immunology and inflammation. The co-development, co-commercialization structure of the agreement allows Nurix to pursue multiple opportunities in significant markets in both oncology and autoimmune disease with financial strength and global reach.”
— Arthur T. Sands, Q2 2026 Earnings Press Release
NRIX Earnings Trends
NRIX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NRIX EPS Trend
Earnings per share: estimate vs actual
NRIX Revenue Trend
Quarterly revenue: estimate vs actual
NRIX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $-0.72 | $-0.81 | -13.07% | $9.0M | -40.85% |
| Q1 26 MISS | $-0.76 | $-0.79 | -3.32% | $6.3M | -56.09% |
| Q4 25 BEAT FY | $-0.92 | $-0.82 | +10.85% | $13.6M | +1.22% |
| FY Full Year | — | $-3.05 | — | $84.0M | — |
| Q3 25 MISS | $-0.85 | $-1.03 | -21.08% | $7.9M | -50.85% |
| Q2 25 BEAT | $-0.74 | $-0.52 | +30.15% | $44.1M | +151.56% |