- Nurix Therapeutics ( NASDAQ: NRIX ) on Thursday said it had entered into a securities purchase agreement for a registered direct offering of about $55M.
- NRIX said it had agreed with an institutional investor to sell pre-funded warrants to buy around 3.9M shares of common stock at a price of $13.939/pre-funded warrant.
- The offering is expected to close next week on July 11.
- NRIX said it intended to use the proceeds from the offering, along with its cash and cash equivalents, to fund clinical trials, manufacturing and process development, and research, among other purposes.
- NRIX expects the proceeds from the offering along with its cash and cash equivalents to sufficiently fund its operating activities into H2 2024.
- NRIX separately announced a mixed set of Q2 results , with its GAAP EPS missing estimates but its revenue beating expectations.
- NRIX stock fell 9.2% to $14.05 after hours.
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Nurix Therapeutics announces $55M registered direct offering