Nurix Therapeutics (NASDAQ: NRIX) stock soared more than 21% on Wednesday. The stock, which closed at $28.96 on Tuesday, opened at $31.25 and rose as high as $36.24 in mid-day training. The stock's 52-week high is $52.38, and its low is $21.53.
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The biopharmaceutical company released initial phase 1a data regarding NX-2127, its therapy for patients with relapsed or refractory B-cell cancers. According to Nurix, the drug was able to significantly reduce Bruton's tyrosine kinase (BTK) in all of the patients in the trial. BTK is an enzyme that is a key part of the B-cell receptor-signaling pathways. By blocking the enzyme, certain B-cell leukemias and lymphomas will not be able to grow and survive.
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Why Nurix Therapeutics Stock Soared More Than 21% Wednesday