Nurix Therapeutics stock tumbles after Sanofi ends SAR448272 program

Sanofi has terminated development of SAR448272, an experimental oral STAT6 degrader partnered with Nurix Therapeutics, after ending the drug's Phase 1 first-in-human trial. The decision removes Nurix's eligibility for future development, regulatory and commercial milestone payments and royalties tied to the program, according to Yahoo Finance.

Partner Decision Removes Future Payments

Sanofi notified Nurix on Tuesday, November 3, that it would stop the early-stage trial and terminate the program. The compound had been studied for inflammatory and autoimmune conditions including atopic dermatitis and asthma.

Nurix had been eligible for roughly 455 million US dollars in additional milestones for SAR448272, along with potential royalties on future sales. The company remains eligible for payments tied to other licensed programs under its broader Sanofi collaboration if those assets advance.

Cash Runway Remains Unchanged

Nurix said the termination does not alter its cash runway guidance. The company held 1.1 billion US dollars in cash, cash equivalents and marketable securities as of August 31, 2026, and expects those resources to fund operations into the second half of 2029.

Wells Fargo cut its price target to 20 US dollars from 25 US dollars and kept an Equal Weight rating, according to the Yahoo Finance report. The analyst firm said the decision was a negative surprise and reduced the number of near-term pipeline catalysts.

Nurix Focuses On Remaining Pipeline

Nurix is a clinical-stage biotechnology company developing small-molecule and antibody therapies for cancer, inflammatory conditions and other diseases. Its portfolio includes BTK degraders, the CBL-B inhibitor NX-1607 and the IRAK4 degrader NX-0479, with collaborations involving Roche, Gilead Sciences, Sanofi and Pfizer.

Based in Brisbane, California, Nurix is a smaller, specialized drug developer operating alongside larger biopharmaceutical groups such as Roche, Gilead Sciences and Sanofi. Its competitive position depends on advancing its own clinical candidates while using partnerships to expand development and commercialization opportunities.