Nurix Therapeutics Inc at Needham Healthcare Conference (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Gil Blum - Needham & Company - Analyst : So Arthur, maybe a good place to start just as an overview, provide some introductory remarks on Nurix. And not everyone is familiar with protein degradation, but what is it and how is Nurix doing it different?

Question: Gil Blum - Needham & Company - Analyst : Absolutely. And maybe just, again, to reorient the audience a little bit, what is it that makes degraders different than other kinds of interventions let's say, small molecules or RNA?

Question: Gil Blum - Needham & Company - Analyst : Okay. Maybe a good place to start is the BTK program. There's two of them actually, so NX-2127 and NX-5948. And maybe starting with NX-2127, you've disclosed data late last year and also more recently at AACR that shows pretty interesting activity across different CLL mutant backgrounds. So do you find the breadth of activity across mutation showing resistance to other reversible or irreversible BTK inhibitors. Do you find that surprising? And what are the implications of such a broad-based activity?

Question: Gil Blum - Needham & Company - Analyst : Okay. Let's discuss the data in short on what we've seen through the dose escalation study where you've seen maybe some emerging toxicity? What kind of efficacy have you seen to date?

Question: Gil Blum - Needham & Company - Analyst : So maybe sticking to NX-2127 in CLL, and I know this is a bit of a prognostication, but where do you see the drug potentially fitting in the treatment paradigm in CLL, given its current efficacy safety profile?

Question: Gil Blum - Needham & Company - Analyst : Okay. And so let's continue our conversation on non-Hodgkin's lymphoma and NX-2127. What can you disclose regarding the dose expansion cohorts in non-Hodgkin's lymphoma for the back half of the year? Should we expect focus on the specific indications or just results mainly driven by enrollment?

Question: Gil Blum - Needham & Company - Analyst : So basically, on the same topic, very similar question to what the one I asked on CLL. So NX-2127 in non-Hodgkin's lymphoma, where do you see this fitting in before new agents, after new agents, before bispecifics, CAR-Ts after?

Question: Gil Blum - Needham & Company - Analyst : And maybe a last point, and I do think that this might be challenging to answer at this juncture. But thinking on regulatory strategy for NX-2127 in NHL, any initial thoughts, any initial directions?

Question: Gil Blum - Needham & Company - Analyst : Okay. Now, it makes sense. I do want to switch to NX-5948, I think we should give it significant airtime as well. So first, efficacy results are expected in the second half of '23 as well. What we saw to date is PK/PD results which are presented and then suggest that it might be more potent than NX-2127. Do these considerations go into how doses were designed for the Phase 1 study?

Question: Gil Blum - Needham & Company - Analyst : And from this initial response readout, should we expect primarily CLL patients or is it going to be a mix?

Question: Gil Blum - Needham & Company - Analyst : Maybe a question on interplay between these two assets. Is there a situation where you may look to partner one of them let's say, NX-5948, because it can address larger markets while keeping the other one? Have you given this thought? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 20, 2023 / 7:00PM, NRIX.OQ - Nurix Therapeutics Inc at Needham Healthcare Conference (Virtual)

Question: Gil Blum - Needham & Company - Analyst :

Question: Gil Blum - Needham & Company - Analyst : It stabilizes a target. So we're looking for data in the second half of '23 as well. Nurix has probably the most advanced stage CBL-B program in development, can you just remind everyone why is this an ideal target?

Question: Gil Blum - Needham & Company - Analyst : Okay. So just based on the preclinical models that you mentioned, would you expect to see single agent activity, antitumor activity in humans?

Question: Gil Blum - Needham & Company - Analyst : And maybe, not to handicap you too hard, but in a situation where let's say, best response is stable disease, right, what biomarker picture would be supportive of continued development?

Question: Gil Blum - Needham & Company - Analyst : Yes.

Question: Gil Blum - Needham & Company - Analyst : If you do eventually move into checkpoint combo, does it matter which kind of checkpoint you're using targeting PD-1 versus PD-L1, for example? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 20, 2023 / 7:00PM, NRIX.OQ - Nurix Therapeutics Inc at Needham Healthcare Conference (Virtual)

Question: Gil Blum - Needham & Company - Analyst : I do want to spend a minute also on details here at DeTIL-0255.

Question: Gil Blum - Needham & Company - Analyst : So development was paused, just can you remind us what were the guiding reasoning behind this decision? To pause DeTIL program until we saw a little more out of NX-1607?

Question: Gil Blum - Needham & Company - Analyst : Is the company planning on providing any details from the patients that were dosed to date with DeTIL-0255 with the safety run-in?

Question: Gil Blum - Needham & Company - Analyst : Okay. Maybe to finish up here, a couple of larger picture items. Starting with the company's cash position, most recently, for the first quarter. How does your operational runway look like? And right now, financial conditions are great so it's important to understand.

Question: Gil Blum - Needham & Company - Analyst : Okay. And with that positive note, Arthur, we have reached time pretty much. And again, I'd like to thank you for attending and providing deeper insights into Nurix's story.