The company's financial stability is under pressure, with total equity declining to $480.9 million in 2026Q1 alongside an accumulated deficit exceeding $1.1 billion.
| Total Current Assets | 554.39M | 606.82M | 619.39M | 295.5M | 318.45M | 311.12M | 298.43M | 39.35M | 40.65M |
| Cash & Short-Term Investments | 540.73M | 592.94M | 609.58M | 287.91M | 309.14M | 295.72M | 281.15M | 37.72M | 39.04M |
| Cash Only | 71.19M | 246.96M | 110M | 54.63M | 64.47M | 80.51M | 119.36M | 34.82M | 25.59M |
| Short-Term Investments | 469.54M | 345.98M | 499.59M | 233.28M | 244.67M | 215.21M | 161.79M | 2.9M | 13.45M |
| Accounts Receivable | 2.4M | 0 | 1.5M | 800K | 1.1M | 6.2M | 11.35M | 0 | 0 |
| Days Sales Outstanding | 27.21 | - | 10.04 | 3.79 | 10.39 | 76.12 | 232.4 | - | - |
| Inventory | 0 | 0 | 0 | 0 | -1.1M | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 11.26M | 13.88M | 8.3M | 6.79M | 9.31M | 900K | 0 | 0 | 0 |
| Total Non-Current Assets | 81.74M | 81.32M | 49.96M | 60.09M | 98.31M | 165.65M | 97.91M | 4.69M | 4.74M |
| Property, Plant & Equipment | 73.35M | 73.01M | 45.9M | 47.95M | 29.51M | 25.34M | 6.67M | 3.87M | 4.42M |
| Fixed Asset Turnover | 0.99x | 1.15x | 1.19x | 1.61x | 1.31x | 1.17x | 2.67x | 8.04x | 8.47x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 7.42M | 63.88M | 137.47M | 90.89M | 506K | 170K |
| Other Non-Current Assets | 8.38M | 8.31M | 4.06M | 4.72M | 4.92M | 3.12M | 347K | 317K | 151K |
| Total Assets | 636.13M | 688.13M | 669.34M | 355.6M | 416.76M | 476.77M | 396.34M | 44.05M | 45.4M |
| Asset Turnover | 0.12x | 0.12x | 0.08x | 0.22x | 0.09x | 0.06x | 0.04x | 0.71x | 0.82x |
| Asset Growth % | 23.72% | 2.81% | 88.23% | -14.68% | -12.59% | 20.29% | 799.8% | -2.97% | - |
| Total Current Liabilities | 92.2M | 86.47M | 95.85M | 86.96M | 70.66M | 66.26M | 44.54M | 16.14M | 32.83M |
| Accounts Payable | 10.29M | 11.21M | 11.48M | 6.4M | 5.06M | 6.65M | 3.41M | 1.6M | 1.3M |
| Days Payables Outstanding | 19.15 | 217.09 | 18.91 | 12.35 | 10.02 | 20.85 | 18.73 | 12.95 | 11.69 |
| Short-Term Debt | 0 | 0 | 0 | 7.49M | 5.53M | 3.85M | 0 | 0 | 0 |
| Deferred Revenue (Current) | 89.75M | 17.58M | 38.36M | 48.1M | 37.63M | 41.21M | 32.8M | 9.61M | 28.42M |
| Other Current Liabilities | 33.05M | 23.64M | 18.91M | 751K | 9.14M | 5.67M | 2.6M | 1.18M | 726K |
| Current Ratio | 6.01x | 7.02x | 6.46x | 3.40x | 4.51x | 4.70x | 6.70x | 2.44x | 1.24x |
| Quick Ratio | 6.01x | 7.02x | 6.46x | 3.40x | 4.52x | 4.70x | 6.70x | 2.44x | 1.24x |
| Cash Conversion Cycle | 8.05 | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 63.04M | 62.92M | 46.5M | 68.15M | 42.41M | 68.21M | 61.53M | 85.63M | 49.41M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 207.75M | 52.91M | 20.29M | 23.13M | 6.43M | 9.19M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 850K | 1.74M | 1.22M |
| Total Liabilities | 155.24M | 149.39M | 142.35M | 155.1M | 113.06M | 134.47M | 106.07M | 53.57M | 34.05M |
| Total Debt | 58.66M | 55.73M | 28.3M | 30.61M | 11.96M | 13.04M | 0 | 0 | 0 |
| Net Debt | -12.54M | -191.23M | -81.69M | -24.01M | -52.51M | -67.47M | -119.36M | -34.82M | -25.59M |
| Debt / Equity | 0.12x | 0.10x | 0.05x | 0.15x | 0.04x | 0.04x | - | - | - |
| Debt / EBITDA | -0.20x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.04x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | - |
| Total Equity | 480.89M | 538.75M | 526.99M | 200.49M | 303.7M | 342.3M | 290.27M | -57.71M | -36.85M |
| Equity Growth % | 21.75% | 2.23% | 162.85% | -33.98% | -11.28% | 17.93% | 602.94% | -56.63% | - |
| Book Value per Share | 4.37 | 6.22 | 7.85 | 3.69 | 6.25 | 7.98 | 18.52 | -1.49 | -2.29 |
| Total Shareholders' Equity | 480.89M | 538.75M | 526.99M | 200.49M | 303.7M | 342.3M | 290.27M | -57.71M | -36.85M |
| Common Stock | 103K | 102K | 76K | 49K | 47K | 45K | 39K | 4K | 3K |
| Retained Earnings | -1.09B | -1B | -738.77M | -545.2M | -401.25M | -220.89M | -103.7M | -60.46M | -38.76M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.9M |
| Accumulated OCI | 56K | 105K | 150K | -655K | -4.32M | -608K | 87K | -2K | -4K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital depletion and dilution
As reported in recent financial filings, Nurix's cash position plummeted from $247.0 million in 2025Q4 to $71.2 million in 2026Q1, signaling a rapid depletion of liquidity that leaves the company with a significantly narrowed buffer to fund its ongoing clinical development programs and operational requirements.
The sharp contraction in cash reserves suggests that the company's burn rate is accelerating relative to its ability to secure non-dilutive milestone payments. Investors should monitor whether this liquidity profile necessitates a dilutive equity raise in the near term to maintain the current breadth of the clinical pipeline.
Based on the company's reported figures, total debt increased to $58.7 million in 2026Q1, representing a D/E ratio of 0.12, which indicates that while leverage remains relatively low, the firm is increasingly utilizing debt instruments to bridge the gap between intermittent collaboration revenue and high R&D costs.
The reliance on debt appears to be a necessity-driven strategy to manage working capital volatility rather than a sign of operational maturity. This leverage warrants further investigation, as the company's lack of recurring commercial revenue limits its capacity to service debt obligations without further capital infusions.
According to the provided balance sheet data, equity has experienced significant volatility, declining from $538.7 million in 2025Q4 to $480.9 million in 2026Q1, a trend largely driven by the accumulation of substantial retained losses that now exceed $1.1 billion as of the most recent quarter.
The persistent erosion of equity highlights the high cost of maintaining a proprietary platform in the absence of commercial product sales. This trend suggests that shareholder value is being continuously pressured by the need to fund clinical trials through mechanisms that may lead to further dilution.
As indicated by financial statements, deferred revenue dropped from $93.1 million in 2023Q4 to $26.3 million in 2026Q1, suggesting that the company is rapidly exhausting its backlog of previously received upfront payments, which may lead to a future revenue cliff if new partnership agreements are not secured.
This decline in deferred revenue implies that the headline revenue figures may be artificially supported by the amortization of past contracts rather than new, sustainable business development. Investors should be cautious, as the exhaustion of these liabilities removes a critical cushion that has historically masked the underlying cash burn.
Quick answers to the most common questions about buying NRIX stock.
As of 2025, Nurix Therapeutics, Inc. (NRIX) had total assets of $688.1M including $606.8M in current assets.
Nurix Therapeutics, Inc. (NRIX) carries total debt of $55.7M, offset by $592.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Nurix Therapeutics, Inc. (NRIX) has total shareholders' equity (book value) of $538.7M ($6.22 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Nurix Therapeutics, Inc. (NRIX) reported a current ratio of 7.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.