By Kelly Cloonan

Shares of Nurix Therapeutics rose after the company said it will receive a $15 million license extension fee from Sanofi for its STAT6 program.

The stock climbed 11% to $11.76 on Monday. Shares have declined 25% in the past 12 months.

The biopharmaceutical company on Monday said STAT6, which plays a key role in type 2 inflammation, includes drug development candidate NX-3911, an oral, highly selective STAT6 degrader.

NX-3911 has shown robust efficacy in multiple preclinical models of atopic dermatitis and asthma, Nurix's Chief Scientific Officer Gwenn Hansen said.

The license extension brings the total amount Nurix has received under its collaboration with Sanofi to $127 million, the company said.

Under the companies' 2019 agreement, Sanofi can license drug candidates resulting from Nurix's work to identify novel agents using E3 ligases to induce degradation of specified drug targets, Nurix said.

Nurix retains its option to co-develop and co-promote up to two future products in the U.S., for which the companies will split profits and losses evenly, Nurix said. The company is eligible for an additional $465 million in development, regulatory and commercial milestones associated with the STAT6 program, as well as potential future royalties, it said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 02, 2025 11:50 ET (15:50 GMT)

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