Nurix Therapeutics Prices Upsized IPO At $19/Shr, Above Expected Range

(RTTNews) - San Francisco, California-based Nurix Therapeutics, Inc. announced the pricing of initial public offering of 11 million common shares at $19.00 per share. The offering is expected to close on July 28, 2020.

The company has originally filed to sell 8.8 million shares at a range of $16 to $18 share. Earlier Thursday, the company raised the proposed offer shares to 11 million shares at an expected IPO price of between $17 and $18 per share.

Nurix Therapeutics is a biopharmaceutical company developing oral, small molecule therapies designed to modulate cellular protein levels as a novel treatment approach for cancer and immune disorders.

The company expects offering gross proceeds, before expenses, to be $209 million. The shares to begin trading on Nasdaq on July 24, 2020 under the symbol "NRIX."

Nurix also granted underwriters a 30-day option to buy additional 1.65 million shares at initial public offering price, less underwriting discounts and commissions.

J.P. Morgan, Piper Sandler and Stifel are acting as joint bookrunning managers for the proposed offering. Needham & Company is acting as lead manager.