Analysts at Berenberg Bank provided their views on Nurix Therapeutics, Inc. (NASDAQ:NRIX) following the company’s Q1 earnings report last week.

According to the analysts, the company continues to advance its four clinical programs in the clinic. The analysts expect multiple data updates from the company in the remainder of 2022, including its R&D day in May and a number of medical conferences. Additional clinical update for lead BTK degrader NX-2127 is expected in H2. The analysts think these data will be incrementally positive and support the potential of Nurix’s broad pipeline across multiple modalities.

The company continues to receive milestone payments from research collaborations with Gilead and Sanofi. It ended Q1 with cash of $386 million, which should support operations into H2/2023, according to the analysts. Given this cash runway, the analysts believe the company is equipped to progress through key value inflection points.