Why did Nurix Therapeutics' revenue surge in Q2 2023?

Nurix Therapeutics' revenue surge in Q2 2023 can be attributed to **Collaboration and Licensing Fees**.

1. **Gilead Collaboration**: Nurix Therapeutics licensed a new development candidate, NX-0479/GS-6791, a targeted protein degrader of IRAK4, to Gilead in March 2023, resulting in a $20 million payment. This collaboration expands the therapeutic area potential of Nurix's protein degradation pipeline with Gilead into rheumatoid arthritis and other inflammatory diseases.
2. **Sanofi Collaboration**: Nurix Therapeutics received an additional $7.5 million in research milestones in collaborations with Gilead and Sanofi. Sanofi has previously paid Nurix Therapeutics $55 million to partner with them in 2019 and an additional $22 million to expand the collaboration in 2020. The latest deal with Sanofi covers a new, previously undisclosed program.

These collaborations and licensing fees have significantly contributed to Nurix Therapeutics' revenue surge in Q2 2023.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|NRIX|NRIX.O|Nurix Therapeutics|2022 Q3|5.257510729613734|1.0791E7|185|
|NRIX|NRIX.O|Nurix Therapeutics|2022 Q4|-8.288263926446728|6783000|185|
|NRIX|NRIX.O|Nurix Therapeutics|2023 Q1|31.847001351210892|1.2685E7|185|
|NRIX|NRIX.O|Nurix Therapeutics|2023 Q2|168.33449965010496|3.0676E7|185|