Sep. 21 at 1:10 AM
$NRIX This degrader sector has valuations all over the place.
$KYMR has a
$3.5 billion market cap and remains farther from commercialization than
$NRIX, which has a
$650 million market cap.
To me the
$NRIX sell-off appears overly tethered to
$ARVN’s Phase 3 VERITAC-2 trial disappointment. It caused a 40% drop in ARVN’s stock in March and
$NRIX has followed.
That failure overshadows NRIX’s own progress, including FDA-cleared INDs for its IRAK4 degrader in inflammatory diseases and brain-penetrant degraders showcased at AACR 2025, showing that NRIX closer to clinical milestones.
$NRIX should be most compared to
$ONC.
$ONC’s lead degrader is slightly ahead in development, but NRIX’s platform offers superior breadth, validated partnerships, and innovative features like CNS penetration and dual-targeting. These advantages position
$NRIX for outsized value creation. NRIX trades at a fraction of the implied worth of Onc degrader franchise, suggests an NRIX
cap of at least
$2 bln.
