Sanofi Terminates SAR448272 STAT6 Degrader Program, Sending Nurix Stock Down 35%

Nurix Therapeutics shares plunged roughly 28 to 38 percent on November 4, 2026, after Sanofi notified the company it was discontinuing the Phase 1 first-in-human clinical trial of SAR448272, an oral STAT6 degrader, and terminating the program entirely. The move eliminates the future milestones and royalties Nurix had expected to earn tied to that drug.

SAR448272 was developed under a 2019 collaboration agreement between the two companies. Sanofi had exercised an option in 2025 to extend the collaboration to two programs targeting transcription factors for autoimmune and inflammatory diseases, one of which was STAT6, making the abrupt cancellation a significant reversal for Nurix.

Nurix said the termination does not alter its cash runway guidance. The company held approximately $1.1 billion in cash, cash equivalents, and marketable securities as of August 31, 2026, which it said is sufficient to fund operations into the foreseeable future.