Bolt Biotherapeutics expects to raise about $120 million from a group of healthcare investors. It signed a Securities Purchase Agreement for 13,995.311 shares of Series D Non-Voting Convertible Preferred Stock at $8,574.30 each, for gross proceeds of $119,999,995. Investors include Deep Track Capital, ADAR1 Capital, Andreessen Horowitz, LYFE Capital, Coastlands Capital, Eventide Asset Management, Casdin Capital, Curie.Bio, SilverArc Capital, Soleus Capital, and Deviation Capital. The deal also includes warrants to buy up to 6,997,655 common shares at an exercise price of $8.5743 per share on an as-converted basis. Each Series D share converts into 1,000 common shares, subject to conditions. The financing is expected to close on October 26, 2026.

Biotech movers October 23, 2026: BOLT +50% on Prana merger; AARD -65% after HERO data. BPC UPDATE 10/23/2026 ET TL;DR - biotech movers: October 23, 2026. * Bolt Biotherapeutics (BOLT): Acquired Prana Therapies in a reverse merger and raised $120M upfront, pivoting toward inflammatory diseases led by Phase 2 PRA-216. * Aardvark Therapeutics (AARD): Exploratory Phase 3 HERO data showed modest hyperphagia improvement after early termination; a lower-dose redesigned Phase 3 is planned for 2027. * MacroGenics (MGNX): Phase 1 MGC026 produced a 27% best overall response rate in heavily pretreated SCCHN, though notable Grade 3+ hematologic toxicity was observed. * Lunai Bioworks (LNAI): Plans to voluntarily delist from Nasdaq, with trading suspension set for October 30 and formal delisting expected November 12. * Lakewood-Amedex (LABT): Reported preclinical Nu-3 antimicrobial activity; Phase 2a diabetic foot ulcer data remain expected in Q1 2027. * NeOnc Technologies (NTHI): Announced a media feature focused on NEO100, but disclosed no new clinical, regulatory, or operational milestone. * Genmab (GMAB): Phase 3 RAINFOL-02 showed a 71% reduction in progression or death and 57% reduction in mortality risk with Rina-S versus chemotherapy. * Pasithea (KTTA): Preliminary Phase 1 PAS-004 data showed prolonged disease stability in several heavily pretreated MAPK-driven cancers with favorable early safety. Biotech updates. Bolt Biotherapeutics (NASDAQ: BOLT) acquired Prana Therapies in a stock-for-stock reverse merger and raised $120 million upfront with up to $60 million additional warrant proceeds, funding operations into 2028. The transaction pivots Bolt toward Prana's inflammatory-disease pipeline led by Phase 2 PRA-216, with multiple clinical readouts expected beginning in Q2 2027, while introducing substantial dilution from the financing. Shares closed up 50% at $6.27. NeOnc Technologies (NASDAQ: NTHI) announced an upcoming broadcast feature on Health Uncensored with Dr. Drew covering its investigational intranasal candidate NEO100 targeting primary brain cancer; while intended to raise market awareness and visibility, the media event provides no fresh clinical, regulatory, or operational milestone, with therapeutic safety and efficacy remaining unconfirmed in controlled trials. Shares closed up 11% at $3.27. Genmab (NASDAQ: GMAB) announced positive Phase 3 RAINFOL-02 trial outcomes evaluating Rina-S in platinum-resistant ovarian cancer, demonstrating a 71% reduction in the risk of disease progression or death (HR 0.29) and a 57% reduction in mortality risk (HR 0.43) compared to chemotherapy within the overall ITT cohort; with no unexpected adverse events observed and consistent efficacy across all FRα expression levels, these data substantially de-risk the program while laying the groundwork for international regulatory submissions and expanding its long-term commercial potential. Shares closed up 9% at $43.79. Aardvark Therapeutics (NASDAQ: AARD) disclosed exploratory results from its Phase 3 HERO trial in Prader-Willi syndrome, which was stopped early. In 67 of the 90 planned participants, ARD-101 demonstrated modest improvements in hyperphagia scores compared to placebo, alongside a 6-point reduction among open-label extension subjects who transitioned to active therapy. However, a cardiac serious adverse event linked to a drug interaction occurred at the 800 mg twice-daily dose. With the FDA having lifted the clinical hold, the company intends to initiate a redesigned Phase 3 program using a lower dose in 2027. Shares closed down 65% at $1.39. Lunai Bioworks (NASDAQ: LNAI) announced plans to voluntarily delist its shares from the Nasdaq. The decision follows its failure to meet the $2.5 million minimum stockholders' equity requirement, reporting a $9.02 million equity deficit. Public trading will be suspended on October 30, with full delisting slated for November 12, 2026. As the company ceases SEC reporting and offers no path for Over-the-Counter (OTC) trading, investors face substantial liquidity challenges. Shares closed down 37% at $0.29. MacroGenics (NASDAQ: MGNX) reported Phase 1 data for MGC026, featuring a 27% best overall response rate in heavily pretreated SCCHN and durable responses across solid tumors, alongside zero treatment-related discontinuations in the SCCHN arm; while these findings support moving into a front-line combination trial with pembrolizumab, therapeutic efficacy remains early-stage and the overall safety profile was marked by notable Grade 3 or higher hematologic toxicities.Shares closed down 38% at $2.25. Lakewood-Amedex Biotherapeutics (NASDAQ: LABT) unveiled preclinical data for Nu-3, demonstrating rapid bactericidal activity against drug-resistant pathogens together with a low propensity for resistance development; these findings lend support to the active Phase 2a trial investigating topical Nu-3 in mild diabetic foot ulcer infections, where primary outcome results are projected for 1Q 2027. Shares closed down 37% at $0.31. Sunshine Biopharma (NASDAQ: SBFM) announced a 1-for-20 reverse share split taking effect October 26, 2026, which will consolidate its outstanding common stock from approximately 15.2 million down to roughly 761,000 shares; while the measure aims to satisfy Nasdaq minimum bid price rules, it remains a corporate adjustment that leaves core enterprise valuation unchanged, though highlighting ongoing listing compliance challenges. Shares closed down 10% at $0.15. Pasithea Therapeutics (NASDAQ: KTTA) released promising Phase 1 preliminary findings for PAS-004 across heavily pretreated MAPK-driven advanced solid malignancies. Among trial subjects, four maintained disease stability past 300 days, while two harboring BRAF V600E melanoma continued treatment beyond 500 days following prior BRAF/MEK targeted therapy progression. The molecule demonstrated favorable prolonged safety, marked by zero Grade 3 treatment-emergent adverse events or therapy cessations alongside an extended half-life suited for chronic administration, though overall clinical validation remains constrained by early-stage cohort sizing. Shares closed down 9% at $0.40.

Press releases. Nurix Therapeutics announces appointment of Wes Burwell as Chief Human Resources Officer. August 20, 2026 Nurix Therapeutics Chief Human Resources Officer Accomplished human resources executive brings more than 20 years of leadership experience building high-performing organizations through clinical development and commercialization. BRISBANE, Calif., Aug. 20, 2026 (GLOBE NEWSWIRE) - Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company developing targeted protein degradation medicines for patients with cancer and inflammatory diseases, today announced that Wes Burwell has joined Nurix as its Chief Human Resources Officer (CHRO). Mr. Burwell will serve as a member of the company's Executive Management Team and will lead Nurix's human resources organization as the company advances its late-stage clinical pipeline and prepares for commercialization while maintaining its leadership position in targeted protein degradation drug discovery research. "Nurix is entering a new chapter as we evolve from a research and early clinical-stage company into a fully integrated biopharmaceutical organization," said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. "Building the capabilities, leadership and culture needed to support that transformation is vital to the advancement of our pipeline. Wes has an outstanding record of scaling organizations through rapid growth, strengthening leadership teams and fostering a high-performing, mission-driven culture. His deep experience makes him an exceptional addition to our Executive Management Team as we prepare for our next phase of growth." "Nurix has reached an exciting inflection point," said Mr. Burwell. "The company's scientific leadership, differentiated pipeline and strategic accomplishments have created an extraordinary opportunity to build an organization capable of delivering innovative medicines to patients around the world. I look forward to partnering with Arthur, the Executive Management Team and employees across the company to build the capabilities that will support Nurix's continued growth and long-term success." Mr. Burwell brings more than 20 years of human resources leadership experience helping life science organizations build the talent, culture and organizational capabilities required to advance from research and clinical development through commercialization. Prior to joining Nurix, Mr. Burwell served as vice president of human resources at Bolt Biotherapeutics. Previously, he held senior human resources leadership roles at Global Blood Therapeutics, where he helped guide the company's rapid growth from early clinical development through the successful commercialization of its first therapy, leading talent acquisition, leadership development and employee engagement initiatives that supported the organization's evolution into a commercial-stage biotechnology company. Earlier in his career, Mr. Burwell held leadership positions across both biotechnology and technology companies, he founded a successful human resources consulting and executive recruiting practice, and he served on the boards of several nonprofit organizations focused on healthcare and education. Mr. Burwell earned an M.B.A. in International Business from the University of San Francisco and a bachelor's degree in human resource management from Golden Gate University. About Nurix Therapeutics, Inc. Nurix Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, a new frontier in drug discovery aimed at improving treatment options for patients with cancer and autoimmune diseases. Nurix's clinical-stage oncology pipeline includes bexobrutideg, a degrader of BTK being co-developed with Roche, and NX-1607, an inhibitor of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. Nurix's autoimmune disease pipeline includes bexobrutideg in collaboration with Roche and clinical-stage degraders of IRAK4 in collaboration with Gilead and STAT6 in collaboration with Sanofi. Nurix is also advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates in its wholly owned preclinical pipeline and under collaboration agreements with Gilead Sciences, Inc., Sanofi S.A. and Pfizer Inc., within which Nurix retains certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Powered by an AI-integrated discovery engine capable of tackling virtually any protein class, and coupled with unparalleled ligase expertise, Nurix's dedicated team has built a formidable advantage in translating the science of targeted protein degradation into clinical advancements. Nurix aims to establish degrader-based treatments at the forefront of patient care, writing medicine's next chapter with a new script to outmatch disease. Nurix is headquartered in Brisbane, California. For additional information, visit www.nurixtx.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein that do not describe historical facts, including, but not limited to, statements regarding the expected contributions Mr. Burwell will bring to Nurix, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include, among others, the risks described under the heading "Risk Factors" in Nurix's Quarterly Report on Form 10-Q for the period ended May 31, 2026, and subsequent filings with the SEC. Any of these risks and uncertainties could materially and adversely affect Nurix's business and results of operations, which could, in turn, have a significant and adverse impact on Nurix's stock price. Nurix cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Nurix undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events. Media and Investors Kris Fortner Nurix Therapeutics, Inc. [email protected]