Nurix Therapeutics cash balance at Silicon Valley Bank was less than 1%

In a regulatory filing, the company states: "On March 10, 2023, Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation and the Federal Deposit Insurance Corporation was appointed as receiver. On March 12, 2023, the U.S. Department of the Treasury, Federal Reserve Board, and FDIC released a joint statement announcing that the FDIC will complete its resolution of SVB in a manner that fully protects all depositors at SVB and that depositors will have access to all of their money starting March 13, 2023. Nurix Therapeutics maintains an operating account at SVB with a cash balance of less than 1% of the Company’s total cash, cash equivalents and marketable securities. The remainder of the Company’s cash, cash equivalents, and marketable securities is held at other large, global financial institutions. In light of the foregoing, the Company believes that its funds currently held at SVB will be fully available if and when needed and that, given its otherwise limited direct exposure to SVB, its exposure to loss as a result of SVB’s receivership is immaterial."