Nivalis Therapeutics, Inc. is a United States-based clinical-stage pharmaceutical company. It is engaged in the discovery, development and commercialization of product candidates for patients with cystic fibrosis. The Company has developed a portfolio of small molecule inhibitors of S-nitrosoglutathione reductase (GSNOR), which is used to increase and prolong cystic fibrosis transmembrane conductance regulator (CFTR) activity and to decrease inflammation. Its drug candidate portfolio consists of various compounds for oral, intravenous (IV) or inhaled administration. The Company’s lead clinical candidate is N91115, which is an investigational small molecule that addresses a defect in CFTR, resulting from mutations in the CFTR gene. N91115 is designed to stabilize CFTR inside the cell and at the cell surface. N91115 is a CFTR stabilizer that modulates CFTR activity.