Recursion Pharmaceuticals, Inc. Stock Price, News & Analysis

Recursion (NASDAQ: RXRX) announced an expanded collaboration with Bayer AG focusing on fibrosis. The partnership will leverage Recursion's inferential search capabilities to accelerate drug discovery and development in fibrotic diseases, increasing the total number of relevant programs to over a dozen. Each program could yield more than $100 million in milestone payments plus royalties. This collaboration builds on successful prior efforts, with Recursion aiming to operationalize drug discovery more efficiently.

Recursion (NASDAQ: RXRX) announced the appointment of three experts to strengthen its neuroscience focus: Tim Ahfeldt as Fellow, Neuroscience; Irit Rappley as VP, Neuroscience and Translational Research; and Glenn Morrison as VP, Clinical Development. These hires aim to enhance the industrialization of iPSC-derived neural cell types, advance CNS-targeted therapeutics, and propel existing programs through clinical development. The move addresses significant unmet needs in brain disease therapies, leveraging machine learning for novel drug discovery.

Recursion (RXRX) reported its Q3 2021 results, highlighting progress in drug discovery through its Recursion Map and an expanding clinical portfolio. The company is preparing to initiate Phase 2 and Phase 2/3 studies for four clinical programs in early 2022. Financially, Recursion ended Q3 with $578.9 million in cash and reported $2.5 million in revenue, up from $1.0 million in Q3 2020. However, R&D expenses rose to $33.2 million and general administrative costs increased to $15.7 million, leading to a net loss of $47.4 million, compared to $23.9 million a year prior.

Recursion (NASDAQ: RXRX) announced FDA Fast Track designation for REC-2282, an oral small molecule HDAC inhibitor targeting NF2-mutated meningiomas. This designation accelerates drug review for unmet medical needs. REC-2282 aims to benefit neurofibromatosis type-2 patients, with enrollment in a Phase 2/3 study expected to start early next year. Over 34,000 sporadic meningiomas are diagnosed annually in the U.S., with a significant portion driven by NF2 mutations, highlighting an urgent medical need for effective therapies.

BioHive has appointed Katelin Roberts as its full-time Executive Director, effective immediately, after serving in an interim capacity since its launch. BioHive aims to enhance Utah's growing life sciences industry. Roberts, previously CEO of Line Logic, brings extensive leadership experience. BioHive comprises over 1,100 companies in Utah's life sciences sector, employing over 130,000 individuals. The organization focuses on innovation and collaboration to strengthen the state's economy and improve patient outcomes.

Recursion (NASDAQ: RXRX) has received orphan drug designation from the U.S. FDA for its drug REC-4881, aimed at treating familial adenomatous polyposis (FAP). This designation supports the development of therapies for rare conditions and provides incentives such as tax credits and potential market exclusivity. REC-4881 is a small molecule MEK1/2 inhibitor intended to reduce tumor size in FAP patients, for whom no approved therapies currently exist. With approximately 50,000 cases in the US and Europe, the company plans a Phase 2 clinical trial to assess REC-4881's safety and efficacy within the next year.

Recursion (NASDAQ: RXRX), a clinical-stage biotechnology firm, announced its Q2 2021 financial results, reporting $2.5 million in revenue, up from $186,000 in Q2 2020, aided by collaboration with Bayer. The company has a robust pipeline with 48 active R&D programs, including 4 clinical and 4 preclinical programs. Key developments include plans for several Phase 2 trials and the advancement of its first internally developed new chemical entity towards IND-enabling studies. Recursion also aims to expand operations to Canada and enhance capabilities through partnerships and a newly formed Therapeutics Advisory Board.

Recursion (NASDAQ: RXRX) announced the establishment of a Therapeutics Advisory Board (TAB) led by Joseph Miletich, MD, PhD, former senior VP at Merck Research Laboratories. The TAB aims to guide the company in efficiently developing medicines at scale from its tech-enabled drug discovery pipeline. Miletich’s experience in advancing new medicines and his innovative perspective on technology-driven drug discovery is expected to benefit Recursion’s programs. The company leverages machine learning to explore biology and develop therapeutics while minimizing biases in research.

Recursion (NASDAQ: RXRX), a clinical-stage biotechnology company, announced the opening of a child care center near its Salt Lake City headquarters on July 12, 2021. The center, operated by Bright Horizons, will provide care for employees' children from infancy to age five. This initiative aims to support working parents, addressing the significant child care challenges in the U.S., especially post-pandemic. The move is part of Recursion's commitment to creating a diverse workforce and ensuring equity among employees, as only 4-6% of U.S. employers offer similar child care facilities.