Recursion Pharmaceuticals, Inc. Stock Price, News & Analysis

Iambic Therapeutics has appointed Michael Secora, Ph.D. as Chief Corporate Development Officer and Chief Financial Officer. Dr. Secora, formerly CFO at Recursion (NASDAQ: RXRX), brings extensive experience in technology-driven drug development, combining scientific, capital markets, and business expertise.

At Recursion, he led finance, communications, and investor relations, orchestrating collaborations with major companies like Bayer and Roche-Genentech, and raising over $1.3 billion through private and public funding rounds.

Iambic's pipeline includes IAM1363, a HER2 inhibitor in Phase 1 with data expected in 2025, along with other programs including a dual CDK2/4 inhibitor and an allosteric KIF18A inhibitor. The company's platform integrates chemical synthesis, mass spectrometry, and AI technology, demonstrating ability to advance from program initiation to Phase 1 trials in approximately 2 years.

Recursion Pharmaceuticals (NASDAQ: RXRX) announced the approval of inducement restricted stock unit (RSU) awards by its Board's Compensation Committee on December 19, 2024. The grants cover 7,952,836 shares of class A common stock, distributed among 230 new employees under the company's 2024 Inducement Equity Incentive Plan. These awards were granted in connection with Recursion's acquisition of Exscientia plc. The RSUs will vest quarterly at a rate of 1/16th of shares on February 15, May 15, August 15, and November 15, starting February 15, 2025, contingent on continued employment.

Recursion (RXRX) announced interim Phase 1 clinical data for REC-617, their CDK7 inhibitor, showing promising results in advanced solid tumors. The study included 18 response-evaluable patients with doses ranging from 2mg to 20mg once daily and 1mg twice daily.

Key highlights include a confirmed partial response in a platinum-resistant ovarian cancer patient, ongoing after 6+ months of treatment, and stable disease in four additional patients for up to 6 months. The drug demonstrated favorable tolerability with predominantly Grade 1-2 adverse events and no treatment discontinuations.

REC-617 showed rapid absorption, dose-linear pharmacokinetics, and robust biomarker modulation. The company plans to continue monotherapy dose escalation and initiate combination studies in first half of 2025.

Recursion (NASDAQ: RXRX) has initiated dosing in its Phase 1/2 DAHLIA clinical trial of REC-1245, a novel RBM39 degrader targeting biomarker-enriched solid tumors and lymphoma. The drug, developed using AI-powered biology mapping, moved from target identification to IND studies in under 18 months. REC-1245 works by inducing splicing defects that downregulate DNA Damage Response networks and cell cycle checkpoints, potentially addressing over 100,000 patients in the US and EU5. The DAHLIA trial aims to evaluate safety, tolerability, and preliminary activity, while determining maximum tolerated dose for both single-agent use and combinations with other treatments.

Recursion (RXRX) and Exscientia have completed their business combination, with Exscientia becoming a wholly owned subsidiary of Recursion. The merged entity now features more than 10 clinical and preclinical programs, 10 advanced discovery programs, and over 10 partnered programs. The company has received $450M in upfront and milestone payments to date, with potential for over $20B in additional milestone payments. The combined platform integrates Exscientia's chemical design methods with Recursion's 60+ petabytes of proprietary data. The merged company will employ approximately 800 people, headquartered in Salt Lake City with offices across North America and Europe.

Recursion (RXRX) and Exscientia (EXAI) shareholders have approved their proposed business combination, with the transaction expected to close on November 20, 2024. The combined company will integrate Recursion's biological and chemical exploration capabilities with Exscientia's molecular design and automated chemistry synthesis expertise to enhance drug discovery processes. An update call is scheduled for November 20, 2024, at 7:30 a.m. ET. The final voting results will be disclosed in regulatory filings with the SEC.

Recursion (NASDAQ: RXRX) has released OpenPhenom-S/16, a publicly available foundation model in Google Cloud's Vertex AI Model Garden. The model, trained on over three million microscopy images from public datasets, sets a new performance standard for microscopy data analysis, outperforming traditional methods like CellProfiler. The model enables automated classification of cellular structures and pattern detection without requiring additional tuning. Alongside the model, Recursion is releasing the RxRx3-core dataset, which includes labeled images of 735 genetic knockouts and 1,674 small-molecule perturbations, designed to advance research in drug mechanism mapping.

Recursion (RXRX) reported Q3 2024 financial results with revenue of $26.1 million, up from $10.5 million in Q3 2023. The company achieved multiple clinical milestones, including positive Phase 2 CCM trial data and FDA clearance for a Phase 1/2 trial in biomarker-enriched tumors. Roche-Genentech optioned their first neuroscience phenomap for $30 million. The company expanded its collaboration with Google Cloud for drug discovery platform support. Q3 net loss was $95.8 million with cash position of $427.6 million. The pending business combination with Exscientia is expected to close on November 20, 2024.

Recursion (NASDAQ: RXRX) announced it will release its Q3 2024 business updates and financial results on November 6, 2024, after market close. The company will not hold its regular earnings call for Q3. Instead, Recursion plans to host an update call on November 20, 2024, following the expected completion of its proposed business combination with Exscientia. The call will be streamed live on Recursion's social media platforms, including X (formerly Twitter), LinkedIn, and YouTube, with opportunities for Q&A.