Welcome to our dedicated page for Recursion Pharmaceuticals news (Ticker: RXRX), a resource for investors and traders seeking the latest updates and insights on Recursion Pharmaceuticals stock.
Recursion Pharmaceuticals, Inc. (RXRX) is a clinical-stage biotechnology pioneer using machine learning and automated experiments to transform drug discovery. This page serves as the definitive source for all official company announcements and verified news coverage.
Investors and industry professionals will find timely updates including clinical trial developments, strategic partnerships, and financial results. Our curated collection features press releases on therapeutic advancements, regulatory milestones, and technology innovations from Recursion's proprietary platform.
Key content categories include quarterly earnings reports, research collaborations, pipeline updates, and executive leadership announcements. All materials are sourced directly from company filings and reputable financial news outlets to ensure accuracy.
Bookmark this page for streamlined access to RXRX's latest progress in decoding complex diseases through computational biology. Check regularly for real-time updates on one of biotech's most technologically advanced drug discovery efforts.
Recursion (RXRX) and Exscientia (EXAI) have announced a definitive agreement to merge, creating a global technology-enabled drug discovery leader. The combination aims to leverage Recursion's biology exploration and Exscientia's precision chemistry design capabilities. Key highlights include:
- Expected annual synergies of approximately $100 million
- Combined pipeline with 10 clinical readouts expected in the next 18 months
- Potential for $200 million in milestone payments over 24 months
- Well-capitalized with $850 million in cash and equivalents
- Exscientia shareholders to receive 0.7729 shares of Recursion for each share owned
The merger is expected to close by early 2025, subject to shareholder and regulatory approvals. The combined company will retain the Recursion name and be headquartered in Salt Lake City, Utah.
Recursion (RXRX) announced a definitive agreement to combine with Exscientia, enhancing its drug discovery capabilities. Key highlights include:
1. 7 clinical trial readouts expected for Recursion and 10 collectively with Exscientia over the next 18 months.
2. First neuroscience phenomap optioned by Roche and Genentech, triggering a $30 million payment.
3. Combined deals have potential for over $20 billion in milestones plus royalties.
4. Q2 2024 financial results: Revenue of $14.4 million, up from $11.0 million in Q2 2023. Net loss of $97.5 million, compared to $76.7 million in Q2 2023.
5. Cash position of $474.3 million as of June 30, 2024.
6. Completed a follow-on public offering, raising net proceeds of $216.4 million.
Recursion (NASDAQ: RXRX), a leading clinical stage TechBio company, has announced its Q2 2024 financial results and business updates will be released on August 8, 2024, before market open. The company will host a live earnings call at 8:30 am ET / 6:30 am MT on the same day. This event will be streamed live on Recursion's social media platforms including X (formerly Twitter), LinkedIn, and YouTube.
The call is free and open to the public, with a focus on engaging a broad audience and providing opportunities for questions. Interested parties can submit questions in advance through a provided link. This approach demonstrates Recursion's commitment to transparency and shareholder engagement.
Recursion (NASDAQ: RXRX), a leading clinical stage TechBio company, has announced it will report its Q2 2024 financial results on Thursday, August 8, 2024, after market close. The company will host a public L(earnings) Call at 5:00 pm ET / 3:00 pm MT on the same day. This event will be live-streamed on Recursion's social media platforms, including X (formerly Twitter), LinkedIn, and YouTube. The call is free and open to the public, with an opportunity for attendees to submit questions. Recursion, known for its work in decoding biology to industrialize drug discovery, encourages participation from those interested in asking questions about the company's business developments.
Recursion Pharmaceuticals (NASDAQ: RXRX), a clinical stage TechBio company, announced the pricing of its public offering of 30,769,230 shares of Class A common stock at $6.50 per share, aiming to raise approximately $200 million. The offering includes a 30-day option for underwriters to purchase an additional 4,615,384 shares. The gross proceeds, before deducting underwriting discounts and commissions, are expected to be $200 million. The offering is set to close around June 28, 2024, pending customary closing conditions. Goldman Sachs and J.P. Morgan are the lead book-running managers. The shares are offered under a registration statement filed with the SEC on May 10, 2022.
Recursion Pharmaceuticals (NASDAQ: RXRX) announced a proposed public offering of $200 million in Class A common stock. The company has also granted underwriters a 30-day option to purchase up to an additional 15% of the shares offered. The offering will be managed by Goldman Sachs & Co. and J.P. Morgan, with Allen & Company also participating. The shares will be offered through a registration statement on Form S-3, effective since May 2022. Completion of the offering is subject to market and other conditions, and there is no assurance on its completion size or terms. Details of the final offering will be disclosed in a final prospectus supplement filed with the SEC.
Helix, a renowned genomics firm, has signed a multi-year agreement with Recursion Pharmaceuticals (NASDAQ: RXRX), a clinical-stage TechBio company. This partnership will grant Recursion access to Helix's expansive clinico-genomic data, derived from research participants across multiple health systems in the US. The data will help Recursion train AI models to enhance drug discovery, biomarker design, and patient stratification across diverse diseases. By merging Helix's data with Recursion's existing 25 petabytes of biological and chemical data, the aim is to fast-track the development of precision medicines.
Recursion (NASDAQ: RXRX), a clinical-stage TechBio company, provided updates on their pipeline and partnerships during the Download Day event on June 24, 2024. The company expects seven significant clinical trial readouts within the next 18 months. These include Phase 2 data for REC-994 in September 2024, REC-2282 in Q4 2024, REC-4881 for two conditions in H1 2025, REC-3964 by end of 2025, RBM39 with a series of milestones from Q3 2024 to end 2025, and Target Epsilon by end 2025.
Recursion also announced that Bayer would be the first beta-user of their LOWE workflow software, marking a significant step in their collaborative efforts. Additionally, they initiated a joint oncology project and are on track to deliver 25 data packages by Q3 2024. The company has also achieved industrial-scale advancements in ADME processes and genomic mapping, with a 90% success rate in predicting compound outcomes in certain experiments.
Recursion (NASDAQ: RXRX), a clinical-stage TechBio company specializing in drug discovery, announced its participation in three upcoming investor conferences:
1. Jefferies Healthcare Conference on June 5-6, 2024
2. 45th Annual Goldman Sachs Healthcare Conference on June 10-13, 2024
3. Morgan Stanley 3rd Annual Life Sciences AI Summit on June 26-27, 2024
The company aims to showcase its advancements in decoding biology and industrializing drug discovery at these events.
Recursion (Nasdaq: RXRX) has published significant findings in Nature Genetics, revealing a proximity bias in CRISPR-Cas9 gene editing. This bias, identified through Recursion's vast biological dataset, indicates large-scale structural changes in the genome caused by CRISPR-Cas9. The study, titled “High-resolution genome-wide mapping of chromosome-arm-scale truncations induced by CRISPR–Cas9 editing,” presents a debiasing algorithm to correct this issue.
Recursion's approach uses proprietary AI to analyze high-dimensional measurements from edited cells, creating detailed biological maps. These findings have wide implications for understanding disease mechanisms and developing new therapeutic approaches. The company also confirmed the presence of this bias in public data sets and proposed solutions to improve data quality.
Imran Haque, SVP of AI and Digital Sciences at Recursion, emphasized the importance of these findings for the scientific community and the ongoing efforts to enhance drug discovery and gene editing.
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