Recursion Pharmaceuticals, Inc. - RXRX STOCK NEWS

Recursion (NASDAQ: RXRX), a clinical-stage biotechnology company, announced its participation in the SVB Securities Global Biopharma Conference scheduled for February 14-16, 2023. This event highlights Recursion's mission to advance drug discovery through its innovative platform that integrates biology, chemistry, and technology. The company utilizes cutting-edge machine learning algorithms and operates one of the world's most powerful supercomputers to analyze a vast dataset, enhancing drug development.

Headquartered in Salt Lake City, Recursion is also active in Toronto, Montreal, and the San Francisco Bay Area. For additional information, visit www.recursion.com.

Recursion (NASDAQ: RXRX) announced the public release of MolRec™, an interactive tool for exploring biological and chemical data, alongside RxRx3, its largest open-source dataset. The dataset spans 2.2 million images and includes 1,600 commercially available compounds. RxRx3 is 76 times larger than all previous datasets combined, representing less than 1% of Recursion's total data. This release aims to democratize access to novel therapeutic insights and facilitate more efficient drug discovery. The launch coincided with Recursion's first R&D Day, attended by analysts and investors, showcasing the company's innovative approach to decoding biology and chemistry.

Recursion (NASDAQ: RXRX), a clinical-stage biotechnology firm, has announced its participation in two upcoming investor conferences in January 2023. The company will be attending the 41st Annual J.P. Morgan Healthcare Conference from January 9 to January 12, and the 25th Annual Needham Growth Conference from January 10 to January 12. Recursion aims to industrialize drug discovery by leveraging advanced technologies and machine learning to build extensive biological and chemical datasets, propelling advancements in medicine.

Recursion (Nasdaq: RXRX) has initiated four clinical trials, including Phase 2 for familial adenomatous polyposis (FAP) and a new program targeting AXIN1/APC mutant cancers. The company raised approximately $150 million in a recent private placement, enhancing its financial position with cash reserves of $454.6 million as of September 30, 2022. Total revenue surged to $13.2 million, largely from a collaboration with Roche-Genentech, while R&D expenses rose to $40.8 million. The net loss increased to $60.4 million, compared to $47.4 million the previous year.

Recursion (NASDAQ: RXRX) announced its participation in two upcoming investor conferences. The Credit Suisse 31st Annual Healthcare Conference will take place from November 7 to November 10, 2022, followed by the Berenberg Discover AI Seminar 2022 on November 29, 2022. Recursion is focused on revolutionizing drug discovery through advanced technology and biology, aiming to provide breakthroughs in medicine.

Recursion (NASDAQ: RXRX) has announced a $150 million private placement of approximately 15.3 million shares of Class A common stock, led by Kinnevik AB. The shares are priced at $9.80, reflecting a 7% discount to the average share price over the prior five trading days. The funds will be utilized for general corporate purposes, including advancing existing clinical programs and enhancing technology capabilities. Morgan Stanley is the lead placement agent.

Recursion (NASDAQ: RXRX) announced the initiation of two clinical trials: the Phase 2 TUPELO trial for REC-4881 targeting Familial Adenomatous Polyposis (FAP) and a Phase 1 trial for REC-3964 aimed at treating Clostridium difficile infection. The FAP trial, which has received Fast Track and Orphan Drug designations from the FDA, seeks to evaluate REC-4881’s efficacy in patients post-colectomy. REC-3964 is Recursion’s first in-house developed candidate entering clinical trials. In 2022, the company has now launched four clinical trials, showcasing ongoing progress despite industry challenges.