Recursion Pharmaceuticals, Inc. Stock Price, News & Analysis

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.

Recursion (NASDAQ: RXRX), a clinical-stage biotechnology company, announced its participation in key investor conferences. The Morgan Stanley Global Healthcare Conference is set for September 12-14, 2022, followed by the Goldman Sachs Global Sustainability Forum on September 29, 2022. Recursion aims to industrialize drug discovery using its advanced platform, Recursion OS, which integrates vast biological and chemical datasets and powerful machine-learning algorithms. The company's cutting-edge approach enables it to conduct millions of experiments weekly, significantly enhancing drug development.

Recursion (RXRX) reported significant clinical and financial updates for Q2 2022, advancing multiple trials including Phase 2/3 for NF2-mutated meningiomas and a Phase 2 for Familial Adenomatous Polyposis (FAP). The FDA granted Fast Track and European Commission granted Orphan Drug designations for REC-4881, supporting its potential FAP treatment. Revenue rose to $7.7 million, up from $2.5 million in Q2 2021, driven by collaborations. However, R&D costs increased to $38.4 million, and the company reported a net loss of $65.6 million, overshadowing revenue growth.

Recursion (NASDAQ: RXRX), a clinical-stage biotechnology company, announced its participation in the KeyBanc Technology Leadership Forum from August 8 to August 9, 2022. The company's innovative approach utilizes advanced machine learning and extensive biological datasets to transform drug discovery. Based in Salt Lake City, Recursion is a key player in the life sciences sector, significantly enhancing pharmaceutical research through its Recursion OS platform. For further information, visit www.recursion.com.

Recursion (NASDAQ: RXRX) announced that the European Commission granted Orphan Drug Designation for REC-4881, aimed at treating familial adenomatous polyposis (FAP). REC-4881 is a small molecule MEK1 and MEK2 inhibitor, designed to reduce polyp burden in FAP patients. Currently, there are no approved therapies for FAP, which affects about 50,000 patients in the US and Europe. This designation follows similar approvals by the FDA, helping to advance REC-4881 towards a Phase 2 clinical trial by the end of Q3 2022.