Recursion Pharmaceuticals, a clinical-stage TechBio company, reported a net loss of $95.8 million for the third quarter of 2024, a slight increase from the $93.0 million loss in the same period of 2023. The nine-month period ended September 30, 2024, saw a net loss of $284.8 million, compared to $235.1 million in 2023. Despite the losses, operating revenue showed significant growth, with a more than 100% increase to $26.1 million for the quarter and a 62% rise to $54.3 million for the nine-month period. This growth was attributed to the strategic partnership with Roche, including a $30.0 million acceptance fee for a neuroscience Phenomap. Recursion's operating costs and expenses also rose, with research and development expenses climbing to $74.6 million for the quarter, up 7% from the previous year. General and administrative...Show More

Recursion Pharmaceuticals, a clinical-stage TechBio company, reported a net loss of $95.8 million for the third quarter of 2024, a slight increase from the $93.0 million loss in the same period of 2023. The nine-month period ended September 30, 2024, saw a net loss of $284.8 million, compared to $235.1 million in 2023. Despite the losses, operating revenue showed significant growth, with a more than 100% increase to $26.1 million for the quarter and a 62% rise to $54.3 million for the nine-month period. This growth was attributed to the strategic partnership with Roche, including a $30.0 million acceptance fee for a neuroscience Phenomap. Recursion's operating costs and expenses also rose, with research and development expenses climbing to $74.6 million for the quarter, up 7% from the previous year. General and administrative expenses increased by 29% to $37.8 million. The company's cash and cash equivalents stood at $427.6 million as of September 30, 2024, which they believe will fund operations for at least the next twelve months. Recursion continues to focus on its pipeline, including clinical trials for various treatments such as Cerebral Cavernous Malformation and Neurofibromatosis Type 2, and expects to share more data in the coming years. The company also highlighted its expanded collaboration with Google Cloud to support its drug discovery platform and the potential acquisition of Exscientia, which is subject to certain closing conditions.