Recursion Pharmaceuticals, a clinical-stage TechBio company, reported a net loss of $97.5 million for the three months ended June 30, 2024, and $188.9 million for the six months ended June 30, 2024. This represents an increase in net loss from $76.7 million and $142.1 million for the same periods in 2023, respectively. The company's accumulated deficit as of June 30, 2024, was $1.2 billion. Despite the losses, Recursion has cash and cash equivalents of $474.3 million, which is expected to fund operations for at least the next twelve months. In business development, Recursion has entered into a significant agreement with Exscientia to acquire all outstanding shares, with the transaction expected to close in early 2025. This move is anticipated to create a diverse portfolio of clinical and near-clinical programs and bring...Show More

Recursion Pharmaceuticals, a clinical-stage TechBio company, reported a net loss of $97.5 million for the three months ended June 30, 2024, and $188.9 million for the six months ended June 30, 2024. This represents an increase in net loss from $76.7 million and $142.1 million for the same periods in 2023, respectively. The company's accumulated deficit as of June 30, 2024, was $1.2 billion. Despite the losses, Recursion has cash and cash equivalents of $474.3 million, which is expected to fund operations for at least the next twelve months. In business development, Recursion has entered into a significant agreement with Exscientia to acquire all outstanding shares, with the transaction expected to close in early 2025. This move is anticipated to create a diverse portfolio of clinical and near-clinical programs and bring together transformational partnerships with leading pharma companies. Additionally, Recursion received a $30.0 million milestone payment from Roche-Genentech for the acceptance of a neuroscience Phenomap. Looking ahead, Recursion plans to continue leveraging its Recursion Operating System to industrialize drug discovery and expects to complete several clinical trials with data readouts in the next 18 months. The company also plans to submit an IND for a novel cancer treatment candidate and initiate a Phase 1/2 study by the end of 2024.