Recursion Pharmaceuticals reported Q2 2024 financial results with operating revenue of $14.4M, up 31% YoY, while net loss widened to $97.5M from $76.7M YoY. The company ended the quarter with $474.3M in cash and cash equivalents, bolstered by a $216.4M public offering in June 2024.The company announced plans to acquire Exscientia in an all-stock transaction, with Recursion shareholders to own approximately 74% of the combined entity. The merger aims to create a comprehensive AI-driven drug discovery platform, combining Recursion's multimodal data and computing capabilities with Exscientia's precision design and automated chemistry platform. The transaction is expected to close in early 2025.Recursion continues to advance its clinical pipeline, with key data readouts expected for multiple programs including Phase 2 CCM data in September 2024 and NF2 preliminary results in Q4 2024. The company also strengthened its platform capabilities by operationalizing BioHive-2 supercomputer, ranked as the 35th most powerful globally, and completed its first genome-scale transcriptomics CRISPR knockout map in HUVEC cells.

Recursion Pharmaceuticals reported Q2 2024 financial results with operating revenue of $14.4M, up 31% YoY, while net loss widened to $97.5M from $76.7M YoY. The company ended the quarter with $474.3M in cash and cash equivalents, bolstered by a $216.4M public offering in June 2024.The company announced plans to acquire Exscientia in an all-stock transaction, with Recursion shareholders to own approximately 74% of the combined entity. The merger aims to create a comprehensive AI-driven drug discovery platform, combining Recursion's multimodal data and computing capabilities with Exscientia's precision design and automated chemistry platform. The transaction is expected to close in early 2025.Recursion continues to advance its clinical pipeline, with key data readouts expected for multiple programs including Phase 2 CCM data in September 2024 and NF2 preliminary results in Q4 2024. The company also strengthened its platform capabilities by operationalizing BioHive-2 supercomputer, ranked as the 35th most powerful globally, and completed its first genome-scale transcriptomics CRISPR knockout map in HUVEC cells.