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Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX) is a clinical-stage biotechnology company revolutionizing the field of drug discovery. By integrating technological innovations across biology, chemistry, automation, data science, and engineering, Recursion aims to decode biology and industrialize the drug discovery process.
Founded with a vision to radically improve patient lives, Recursion has developed a powerful drug discovery platform capable of conducting millions of rapid, automated experiments. This platform leverages the Recursion Operating System (OS), a sophisticated data and machine learning infrastructure, to accelerate the discovery of therapeutics, especially for rare genetic diseases.
Recent achievements include pioneering the use of machine learning in predicting protein-ligand interactions and partnering with major pharmaceutical companies like Bayer and Enamine. These collaborations have significantly enhanced Recursion's capabilities in chemical space exploration and drug discovery.
Financially, Recursion is robust, constantly expanding its dataset and computational resources, including operating one of the world's most powerful supercomputers, BioHive-2. This supercomputer, equipped with NVIDIA DGX H100 systems, significantly enhances their ability to train AI models and accelerate drug discovery.
Headquartered in Salt Lake City and with offices in Toronto, Montréal, and the San Francisco Bay Area, Recursion is a founding member of BioHive, the Utah life sciences industry collective. The company's horizontal business model focuses on discovery, allowing for cost-efficient operations by spreading risks across various therapeutic opportunities.
Significant News:
- Partnership with Enamine: Recursion announced a partnership with Enamine to leverage its MatchMaker tool for enriched screening libraries.
- Agreement with Bayer: Recursion in-licensed a novel molecule for treating fibrotic diseases from its collaboration with Bayer.
- Launch of LOWE: Demonstrated LOWE, an LLM-based software for drug discovery tasks, in collaboration with NVIDIA.
- London Expansion: Opened a new office in London and appointed Michael Bronstein as a Scientific Advisor.
- First Quarter 2024 Financial Results: Reported significant progress and upcoming value catalysts in drug discovery and technology advancements.
- BioHive-2 Supercomputer: Launched BioHive-2, a top-tier supercomputer, to enhance AI model training and drug discovery processes.
- Nature Genetics Publication: Published findings on proximity bias in CRISPR-Cas9 editing and proposed a debiasing algorithm.
For more information, visit Recursion Pharmaceuticals or follow their updates on Twitter and LinkedIn.
Recursion Pharmaceuticals (NASDAQ: RXRX) announced the approval of inducement restricted stock unit (RSU) awards by its Board's Compensation Committee on December 19, 2024. The grants cover 7,952,836 shares of class A common stock, distributed among 230 new employees under the company's 2024 Inducement Equity Incentive Plan. These awards were granted in connection with Recursion's acquisition of Exscientia plc. The RSUs will vest quarterly at a rate of 1/16th of shares on February 15, May 15, August 15, and November 15, starting February 15, 2025, contingent on continued employment.
Recursion (RXRX) announced interim Phase 1 clinical data for REC-617, their CDK7 inhibitor, showing promising results in advanced solid tumors. The study included 18 response-evaluable patients with doses ranging from 2mg to 20mg once daily and 1mg twice daily.
Key highlights include a confirmed partial response in a platinum-resistant ovarian cancer patient, ongoing after 6+ months of treatment, and stable disease in four additional patients for up to 6 months. The drug demonstrated favorable tolerability with predominantly Grade 1-2 adverse events and no treatment discontinuations.
REC-617 showed rapid absorption, dose-linear pharmacokinetics, and robust biomarker modulation. The company plans to continue monotherapy dose escalation and initiate combination studies in first half of 2025.
Recursion (NASDAQ: RXRX) has initiated dosing in its Phase 1/2 DAHLIA clinical trial of REC-1245, a novel RBM39 degrader targeting biomarker-enriched solid tumors and lymphoma. The drug, developed using AI-powered biology mapping, moved from target identification to IND studies in under 18 months. REC-1245 works by inducing splicing defects that downregulate DNA Damage Response networks and cell cycle checkpoints, potentially addressing over 100,000 patients in the US and EU5. The DAHLIA trial aims to evaluate safety, tolerability, and preliminary activity, while determining maximum tolerated dose for both single-agent use and combinations with other treatments.
Recursion (RXRX) and Exscientia have completed their business combination, with Exscientia becoming a wholly owned subsidiary of Recursion. The merged entity now features more than 10 clinical and preclinical programs, 10 advanced discovery programs, and over 10 partnered programs. The company has received $450M in upfront and milestone payments to date, with potential for over $20B in additional milestone payments. The combined platform integrates Exscientia's chemical design methods with Recursion's 60+ petabytes of proprietary data. The merged company will employ approximately 800 people, headquartered in Salt Lake City with offices across North America and Europe.
Recursion (RXRX) and Exscientia (EXAI) shareholders have approved their proposed business combination, with the transaction expected to close on November 20, 2024. The combined company will integrate Recursion's biological and chemical exploration capabilities with Exscientia's molecular design and automated chemistry synthesis expertise to enhance drug discovery processes. An update call is scheduled for November 20, 2024, at 7:30 a.m. ET. The final voting results will be disclosed in regulatory filings with the SEC.
Recursion (NASDAQ: RXRX) has released OpenPhenom-S/16, a publicly available foundation model in Google Cloud's Vertex AI Model Garden. The model, trained on over three million microscopy images from public datasets, sets a new performance standard for microscopy data analysis, outperforming traditional methods like CellProfiler. The model enables automated classification of cellular structures and pattern detection without requiring additional tuning. Alongside the model, Recursion is releasing the RxRx3-core dataset, which includes labeled images of 735 genetic knockouts and 1,674 small-molecule perturbations, designed to advance research in drug mechanism mapping.
Recursion (RXRX) reported Q3 2024 financial results with revenue of $26.1 million, up from $10.5 million in Q3 2023. The company achieved multiple clinical milestones, including positive Phase 2 CCM trial data and FDA clearance for a Phase 1/2 trial in biomarker-enriched tumors. Roche-Genentech optioned their first neuroscience phenomap for $30 million. The company expanded its collaboration with Google Cloud for drug discovery platform support. Q3 net loss was $95.8 million with cash position of $427.6 million. The pending business combination with Exscientia is expected to close on November 20, 2024.
Recursion (NASDAQ: RXRX) announced it will release its Q3 2024 business updates and financial results on November 6, 2024, after market close. The company will not hold its regular earnings call for Q3. Instead, Recursion plans to host an update call on November 20, 2024, following the expected completion of its proposed business combination with Exscientia. The call will be streamed live on Recursion's social media platforms, including X (formerly Twitter), LinkedIn, and YouTube, with opportunities for Q&A.
Recursion (NASDAQ: RXRX) has dosed the first patient in its Phase 2 clinical trial of REC-3964, an oral, non-antibiotic small molecule designed for recurrent Clostridioides difficile (C. diff) infection. The novel treatment selectively inhibits the glucosyltransferase activity of toxin B produced by C. diff, aiming to prevent recurrence while sparing the gut microbiome. C. diff infections cause significant morbidity and mortality, with up to 175,000 recurrent cases annually in the U.S. and high recurrence rates post-antibiotic treatment. Preclinical studies showed REC-3964's superiority over bezlotoxumab, and Phase 1 trials demonstrated its safety and tolerability. The Phase 2 ALDER trial will enroll around 80 participants across the U.S. and Europe to assess safety, tolerability, pharmacokinetics, and efficacy.
Recursion (NASDAQ: RXRX) has received FDA clearance for an Investigational New Drug (IND) application for REC-1245, a potential first-in-class RBM39 degrader targeting biomarker-enriched solid tumors and lymphoma. This program, developed using Recursion's AI-enabled active learning modules, progressed from target identification to IND-enabling studies in under 18 months.
The company plans to initiate a Phase 1/2 clinical trial in Q4 2024, evaluating REC-1245 in a biomarker-enriched patient population. Recursion identified RBM39's novel regulatory role associated with CDK12 using its maps of biology. The company estimates the initially addressable population for this potential therapeutic to be over 100,000 patients in the US and EU5.
Preclinical data suggest that RBM39 degradation induces splicing defects, downregulating DNA Damage Response networks and cell cycle checkpoints. The upcoming clinical trial will assess the safety, tolerability, pharmacokinetics, pharmacodynamics, and potential monotherapy efficacy of REC-1245.
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