Welcome to our dedicated page for Recursion Pharmaceuticals news (Ticker: RXRX), a resource for investors and traders seeking the latest updates and insights on Recursion Pharmaceuticals stock.
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 (NASDAQ: RXRX), a clinical-stage TechBio company specializing in drug discovery, announced its participation in three upcoming investor conferences:
1. Jefferies Healthcare Conference on June 5-6, 2024
2. 45th Annual Goldman Sachs Healthcare Conference on June 10-13, 2024
3. Morgan Stanley 3rd Annual Life Sciences AI Summit on June 26-27, 2024
The company aims to showcase its advancements in decoding biology and industrializing drug discovery at these events.
Recursion (Nasdaq: RXRX) has published significant findings in Nature Genetics, revealing a proximity bias in CRISPR-Cas9 gene editing. This bias, identified through Recursion's vast biological dataset, indicates large-scale structural changes in the genome caused by CRISPR-Cas9. The study, titled “High-resolution genome-wide mapping of chromosome-arm-scale truncations induced by CRISPR–Cas9 editing,” presents a debiasing algorithm to correct this issue.
Recursion's approach uses proprietary AI to analyze high-dimensional measurements from edited cells, creating detailed biological maps. These findings have wide implications for understanding disease mechanisms and developing new therapeutic approaches. The company also confirmed the presence of this bias in public data sets and proposed solutions to improve data quality.
Imran Haque, SVP of AI and Digital Sciences at Recursion, emphasized the importance of these findings for the scientific community and the ongoing efforts to enhance drug discovery and gene editing.
Recursion (NASDAQ: RXRX) has appointed Dr. Robert Hershberg as the new Chair of the Board, effective at the end of the current term. Dr. Hershberg, who has over 25 years of experience in the healthcare sector, has been a board member since May 2020. He currently serves as CEO, President, and Chair of the Board of HilleVax, and is also involved with Frazier Healthcare Partners and several other biopharmaceutical companies. He succeeds Martin Chavez, who led Recursion for over four years. Dr. Hershberg's expertise is expected to bolster Recursion's growth in drug discovery and clinical trials.
CEO Chris Gibson and outgoing Chair Martin Chavez expressed optimism about Dr. Hershberg's leadership. Chavez highlighted the importance of TechBio in revolutionizing biopharma, noting Recursion's leadership in this domain.
Recursion announced the completion of BioHive-2, the largest supercomputer in the pharmaceutical industry, powered by NVIDIA technology. BioHive-2 is four times faster than its predecessor, BioHive-1, and accelerates AI-driven drug discovery efforts. The supercomputer enables the development of new foundation models like Phenom-1 and Phenom-Beta, advancing drug discovery processes. Recursion's collaboration with Enamine resulted in the prediction of protein targets for billions of chemical compounds, leading to enriched compound libraries for drug discovery.
Recursion, a leading clinical stage TechBio company, reported multiple business updates and financial results for Q1 2024. The company is on track to read out Phase 2 clinical trials in the coming quarters, completed benchmarking on its next-gen supercomputer, expanded transcriptomics technology, and partnered with Helix. Despite positive advancements in pipeline development and platform capabilities, Recursion reported an increase in research and development expenses, leading to a net loss of $91.4 million for Q1 2024.
Recursion (NASDAQ: RXRX) will report its first quarter 2024 financial results on May 9, 2024. The company will host a L(earnings) Call to discuss business updates and interact with the public. This event is free and open to all, with questions welcomed.
Recursion (NASDAQ: RXRX) will be participating in the Bank of America Securities Healthcare Conference on May 14-16, 2024, and the 52nd Annual JP Morgan Global Technology Conference on May 20-22, 2024. The company aims to showcase its innovative approach to drug discovery.
Altitude Lab has secured a Small Business Administration Growth Fund Accelerator Grant to launch Horizon, a commercialization program connecting biotech startups with partners and investors nationwide. The program aims to address the challenges in connecting startups to distributors and biopharma partners. Altitude Lab has formed partnerships with industry leaders to support the program's launch. The grant signifies Altitude Lab's commitment to fostering innovation in Utah's biotech sector.
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