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 biotechnology company, announced its participation in the SVB Securities Global Biopharma Conference scheduled for February 14-16, 2023. This event highlights Recursion's mission to advance drug discovery through its innovative platform that integrates biology, chemistry, and technology. The company utilizes cutting-edge machine learning algorithms and operates one of the world's most powerful supercomputers to analyze a vast dataset, enhancing drug development.
Headquartered in Salt Lake City, Recursion is also active in Toronto, Montreal, and the San Francisco Bay Area. For additional information, visit www.recursion.com.
Recursion (NASDAQ: RXRX) announced the public release of MolRec™, an interactive tool for exploring biological and chemical data, alongside RxRx3, its largest open-source dataset. The dataset spans 2.2 million images and includes 1,600 commercially available compounds. RxRx3 is 76 times larger than all previous datasets combined, representing less than 1% of Recursion's total data. This release aims to democratize access to novel therapeutic insights and facilitate more efficient drug discovery. The launch coincided with Recursion's first R&D Day, attended by analysts and investors, showcasing the company's innovative approach to decoding biology and chemistry.
Recursion (NASDAQ: RXRX), a clinical-stage biotechnology firm, has announced its participation in two upcoming investor conferences in January 2023. The company will be attending the 41st Annual J.P. Morgan Healthcare Conference from January 9 to January 12, and the 25th Annual Needham Growth Conference from January 10 to January 12. Recursion aims to industrialize drug discovery by leveraging advanced technologies and machine learning to build extensive biological and chemical datasets, propelling advancements in medicine.
Recursion (Nasdaq: RXRX) has initiated four clinical trials, including Phase 2 for familial adenomatous polyposis (FAP) and a new program targeting AXIN1/APC mutant cancers. The company raised approximately $150 million in a recent private placement, enhancing its financial position with cash reserves of $454.6 million as of September 30, 2022. Total revenue surged to $13.2 million, largely from a collaboration with Roche-Genentech, while R&D expenses rose to $40.8 million. The net loss increased to $60.4 million, compared to $47.4 million the previous year.
Recursion (NASDAQ: RXRX) announced its participation in two upcoming investor conferences. The Credit Suisse 31st Annual Healthcare Conference will take place from November 7 to November 10, 2022, followed by the Berenberg Discover AI Seminar 2022 on November 29, 2022. Recursion is focused on revolutionizing drug discovery through advanced technology and biology, aiming to provide breakthroughs in medicine.
Recursion (NASDAQ: RXRX) has announced a $150 million private placement of approximately 15.3 million shares of Class A common stock, led by Kinnevik AB. The shares are priced at $9.80, reflecting a 7% discount to the average share price over the prior five trading days. The funds will be utilized for general corporate purposes, including advancing existing clinical programs and enhancing technology capabilities. Morgan Stanley is the lead placement agent.
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