Recursion Pharmaceuticals (NASDAQ: RXRX) is a clinical-stage biotechnology company that integrates advanced technologies across biology, chemistry, automation, data science, and engineering to decode complex biological systems. Here's an updated overview of the company's financials, partnerships, technological advancements, product pipeline, and other pertinent information:
Financial Overview
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Cash Position: As of December 31, 2024, Recursion reported cash, cash equivalents, and restricted cash totaling $603.0 million, up from $401.4 million on the same date in 2023. ir.recursion.com
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Revenue: The company achieved total revenue of $83 million for the fiscal year 2024, reflecting a strong financial performance. tipranks.com
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Research and Development Expenses: R&D expenses were $74.6 million for Q3 2024, up from $70.0 million in Q3 2023, indicating continued investment in platform expansion and upgrades. globenewswire.com
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Net Loss: The net loss for Q3 2024 was $95.8 million, compared to $93.0 million in Q3 2023, reflecting ongoing investments in research and development. globenewswire.com
Strategic Partnerships
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NVIDIA: In July 2023, NVIDIA invested $50 million in Recursion to accelerate the development of AI foundation models for biology and chemistry. This collaboration leverages Recursion's extensive proprietary dataset and NVIDIA's cloud services, including the DGX™ Cloud and BioNeMo platform, to enhance drug discovery capabilities. en.wikipedia.org
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Roche and Genentech: In December 2021, Recursion entered into a partnership with Roche and its subsidiary Genentech, potentially worth up to $12 billion, to advance therapies in neuroscience and other areas. en.wikipedia.org
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Bayer: The company has a strategic collaboration with Bayer focusing on oncology research, building upon a previous partnership targeting fibrotic diseases. en.wikipedia.org
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Exscientia Acquisition: In August 2024, Recursion acquired UK-based biotechnology company Exscientia for $688 million, adding a technology-enabled clinical pipeline and precision chemistry capabilities. globenewswire.com+1en.wikipedia.org+1
Technological Infrastructure
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Recursion OS: The company's proprietary operating system integrates wet-lab and dry-lab biology experiments, enabling the generation of massive datasets to map and navigate complex biological relationships. sec.gov
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BioHive-2 Supercomputer: In May 2024, Recursion completed BioHive-2, an NVIDIA-powered AI supercomputer comprising 63 DGX H100 systems with a total of 504 NVIDIA H100 Tensor Core GPUs. Ranked #35 in the TOP500 list of the world's most powerful supercomputers, BioHive-2 significantly enhances Recursion's computational capabilities, facilitating more efficient training of large-scale AI models.
Product Pipeline and Clinical Developments
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REC-994: This experimental drug targets cerebral cavernous malformation (CCM), a rare brain-related condition. In a mid-stage study reported in September 2024, REC-994 demonstrated safety and tolerability. MRI-based data indicated that the highest dose reduced the number of lesions. However, improvements reported by patients or doctors were not observed at the end of the 12-month treatment period. Recursion plans to meet with the U.S. Food and Drug Administration to discuss further clinical studies. Reuters
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Clinical Trial Outlook: Recursion anticipates seven clinical trial readouts over the next 18 months for its programs and approximately ten readouts collectively over the same period, including those from the Exscientia acquisition. globenewswire.com+1en.wikipedia.org+1
Intellectual Property
- Patent Portfolio: As of February 2025, Recursion holds a total of 149 patents globally, with 58 granted. Notably, over 78% of these patents remain active. The majority are filed in the United States, followed by Europe and Canada.
Conclusion
Recursion Pharmaceuticals continues to leverage its robust financial position, strategic partnerships, and advanced technological infrastructure to pioneer AI-driven drug discovery and development. The company's expanding patent portfolio and active clinical pipeline underscore its commitment to transforming the pharmaceutical industry through innovative approaches to complex diseases.
