📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Recursion Pharmaceuticals, Inc., a clinical-stage biotechnology company, engages in the decoding biology and chemistry by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery in the United States and the United Kingdom.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding RXRX

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Manager	Shares	Value	% of Fund	Period
Cathie Wood ARK Investment Management	40.21M	$123.5M	0.96%	Mar 2026
Jim Simons Renaissance Technologies LLC	2.40M	$7.4M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management used enthusiastic language like 'really exciting', 'incredible', 'we had a good quarter', and provided specific numbers (cash, milestones, patient data) and timelines for pipeline catalysts, with no defensive or evasive tone.

Q3 2025

Confident Specific

Management uses strong positive language such as 'extraordinarily excited,' 'incredible partnership,' 'bold focus,' and 'good capital stewardship.' They provide specific numbers: $30M milestone, $785M cash, $500M+ partnership inflows, and expense reduction percentages.

Q4 2025

Confident Specific

The tone is confident and specific, evidenced by statements like 'first positive proof of concept with FAP', 'fifth milestone with Sanofi', and 'extending cash runway into early 2028'. Management repeatedly highlighted tangible achievements and platform metrics without hedging.

Q1 2026 latest

Confident Specific

Management repeatedly used concrete numbers (30% OpEx reduction, 10 milestones, $500M partner payments, 5 wholly owned programs) and specific progress milestones (FDA engagement initiated, 16 patients dosed, no DLTs). Language like 'compelling proof of concept', 'exciting to share', and 'on track' conveys certainty without overpromising.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Recursion has delivered its first clinical proof of concept (REC-4881 in FAP) and provided early safety data for REC-1245 without major toxicity, supporting the platform's ability to generate differentiated programs. The 30% OpEx reduction and 2028 runway alleviate near-term financing overhang. Key catalysts to watch: REC-4881 FDA feedback and potential registrational study design, further REC-1245 dose escalation data (H2 2026), and partner opt-in decisions from Sanofi and Roche. The platform metrics (90% fewer compounds, 2x speed) are impressive but still early; investors should monitor whether these translate into higher probability of success in larger trials. Overall, the call increased confidence in execution but the next 12-18 months of clinical data and partner decisions will determine if the model is truly repeatable.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Recursion advances AI-driven drug pipeline with $665M cash runway through early 2028.

Revenue & Profitability

Recursion reported a 30% year-over-year reduction in cash operating expenses and ended Q1 2026 with $665 million in cash equivalents. Cash OpEx guidance for 2026 remains less than $390 million. The company expects operating runway through early 2028 without additional financing. No revenue, net income, or operating income figures were disclosed in the transcript.

Outlook

Management focused on translating AI platform advantages into clinical proof points, emphasizing that only about 10% of biology is understood by the industry. They view the potential to unlock intractable diseases through foundation models and large-scale multimodal maps. No explicit macroeconomic tailwinds or headwinds were discussed; the call centered on internal milestones and platform progress.

Growth Drivers

Key growth drivers include the wholly owned pipeline with five programs (REC-4881 for FAP, REC-1245 for solid tumors/lymphoma, REC-4539 for small-cell lung cancer/AML) each having clear catalysts over the next 12-18 months. Partner programs with Sanofi (chemistry AI for difficult targets) and Roche (biology maps for novel targets) are advancing toward opt-in decisions and development candidate milestones. Clinical development AI tools are shown to accelerate trial enrollment by 30-60% and expand eligible patient populations by up to 40%.

Balance Sheet & CapEx

Not discussed in detail. The call noted continued investment in the platform (compute, data generation, models) but without specific CapEx figures. Management stated they invest 'surgically' in areas that differentiate the platform, such as clinical AI, chemistry design models, and biology foundation models (TxPert, TxFM).

Margins

Not discussed explicitly. The company highlighted a 30% year-over-year reduction in cash operating expenses achieved through operational discipline and infrastructure simplification. No gross margin or operating margin figures were provided, but the focus on capital allocation and efficiency suggests a trajectory toward improved operating leverage as programs advance.

Key Risks

Key risks flagged include regulatory uncertainty for first-in-disease programs (e.g., REC-4881 in FAP) where no clear precedent exists, requiring close FDA alignment on endpoints. For REC-1245, potential hematotoxicity is a concern, though no Grade 3 heme tox has been seen to date. The company's ability to achieve opt-ins from partners remains an execution risk, though progress is being made.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-05

Reached a pivotal stage with five clinical programs and over $500M in partnership inflows. Lowered 2026 OpEx guidance by 40% and maintained a $557M cash runway. Advanced key assets in FAP and oncology, while partnerships validated the AI-native engine's ability to discover novel targets.

Q1 2026 Q1 2026 2026-05-06

AI-driven platform advances have led to clinical proof in multiple programs, strong partner inflows, and a 30% reduction in operating expenses. Cash runway extends into early 2028, with multiple clinical milestones and regulatory engagements expected in the next 12-18 months.

Q4 2025 Q4 2025 2026-02-25

First AI-enabled clinical proof of concept achieved in FAP, with strong progress across a diversified pipeline and $500M+ in partnership inflows. Operating expenses reduced 35% year-over-year, extending cash runway to early 2028.

Q3 2025 Q3 2025 2025-11-05

Leadership transition and strong financial discipline position the company for sustained growth, with $785M in cash and a runway through 2027. Key milestones include a $30M Roche/Genentech payment, robust pipeline progress, and continued AI-driven innovation.

Q2 2025 Q2 2025 2025-08-05

Integrated Exscientia and Recursion platforms have accelerated drug discovery, with strong cash reserves and multiple clinical and partnership milestones achieved. Guidance remains unchanged, with a cash runway through Q4 2027 and several key readouts expected in the next 18 months.

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