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Jun 30, 2022
Recursion Pharmaceuticals Q2 2022 Earnings Report
Recursion Pharmaceuticals reported financial results for the second quarter ending June 30, 2022.
Key Takeaways
Recursion Pharmaceuticals reported a revenue of $7.7 million for the second quarter of 2022, compared to $2.5 million for the second quarter of 2021. Net loss was $65.6 million for the second quarter of 2022, compared to a net loss of $43.4 million for the second quarter of 2021. Cash, cash equivalents and investments were $515.4 million as of June 30, 2022.
Actively enrolling participants in Phase 2/3 clinical trial for NF2-mutated meningiomas.
On track to initiate Phase 2 clinical trial for FAP in the third quarter of 2022.
U.S. FDA granted Fast Track designation and the European Commission granted Orphan Drug Designation for REC-4881 for FAP.
On track to initiate Phase 1 clinical trial for Clostridium difficile colitis in the second half of 2022.
Revenue by Segment
Forward Guidance
Recursion continues to make progress in advancing its clinical programs and leading the digital transformation of drug discovery.
Positive Outlook
- Initiating a Phase 2 trial for NF2-mutated meningiomas.
- Receiving U.S. FDA Fast Track and European Commission Orphan Drug designations for REC-4881 for the potential treatment of FAP.
- Focusing pipeline around rapidly deliverable oncology programs.
- Building additional capabilities into our Recursion OS platform.
- Scaling transcriptomics hit validation platform to up to 13 thousand near-whole exomes per week.
Challenges Ahead
- Continued capital markets friction.
- Challenges inherent in pharmaceutical research and development.
- Risk of failure in preclinical and clinical programs.
- Ability to obtain financing for development activities and other corporate purposes.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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