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Sep 30, 2022
Recursion Pharmaceuticals Q3 2022 Earnings Report
Recursion Pharmaceuticals' financial performance and business updates for the third quarter of 2022 were reported.
Key Takeaways
Recursion Pharmaceuticals reported a revenue of $13.2 million and a net loss of $60.4 million for the third quarter of 2022. The company initiated several clinical trials and nominated a new clinical program. They also completed a private placement offering, raising gross proceeds of approximately $150.3 million.
Initiated Phase 2 clinical trial for familial adenomatous polyposis (FAP).
Initiated Phase 1 clinical trial for Clostridium difficile colitis.
Nominated a new clinical program in AXIN1/APC mutant cancers.
Raised approximately $150 million in a private placement offering.
Revenue by Segment
Forward Guidance
Recursion continues to advance its pipeline and platform with a focus on oncology and technology-enabled drug discovery.
Positive Outlook
- Advancing internal pipeline programs.
- Transformational collaborations progressing.
- Building out scaled transcriptomics platform.
- Developing industrialized validation process.
- Using digital tolerability for dose selection.
Challenges Ahead
- Challenges inherent in pharmaceutical research and development.
- Risk of failure in preclinical and clinical programs.
- Dependence on obtaining financing for development activities.
- Cyberattacks or other disruptions to technology systems.
- Inflation and other macroeconomic issues.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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