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Sep 30, 2023
Recursion Pharmaceuticals Q3 2023 Earnings Report
Recursion Pharmaceuticals reported third quarter 2023 financial results and provided business updates.
Key Takeaways
Recursion Pharmaceuticals reported a revenue of $10.5 million and a net loss of $93.0 million for the third quarter of 2023. The company highlighted its collaboration with Tempus, the expansion of its supercomputer BioHive-1, and the updated collaboration with Bayer.
Entered into a collaboration with Tempus, gaining access to over 20 petabytes of multimodal oncology data.
Expanded the in-house supercomputer, BioHive-1, with NVIDIA H100 GPUs.
Updated collaboration with Bayer with higher per program milestones and broader use of Recursion's OS.
Roche-Genentech optioned its first partnership program in GI-oncology.
Recursion Pharmaceuticals
Recursion Pharmaceuticals
Forward Guidance
This document contains information that includes or is based upon "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, those regarding the outcomes and benefits expected from access to the real-world multimodal data held at Tempus; outcomes and benefits of deriving therapeutic hypotheses by linking molecular data and outcomes data; outcomes and benefits of expanding our supercomputer; early and late stage discovery, preclinical, and clinical programs, including timelines for data readouts; licenses and collaborations, including option exercises by partners and additional partnerships; prospective products and their potential future indications and market opportunities; Recursion OS and other technologies; business and financial plans and performance, including cash runway; and all other statements that are not historical facts.