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Sep 30, 2024
Recursion Pharmaceuticals Q3 2024 Earnings Report
Reported business updates and financial results for the third quarter ending September 30, 2024.
Key Takeaways
Recursion Pharmaceuticals reported its Q3 2024 financial results, with a focus on the anticipated closing of the business combination with Exscientia. The company highlighted multiple clinical trial milestones and an expanded collaboration with Google Cloud. Total revenue increased to $26.1 million, driven by the Roche & Genentech partnership and a $30 million acceptance fee for a neuroscience phenomap.
Multiple clinical trial milestones were achieved, including Phase 2 data for CCM and first patient dosed for C. difficile infection Phase 2 trial.
First neuroscience phenomap was optioned by Roche-Genentech for $30 million, potentially exceeding $500 million.
Expanded collaboration with Google Cloud to support the drug discovery platform.
Business combination with Exscientia is advancing towards close, with a special shareholder meeting on November 12, 2024.
Revenue by Segment
Forward Guidance
Recursion expects to host an Update Call around the date of the scheme of arrangement which is expected to be Nov 20, 2024.
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