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Dec 31, 2023
Recursion Pharmaceuticals Q4 2023 Earnings Report
Reported business updates and financial results.
Key Takeaways
Recursion Pharmaceuticals reported a revenue of $10.9 million and a net loss of $93.0 million for the fourth quarter of 2023. The company's cash and cash equivalents totaled $391.6 million as of December 31, 2023.
Multiple clinical programs from Recursion's first generation platform are on track to read out Phase 2 data in H2 2024 and H1 2025.
In-licensed a program (Target Epsilon) that emerged from the fibrosis collaboration with Bayer.
Began incorporating causal AI models into the Recursion OS trained using data from Tempus.
Phase 2 SYCAMORE clinical trial is expected to share data in Q3 2024.
Recursion Pharmaceuticals
Recursion Pharmaceuticals
Forward Guidance
Recursion expects to share Phase 2 data for REC-994 in Q3 2024, Phase 2 safety and preliminary efficacy data for REC-2282 in Q4 2024, and Phase 2 safety and preliminary efficacy data for REC-4881 in H1 2025. They also anticipate initiating a Phase 2 study for REC-3964 in 2024 and submitting an IND for their RBM39 program in H2 2024.
Positive Outlook
- REC-994 Phase 2 data readout expected in Q3 2024.
- REC-2282 Phase 2 safety and preliminary efficacy data expected in Q4 2024.
- REC-4881 Phase 2 safety and preliminary efficacy data expected in H1 2025.
- REC-3964 Phase 2 study to be initiated in 2024.
- RBM39 IND submission expected in H2 2024.