Real space

Recursion Provides Business Updates and Reports Fourth Quarter and Fiscal Year 2023 Financial Results

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Tuesday, February 27, 2024
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SALT LAKE CITY, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Recursion (Nasdaq: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today reported business updates and financial results for its fourth quarter and fiscal year ending December 31, 2023.

Key Points: 
  • SALT LAKE CITY, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Recursion (Nasdaq: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today reported business updates and financial results for its fourth quarter and fiscal year ending December 31, 2023.
  • Research and Development Expenses: Research and development expenses were $69.5 million for the fourth quarter of 2023, compared to $44.0 million for the fourth quarter of 2022.
  • General and Administrative Expenses: General and administrative expenses were $30.5 million for the fourth quarter of 2023 compared to $19.8 million for the fourth quarter of 2022.
  • Net Loss: Net loss was $93.0 million for the fourth quarter of 2023, compared to a net loss of $57.5 million for the fourth quarter of 2022.

Recursion Provides Business Updates and Reports Second Quarter 2023 Financial Results

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Tuesday, August 8, 2023
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Revenue: Total revenue was $11.0 million for the second quarter of 2023, compared to $7.7 million for the second quarter of 2022.

Key Points: 
  • Revenue: Total revenue was $11.0 million for the second quarter of 2023, compared to $7.7 million for the second quarter of 2022.
  • Research and Development Expenses: Research and development expenses were $55.1 million for the second quarter of 2023, compared to $38.4 million for the second quarter of 2022.
  • General and Administrative Expenses: General and administrative expenses were $28.3 million for the second quarter of 2023, compared to $21.2 million for the second quarter of 2022.
  • Net Loss: Net loss was $76.7 million for the second quarter of 2023, compared to a net loss of $65.6 million for the second quarter of 2022.

Recursion Bridges the Protein and Chemical Space with Massive Protein-Ligand Interaction Predictions Spanning 36 Billion Compounds

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Tuesday, August 8, 2023
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“This achievement represents a significant and exciting step toward achieving our mission of decoding biology and chemistry,” said Chris Gibson, Ph.D., Co-Founder and CEO of Recursion.

Key Points: 
  • “This achievement represents a significant and exciting step toward achieving our mission of decoding biology and chemistry,” said Chris Gibson, Ph.D., Co-Founder and CEO of Recursion.
  • “We are excited to collaborate with Recursion to explore the chemical space and support our mission to accelerate drug discovery,” said Andrey Tolmachev, Ph.D., Founder and Owner of Enamine.
  • He continued: “This achievement in the 36 Billion REAL Space is just a start of our journey.
  • The chemical knowledge accumulated at Enamine over its 35-years history allows us to explore trillions of relationships without compromising the high success rate of synthesis.