Summary by Moomoo AI
Recursion Pharmaceuticals, a clinical-stage TechBio company, reported a net loss of $97.5 million for the three months ended June 30, 2024, and $188.9 million for the six months ended June 30, 2024. This represents an increase in net loss from $76.7 million and $142.1 million for the same periods in 2023, respectively. The company's accumulated deficit as of June 30, 2024, was $1.2 billion. Despite the losses, Recursion has cash and cash equivalents of $474.3 million, which is expected to fund operations for at least the next twelve months. In business development, Recursion has entered into a significant agreement with Exscientia to acquire all outstanding shares, with the transaction expected to close in early 2025. This move is anticipated to create a diverse portfolio of clinical and near-clinical programs and bring...Show More