Summary by Moomoo AI
Recursion Pharmaceuticals, a clinical-stage TechBio company, reported a net loss of $95.8 million for the third quarter of 2024, a slight increase from the $93.0 million loss in the same period of 2023. The nine-month period ended September 30, 2024, saw a net loss of $284.8 million, compared to $235.1 million in 2023. Despite the losses, operating revenue showed significant growth, with a more than 100% increase to $26.1 million for the quarter and a 62% rise to $54.3 million for the nine-month period. This growth was attributed to the strategic partnership with Roche, including a $30.0 million acceptance fee for a neuroscience Phenomap. Recursion's operating costs and expenses also rose, with research and development expenses climbing to $74.6 million for the quarter, up 7% from the previous year. General and administrative...Show More
