Recursion PharmaceuticalsNASDAQ: RXRX

Salt Lake City, June 26, 2024 (GLOBE NEWSWIRE) -- Recursion Pharmaceuticals, Inc. (“Recursion”) (NASDAQ: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today announced the pricing of its underwritten public offering of 30,769,230 shares of its Class A common stock at a price to the public of $6.50 per share. All of the shares are to be sold by Recursion. In addition, Recursion has granted the underwriters a 30-day option to purchase up to an additional 4,615,384 shares of its Class A common stock.  Before deducting the underwriting discounts and commissions and estimated offering expenses, Recursion expects to receive total gross proceeds of approximately $200 million, assuming no exercise of the underwriters' option to purchase additional shares. The offering is expected to close on or about June 28, 2024, subject to satisfaction of customary closing conditions.

Recursion Pharmaceuticals (RXRX) reachead $9.38 at the closing of the latest trading day, reflecting a +0.43% change compared to its last close.

Chris Gibson, Recursion Pharmaceuticals CEO, joins 'Closing Bell Overtime' to talk its partnership with Nvidia, its investors day, drug discovery and more.

SALT LAKE CITY, June 24, 2024 (GLOBE NEWSWIRE) -- Recursion (NASDAQ: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, will give updated pipeline guidance to investors, analysts, and other stakeholders during Download Day, Recursion's investor and R&D day, on Monday, June 24, 2024.

This thesis makes the case for an investment in Recursion Pharmaceuticals operating as a TechBio which "industrializes" the process of drug discovery in contrast to a typical biotech. The difference between TechBio and biotech may appear subtle, but is an important one that may have motivated Nvidia to invest $50 million. Based on the value of its platform and data assets, it is a buy with a 48.5% upside potential.

Recursion Pharmaceuticals is an AI-enabled drug discovery company, differentiated by its scale and focus on understanding biology. The company has a broad pipeline across various therapeutic areas and strategic partnerships with biopharmaceutical companies. While Recursion is probably the best positioned AI drug discovery company, the stock could pull back if AI hype fades.

Recursion hopes to transform the healthcare industry with its innovative drug discovery platform. The small company has gained the interest of Nvidia, which has invested in the business.

Biotechs that aspire to be disruptive are quite risky. However, they do offer the chance of disproportionate rewards.

Dr. Hershberg is a current board member with over 25 years of experience as a physician, scientist, and entrepreneur Dr. Hershberg is a current board member with over 25 years of experience as a physician, scientist, and entrepreneur