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Recursion Pharmaceuticals | 10-K: Annual report

SEC announcement ·  Feb 29 08:33
Summary by Moomoo AI
Recursion Pharmaceuticals, a clinical-stage TechBio company, has reported on its business developments and future plans, emphasizing its commitment to decoding biology to industrialize drug discovery. The company's Recursion Operating System (OS) is central to its mission, enabling the mapping and navigation of biological, chemical, and patient-centric relationships across over 50 petabytes of proprietary data. Recursion has highlighted its expansive pipeline of clinical and preclinical programs, transformational partnerships, and an industry-leading dataset designed to accelerate value creation through its pipeline, partnerships, and technology products. The company has entered into significant collaborations with Bayer and Roche-Genentech in oncology and neuroscience, and with Enamine to generate enriched compound libraries for drug discovery. Recursion's financing history includes a successful...Show More
Recursion Pharmaceuticals, a clinical-stage TechBio company, has reported on its business developments and future plans, emphasizing its commitment to decoding biology to industrialize drug discovery. The company's Recursion Operating System (OS) is central to its mission, enabling the mapping and navigation of biological, chemical, and patient-centric relationships across over 50 petabytes of proprietary data. Recursion has highlighted its expansive pipeline of clinical and preclinical programs, transformational partnerships, and an industry-leading dataset designed to accelerate value creation through its pipeline, partnerships, and technology products. The company has entered into significant collaborations with Bayer and Roche-Genentech in oncology and neuroscience, and with Enamine to generate enriched compound libraries for drug discovery. Recursion's financing history includes a successful IPO in April 2021, raising net proceeds of $462.4 million, and subsequent private placements in October 2022 and July 2023, raising additional funds for operations. The company's future plans include sharing Phase 2 data for its Cerebral Cavernous Malformation (CCM) and Neurofibromatosis Type 2 (NF2) clinical trials, initiating a Phase 2 study for Clostridioides difficile Infection (REC-3964), and submitting an IND for a novel target in HR-proficient ovarian cancers and other solid tumors. Recursion's strategic approach to cybersecurity, with oversight by the Audit Committee of the Board of Directors, includes a comprehensive risk management process informed by the NIST Cybersecurity Framework. The company's facilities, including its corporate headquarters and operations in Canada, are deemed adequate for current needs, with leases extending into the late 2020s and early 2030s.

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