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Recursion Pharmaceuticals Stock Dives 5% After Q2 Earnings Disappoint
Recursion Pharmaceuticals Stock Dives 5% After Q2 Earnings Disappoint
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BTCCSquare news:
Recursion Pharmaceuticals saw its shares plummet nearly 5% Tuesday following a disappointing Q2 earnings report. While revenue climbed to $19.2 million from $14.4 million year-over-year, the clinical-stage biotech's GAAP net loss widened sharply to $172 million ($0.41 per share) - far exceeding analyst estimates of a $0.35 per share loss.
The company's most advanced drug candidate, REC-617 for oncology, entered phase 1/2 trials this year. As a pre-revenue biotech, Recursion currently depends on collaborations with major pharmaceutical firms for income, though it didn't disclose specific partnership impacts in this release.
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