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Pipeline (6 active programs)

Technology platforms

Discontinued (6)

• REC-3565 — Relapsed/Refractory B-Cell Lymphoma · strategic deprioritization; pursuing partnership opportunities
• REC-617 — Ovarian Cancer · strategic deprioritization; pursuing partnership opportunities
• REC-617 — Advanced Solid Tumors · strategic deprioritization; pursuing partnership opportunities
• REC-2282 — Neurofibromatosis Type 2 · discontinued as part of May 2025 portfolio prioritization; partnering opportunities being pursued
• REC-994 — Cerebral Cavernous Malformation · discontinued as part of May 2025 portfolio prioritization; partnering opportunities being pursued
• REC-3964 — Clostridioides Difficile Infection · discontinued as part of May 2025 portfolio prioritization; partnering opportunities being pursued

Capital (as filed)

Cash

$550M cash and cash equivalents · Sep 30, 2026 (10-Q)

Operating cash flow

−$77.4M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)

As stated in coverage

$749M cash per the update of Nov 2, 2026 — the company's own words as read there, not the filed figure

Offering documents (1)

• 2026-10-15 424B5 · Priced offering 61.5M shares · at $3.25 · $200M gross · 13.1% below the prior close ($3.74, Oct 14, 2026)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (3)

• 2026-11-03 UPDATE: Recursion Pharmaceuticals (RXRX) - The Plenary Came, the Endpoint Didn’t 🔒 Paid
• 2026-10-16 UPDATE: Recursion Pharmaceuticals (RXRX) - The Raise Came First 🔒 Paid
• 2026-09-23 Recursion Pharmaceuticals (RXRX) — Scientific Deep Dive for REC-4881, the Recursion OS, and Pipeline Products 🔒 Paid

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (3 calls)

Every verdict Biotech Distilled has published on Recursion Pharmaceuticals, oldest first — the full history, never a selection. How calls are scored: the track record.

1. 2026-09-23 Watch Recursion Pharmaceuticals (RXRX) — Scientific Deep Dive for REC-4881, the Recursion OS, and Pipeline Products REC-4881 has a real signal in a disease with no approved drug and the balance sheet funds the wait, but at ~$1.6B EV the stock is priced for a platform whose best clinical asset it did not design and whose patents expire before launch; stay on the sidelines until the FDA registrational-path update, the CGA-IGC plenary, and non-dilutive Phase 3 funding are resolved.
2. 2026-10-16 Watch UPDATE: Recursion Pharmaceuticals (RXRX) - The Raise Came First REC-4881's activity held at n=16 with improving discontinuation rate and REC-1245 showed first efficacy, but ~85M new shares were issued before the FDA endpoint decision that determines whether REC-4881 can be filed before April 2029, so the watch stance is maintained pending that update.
3. 2026-11-03 Watch UPDATE: Recursion Pharmaceuticals (RXRX) - The Plenary Came, the Endpoint Didn't The plenary added lower-GI and large-polyp data and a strategically credentialed new chair, but the FDA registrational-path endpoint — the single fact that determines REC-4881's value and filing timeline versus the April 2029 patent expiry — has slipped to 'later this year', leaving the watch stance unchanged.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (22)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Oct 15, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

• Nov 2, 2026ReleaseRecursion Appoints Fred Hassan as Chair of the Board→ BD updateSummary on the 8-K
• Nov 2, 2026ReleaseNew Phase 2 REC-4881 Data Presented at CGA-IGC Show Deep, Durable Polyp Burden Reductions in FAP, with Activity Across the GI Tract and in Larger, Higher-Risk Polyps→ BD updateSummary on the 8-K
• Nov 2, 2026ReleaseRecursion Reports Third Quarter 2026 Financial Results and Extends Cash Runway; Highlights Positive Clinical Data in REC-4881 and REC-1245, Sanofi Development Candidate Option and Appointment of Fred→ BD updateSummary on the 8-K
• Nov 2, 20268-KCurrent report: results of operations, officer / director change, Reg FD disclosure · EX-99.1→ BD updateThe CGA-IGC plenary I called a must-watch catalyst has landed — REC-4881's expanded TUPELO data strengthened across every GI compartment, and REC-1245 produced the first confirmed efficacy from a Recursion-designed molecule. The one watch-list trigger still outstanding: the FDA endpoint decision.
• Nov 2, 202610-QQuarterly report→ BD updateSummary on the 8-K
• Oct 26, 2026ReleaseRecursion to Host Webinar Focused on Updated REC-4881 (FAP) Data from CGA-IGC on Tuesday, November 3
• Oct 15, 2026ReleaseRecursion Announces Pricing of $200 Million Underwritten Offering of Class A Common Stock→ BD updateSummary on the 8-K
• Oct 15, 2026ReleaseRecursion Announces $200 Million Oversubscribed Follow-On Offering, Clinical Data Updates, and Partnership Milestone→ BD updateSummary on the 8-KBD extracted 2 program updates from this document → RXRX pipeline
• Oct 15, 2026ReleaseRecursion Announces Sanofi Options Potential First-in-Class Immunology Development Candidate from Their Collaboration→ BD updateSummary on the 8-K
• Oct 15, 20268-KCurrent report: material agreement, results of operations, Reg FD disclosure · EX-99.1→ BD updateRecursion delivered today on three fronts at once: expanded TUPELO data in FAP showing deep upper GI responses the prior writeup flagged as the hardest endpoint to crack, first REC-1245 clinical efficacy in solid tumors validating the platform thesis, and a $200M dilutive offering at $3.25 that buys runway to 2029 and funds the registrational trial the FDA path question has been pointing toward.BD extracted 2 program updates from this document → RXRX pipeline
• Oct 15, 2026424B5Prospectus supplement (offering)→ BD updateSummary on the 8-K
• Oct 15, 2026424B5Prospectus supplement (offering)→ BD updateSummary on the 8-K
• Sep 21, 20268-KCurrent report: material agreement
• Aug 5, 20268-KCurrent report: results of operations, Reg FD disclosure · EX-99.1
• Aug 5, 202610-QQuarterly report
• Jun 18, 20268-KCurrent report: shareholder vote
• May 6, 20268-KCurrent report: results of operations, Reg FD disclosure · EX-99.1
• May 6, 202610-QQuarterly report
• Apr 30, 2026DEFA14AProxy soliciting material
• Apr 30, 2026DEF 14AProxy statement
• Apr 30, 20268-KCurrent report: officer / director change, Reg FD disclosure · EX-99.1
• Mar 25, 20268-KCurrent report: officer / director change, Reg FD disclosure · EX-99.1