(RTTNews) - Recursion Pharmaceuticals, Inc. (RXRX), a clinical-stage TechBio company, on Monday, announced that it is deprioritizing three of its clinical programs and one preclinical program following a data-driven review. Shares are down nearly 5% in pre-market trading.
The clinical programs that are being deprioritized are REC-2282, REC-994, and REC-3964.
The company is discontinuing the development of REC-2282, which was being investigated for NF2-driven meningioma and neurofibromatosis type 2, as well as REC-994, which was aimed at treating symptomatic cerebral cavernous malformations, as the overall data no longer support continuing either program.
For REC-3964, which is under phase II trial for preventing recurrent C. difficile infection, dubbed ALDER, the company said it will consider out-licensing opportunities.
The preclinical program that is deprioritized is REC-4209, an oral candidate for idiopathic pulmonary fibrosis.
For the first quarter of 2025, net loss widened to $203 million or $0.50 per share from $91.4 million or $0.39 per share in the year-ago period.
Analysts, on average, had expected the company to report a loss of $0.52 per share. Analysts' estimates typically exclude special items.
The company generates revenue from collaborations with Roche, Sanofi, Bayer, and Merck KGaA. Total revenue, consisting primarily of revenue from collaboration agreements, was $15 million for the first quarter of 2025, compared to $14 million for the first quarter of 2024.
In the pre-market trading, Recursion is down nearly 4.91% at $5.42 on the Nasdaq.
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