Recursion Pharmaceuticals Q3 net loss narrows more than expected on lower costs
RXRX•Recursion Pharmaceuticals reported Q3 net loss of $119.04 million, beating the $121.71 million analyst estimate, while revenue of $18.06 million also beat expectations. The company extended its expected cash runway into 2029 and reiterated operating expense guidance for 2026 and 2027.
1. Q3 results
Q3 operating revenue rose to $18.06 million from analyst expectations of $14.78 million, driven primarily by a $10 million milestone payment from Sanofi. Net loss narrowed year over year to $119.04 million, versus the $121.71 million consensus estimate.
2. Costs and outlook
Research and development expenses fell mainly because the quarter did not include prior-year costs related to acquiring full rights to REC-102. General and administrative expenses also declined, reflecting lower infrastructure technology and professional service costs. Recursion extended its expected cash runway into 2029 after a recent capital raise and reiterated cash operating expense guidance of less than $375 million in 2026 and less than $360 million in 2027.
3. Pipeline plans
The company expects to initiate a registrational trial for REC-4881 in the second half of 2027, pending FDA discussions, and expects preliminary dose expansion data for REC-1245 in endometrial cancer in the second half of 2027.
