Recursion Q2 net loss narrows to $131.01 million; revenue drops to $7.67 million

Genentech exercised the first Validated Target Option in the neuroscience collaboration, advancing a previously unexplored target into a joint early discovery small-molecule program.

Recursion lowered 2026 cash operating expense guidance to below $375 million from below $390 million; REC-7735 IND cleared with Phase 1/2 start expected in the second half of 2026.

Recursion posted a second-quarter net loss of $131 million, narrowing from $171.9 million a year earlier; revenue fell 59.93% to $7.7 million.

Research and development expense dropped 30.33% to $89.6 million, on lower platform costs tied to Tempus record purchases; general and administrative expense declined 10.93% to $41.5 million.

Cash, cash equivalents and restricted cash totaled $556.8 million at June 30, down from $753.9 million at Dec. 31; cash runway forecast extends into early 2028.