RXRX - Recursion Pharmaceuticals: Catalysts Are Coming And Success Is A Must
2024-06-14 13:28:07 ET
Summary
- Recursion Pharma is an AI-driven drug developer that boasts supercomputers designed to shorten drug development timelines and enhance successful outcomes.
- Many such companies have raised substantial sums from private equity and hedge funds but few have delivered in terms of tangible progress and share price gains.
- Recursion has pivoted towards developing its own drugs and has five candidates in the clinic, with multiple upcoming catalysts.
- Most noteworthy may be REC-994, which is indicated to treat cerebral cavernous malformation and will read out Phase 2 study results imminently.
- This is a disease indication with no approved drugs and ~360k patients - could this be the opportunity that triggers a reversal in share price fortunes?
Investment Overview - Why AI Companies Are Pivoting Towards Building Their Own Pipelines
I last covered Salt Lake City-based Recursion Pharmaceuticals ( RXRX ) for Seeking Alpha back in January this year, giving the stock a "hold" rating. My conclusion at the time was that the AI-driven drug discovery field in which the company operates was a little over-hyped, but that companies, including Recursion, should be given time to find their feet. nearly 6 months on, There have been some notable developments at the company, which I will cover in this post....
Recursion Pharmaceuticals: Catalysts Are Coming And Success Is A Must