Recursion Pharma climbs after 20% staff reduction

ReutersJun 10, 2025 10:50 AM

Shares of Nvidia-backed AI drug developer Recursion Pharmaceuticals RXRX.O rise 3% to $5.53 premarket

Co says it is laying off 20% of its workforce

RXRX is narrowing its focus to develop drugs for rare diseases and cancers

Recursion's employee count grew from 515 to about 800 in 2024 after merging with Exscientia, according to SEC filing

Co aims to reduce its cash burn to below $450 mln in 2025 and under $390 mln in 2026

Restructuring expected to extend co's cash reserves into late 2027

As of last close, stock down 20.5% YTD

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