Recursion Pharmaceuticals, Inc. (RXRX) Stock

Recursion Pharmaceuticals, Inc. (RXRX) is a Healthcare stock trading at $3.33 (as of 2026-08-20), with a market capitalization of $1.77B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Recursion Pharmaceuticals, Inc. operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase IIa clinical trial to treat cerebral cavernous malformation; REC-2282 for the treatment of neurofibromatosis type 2; REC-4881 to treat familial adenomatous polyposis; and REC-3599, which is in Phase I clinical trial to treat GM2 gangliosidosis. Its preclinical stage product includes REC-3964 to treat Clostridium difficile colitis; REC-64917 for the treat of neural or systemic inflammation; REC-65029 to treat HRD-negative ovarian cancer; REC-648918 to enhance anti-tumor immune; REC-2029 for the treatment of wnt-mutant hepatocellular carcinoma; REC-14221 to treat solid and hematological malignancies; and REC-64151 for the treatment of immune checkpoint resistance in KRAS/STK11 mutant non-small cell lung cancer. The company has collaboration and agreement with Bayer AG; the University of Utah Research Foundation; Ohio State Innovation Foundation; Chromaderm, Inc.; and Takeda Pharmaceutical Company Limited. Recursion Pharmaceuticals, Inc. was incorporated in 2013 and is headquartered in Salt Lake City, Utah.

Understand Recursion Pharmaceuticals, Inc.: how it makes money

Recursion Pharmaceuticals develops clinical-stage therapies by industrializing drug discovery with biology, chemistry, automation, data science, and engineering, and it generates revenue through partnership revenue earned to date and operating revenue.

Because the company’s drug candidates are in clinical and preclinical stages, the company’s profit model is structurally driven by partnership and operating revenue while most value creation still depends on ongoing R&D output and clinical execution.

Revenue by segment (latest quarter)
Partner$0.5B
Operating$0.0B
Grants$0.0B

Business quality (Weak): The company shows measurable R&D activity metrics, and it reports partnership-linked revenue, but profitability is currently heavily negative and clinical and safety outcomes remain key risks.

Bull case

  • Recursion reports partnership-linked revenue (Partnership Revenue Earned To Date (Approximately)), indicating a revenue stream tied to its discovery work: Partnership Revenue Earned To Date (Approximately) is reported as 0.46 USD_B in the latest period.
  • The company provides platform-style productivity metrics for its chemistry work, which can be tracked over time: It reports both “Compounds Synthesized (Artificial Intelligence Enabled Chemistry) - Recursion” (300.0) and “Time to Synthesize Compounds (Average) - Recursion” (17.0).
  • Clinical progress indicators exist across multiple programs at different stages: REC-994 is in Phase IIa for cerebral cavernous malformation, and REC-2282 and REC-4881 are listed for neurofibromatosis type 2 and familial adenomatous polyposis respectively, while REC-3599 is in Phase I for GM2 gangliosidosis.

Bear case

  • Current profitability is deeply negative, implying ongoing costs exceed revenue: Gross margin is reported at -93.0% and operating margin at -1985.6% for the latest period.
  • Revenue appears limited relative to the company’s operating model, with partnership and small operating revenue reported and no grant revenue in the period: Grant Revenue is reported as 0.0, and Operating Revenue is reported as 0.01 USD_B.
  • Clinical tolerability and adverse-event rates can create enrollment, dosing, or regulatory risks: In the CDK7 monotherapy dose escalation context, “Grade Three Treatment-Related Adverse Event Rate” is 30.0% and “Discontinuation Rate Due to an Adverse Event” is 7.0%.
Valuation — source: SEC EDGAR (first-party)
Price$3.33
Market Cap$1.77B
Price / Book1.73
Price / Sales26.65
FCF Yield-18.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$74.68M
Net Margin-863.4%
Revenue Growth (YoY)-56.1%
EPS Growth (YoY)-56.0%
FCF Growth (YoY)-39.2%
Financial Health — source: SEC EDGAR
Altman Z-Score0.25 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($193.00M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEONajat Khan
Employees800
CountryUS
IPO Date2021-04-16

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.