Business
Recursion Provides Business Updates and Reports Third Quarter 2021 Financials
- Received Fast Track Designation for REC-2282, a potential treatment for NF2 meningiomas, and expect to enroll the first patient in a Phase 2/3 trial in
About this update from Recursion Pharmaceuticals, Inc.
[{"type":"text","content":"- Received Fast Track Designation for REC-2282, a potential treatment for NF2 meningiomas, and expect to enroll the first patient in a Phase 2/3 trial in early 2022\n - Advanced REC-994, a potential treatment for CCM, and now expect to enroll the first patient in a phase 2 trial in early 2022\n - Received Orphan Drug Designation from the FDA for REC-4881, a potential treatment for FAP, and expect to enroll the first patient in a Phase 2 trial in the first half of 2022\n - Continued to advance multiple simultaneous discovery programs in fibrosis with Bayer\n - Accelerated investment in the industrialization of chemistry to complement its longstanding work to decode biology\n\n\nSALT LAKE CITY, Nov. 10, 2021 /PRNewswire/ -- Recursion (Nasdaq : RXRX), a clinical-stage biotechnology company decoding biology by integrating technological innovations across biology, chemistry, automation, data science and engineering, today reported business updates and financial results for its third quarter ending September 30, 2021.\n\"In Q3, our team made progress towards our vision to industrialize drug discovery. We are now harvesting the efforts of the past few years to build a map of human cellular biology through the continued refinement and increased usage of our inference-based approach to drug discovery. With the power of our Recursion Map illuminating new and exciting relationships in biology, we are now deeply focused on extending our chemistry capabilities to significantly improve, scale and speed up new chemical entity development to address the plethora of novel biological relationships we are discovering,\" said Recursion Co-Founder & CEO Chris Gibson, Ph.D. \"In addition, our rapidly growing development team is preparing for our four clinical-stage programs to initiate Phase 2 or Phase 2/3 studies in the first half of 2022, including two of the programs that we expect will enroll their first patients in early 2022. To facilitate our broad ambition, we continue to rapidly grow our workforce while nurturing Recursion's culture and community.\"\nRecursion finished the third quarter of 2021 with a portfolio of 4 clinical stage programs, 4 preclinical programs, 7 late discovery programs, and 41 early discovery programs. Additionally, Recursion continued scaling the total number of executed phenomic experiments to approximately 95 million,...