Business
Recursion Provides Business Updates and Reports Third Quarter 2022 Financial Results
Initiated our Phase 2 clinical trial for the potential treatment of familial adenomatous polyposis (FAP)Initiated our Phase 1 clinical trial for the potential
About this update from Recursion Pharmaceuticals, Inc.
[{"type":"text","content":"Initiated our Phase 2 clinical trial for the potential treatment of familial adenomatous polyposis (FAP)Initiated our Phase 1 clinical trial for the potential treatment of Clostridium difficile colitisNominated a new clinical program in AXIN1/APC mutant cancers with an initial focus on hepatocellular carcinoma and ovarian cancer, for which a Phase 2 clinical trial is being plannedRaised gross proceeds of approximately $150 million in a private placement offeringSALT LAKE CITY, Nov. 8, 2022 /PRNewswire/ -- Recursion (Nasdaq: RXRX), the clinical-stage biotechnology company industrializing drug discovery by decoding biology, today reported business updates and financial results for its third quarter ending September 30, 2022.\n\"We are excited to have initiated four clinical trials in the past three quarters,\" said Chris Gibson, Ph.D., Co-Founder & CEO at Recursion. \"In addition, our first clinical stage program discovered using our mapping and navigating approach to biology was nominated as a clinical stage program, with a Phase 2 clinical trial being planned now. We believe that our consistency in advancing our internal pipeline and transformational partnerships coupled with our willingness to continuously evolve our platform to more completely map and navigate biology and chemistry highlight Recursion as a leader within technology-enabled drug discovery.\"\n\nSummary of Business Highlights\nInternal PipelineCerebral Cavernous Malformation (CCM) (REC-994): In March 2022, we announced the initiation of our Phase 2 SYCAMORE clinical trial, which is a double-blind, placebo-controlled safety, tolerability and exploratory efficacy study of this drug candidate in 60 participants with CCM. At this time, we continue to actively enroll participants. Neurofibromatosis Type 2 (NF2) (REC-2282): In June 2022, we announced the initiation of our Phase 2/3 POPLAR clinical trial, which is a parallel group, two stage, randomized, multicenter study of this drug candidate in approximately 90 participants with progressive NF2-mutated meningiomas. At this time, we continue to actively enroll participants.Familial Adenomatous Polyposis (FAP) (REC-4881): In September 2022, we announced the initiation of our Phase 2 TUPELO clinical trial, which is a multicenter, randomized, double-blind, placebo-controlled two-part clinical trial to evaluate efficacy, ...