Quarterly ResultMay 6, 2026, 06:37 AM
Recursion Q1 Net Loss $117.5M; Cash Burn Reduced; Pipeline Advances
AI Summary
Recursion Pharmaceuticals reported a reduced net loss of $117.5 million for Q1 2026, down from $202.5 million in Q1 2025, alongside a significant decrease in net cash used in operating activities to $81.1 million. The company maintained a strong cash position of $665.2 million, extending its runway into early 2028. While revenue decreased to $6.5 million, R&D and G&A expenses saw substantial reductions. The company also provided positive updates on its clinical pipeline, including favorable early data for REC-1245, strong Phase 2 efficacy signals for REC-4881 with FDA engagement, and the dosing of the first patient in the Phase 1 study for REC-4539.
Key Highlights
- Net loss reduced to $117.5 million in Q1 2026 from $202.5 million in Q1 2025.
- Net cash used in operating activities decreased to $81.1 million in Q1 2026 from $132.0 million in Q1 2025.
- Cash, cash equivalents, and restricted cash totaled $665.2 million as of March 31, 2026, with runway into early 2028.
- Revenue decreased to $6.5 million in Q1 2026 from $14.7 million in Q1 2025.
- R&D expenses decreased to $87.9 million from $129.6 million YoY; G&A expenses to $34.6 million from $54.7 million YoY.
- REC-1245 (RBM39 degrader) showed well-tolerated safety and predictable PK in Phase 1/2, with no DLTs.
- REC-4881 (MEK1/2) Phase 2 demonstrated a median 43% polyp reduction, with FDA engagement initiated.
- First patient dosed in Phase 1 for REC-4539 (LSD1 inhibitor), designed for reduced platelet toxicity and brain penetrance.