Recursion Pharmaceuticals, Inc. (RXRX) stock plunged 5.87% in the pre-market trading session on Friday, following the company's fourth quarter and fiscal year 2024 financial results release. Despite reporting promising pipeline updates and partnership milestones, the biopharmaceutical company's revenue significantly missed analysts' expectations, weighing on investor sentiment.

For the fourth quarter, Recursion reported a net loss of $0.53 per share, wider than the FactSet consensus estimate of a $0.38 loss. Revenue came in at $4.55 million, falling short of the expected $19.04 million, representing a 76.13% miss.

The company highlighted several positive developments during the year, including promising safety and preliminary efficacy data for its oral CDK7 inhibitor REC-617 and meeting primary endpoints in a Phase 2 study of REC-994 for cerebral cavernous malformations. Additionally, Recursion advanced three new clinical studies across oncology, rare disease, and recurrent C. diff infection, and achieved milestones in partnerships with companies like Roche, Genentech, Sanofi, Bayer, and Merck KGaA.