By Chris Wack
Recursion Pharmaceuticals shares were down 7% to $7.12 after the company reported a fourth-quarter loss that was wider than analysts expected.
The clinical-stage biotechnology company said it had a quarterly loss of $178.9 million, or 53 cents a share, compared with a loss of $93 million, or 42 cents a share, in the same quarter a year prior. Analysts polled by FactSet were looking for a loss of $124.8 million, or 41 cents a share.
Revenue for the quarter was $4.55 million, compared with last year's $10.9 million and the $15.3 million analysts were expecting.
The company said that for the fourth quarter, the decrease of revenue compared to the prior period was due to the timing of projects from its collaboration with Roche and Genentech.
Recursion had a cash position of $603 million as of Dec. 31, compared with $401.4 million as of Dec. 31, 2023. On a combined basis, Recursion expects its cash runway to extend into 2027.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 28, 2025 10:09 ET (15:09 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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