** Shares of Nvidia-backed AI drug developer Recursion Pharmaceuticals RXRX.O fall 13% to $6.67 premarket
** The company posts Q4 revenue of $4.5 million, missing analysts' estimate of $19 million, according to data compiled by LSEG
** Reports Q4 net loss of 53 cents per share versus a loss estimate of 43 cents per share
** Recursion wants to be the Amazon Prime of pharma by adopting a subscription model for selling its pipeline of medicines, Bloomberg reports
** The company files for stock offering of up to $500 million - filing
** It has ~390 mln outstanding shares, with a market capitalization of $3 bln, according to data compiled by LSEG
** RXRX has fallen ~51% in the last 12 months
(Reporting by Siddhi Mahatole)
((Siddhi.mahatole@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.