Recursion Pharmaceuticals (RXRX) investor relations material

Executive summary

• Integrated Recursion OS 2.0 post-Accenture merger and Exscientia acquisition, combining proprietary data, AI-driven platforms, and drug design for end-to-end drug discovery and clinical trial simulation.

• Advanced internal and partnered programs in oncology, rare diseases, and neuroscience, with key inflection points in late-stage assets like CDK7 (REC-617) and RBM39 (REC-1245).

• Achieved significant milestones in partnerships with Sanofi, Roche, Bayer, and Merck KGaA, including a fourth milestone with Sanofi and multiple phenomap deliveries.

• Streamlined operations and restructuring, including a 20% workforce reduction and integration of Exscientia, to reduce expenses and enhance platform capabilities.

• Maintained a strong cash position, supporting a projected runway through Q4 2027.

Financial highlights

• Ended the quarter with $533.8 million in cash, cash equivalents, and restricted cash as of June 30, 2025.

• Total revenue for Q2 2025 was $19.2 million, up 33% year-over-year, primarily from collaboration agreements.

• Achieved a $7 million milestone payment from Sanofi and received a $28.6 million UK R&D tax credit.

• Operating expenses rose to $195.5 million for the quarter, driven by R&D ($128.6 million) and G&A ($46.7 million), reflecting integration and platform investment.

• Net loss widened to $171.9 million for the quarter, with an accumulated deficit of $1.8 billion.

Outlook and guidance

• Cash runway expected to extend into Q4 2027, with guidance unchanged for partnership inflows and expense management.

• Multiple clinical and preclinical milestones anticipated in 2H25 and 1H26, including data readouts for REC-1245, REC-617, and REC-102.

• Potential for over $100 million in partnership milestones by end of 2026.

• Additional financing may be required in the future to support long-term growth and commercialization.