Recursion posts Q3 net loss $93M, inks $160M Tempus data deal, restructures Bayer collaboration for oncology

RECURSION PHARMACEUTICALS, INC.

Q3 net loss of $93.0M vs $60.4M prior year; revenue $10.5M down from $13.2M.
Tempus 5-year data licensing deal: annual payments $22M-$42M (up to $160M total) for 20+ PB oncology data.
Bayer collaboration refocused on oncology; up to 7 programs with aggregate milestones up to $1.5B plus royalties.
BioHive-1 supercomputer to quadruple compute with NVIDIA H100 GPUs, expected top 50 globally by H1 2024.
Cash $387.3M at Sept 30; pipeline on track with Phase 2 CCM and NF2 data expected H2 2024.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RECURSION PHARMACEUTICALS, INC. reported financial results for the third quarter ending September 30, 2023.

Period: the third quarter ending September 30, 2023
Result: reported results

Exact text from the filing

On November 9, 2023, the Company issued a press release announcing its results of operations and financial condition for the third quarter September 30, 2023.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

RECURSION PHARMACEUTICALS, INC. amended Restated Bayer Agreement with Bayer AG valued at Amendment and restatement of the Original Research Collaboration and Option Agreement to re-align wi (effective 2023-11-08).

Action: amendment
Agreement: collaboration
Counterparty: Bayer AG
Value: Amendment and restatement of the Original Research Collaboration and Option Agreement to re-align wi
Effective: 2023-11-08

Exact text from the filing

On November 8, 2023, the parties amended and restated the Original Bayer Agreement (the “Restated Agreement”) to re-align the Original Agreement with Bayer’s strategic shift in focus to oncology, as further described below.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

RECURSION PHARMACEUTICALS, INC. entered into Tempus Master Agreement with Tempus Labs, Inc. valued at Initial license fee of $22.0 million; annual fees ranging from $22.0 million to $42.0 million; total (effective 2023-11-03).

Action: entry
Counterparty: Tempus Labs, Inc.
Value: Initial license fee of $22.0 million; annual fees ranging from $22.0 million to $42.0 million; total
Effective: 2023-11-03

Exact text from the filing

On November 3, 2023, Recursion Pharmaceuticals, Inc. (the “Company”) and Tempus Labs, Inc. (“Tempus”) entered into a Master Agreement (the “Tempus Agreement”) pursuant to which Tempus may provide certain services and deliverables to Company and/or license certain data to Company.

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18 earnings releases filed in the last 30 days. Browse all earnings releases →

RECURSION PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001601830-23-000068

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