secwatch.observer — SEC 8-K summary
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Issuer:     RECURSION PHARMACEUTICALS, INC. (RXRX)
CIK:        0001601830
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001601830-24-000051
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 4.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Recursion posts Q1 net loss $91.4M; replaces EY with PwC after material weakness
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- Net loss of $91.4M, up from $65.3M YoY; revenue $13.8M, up from $12.1M.
- Cash $296.3M; operating cash burn $102.3M; annual bonuses and accrual payments drove increase.
- Auditor change: EY dismissed, PwC appointed; material weakness in revenue estimation control identified for FY2023.
- Phase 2 readouts expected: CCM (REC-994) Q3 2024, NF2 (REC-2282) Q4 2024, FAP (REC-4881) H1 2025.
- Multi-year Helix agreement to access de-identified genomic and health records for AI model training.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601830/000160183024000051/0001601830-24-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601830/000160183024000051/rxrx-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001601830-24-000051

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer