Recursion appoints Najat Khan as CEO effective Jan 1, 2026; Q3 net loss $162.3M

RECURSION PHARMACEUTICALS, INC.

Najat Khan succeeds Chris Gibson as CEO and President effective Jan 1, 2026; Gibson becomes Chairman.
Khan's base salary set at $680K; receives $1M equity now and expected additional $7.5M equity.
Q3 revenue $5.2M (down from $26.1M); net loss $162.3M (vs $95.8M); R&D spend $121.1M.
Cash ~$785M as of Oct 9, 2025; runway through end-2027; raised $387.5M from ATM facility.
Second microglia phenomap accepted by Roche/Genentech triggers $30M milestone; total partner payments exceed $500M.

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