Financing ·
Prices $200M equity offering at $3.25 per share and Sanofi options candidate triggering $10M milestone
RXRXRecursion Pharmaceuticals, Inc.
Recursion Pharmaceuticals priced a $200 million follow-on underwritten offering of 61,540,000 shares of Class A common stock at $3.25 per share, with closing expected on October 16, 2026. Concurrently, the company announced that Sanofi has optioned a potential first-in-class oral small molecule development candidate from their multi-program research collaboration. The option triggered a $10 million milestone payment to Recursion, bringing total upfront and milestone payments under the collaboration to $144 million to date. Recursion remains eligible for more than $300 million in additional milestones and low double-digit royalties if the program is commercialized. The company also reported preliminary cash and cash equivalents of approximately $561 million as of September 30, 2026, and expects its cash runway to extend into 2029 following the offering. Recursion Pharmaceuticals operates in the biotechnology sector, pioneering AI-enabled drug discovery and development.