We believe that Recursion (NASDAQ: RXRX), a TechBio company that decodes biology and chemistry to industrialize drug discovery, is likely to beat expectations when it reports second-quarter 2024 results.
The Zacks Consensus Estimate is pegged at a loss of 35 cents per share. The Zacks Consensus Estimate for second-quarter revenues is pinned at $14.1 million.
Let’s see how things might have shaped up for the upcoming quarterly release.
Factors to Consider
In the absence of a marketed product in the company’s commercial portfolio, Recursion only recognizes collaboration revenues from its partners.
Recursion has ongoing collaboration agreements with pharma giants like Roche and Bayer to develop candidates for several oncology indications, with differentiated mechanisms of action. RXRX also collaborated with NVIDIA Corporation, the worldwide leader in visual computing technologies, to build a next-generation platform for the company to develop novel therapies.
The company is expected to provide updates regarding the clinical-stage pipeline programs on its second-quarter earnings call. RXRX expects several data readouts throughout 2024 and 2025.
Recursion’s oncology candidate, REC-994, is being evaluated in the mid-stage SYCAMORE study to treat cerebral cavernous malformation. It completed patient enrollment for the study last year and expects to share top-line data from the same in September 2024.
RXRX’s other pipeline candidates include REC-2282 and REC-4881 for treating neurofibromatosis type II (NF2) and familial adenomatous polyposis (FAP), respectively. Two doses of REC-2282 are being evaluated in Part 1 of the mid to late-stage POPLAR study for the …