Recursion Pharmaceuticals, Inc. - Class A Common Stock (RXRX)
7.6500
+0.1600 (2.14%)
Recursion Pharmaceuticals Inc is a biotechnology company focused on leveraging advanced computational biology and machine learning techniques to transform drug discovery and development
By utilizing a proprietary platform that integrates high-throughput biology and data science, the company aims to identify new therapeutic targets and accelerate the process of discovering novel medicines for a variety of diseases. Their innovative approach seeks to uncover hidden connections in biological data, enabling them to explore previously uncharted areas in the pharmaceutical landscape and bring forth breakthrough treatments for patients in need.
AI is transforming drug development, allowing companies to identify new drug targets, optimize clinical trials and speed delivery of medicines to patients.
The AI chipmaker’s $50 million investment in Recursion, unveiled in 2023 to support AI-driven drug discovery, has been a key driver of investor interest.
Exscientia is a European player looking to make a difference in the AI-drug discovery market. Like other players, it has an interesting story to tell. After a brief listing on the stock market, Exscientia was acquired by another firm last year.
Among the various use-cases for AI, healthcare has been one of the interesting ones. Recursion Pharmaceuticals (RXRX) is one such notable player in the industry that has successfully leveraged AI in drug discovery.
On Friday, Cathie Wood-led Ark Invest made significant trades involving PLTR, ARKB, and QSI. The PLTR trade sold shares worth $1.6 million, aligning with Ark's trend of reducing their position in the hot AI stock.
Recursion on Tuesday held a webinar to discuss results from the Phase 1/2 study of REC-617, a selective CDK7 inhibitor, in advanced solid tumors. The results were presented at an AACR Special Conference in Cancer Research after the market close on Monday.
