RECURSION PHARMACEUTICALS, INC.
RXRX · Biological Products, (No Diagnostic Substances) · 168.3M shares · +76%/yr ↑ dilution · EDGAR filings ↗
Reference price $3.18 · est. market cap ~$535M — last insider sale, 2026-06-18 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D47Cash-rich AI-drug-discovery platform with marquee partners but extreme cash burn, deeply negative margins, and an unproven clinical record.
Strengths
- Largest cash balance in the batch ($743M, 88.1 pct) and >$500M of cumulative partner payments (Roche/Genentech/Sanofi)
- Early platform proof points including a positive FAP polyp-burden readout
Risks
- Severe burn and thin economics: FCF -$378M (6.5 pct), operating margin -868%, gross margin 5% (17 pct), runway ~7.9 quarters
- Lead clinical evidence weak — REC-3964 CDI Phase 2 terminated at ~1 patient/arm; platform-to-drug translation still unproven
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -863.4%)
- Cash burnNegative free cash flow (-378.3M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +76%/yr over 4y (dilution, book value/share -78%)
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- Insider sellingInsider selling — 22 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$5M, last 6mo) Form 4 ↗
- Revenue declineRevenue -81.8% YoY
- Notable holderHeld by 6 notable fund(s): ARK Investment Management LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +3 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
5.0%
Operating margin
-867.9%
Net margin
-863.4%
Return on equity
-57.0%
Return on assets
-43.7%
Revenue growth (QoQ)
-81.8%
Current ratio
5.5×
Free cash flow
-$378M
EBITDA
-$564M
Tangible book value
$659M
Cash & investments
$743M
Cash runway
8q
Stock comp / revenue
148.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-18 | Bumpus Namandje | Sell | 4.0K | $3.18 |
| 2026-06-17 | Michor Franziska | Grant | 88K | — |
| 2026-06-17 | Borgeson Blake | Grant | 88K | — |
| 2026-06-17 | Sun Elaine D | Grant | 88K | — |
| 2026-06-17 | Dar Zavain | Grant | 88K | — |
| 2026-06-17 | Li Dean Y | Grant | 88K | — |
| 2026-06-17 | Bumpus Namandje | Grant | 88K | — |
| 2026-06-17 | HERSHBERG ROBERT | Grant | 88K | — |
| 2026-06-15 | Taylor Ben R | Tax withheld | 5.4K | $3.15 |
| 2026-06-05 | Gibson Christopher | Conversion | 40K | — |
| 2026-06-05 | Khan Najat | Sell | 24K | $3.58 |
| 2026-06-05 | Gibson Christopher | Sell | 40K | $3.62 |
| 2026-06-03 | Bumpus Namandje | Sell | 4.4K | $3.54 |
| 2026-06-02 | Borgeson Blake | Sell | 30K | $3.68 |
| 2026-05-22 | Gibson Christopher | Conversion | 40K | — |
| 2026-05-22 | Gibson Christopher | Sell | 40K | $3.08 |
| 2026-05-15 | Khan Najat | Tax withheld | 63K | $3.04 |
| 2026-05-15 | Hallett David | Tax withheld | 27K | $3.04 |
| 2026-05-15 | Gibson Christopher | Tax withheld | 23K | $3.04 |
| 2026-05-15 | Taylor Ben R | Tax withheld | 25K | $3.04 |
| 2026-05-07 | Gibson Christopher | Sell | 40K | $3.37 |
| 2026-05-07 | Gibson Christopher | Conversion | 60K | — |
| 2026-05-07 | Gibson Christopher | Gift | 20K | — |
| 2026-05-05 | Borgeson Blake | Sell | 30K | $3.52 |
| 2026-04-22 | Gibson Christopher | Conversion | 40K | — |
| 2026-04-22 | Gibson Christopher | Sell | 40K | $3.61 |
| 2026-04-07 | Gibson Christopher | Sell | 40K | $3.10 |
| 2026-04-07 | Gibson Christopher | Conversion | 40K | — |
| 2026-04-07 | Borgeson Blake | Sell | 30K | $3.10 |
| 2026-04-06 | Taylor Ben R | Tax withheld | 48K | $3.11 |
| 2026-04-01 | Dar Zavain | Grant | 4.9K | — |
| 2026-04-01 | Li Dean Y | Grant | 3.3K | — |
| 2026-03-23 | Gibson Christopher | Sell | 40K | $3.25 |
| 2026-03-23 | Gibson Christopher | Conversion | 40K | — |
| 2026-03-17 | Taylor Ben R | Sell | 8.0K | $3.39 |
| 2026-03-16 | Taylor Ben R | Tax withheld | 7.1K | $3.42 |
| 2026-03-09 | Gibson Christopher | Gift | 20K | — |
| 2026-03-09 | Khan Najat | Sell | 28K | $3.35 |
| 2026-03-09 | Gibson Christopher | Conversion | 20K | — |
| 2026-03-03 | Borgeson Blake | Sell | 170K | $3.46 |
| 2026-02-19 | Gibson Christopher | Sell | 40K | $3.46 |
| 2026-02-19 | Gibson Christopher | Conversion | 40K | — |
| 2026-02-18 | Taylor Ben R | Sell | 13K | $3.08 |
| 2026-02-17 | Hallett David | Tax withheld | 12K | $3.49 |
| 2026-02-17 | Gibson Christopher | Tax withheld | 27K | $3.49 |
| 2026-02-17 | Taylor Ben R | Tax withheld | 12K | $3.49 |
| 2026-02-17 | Khan Najat | Tax withheld | 14K | $3.49 |
| 2026-02-06 | Khan Najat | Grant | 1.7M | — |
| 2026-02-06 | Khan Najat | Grant | 30K | — |
| 2026-02-06 | Khan Najat | Tax withheld | 10K | $3.98 |
| 2026-02-06 | Taylor Ben R | Grant | 446K | — |
| 2026-02-06 | Taylor Ben R | Grant | 24K | — |
| 2026-02-06 | Taylor Ben R | Tax withheld | 11K | $3.98 |
| 2026-02-06 | Hallett David | Grant | 502K | — |
| 2026-02-06 | Hallett David | Grant | 24K | — |
| 2026-02-06 | Hallett David | Tax withheld | 11K | $3.98 |
| 2026-02-06 | Gibson Christopher | Grant | 30K | — |
| 2026-02-06 | Gibson Christopher | Tax withheld | 10K | $3.56 |
| 2026-02-04 | Gibson Christopher | Conversion | 40K | — |
| 2026-02-04 | Gibson Christopher | Sell | 40K | $4.12 |
| 2026-02-03 | Borgeson Blake | Sell | 220K | $4.20 |
| 2026-01-20 | Gibson Christopher | Sell | 40K | $4.47 |
| 2026-01-20 | Gibson Christopher | Conversion | 40K | — |
| 2026-01-06 | Borgeson Blake | Sell | 220K | $4.36 |
| 2026-01-05 | Gibson Christopher | Conversion | 60K | — |
| 2026-01-05 | Gibson Christopher | Sell | 40K | $4.25 |
| 2026-01-05 | Gibson Christopher | Gift | 20K | — |
| 2026-01-02 | Dar Zavain | Grant | 3.6K | — |
| 2026-01-02 | Li Dean Y | Grant | 2.4K | — |
| 2025-12-29 | Taylor Ben R | Sell | 21K | $4.18 |
| 2025-12-22 | Khan Najat | Sell | 124K | $4.41 |
| 2025-12-19 | Gibson Christopher | Conversion | 40K | — |
| 2025-12-19 | Gibson Christopher | Sell | 40K | $4.50 |
| 2025-12-15 | Taylor Ben R | Tax withheld | 7.1K | $4.33 |
| 2025-12-04 | Gibson Christopher | Conversion | 60K | — |
| 2025-12-04 | Gibson Christopher | Sell | 40K | $4.63 |
| 2025-12-04 | Gibson Christopher | Gift | 20K | — |
| 2025-12-02 | Borgeson Blake | Sell | 220K | $4.37 |
| 2025-11-25 | Taylor Ben R | Tax withheld | 2.3K | $4.03 |
| 2025-11-19 | Gibson Christopher | Conversion | 40K | — |
| 2025-11-19 | Gibson Christopher | Sell | 40K | $4.16 |
| 2025-11-17 | Gibson Christopher | Tax withheld | 40K | $4.14 |
| 2025-11-17 | Khan Najat | Tax withheld | 18K | $4.14 |
| 2025-11-17 | Taylor Ben R | Tax withheld | 12K | $4.14 |
| 2025-11-05 | Khan Najat | Grant | 85K | — |
| 2025-11-04 | Gibson Christopher | Sell | 40K | $5.21 |
| 2025-11-04 | Gibson Christopher | Conversion | 60K | — |
| 2025-11-04 | Gibson Christopher | Gift | 20K | — |
| 2025-10-23 | Gibson Christopher | Conversion | 100K | — |
| 2025-10-23 | Gibson Christopher | Sell | 100K | $5.70 |
| 2025-10-10 | Gibson Christopher | Sell | 100K | $6.04 |
| 2025-10-10 | Gibson Christopher | Conversion | 120K | — |
| 2025-10-10 | Gibson Christopher | Gift | 20K | — |
| 2025-10-01 | Dar Zavain | Grant | 2.9K | — |
| 2025-10-01 | Li Dean Y | Grant | 2.0K | — |
| 2025-09-25 | Gibson Christopher | Conversion | 100K | — |
| 2025-09-25 | Gibson Christopher | Sell | 100K | $4.76 |
| 2025-09-15 | Taylor Ben R | Tax withheld | 7.1K | $4.83 |
| 2025-09-10 | Gibson Christopher | Gift | 20K | — |
| 2025-09-10 | Gibson Christopher | Conversion | 120K | — |
| 2025-09-10 | Gibson Christopher | Sell | 100K | $4.71 |
| 2025-08-26 | Gibson Christopher | Conversion | 100K | — |
| 2025-08-26 | Gibson Christopher | Sell | 100K | $4.84 |
| 2025-08-18 | Khan Najat | Sell | 37K | $5.52 |
| 2025-08-15 | Taylor Ben R | Tax withheld | 12K | $5.64 |
| 2025-08-15 | Gibson Christopher | Tax withheld | 40K | $5.64 |
| 2025-08-15 | Khan Najat | Tax withheld | 3.8K | $5.64 |
| 2025-08-11 | Gibson Christopher | Sell | 18K | $5.28 |
| 2025-08-11 | Gibson Christopher | Sell | 500K | $5.28 |
| 2025-08-11 | Gibson Christopher | Conversion | 424K | — |
| 2025-08-11 | Gibson Christopher | Gift | 10K | — |
| 2025-08-11 | Gibson Christopher | Conversion | 100K | — |
| 2025-08-11 | Gibson Christopher | Sell | 100K | $5.28 |
| 2025-08-11 | Gibson Christopher | Conversion | 18K | — |
| 2025-07-01 | Li Dean Y | Grant | 1.9K | — |
| 2025-07-01 | Dar Zavain | Grant | 2.9K | — |
| 2025-06-18 | Sun Elaine D | Grant | 11K | — |
| 2025-06-18 | Borgeson Blake | Grant | 22K | — |
| 2025-06-18 | Michor Franziska | Grant | 22K | — |
| 2025-06-18 | HERSHBERG ROBERT | Grant | 22K | — |
| 2025-06-18 | Dar Zavain | Grant | 22K | — |
| 2025-06-18 | Bumpus Namandje | Grant | 11K | — |
| 2025-06-18 | Li Dean Y | Grant | 22K | — |
| 2025-06-16 | Taylor Ben R | Tax withheld | 7.1K | $4.92 |
| 2025-05-15 | Khan Najat | Tax withheld | 3.8K | $4.25 |
| 2025-05-15 | Taylor Ben R | Tax withheld | 12K | $4.25 |
| 2025-05-15 | Gibson Christopher | Tax withheld | 36K | $4.25 |
| 2025-04-01 | Taylor Ben R | Tax withheld | 27K | $5.09 |
| 2025-04-01 | Li Dean Y | Grant | 2.3K | — |
| 2025-04-01 | Dar Zavain | Grant | 2.7K | — |
| 2025-03-27 | Gibson Christopher | Sell | 139K | $6.04 |
| 2025-03-17 | Bumpus Namandje | Grant | 37K | — |
| 2025-03-17 | Taylor Ben R | Tax withheld | 7.1K | $6.84 |
| 2025-03-17 | Sun Elaine D | Grant | 37K | — |
| 2025-03-06 | Gibson Christopher | Conversion | 20K | — |
| 2025-03-06 | Gibson Christopher | Sell | 20K | $6.37 |
| 2025-03-05 | Gibson Christopher | Conversion | 20K | — |
| 2025-03-05 | Gibson Christopher | Sell | 20K | $6.58 |
| 2025-02-18 | Gibson Christopher | Tax withheld | 17K | $10.64 |
| 2025-02-18 | Taylor Ben R | Tax withheld | 11K | $10.64 |
| 2025-02-06 | Gibson Christopher | Conversion | 20K | — |
| 2025-02-06 | Gibson Christopher | Sell | 20K | $8.12 |
| 2025-02-05 | Gibson Christopher | Sell | 20K | $7.68 |
| 2025-02-05 | Gibson Christopher | Conversion | 20K | — |
| 2025-02-03 | Taylor Ben R | Grant | 35K | — |
| 2025-02-03 | Taylor Ben R | Grant | 14K | — |
| 2025-02-03 | Taylor Ben R | Tax withheld | 6.5K | $7.25 |
| 2025-02-03 | Khan Najat | Grant | 210K | — |
| 2025-02-03 | Khan Najat | Grant | 8.0K | — |
| 2025-02-03 | Khan Najat | Tax withheld | 2.8K | $7.25 |
| 2025-02-03 | Gibson Christopher | Grant | 525K | — |
| 2025-02-03 | Gibson Christopher | Grant | 17K | — |
| 2025-02-03 | Gibson Christopher | Tax withheld | 5.6K | $7.25 |
| 2025-01-10 | Gibson Christopher | Sell | 20K | $7.05 |
| 2025-01-10 | Gibson Christopher | Conversion | 20K | — |
| 2025-01-08 | Gibson Christopher | Conversion | 20K | — |
| 2025-01-08 | Gibson Christopher | Sell | 20K | $7.31 |
| 2025-01-02 | Borgeson Blake | Grant | 1.7K | — |
| 2025-01-02 | Dar Zavain | Grant | 1.9K | — |
| 2025-01-02 | Li Dean Y | Grant | 1.6K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07517198 ↗ | Dose Determining Study of EXS74539 (REC-4539) in Participants With Select Solid Tumors Solid Tumor, Small Cell Lung Cancer (SCLC) | PHASE1 | Recruiting | 2029-03-01 |
| NCT06678659 ↗ | A Study of REC-1245 in Participants With Unresectable, Locally Advanced, or Metastatic Cancer Unresectable, Locally Advanced | PHASE1/PHASE2 | Recruiting | 2028-10-30 |
| NCT06980116 ↗ | Dose Determining Study of EXS73565 in Participants With Relapsed or Refractory B-Cell Malignancies Relapsed or Refractory B-cell Malignancies, Chronic Lymphocytic Leukemia/Small Lymphocytic Lymphoma (CLL/SLL) | PHASE1 | Recruiting | 2028-06-01 |
| NCT05985655 ↗ | Study to Assess GTAEXS617 in Participants With Advanced Solid Tumors Head and Neck Squamous Cell Carcinoma (HNSCC), Pancreatic Adenocarcinoma | PHASE1/PHASE2 | Recruiting | 2028-01-01 |
| NCT05552755 ↗ | Evaluate REC-4881 in Participants With Familial Adenomatous Polyposis (FAP) Familial Adenomatous Polyposis | PHASE1/PHASE2 | Recruiting | 2027-06-01 |
| NCT05130866 ↗ | Efficacy and Safety of REC-2282 in Patients With Progressive Neurofibromatosis Type 2 (NF2) Mutated Meningiomas Neurofibromatosis Type 2 | PHASE2/PHASE3 | Terminated | 2025-08-18 |
| NCT05085561 ↗ | The Symptomatic Cerebral Cavernous Malformation Trial of REC-994 Cerebral Cavernous Malformation | PHASE2 | Completed | 2025-06-30 |
| NCT06536465 ↗ | The Clostridioides Difficile Trial of REC-3964 Recurrent Clostridioides Difficile Infection | PHASE2 | Terminated | 2025-05-06 |
| NCT06005974 ↗ | A Study of REC-4881 in Participants With Cancers Which Have an AXIN1 or APC Mutation AXIN1 Gene Mutation, APC Gene Mutation | PHASE2 | Terminated | 2025-02-24 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-18 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsReg FDExhibits | filing ↗ |
| 2026-04-30 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-03-25 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-02-25 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-12 | Reg FDExhibits | filing ↗ |
| 2025-12-08 | OtherExhibits | filing ↗ |
| 2025-11-26 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-18 | 2026-06-17 | 0001601830-26-000080 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001601830-26-000077 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001601830-26-000078 ↗ |
| 8-K | 2026-04-30 | 2026-04-28 | 0001601830-26-000064 ↗ |
| 8-K | 2026-03-25 | 2026-03-25 | 0001601830-26-000054 ↗ |
| 10-K | 2026-02-25 | 2025-12-31 | 0001601830-26-000039 ↗ |
| 8-K | 2026-02-25 | 2026-02-25 | 0001601830-26-000038 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001601830-26-000002 ↗ |
| 8-K | 2025-12-08 | 2025-12-08 | 0001601830-25-000174 ↗ |
| 8-K | 2025-11-26 | 2025-11-26 | 0001601830-25-000172 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001601830-25-000166 ↗ |
| 8-K | 2025-11-05 | 2025-11-04 | 0001601830-25-000164 ↗ |