Recursion Pharmaceuticals: Q1 Earnings Snapshot
SALT LAKE CITY — SALT LAKE CITY — Recursion Pharmaceuticals Inc. (RXRX) on Monday reported a loss of $202.5 million in its first quarter.
On a per-share basis, the Salt Lake City-based company said it had a loss of 50 cents.
The biotechnology company posted revenue of $14.7 million in the period.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
16 hours ago
- Forbes
Gavin Newsom And Jay Pritzker Offering Red States The Deal Of Lifetime
Government spending saps economic growth, which is no insight. It's stated routinely in my upcoming book The Deficit Delusion that the centralized and politicized allocation of goods, services and labor in sub-optimal fashion by politicians lays a wet blanket on economic growth. What makes the economically enervating nature of government spending worth mentioning is the ongoing debate about state and local taxes, also known as SALT. Governors in high-tax blue states would like to return to the old state of tax play whereby state and local taxes paid could be 100 percent deducted against federal tax bills. Red state citizens should take this gift from people with names like Newsom and Pritzker and run with it. Except that red state politicians are largely balking. So are their citizens. They see unlimited deductibility of state and local taxes as a subsidy of blue state taxpayers, and an incentive for blue states to tax and spend with abandon at a cost to federal tax collections. Their critiques speak to the undeniable good of an unlimited SALT deduction, for red states. To suggest otherwise is to imply that blue states benefit economically from excessive spending, all at the expense of the federal government's ability to spend. Actually, that's a feature of SALT, not a bug. Once again, government spending is economically harmful. The goal for red state politicians should be to localize the certain damage of government spending to the extent they can. Let California, New York, Illinois and New Jersey pursue a lot in the way of economy and freedom-sapping government so that the federal government has fewer dollars to harm the U.S. economy with. It's certainly odd, but not surprising, that blue state governors would clamor for an enhanced ability to further damage their economies with excessive spending born of high taxes. Much odder is that red states aren't taking the blue states up on an arrangement that to some degree erects a fence around economic foolishness. Red state politicians and their citizens yet again claim the SALT deduction subsidizes high-tax and high-spend blue states. More realistically, it subsidizes the red states that want neither. No doubt blue states see excessive taxing and spending in state as advantageous, and it should be obvious to red staters why: the discredited economic vision of John Maynard Keynes lives on most harmfully in blue states. Their politicians almost to a man and woman buy into the Keynesian notion that government spending grows an economy. Quite the opposite. With full deduction of state and local taxes, what an opportunity for red states to show why Keynes was wrong. Within them there's an underlying understanding that a government that does least does best. Which is yet again why red state politicians and voters should eagerly take the deal being offered from their taxing and spending opposites. The deal implies that blue states will foist more Keynes on their people, the red states quite a bit less. What a deal! Unknown is why red state politicians won't accept such a gift unless, of course, they're more wedded to discredited notions of government waste than their limited government rhetoric suggests.
Yahoo
16 hours ago
- Yahoo
Why Recursion Pharmaceuticals (RXRX) Soared On Friday
We recently published a list of . In this article, we are going to take a look at where Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) stands against other Friday's best-performing stocks. Recursion Pharmaceuticals grew its share prices by 20.13 percent on Friday to close at $5.49 apiece following the unveiling of Boltz-2, touted as the next-generation AI model to predict binding affinity. According to Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX), the new model is powered by its NVIDIA supercomputer for its training and validation, and represents the next step beyond existing biomolecular structure prediction models like AlphaFold3 and its predecessor, Boltz-1. A pharmacist in a hospital pharmacy stands next to a row of various drug containers. 'Selecting the right molecules early is one of the most fundamental challenges in drug discovery, with implications for whether R&D programs succeed or fail,' said Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) Chief Commercial Officer Najat Khan. 'By predicting both molecular structure and binding affinity simultaneously with unprecedented speed and scale, Boltz-2 gives R&D teams a powerful tool to triage more effectively and focus resources on the most promising compounds. Collaborations like this, bridging academic innovation and industry application, play an important role in advancing the field and, ultimately, improving how we develop and deliver medicines for patients,' she added. Overall, RXRX ranks 2nd on our list of Friday's best-performing stocks. While we acknowledge the potential of RXRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
18 hours ago
- Yahoo
Why Recursion Pharmaceuticals (RXRX) Soared On Friday
We recently published a list of . In this article, we are going to take a look at where Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) stands against other Friday's best-performing stocks. Recursion Pharmaceuticals grew its share prices by 20.13 percent on Friday to close at $5.49 apiece following the unveiling of Boltz-2, touted as the next-generation AI model to predict binding affinity. According to Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX), the new model is powered by its NVIDIA supercomputer for its training and validation, and represents the next step beyond existing biomolecular structure prediction models like AlphaFold3 and its predecessor, Boltz-1. A pharmacist in a hospital pharmacy stands next to a row of various drug containers. 'Selecting the right molecules early is one of the most fundamental challenges in drug discovery, with implications for whether R&D programs succeed or fail,' said Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) Chief Commercial Officer Najat Khan. 'By predicting both molecular structure and binding affinity simultaneously with unprecedented speed and scale, Boltz-2 gives R&D teams a powerful tool to triage more effectively and focus resources on the most promising compounds. Collaborations like this, bridging academic innovation and industry application, play an important role in advancing the field and, ultimately, improving how we develop and deliver medicines for patients,' she added. Overall, RXRX ranks 2nd on our list of Friday's best-performing stocks. While we acknowledge the potential of RXRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
