Why Recursion Pharmaceuticals Stock Tanked on Tuesday
Before market open on Tuesday, Recursion Pharmaceuticals (NASDAQ: RXRX) published its latest set of quarterly earnings and business update. It might have wished it hadn't, as those quarterly numbers clearly didn't impress the market. The company's stock ended up closing the day almost 5% lower in price, a steeper fall than the 0.5% dip of the benchmark S&P 500 index.
For its second quarter, Recursion earned $19.2 million in revenue, which was up from the slightly more than $14.4 million in the same period of 2024. However, the clinical-stage biotech company's generally accepted accounting principles (GAAP) net loss deepened considerably, coming in at almost $172 million ($0.41) against the $97.5 million deficit in the year-ago period.
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Source Fool.com
