Why Recursion Pharmaceuticals Was Bouncing Higher on Tuesday
In an effort to save costs and make its financial resources last longer, Recursion Pharmaceuticals (NASDAQ: RXRX) is slimming down and streamlining. After the biotech updated its strategy to do so on Tuesday, investors became more hopeful on its future, bidding the stock up; it closed 1.6% higher at the end of the day. This rise outpaced that of the S&P 500 (SNPINDEX: ^GSPC), which increased by 0.55%.
Before market open, Recursion disclosed in a tersely worded regulatory filing with the Securities and Exchange Commission (SEC) that it was taking a series of measures to streamline its operations.
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Source Fool.com
