RXRX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Recursion is a clinical-stage TechBio company with a mission to decode biology to radically improve lives. We have advanced a portfolio of differentiated internal programs and strategic partnerships powered by our integrated drug discovery and development platform, the Recursion Operating System (OS…

• generation, AI-powered small molecule synthesis, and AI-enabled clinical development. All of our technologies are designed to translate complex science into medicines that matter — faster, better, and at scale — for patients who are waiting.

• Preliminary safety and pharmacokinetic (PK) data from REC-1245, a potential first-in-class RBM39 degrader discovered and developed using Recursion’s platform, highlight early clinical progress for a novel approach to targeting cancer vulnerabilities linked to replication stress and DNA repair.

• REC-1245 advanced from biological discovery to development candidate in 18 months, more than twice as fast as the industry average, demonstrating Recursion’s ability to identify novel targets and design differentiated molecules using its integrated AI-enabled platform.

• •REC-1245 was well-tolerated across select solid tumors (n=16)

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• Recursion is a leading clinical stage TechBio company decoding biology to radically improve lives. We aim to achieve our mission by industrializing drug discovery using the Recursion Operating System (OS), a vertical platform of diverse technologies that enables us to map and navigate trillions of b…

• There are a few key factors that differentiate Recursion from other technology-enabled drug discovery companies.

• •Recursion has built a full-stack platform utilizing many biology, chemistry and patient-centric proprietary datasets and modular tools to industrialize drug discovery, while most other competitor companies rely on a point solution to solve one important step in drug discovery. We recognize that dru…

• •Recursion integrates wet-lab and dry-lab capabilities in-house to create a virtuous cycle of iteration. Fit-for-purpose wet-lab experimental data are translated by dry-lab digital tools into in silico hypotheses and testable predictions, which in turn generates more wet-lab data from which improved…

• •Recursion has achieved a significant scale with respect to its scientific, technological and business endeavors. With 6 high potential clinical and pre-clinical programs across oncology and rare disease indications, four of the largest discovery partnerships in the biopharma industry with Roche and…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• The following remediation actions have been taken as of March 31, 2026 related to the material weaknesses for the acquired Exscientia business:

• •We have designed and implemented certain information technology general controls and are in the process of implementing additional information technology general controls within the Exscientia business, including controls over the maintenance of appropriate segregation of duties, controls over chan…

• •We have designed and implemented certain processes and controls to appropriately analyze, record and disclose accounting matters timely and accurately while maintaining appropriate segregation of duties and are in the process of implementing others.

• •We completed an implementation of a new enterprise resource planning ("ERP") system and a Purchase to Pay (P2P) system. In the process of deploying these new systems, we designed and implemented new, or otherwise enhanced existing, internal control activities to complement operational and administr…

• In connection with the remediation actions described above, we are in the process of integrating Exscientia’s operations into our overall system of internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• The following remediation actions have been taken as of September 30, 2025 related to the material weakness for estimated costs and time to completion and controls to validate the completeness and accuracy of data used to calculate revenue and unearned revenue related to our license agreement:

• •Improvement of documentation procedures regarding specific inquiries related to the cost model used for revenue recognition and the resulting responses

• •Improvement of documentation for the review of changes in cost model due to responses from inquiries

• •Provision of additional documentation for internal reports to validate and support completeness and accuracy of reports

• •Improvements in the documentation of these processes were executed with the input of our third-party consultants who continue to be involved in the design and enhancement of the revenue recognition policies and procedures

Text added vs the prior filing · source: 10-Q · 2026-05-06

• On March 3, 2026, Namandjé Bumpus, a member of our Board of Directors, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the potential sale of up to 12,735 shares of the Company’s Class A common stock until June 2, 2027.

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• On August 31, 2025, Blake Borgeson, a member of our Board of Directors, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the potential sale of up to 3,868,000 shares of the Company’s Class A common stock, a majority of which will not…

• On September 22, 2025, Najat Khan, Chief R&D Officer, Chief Commercial Officer, and a member of our Board of Directors, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 299,317 shares of the Company’s Class A common…

• On September 30, 2025, Ben Taylor, Chief Financial Officer and President of Recursion UK, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 293,321 shares of the Company’s Class A common stock until December 29, 2026…