By CMC Markets
Publication Date: 2026-03-26 00:00:00
Recursion Pharmaceuticals (RXRX), based in Salt Lake City, Utah, is a clinical-stage biotechnology company. It was founded in 2013 with the aim of industrializing drug discovery using automation, high-throughput biology and machine learning and positioned itself early in the TechBio category. The company grew from academic roots at the University of Utah and attracted venture capitalists and strategic pharmaceutical partnerships including Genzyme, the rare disease division of Sanofi (SNY), and later Bayer (BAYRY).
The company was listed on Nasdaq in April 2021; A $12 billion collaboration with Roche (RHHBY) followed.
Since then, developments have been volatile but narratively driven: Nvidia’s (NVDA) $50 million investment and positioning in artificial intelligence (AI) led to strong rallies, while clinical uncertainty and persistent losses weighed on sentiment.
RXRX’s stock price has plummeted in the years since its IPO – as of March 25, it is 82% below its initial opening price and more than 22% year to date.
