Recursion Pharmaceuticals reported second quarter 2026 revenue of $7.7 million, missing analyst estimates, while its EPS loss of $0.25 was in line with expectations. The company highlighted a key partnership development with Genentech and improved its full-year outlook for cash operating expenses, extending its expected cash runway into early 2028.
Key Highlights
- Genentech exercised its first option to advance a neuroscience target discovered via Recursion's AI platform into an early discovery program, providing a key validation milestone.
- Full-year 2026 cash operating expense guidance was lowered by $15 million to less than $375 million, citing improved operating efficiencies.
- Research and Development expenses were $89.6 million, a decrease from $128.6 million in the prior-year period, though higher than analyst expectations.
- The company ended the quarter with $556.8 million in cash and equivalents, with management reaffirming its cash runway extends into early 2028.