Key Highlights

  • Quarterly Revenue reached $18.6 million, against $5.2 million in the prior-year period.
  • The net loss contracted 27%, landing at $119.0 million, equal to $0.22 a share, down from $162.3 million, which equaled $0.36.
  • Research and development costs dropped 18% to $99.1 million.
  • Cash and equivalents closed September at $549.9 million, compared with $743.3 million at the end of 2025.
  • A $10 million milestone payment followed Sanofi's option exercise on an immunology molecule.

Revenue Climbs With a Sanofi Payment to $18.6 Million Total

Recursion Pharmaceuticals (NASDAQ:RXRX) submitted a quarterly filing dated Nov 2, 2026, which covers the three months that finished Sep 30, 2026. Management attributed most of the increase to a Sanofi milestone of $10.0 million, linked to the partnership. Total revenue reached $18.6 million, against $5.2 million twelve months prior, roughly 3.6 times the earlier-year level (calculated).

Recursion operates as a clinical-stage company that pairs artificial intelligence and automation with biological datasets to find and advance medicines. Its revenue comes from collaborations with major drugmakers, while it pushes forward in-house programs in cancer and rare conditions. Sanofi also exercised an option on an immunology molecule from the tie-up, slated for Phase 1 studies in 2027.

Net Loss Contracts 27% as Discovery Spending Falls 75%

The company lost $119.0 million during the quarter, which amounted to $0.22 per share, after a $162.3 million deficit, equal to $0.36 a share, in the same period of 2025.

Operating Deficit contracted 28%, reaching $123.2 million, while overall operating expenses dropped 20% to $141.7 million. Research and Development costs, which had been $121.1 million, shrank to $99.1 million, with the decrease led by a three-quarter drop in in-house and partner-linked discovery work, which fell to $8.7 million. G&A outlay came down 22%, to $32.6 million, while revenue-related cost decreased 32%, to $10.0 million.

Across the nine-month period, the deficit reached $367.5 million, which equaled $0.69 a share, against $536.6 million, equal to $1.27 a share.

REC-4881 Polyp Reductions and REC-1245 Partial Responses Define the Focus

Fresh TUPELO findings from the Phase 1b 2 trial covered REC-4881 in people with familial adenomatous polyposis, reported on Nov 2. After 12 weeks, 13 of 15 adult patients, or 87%, showed reduced total polyp burden, and the median reduction was 47%. Median decreases reached 55% in the upper gastrointestinal section and 50% in the lower section, with no fresh safety signals reported.

A registrational study is anticipated to begin during the latter half of 2027, subject to FDA talks. In the REC-1245 Phase 1 dose-escalation program, three partial responses appeared among endometrial and liver cancer patients receiving 45 mg daily or more, and the disease control rate reached 91.7%. Expansion results for endometrial cancer are slated for the second half of 2027.

Recursion is concentrating resources on REC-4881 and REC-1245 along with three other proprietary programs, and it aims to bring in outside collaborators for two other assets.

Cash Cushion of $549.9 Million and Planned 2027 Milestones Shape What Comes Next

Liquid holdings at period close totaled $549.9 million, and Leadership believes that balance covers operations for a minimum of 12 months after the filing date. The document also notes that further Capital will be required down the road. The next signposts are registrational trial specifics for REC-4881 and the expansion results for REC-1245 due in 2027.