Recursion Prices $200 Million Stock Offering, Sanofi Options Drug Candidate

MT Newswires Live10-15

Recursion Pharmaceuticals (RXRX) said Thursday it priced an offering of 61.5 million shares at $3.25 each to raise gross proceeds of about $200 million. The offering is expected to close on Friday.

Separately, Recursion said Sanofi has optioned the first drug candidate from the companies' research collaboration, triggering a $10 million milestone payment.

Recursion said total upfront and milestone payments under the collaboration have reached $144 million and that it is eligible for more than $300 million of additional milestones and double-digit royalties on net sales, if approved.

The drug candidate, aimed at inflammatory disease, is now in Sanofi's pipeline and is expected to enter phase 1 clinical trials in 2027, Recursion said.

Recursion shares were 1.5% higher in Thursday trading, while Sanofi was up 1.6%.

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