What's Going On With Recursion Pharmaceuticals Stock?

ecursion Pharmaceuticals, Inc. RXRX shares are trading higher Tuesday and the stock is up more than 80% over past month. The stock is among today’s biggest movers.

What To Know:

Recursion Pharmaceuticals unveiled LOWE (Large Language Model-Orchestrated Workflow Engine), its new software designed to perform complex drug discovery tasks using a natural language interface, at the J.P. Morgan Healthcare Conference on Tuesday.

“Recursion has spent the last 10 years building one of the world’s largest biological and chemical datasets, along with automated wet-lab and dry-lab tools that empower our scientists to move quickly to decode biology to discover and rapidly advance promising programs,” said Chris Gibson, CEO of Recursion.

“For the first time, we’ve taught large language models to use many of Recursion’s tools and data in the same way an expert scientist would, but much more simply and in a more scalable way. LOWE provides an exciting glimpse into what we believe the future of drug discovery will look like – a first step towards the development of autonomous ‘AI scientists’ for therapeutic discovery.”

Last week Recursion announced it had signed an agreement with Bayer AG to in-license a new chemical entity that emerged from the companies’ fibrosis research collaboration. The compound represents a novel approach to treating fibrotic diseases with early data suggesting the potential to reverse disease-related fibrotic processes.

Also in early January, the ARK Innovation ETF ARKK, led by Cathie Wood, purchased shares of Recursion pharmaceuticals.

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RXRX Price Action: According to Benzinga Pro, Recursion Pharmaceuticals shares are up 8.6% at $13.72 at the time of publication.