RECURSION PHARMACEUTICALS, INC. (RXRX) Form 424B5 — Oct 15, 2026
Recursion Pharmaceuticals filed a preliminary prospectus supplement for a $200 million underwritten offering of Class A Common Stock off its February 2025 shelf, with Leerink Partners, Goldman Sachs, Morgan Stanley, Evercore ISI and Needham as underwriters. The last reported sale price was $3.74 per share on October 14, 2026, and final pricing terms were not yet set. The offering implies roughly 10% share dilution on 533.2 million shares outstanding, with proceeds earmarked for a registrational REC-4881 study in FAP, REC-1245 dose expansion, platform advancement and runway extension.
Key figures
- Cash Position
- 561000000
- Gross Proceeds
- approximately $200,000,000 before underwriting discounts and expenses
- Offering Price
- Last reported sale price on October 14, 2026 was $3.74 per share (final offering price TBD)
- Shares Offered
- $200,000,000 of Class A Common Stock (dollar amount, share count not yet stated)
- Shares Outstanding
- 533191318
- Lockup period days
- 45
- Atm capacity remaining
- up to $213.3 million
- Fap market opportunity
- roughly $15 billion
- Sanofi option milestone
- $10 million
- Atm net proceeds q3 2026
- approximately $86 million from sale of 23,696,330 shares
- Cash runway post offering
- into 2029
- Sanofi remaining milestones
- more than $300 million
- Rec 1245 addressable patients
- greater than 100,000 in US and EU5
- Net tangible book value per share
- $0.81 as of June 30, 2026
- Sanofi collaboration payments to date
- $144 million
AI analysis
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