RECURSION PHARMACEUTICALS, INC. (RXRX) Form 424B5 — Oct 15, 2026
Recursion Pharmaceuticals priced a $200 million underwritten follow-on, selling 61.54 million Class A shares at $3.25 — a 13% discount to the prior close of $3.74 — for estimated net proceeds of $187.2 million after $12 million in underwriting discounts. The offering dilutes existing holders by roughly 11.5%, with new investors facing $2.21 of immediate per-share dilution against adjusted net tangible book value of $1.04. Proceeds fund a planned registrational trial for REC-4881 in FAP, REC-1245 dose expansion, and extend cash runway into 2029 on top of $561 million in September 30 cash.
Key figures
- Debt Amount
- 0
- Gross Proceeds
- 200005000
- Offering Price
- 3.25
- Shares Offered
- 61540000
- Expected Runway
- into 2029
- Lockup Period Days
- 45
- Net Proceeds Estimate
- 187200000
- Atm Remaining Capacity
- 213300000
- Atm Shares Sold Q3 2026
- 23696330
- Atm Net Proceeds Q3 2026
- 86000000
- Proceeds Before Expenses
- 188004700
- Sanofi Milestone Payment
- 10000000
- Immediate Dilution Per Share
- 2.21
- Sanofi Remaining Milestones
- 300000000
- Sanofi Total Payments To Date
- 144000000
- Underwriting Discount Total
- 12000300
- Underwriting Discount Per Share
- 0.195
- Shares Outstanding Post Offering
- 594731318
- Last Reported Sale Price Oct14 2026
- 3.74
- Adjusted Net Tangible Book Value Per Share
- 1.04
- Historical Net Tangible Book Value Per Share
- 0.81
- Shares Outstanding Pre Offering Jun30 2026
- 533191318
- Rec1245 Disease Control Rate45 65mg Percent
- 91.7
- Cash Cash Equivalents Restricted Cash Sep30 2026
- 561000000
- Rec4881 Median Polyp Burden Reduction Week13 Percent
- 47
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