RXRX News

Major advancements in artificial intelligence (AI) have attracted billions of dollars in new investment, and the IPO market has taken notice. The percentage of US IPOs referencing AI in their prospectuses has climbed in each of the past six years, and leapt to 54% in the year-to-date period. These references range from explanations of how a company uses AI, its plans to adopt the...read more

The IPO market revved back to life with nine IPOs raising $5.4 billion, joined by crypto exchange Coinbase’s direct listing. SPAC activity continued to decline, with just two raising $700 million. Pipeline activity held steady, with 10 IPOs, six SPACs, and one direct listing submitting initial filings. The first major direct listing on the Nasdaq, ...read more

Recursion Pharmaceuticals, a Phase 2-ready biotech using AI to develop therapies for rare diseases, raised $436 million by offering 24.2 million shares at $18, the high end of the range of $16 to $18. The company offered 2.2 million shares than anticipated. It had previously planned to offer 18 million shares before increasing the offering to 22 million on Thursday. Existing...read more

Recursion Pharmaceuticals, a Phase 2-ready biotech using AI to develop therapies for rare diseases, raised the proposed deal size for its upcoming IPO on Thursday. The Salt Lake City, UT-based company now plans to raise $374 million by offering 22 million shares at a price range of $16 to $18. The company had previously filed to offer 18 million shares at the same...read more