Dennis Cho and Mani Foroohar's questions to Recursion Pharmaceuticals Inc (RXRX) leadership • Q2 2025
Question
Dennis from Jefferies and Mani from Leerink asked for clarification on the company's cash runway guidance, specifically how Recursion calculates its runway through Q4 2027.
Answer
CFO and President Ben Taylor emphasized focusing on the cash flow statement, as operating expenses include non-cash items. He stated the guidance for cash-based operating expense and CapEx ($390M in 2026) does not include any partner inflows or new financing. Taylor explained that multiple scenarios, even just considering existing partnerships and efficient operations, provide confidence in reaching the Q4 2027 runway.