New York, May 19, 2026, 2:04 PM EDT
Recursion Pharmaceuticals shares slipped Tuesday afternoon, hitting a new 52-week low. The AI drug-discovery company says it has clinical momentum and cash to last until 2028, but the stock remains under pressure.
Shares were off around 2.2% at $2.825, after dipping to $2.77 earlier. Volume was above 10 million. Recursion’s market cap was near $1.49 billion. According to Investing.com, the stock touched a 52-week low of $2.79 earlier Tuesday and has dropped about 36% in the past year.
Investors are again questioning the difference between Recursion’s promise and its results. The company says it uses artificial intelligence trained on lots of biological and chemical data to speed up drug discovery, but the market wants to know when that will deliver data that can move the stock.
Biotech pressure wasn’t limited to Recursion. The SPDR S&P Biotech ETF slipped a bit. AbCellera, in drug discovery using AI, dropped around 2.6%. Schrödinger shares were flat.
Recursion posted first-quarter revenue of $6.47 million, falling from $14.75 million in the same period last year. Net loss slimmed to $117.5 million, or 22 cents a share, compared to $202.5 million, or 50 cents a share, last year.
Recursion posted a narrower per-share loss than the 26-cent estimate, but revenue fell short of the $16.28 million forecast, according to Investing.com. That mix left room for both bulls and skeptics to argue their case.
Recursion finished March with $665.2 million in cash, cash equivalents and restricted cash. That’s down from $753.9 million at the end of last year. The company said it still sees its cash runway stretching into early 2028, which is how long Recursion thinks it can fund the business before it may need to raise more funds.
Recursion CEO Najat Khan said the company is seeing “strong momentum and execution” across its portfolio. Khan cited early safety and drug-exposure results for REC-1245, along with the first patient treated in REC-4539, as proof the platform is getting more programs into the clinic. Recursion Pharmaceuticals, Inc.
Clinical data could drive the stock’s next move. Recursion reported that its early REC-1245 study in 16 solid-tumor patients turned up no dose-limiting toxicities, which are side effects serious enough to halt higher dosing. The company also said it saw predictable, dose-dependent drug exposure in its pharmacokinetic results.
REC-4881 is in the pipeline for familial adenomatous polyposis, a genetic disorder tied to higher colorectal cancer risk. Recursion said its Phase 2 results showed median reductions in polyp burden of 43% by Week 13 and 53% by Week 25. The company has opened talks with the U.S. Food and Drug Administration about starting a registrational trial, meaning one that could support a future approval.
Needham’s Gil Blum is sticking with his Buy on Recursion after the May update, Benzinga said. The analyst kept the target at $8 and called the REC-4881 trial-design update the “next value driver.” Blum also pointed out there’s no regulatory precedent in FAP. Benzinga
Risk is clear here. In its 10-Q, Recursion said it hasn’t brought any products to market yet and doesn’t expect any revenue from product sales for years. The company also said losses will likely keep going for the foreseeable future.
Shares hit a 52-week low as investors watch for more than just quick progress. The risk is clear: If REC-4881 sees slower FDA alignment, if REC-1245 updates disappoint, or if cash burn signals heavier dilution, the stock could keep lagging. The platform is interesting, but the market is focused on clinical results.
REC-4881 regulatory news and more REC-1245 Phase 1 dose-escalation data are expected in the second half of 2026. For now, Recursion is trading like a biotech name with an AI angle and the standard dilemma — the key data are still months away.
