By Adriano Marchese
Recursion Pharmaceuticals plans to slash one-fifth of its workforce as it looks to streamline its operations.
The clinical-stage biopharmaceutical company said Tuesday it will reduce its workforce by about 20% as part of its efforts to streamline operating strategy and post-integration employee transitions.
Recursion said it expects to pay about $11 million in charges such as severance payments, employee benefits and other related costs this year.
Based on its revised expense profile and business plan after laying off its staff, Recursion said it now expects its projected cash runway to extend into the fourth quarter of 2027.
The Salt Lake City-based company also projects that its cash burn, excluding partnership inflows or one-time severance costs, to be less than $450 million in 2025 and less than $390 million in 2026, and noted that it could receive over $100 million in cash inflows from progress-based milestone payments from partners by the end of 2026.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 10, 2025 06:47 ET (10:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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