REC-4881 - (TUPELO)

October 15, 2026: Recursion (NASDAQ: RXRX) announced a $200 million underwritten stock offering and pipeline/business updates.

REC-4881 (MEK1/2 inhibitor), Phase 1b/2 TUPELO in familial adenomatous polyposis (FAP): In the expanded adult population (data cutoff Sept. 10, 2026), 87% had reduced total GI polyp burden after 12 weeks, with a 47% median reduction; one-third achieved at least 65% reduction, and 85% remained below baseline after 12 weeks off treatment. In the upper GI tract, 92% had reductions, median reduction was 55%, nearly half achieved at least 65% reduction, two patients had at least 98% reduction, 6/12 improved at least one Spigelman stage at Week 13, and 92% remained below baseline at Week 25. No treatment-related AEs above Grade 3 were reported. Recursion is targeting registrational trial initiation in 2H 2027 pending FDA discussions; additional data will be presented at the CGA-IGC Annual Meeting on November 2.

REC-1245 (RBM39 degrader), Phase 1/2 DAHLIA: Early monotherapy data (cutoff Aug. 21, 2026) showed 3 partial responses by RECIST 1.1 (2 confirmed in endometrial cancer, 1 unconfirmed in hepatocellular carcinoma) and 91.7% disease control at doses at or above 45 mg (11/12). Recursion selected 45 mg QD for expansion; additional monotherapy data are expected in 2H 2026 and preliminary endometrial expansion data in 2H 2027.

Partnership: Sanofi optioned the first development candidate from the companies’ collaboration, triggering a $10 million milestone; the oral small-molecule inflammatory disease candidate is expected to enter Phase 1 in 2027 under Sanofi-led development. Recursion said cash runway extends into 2029.