Recursion Pharmaceuticals Cuts Workforce by 20% to Extend Cash Runway
Recursion Pharmaceuticals, a Utah-based biotech company, announced a significant reduction in its workforce as part of a strategic initiative to streamline operations and extend its financial runway. The company, which specializes in AI-driven drug discovery, disclosed the layoffs in an SEC filing on Tuesday, revealing plans to cut approximately 20% of its staff, affecting around 160 employees.