Why Recursion Pharmaceuticals Stock Is Plummeting Today
Shares of Recursion Pharmaceuticals (NASDAQ: RXRX) are tumbling on Tuesday. The stock lost 10.3% as of 2:50 p.m. ET and was down by as much as 11.8% earlier in the day. The move comes as the S&P 500 and Nasdaq Composite both slipped by 0.6%.The data from an April survey revealed Tuesday showed that the biotech industry is fearful that President Donald Trump's federal research cuts will make raising capital more challenging. This comes just a day after Recursion revealed its disappointing first-quarter earnings and announced it would pare down its development pipeline.Continue reading
Shares of Recursion Pharmaceuticals (NASDAQ: RXRX) are tumbling on Tuesday. The stock lost 10.3% as of 2:50 p.m. ET and was down by as much as 11.8% earlier in the day. The move comes as the S&P 500 and Nasdaq Composite both slipped by 0.6%.
The data from an April survey revealed Tuesday showed that the biotech industry is fearful that President Donald Trump's federal research cuts will make raising capital more challenging. This comes just a day after Recursion revealed its disappointing first-quarter earnings and announced it would pare down its development pipeline.
