Recursion (RXRX) Up on Completing REC-994 Study Enrollment
Recursion RXRX announced full patient enrollment in its phase II SYCAMORE study evaluating REC-994 to treat cerebral cavernous malformations (CCM). Shares of the company were up 3.12% on Jun 13, after market hours, on the news.
REC-994 is an orally bioavailable small molecule, designed specifically for the treatment of CCM. The mid-stage study is being conducted at multiple centers, where patients have been randomly assigned to different groups to test the safety and effectiveness of REC-994.
The primary endpoint of the study is to assess the safety and tolerability of the candidate by measuring adverse events.
The secondary endpoint is to determine the effectiveness of REC-994 by considering feedback from both doctors and patients, conducting imaging tests to measure the number, size and changes in CCM lesions, studying the impact of acute stroke and exploring different biomarkers. These comprehensive assessments will provide valuable insights about REC-994’s potential as a treatment for CCM.
CCM is a neurovascular disorder triggered by genetic mutations, either inherited or acquired, impacting the functions of endothelial cells. The disease is marked by weak and thin blood vessel walls that can result in blood leakage into the surrounding brain or spinal cord tissue. This leakage can cause damage to the nearby brain tissue and result in persistent neurological issues. In rare instances, a more severe bleeding episode can lead to a stroke or even death.
Shares of Recursion have risen 28.9% year to date against the industry’s 1.3% decline.
Image Source: Zacks Investment Research
If successfully developed, REC-994 will have a market to address approximately 360,000 patients in Europe and the United States.
REC-994 has been granted the Orphan Drug designation for CCM by the FDA and the European Commission. This designation provides the company with additional market exclusivity and expedited regulatory paths.
Recursion’s other clinical studies include REC-2282 and REC-4881 for the potential treatment of neurofibromatosis and familial adenomatous polyposis, respectively. Both candidates are currently in the mid-stage clinical study.
Recursion Pharmaceuticals, Inc. Price and Consensus
Recursion Pharmaceuticals, Inc. price-consensus-chart | Recursion Pharmaceuticals, Inc. Quote
Zacks Rank and Stocks to Consider
Recursion currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Akero Therapeutics AKRO, ADMA Biologics, Inc. ADMA and Omega Therapeutics OMGA, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Loss per share estimate for Akero Therapeutics has narrowed from $3.46 to $2.80 for 2023 in the past 90 days. Shares of Akero Therapeutics have risen 3.8% year to date.
AKRO’s earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 7.96%.
Loss per share estimate for ADMA Biologics has narrowed from 19 cents to 9 cents for 2023 in the past 90 days. Shares of ADMA Biologics have nosedived 3.1% year to date.
ADMA’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.13%.
Loss per share estimate for Omega Therapeutics has narrowed from $2.51 to $2.05 for 2023 in the past 90 days. Shares of the company have risen 41.8% year to date.
OMGA’s earnings beat estimates in two of the trailing four quarters, met the mark in one and missed in another, delivering an average surprise of 8.24%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ADMA Biologics Inc (ADMA) : Free Stock Analysis Report
Akero Therapeutics, Inc. (AKRO) : Free Stock Analysis Report
Recursion Pharmaceuticals, Inc. (RXRX) : Free Stock Analysis Report
Omega Therapeutics, Inc. (OMGA) : Free Stock Analysis Report
