🟢 Recursion Pharmaceuticals is trading 11% up today amid a 2.50% XBI gain

Recursion Pharmaceuticals is trading 10.51% higher at $4.37, alongside biotech-sector strength; the XBI is up 2.50%.

• Positive sentiment also surrounds biotech IPOs and industry deal activity.
• Eli Lilly-backed TRex Bio and Retension Pharmaceuticals launched IPOs on October 9; TRex Bio raised $116.7 million.
• No new company-specific catalyst for the October 9 move surfaced. The Tempus partnership extension was announced in September and is prior context.