🔴 Recursion Pharmaceuticals is trading 12.5% down today after $200 million discounted share offering

Recursion Pharmaceuticals is trading at $3.64, down 12.50%, as its discounted share offering raises dilution concerns.

• The $200 million offering comprises 61.54 million new shares priced at $3.25 each, below the prior close.
• The offering is expected to close October 16, subject to customary conditions. Positive clinical and Sanofi partnership updates accompanied the financing.
• Broader biotech weakness may add pressure, with XBI down 2.06% during the regular session.