Here's Why Shares in Recursion Pharmaceuticals Surged Today

Shares in biotech company Recursion Pharmaceuticals (NASDAQ: RXRX) surged by more than 12% by 11 a.m. ET today. The move is due to a de-risking event in its drug discovery pipeline.The de-risking event relates to the acquisition of the 50% interest in an ENPP1 inhibitor program (REV102) that it didn't own from Rallybio (NASDAQ: RLYB). REV102 is being developed to treat hypophosphatasia (HPP) -- a rare and debilitating genetic disorder that affects bone development.According to Recursion, "HPP is a devastating genetic disorder affecting over 7,800 diagnosed patients across the U.S. and major European countries." It targets an enzyme, ENPP1, whose inhibition is believed to help treat HPP.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool