2022 Q4 Form 10-K Financial Statement

#000160183023000010 Filed on February 27, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022 2021
Revenue $13.68M $39.84M $10.18M
YoY Change 439.91% 291.46% 156.89%
Cost Of Revenue $10.84M $48.28M $0.00
YoY Change
Gross Profit $2.836M -$8.432M $10.18M
YoY Change -182.85% 156.89%
Gross Profit Margin 20.74% -21.16% 100.0%
Selling, General & Admin $23.36M $95.65M $66.67M
YoY Change 9.04% 43.47% 146.56%
% of Gross Profit 823.55% 655.05%
Research & Development $40.31M $155.7M $135.3M
YoY Change -12.36% 15.1% 113.63%
% of Gross Profit 1421.4% 1329.05%
Depreciation & Amortization $3.214M $11.76M $8.405M
YoY Change 43.74% 39.87% 113.16%
% of Gross Profit 113.33% 82.58%
Operating Expenses $63.82M $155.7M $193.0M
YoY Change -5.45% -19.31% 117.84%
Operating Profit -$60.98M -$245.7M -$182.8M
YoY Change 34.44% 116.01%
Interest Expense $3.669M $55.00K $2.952M
YoY Change -183550.0% -98.14% 117.06%
% of Operating Profit
Other Income/Expense, Net -$179.0K $6.251M -$3.704M
YoY Change -717.24% -268.76% 54.91%
Pretax Income -$57.49M -$239.5M -$186.5M
YoY Change -11.46% 28.42% 114.32%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$57.49M -$239.5M -$186.5M
YoY Change -11.46% 28.42% 114.33%
Net Earnings / Revenue -420.39% -601.05% -1832.18%
Basic Earnings Per Share -$1.36 -$1.49
Diluted Earnings Per Share -$0.31 -$1.36 -$1.49
COMMON SHARES
Basic Shares Outstanding 175.5M shares 125.3M shares
Diluted Shares Outstanding 175.5M shares 125.3M shares

Balance Sheet

Concept 2022 Q4 2022 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $549.9M $549.9M $516.6M
YoY Change 6.46% 6.46% 97.09%
Cash & Equivalents $549.9M $549.9M $285.1M
Short-Term Investments $0.00 $0.00 $231.4M
Other Short-Term Assets $15.87M $17.15M $9.066M
YoY Change 111.19% 89.16% 25.92%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00 $34.00K
Other Receivables $2.753M $2.753M $9.056M
Total Short-Term Assets $569.8M $569.8M $534.7M
YoY Change 6.56% 6.56% 98.41%
LONG-TERM ASSETS
Property, Plant & Equipment $88.19M $121.4M $64.72M
YoY Change 36.26% 87.64% 148.94%
Goodwill $801.0K
YoY Change 0.0%
Intangibles $1.306M
YoY Change -5.7%
Long-Term Investments
YoY Change
Other Assets $0.00 $7.920M $8.716M
YoY Change -100.0% -9.13% 1145.14%
Total Long-Term Assets $131.5M $131.5M $75.63M
YoY Change 73.85% 73.85% 159.89%
TOTAL ASSETS
Total Short-Term Assets $569.8M $569.8M $534.7M
Total Long-Term Assets $131.5M $131.5M $75.63M
Total Assets $701.3M $701.3M $610.3M
YoY Change 14.9% 14.9% 104.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.586M $4.586M $2.819M
YoY Change 62.68% 62.68% 156.27%
Accrued Expenses $32.90M $38.86M $33.75M
YoY Change 1.77% 15.13% 206.81%
Deferred Revenue $56.73M
YoY Change 467.26%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $97.00K $97.00K $90.00K
YoY Change 7.78% 7.78% -91.82%
Total Short-Term Liabilities $100.3M $100.3M $46.66M
YoY Change 114.89% 114.89% 101.98%
LONG-TERM LIABILITIES
Long-Term Debt $536.0K $536.0K $633.0K
YoY Change -15.32% -15.32% -95.51%
Other Long-Term Liabilities $114.7M $114.7M $20.12M
YoY Change 470.1% 470.1% 4.23%
Total Long-Term Liabilities $115.2M $115.2M $20.75M
YoY Change 455.29% 455.29% -37.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $100.3M $100.3M $46.66M
Total Long-Term Liabilities $115.2M $115.2M $20.75M
Total Liabilities $215.5M $215.5M $67.41M
YoY Change 219.67% 219.67% 19.09%
SHAREHOLDERS EQUITY
Retained Earnings -$639.6M
YoY Change 59.87%
Common Stock $2.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $485.8M $485.8M $542.9M
YoY Change
Total Liabilities & Shareholders Equity $701.3M $701.3M $610.3M
YoY Change 14.9% 14.9% 104.4%

Cashflow Statement

Concept 2022 Q4 2022 2021
OPERATING ACTIVITIES
Net Income -$57.49M -$239.5M -$186.5M
YoY Change -11.46% 28.42% 114.33%
Depreciation, Depletion And Amortization $3.214M $11.76M $8.405M
YoY Change 43.74% 39.87% 113.16%
Cash From Operating Activities -$44.75M -$83.52M -$158.6M
YoY Change -26.83% -47.34% 249.38%
INVESTING ACTIVITIES
Capital Expenditures $7.979M $37.06M $39.80M
YoY Change -278.74% -6.88% 582.52%
Acquisitions $0.00 $0.00
YoY Change -100.0%
Other Investing Activities $0.00 $230.3M -$231.9M
YoY Change -100.0% -199.29% 7870.65%
Cash From Investing Activities -$7.979M $193.2M -$271.7M
YoY Change -84.73% -171.11% 3009.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $143.7M
YoY Change
Debt Paid & Issued, Net $90.00K $12.80M
YoY Change -99.3% 16520.78%
Cash From Financing Activities 147.3M $154.3M $458.5M
YoY Change 3779.24% -66.34% 86.3%
NET CHANGE
Cash From Operating Activities -44.75M -$83.52M -$158.6M
Cash From Investing Activities -7.979M $193.2M -$271.7M
Cash From Financing Activities 147.3M $154.3M $458.5M
Net Change In Cash 94.53M $263.8M $28.18M
YoY Change -186.25% 835.93% -85.32%
FREE CASH FLOW
Cash From Operating Activities -$44.75M -$83.52M -$158.6M
Capital Expenditures $7.979M $37.06M $39.80M
Free Cash Flow -$52.73M -$120.6M -$198.4M
YoY Change -7.0% -39.23% 287.3%

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Description of the Business <div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recursion Pharmaceuticals, Inc. (Recursion, the Company, we or our) was originally formed as a limited liability</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">company on November 4, 2013 under the name Recursion Pharmaceuticals, LLC. In September 2016, the Company converted to a Delaware corporation and changed its name to Recursion Pharmaceuticals, Inc.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recursion is a clinical stage TechBio company decoding biology to industrialize drug discovery. The Recursion Operating System (OS), a platform built across diverse technologies, enables the Company to map and navigate trillions of biological and chemical relationships within the Recursion Data Universe, one of the world’s largest proprietary biological and chemical datasets. The Company integrates physical and digital components as iterative loops of atoms and bits scaling wet lab biology and chemistry data organized into virtuous cycles with computational tools to rapidly translate </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">in silico </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">hypotheses into validated insights and novel chemistry. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As of December 31, 2022, the Company had an accumulated deficit of $639.6 million. The Company expects to incur substantial operating losses in future periods and will require additional capital to advance its drug candidates. The Company does not expect to generate significant revenue until the Company successfully completes significant drug development milestones with its subsidiaries or in collaboration with third parties, which the Company expects will take a number of years. There is no assurance that these milestones will be completed successfully. In order to commercialize its drug candidates, the Company or its partners need to complete clinical development and comply with comprehensive regulatory requirements. The Company is subject to a number of risks and uncertainties similar to those of other companies of the same size within the biotechnology industry, such as the uncertainty of clinical trial outcomes, uncertainty of additional funding and a history of operating losses. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has funded its operations to date primarily through the issuance of convertible preferred stock (see Note 10, “Convertible Preferred Stock” for additional details) and the issuance of Class A common stock (see Note 11, “Common Stock” for additional details). Additionally, we have received payments of $180.0 million from our strategic partnerships (see Note 12, “Collaborative Development Contracts” for additional details). Recursion will likely be required to raise additional capital. As of December 31, 2022, the Company did not have any unconditional outstanding commitments for additional funding. If the Company is unable to access additional funds when needed, it may not be able to continue the development of its products or the Company could be required to delay, scale back or abandon some or all of its development programs and other operations. The Company’s ability to access capital when needed is not assured and, if not achieved on a timely basis, could materially harm its business, financial condition and results of operations. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recursion believes that the Company’s existing cash and cash equivalents will be sufficient to fund the Company’s operating expenses and capital expenditures for at least the next 12 months.</span></div>
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<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP), which requires the Company to make estimates and assumptions that affect reported amounts and related disclosures. Actual results could differ from those amounts. Significant estimates and assumptions include the estimated progress towards the satisfaction of performance obligations to record revenue, accrued research and development expenses and the fair value of stock-based awards issued.</span></div>
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<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents and marketable securities. These financial instruments are primarily held at two U.S. financial institutions that management believes are of high credit quality. Recursion’s primary bank accounts significantly exceed the federally insured limits. </span></div>The Company is dependent on third-party suppliers for certain research and development activities including preclinical and clinical testing. In particular, the Company relies and expects to continue to rely on a small number of these suppliers. These activities could be adversely affected by a significant interruption to Recursion’s third-party suppliers including a delay in the Company’s preclinical and clinical testing and the supply of certain consumable products and compounds.
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129000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
399377000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
404613000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
399377000 usd
CY2022Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2022 rxrx Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-2700000 usd
CY2022 rxrx Lessee Operating Lease Increase Decrease In Operating Lease Liability Due To Lease Modifications
LesseeOperatingLeaseIncreaseDecreaseInOperatingLeaseLiabilityDueToLeaseModifications
-2800000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
7793000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
1070000 usd
CY2022 us-gaap Lease Cost
LeaseCost
8863000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y7M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.073
CY2021 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
6400000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9500000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8438000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8622000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8873000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9131000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
23896000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
68460000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
18088000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
50372000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
3977000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
7053000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7325000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
7513000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
7739000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
26448000 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
60055000 usd
CY2020 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3700000 usd
CY2021 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 usd
CY2022 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1211000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
809000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
402000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
911000 usd
CY2021 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
430000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
481000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
904000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
904000 usd
CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
904000 usd
CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
904000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2115000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
809000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1306000 usd
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1815000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
430000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1385000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
379000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
304000 usd
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
126000 usd
CY2020 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 usd
CY2022 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 usd
CY2020Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1600000 usd
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 usd
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 usd
CY2021Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2022Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2022 us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
0 usd
CY2021 us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
0 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.57
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
121434713 shares
CY2020Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
112088065 shares
CY2020Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
112088065 shares
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
448312000 usd
CY2020Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
450850000 usd
CY2020Q4 us-gaap Temporary Equity Shares Subscribed But Unissued
TemporaryEquitySharesSubscribedButUnissued
115598018 shares
CY2021 us-gaap Dividends Stock
DividendsStock
0 usd
CY2022 us-gaap Dividends Stock
DividendsStock
0 usd
CY2022Q4 rxrx Percent Of Aggregate Purchase Price Paid By The Holder Due If Agreement Is Broken
PercentOfAggregatePurchasePricePaidByTheHolderDueIfAgreementIsBroken
0.010
CY2022Q4 rxrx Registration Rights Agreement Accrued Liability
RegistrationRightsAgreementAccruedLiability
0 usd
CY2021Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.5
CY2021Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.5
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.66
CY2021Q2 rxrx Number Of Classes Of Common Stock Authorized
NumberOfClassesOfCommonStockAuthorized
2 class
CY2022Q4 rxrx Common Stock Conversion Ratio
CommonStockConversionRatio
1
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26872000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13830000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3836000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
19191714 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.78
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
260867000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2483336 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.10
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1494036 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.15
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
4026090 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.11
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
28018000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
16154924 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.10
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
67997000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
8745444 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.66
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M12D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
45401000 usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.50
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
29100000 usd
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.04
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.04
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
3600000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2100000 usd
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1100000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
61225000 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
47138000 usd
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
20707000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
3188000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-684000 usd
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
947000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
471000 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
149000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.037
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
-64884000 usd
CY2021 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
-46603000 usd
CY2020 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
-21654000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.238
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.032
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.033
CY2022 rxrx Effective Income Tax Rate Reconciliation Tax Credit Orphan Drug Percent
EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugPercent
-0.011
CY2021 rxrx Effective Income Tax Rate Reconciliation Tax Credit Orphan Drug Percent
EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugPercent
-0.011
CY2020 rxrx Effective Income Tax Rate Reconciliation Tax Credit Orphan Drug Percent
EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugPercent
-0.010
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.006
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.005
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-0.003
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-0.004
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-0.004
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.002
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.006
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.255
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.253
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
89951000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
76954000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
39095000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
30965000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
16742000 usd
CY2022Q4 rxrx Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
11442000 usd
CY2021Q4 rxrx Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
3622000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
5922000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2231000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1732000 usd
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
969000 usd
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1005000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent
3132000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
433000 usd
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
426000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
178708000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
105913000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
166775000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
102041000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
11933000 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3872000 usd
CY2022Q4 rxrx Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
9416000 usd
CY2021Q4 rxrx Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
0 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1951000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
2089000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
566000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
1783000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
11933000 usd
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3872000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
166800000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
102000000 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
64700000 usd
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
46600000 usd
CY2022Q4 us-gaap Tax Credit Carryforward Valuation Allowance
TaxCreditCarryforwardValuationAllowance
2800000 usd
CY2021Q4 us-gaap Tax Credit Carryforward Valuation Allowance
TaxCreditCarryforwardValuationAllowance
1900000 usd
CY2020Q4 rxrx Number Of Classes Of Common Stock Outstanding
NumberOfClassesOfCommonStockOutstanding
1 class
CY2022 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
-228270000 usd
CY2021 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
-172399000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-87006000 usd
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21781386 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21781386 shares
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.99
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.99
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10966651 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
50148845 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
94438417 shares
CY2022 dei Auditor Firm
AuditorFirmId
42

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