07:49 AM EDT, 06/10/2025 (MT Newswires) -- Recursion Pharmaceuticals ( RXRX ) said Tuesday it will reduce its workforce by about 20% as part of an operational streamlining plan.

The company expects to incur approximately $11 million in severance-related charges, mostly within 2025, it said.

Recursion said it projects its cash runway will extend into Q4 2027 and forecast 2025 and 2026 cash usage below $450 million and $390 million, respectively.

It may receive over $100 million in milestone payments from partners by end-2026, the company said.

Cash and equivalents are expected to remain above $500 million as of June 30, down from $509 million in Q1, supported by tax credits, partnerships, and ATM offerings, Recursion said.

Shares of the company were up over 1.1% in recent Tuesday premarket activity.