Recursion Pharmaceuticals Inc ( RXRX ) shares are trading lower Tuesday, pulling back after gaining more than 16% over the past week. Here’s a look at what’s going on.

What To Know: Recursion on Tuesday held a webinar to discuss results from the Phase 1/2 study of REC-617, a selective CDK7 inhibitor, in advanced solid tumors. The results were presented at an AACR Special Conference in Cancer Research after the market close on Monday.

The company said REC-617 demonstrated dose-linear pharmacokinetics with rapid absorption and robust pharmacodynamic (PD) biomarker modulation. Recursion also confirmed partial response observed during monotherapy dose-escalation in a patient with platinum-resistant ovarian cancer. An additional four patients demonstrated a best response of stable disease for up to six months of treatment.

“Cell cycle dysregulation and transcriptional ‘addiction’ are both hallmarks of many aggressive cancers,” said David Hallett, chief scientific officer of Recursion Pharmaceuticals ( RXRX ).

“By inhibiting CDK7, we have the potential to target both mechanisms while fine tuning the therapeutic index. Using our precision design platform, we created a molecule with rapid oral absorption to reduce GI tissue exposure, a suitable half life to manage side effects, and target engagement covering the IC80 level.”

Recursion said it plans to continue monotherapy dose escalation and initiate combination studies in the first half of 2025. The company expects to present additional REC-617 data at future medical meetings.

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Recursion shares traded higher last week after the company announced that the first patient was dosed in its Phase 1/2 clinical trial of REC-1245, a new chemical entity for the treatment of biomarker-enriched solid tumors and lymphoma.

REC-1245 is an alternative target for modulating DNA damage response pathways, and was developed with Recursion’s AI-enabled drug discovery platform.

It’s worth noting that Nvidia reported investments in multiple companies, including Recursion, in a 13-F filing with the SEC earlier this year. According to the company’s most recent filing on Nov. 14, Recursion is Nvidia's third-largest investment after Arm Holdings and Applied Digital.

RXRX Price Action: Recursion Pharmaceuticals ( RXRX ) shares are up 16.64% over the past week. The stock was down 1.95% at $8.10 at the time of publication Tuesday, per Benzinga Pro.