These 10 Stocks Are Making Big Moves

7. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Recursion Pharmaceuticals bounced back by 8.72 percent on Tuesday to close at $5.36 apiece following news that it acquired a $25-million interest in REV102—an ENPP1 inhibitor in preclinical development for the treatment of hypophosphatasia.

In a statement on Tuesday, Rallybio said it entered into a definitive agreement with Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) for the sale of its interest, under which it will be eligible to receive $7.5 million in upfront equity, a contingent equity payment of $12.5 million upon the initiation of additional preclinical studies, and a $5 million milestone payment in connection with the initiation of dosing in a Phase 1 clinical study.

It will also be eligible to receive low single-digit royalties on all future net sales by Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) and likewise earn payments in the event of the latter’s sale of the REV102 program.

“By combining Rallybio’s expertise in HPP preclinical and translational research with Recursion’s integrated AI/experimental platform, we transformed this concept into the first potential oral disease-modifying treatment for HPP,” said Rallybio CEO Stephen Uden.