Recursion Pharma gains on completing Nvidia-backed supercomputer BioHive-2

Recursion Pharmaceuticals

13/05/2024 16:21

(Updates with market open prices)
    ** Shares of drug developer Recursion Pharmaceuticals
 RXRX.O  rise as much as 20% in early trading, last up 16% at
$10 
    ** RXRX announces completion of Nvidia-powered  NVDA.O 
supercomputer BioHive-2, which the company says is the largest
supercomputer in pharmaceutical industry
    ** BioHive-2 is four times faster than RXRX's original
supercomputer BioHive-1 in benchmark performance tests 
    ** RXRX uses AI to discover new drug candidates
    ** Cathie Wood-led ARK Invest bought 526,148 RXRX shares on
Friday
    ** Stock has gained 1.3% YTD, compared with tech-heavy
Nasdaq's  .IXIC  9% rise

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com))