Recursion Pharmaceuticals Jumps in Debut After $436 Million IPO

Recursion Pharmaceuticals Inc., which uses machine learning to hunt for new therapies, rose 74% in its trading debut after exceeding goals for its initial public offering to raise $436 million.

Salt Lake City-based Recursion’s shares closed Friday at $31.30, giving Recursion a market value of more than $5 billion. It sold about 24 million shares on Thursday for $18 each, after earlier marketing them for $16 to $18 and twice expanding the size of the share sale.

Source url: bloomberg.com