|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||16.12 - 16.20|
|52-week range||11.65 - 21.05|
|Beta (5Y monthly)||1.33|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.59 (3.74%)|
|Ex-dividend date||28 Apr 2021|
|1y target est||17.20|
(Bloomberg) -- Recursion Pharmaceuticals Inc., which uses machine learning to hunt for new therapies, raised $436 million in an upsized initial public offering priced at the top of a marketed range.The Salt Lake City-based company sold about 24 million shares on Thursday for $18 each, according to data compiled by Bloomberg. The company, which marketed the shares for $16 to $18, twice earlier Thursday increased the number of shares to be sold.Recursion reached a deal with Bayer AG in September to use AI to find new drugs for lung fibrosis and other fibrotic diseases. The deal included a $30 million upfront payment and $50 million in equity funding by Bayer’s investment arm.An investment arm of Bayer led a $239 million funding round for Recursion in September, according to a statement at the time. The company’s investors include Baillie Gifford and Mubadala, among others.The offering is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. The shares are expected to begin trading Friday on the Nasdaq Global Select Market under the symbol RXRX.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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Cancer victims are asking a federal judge overseeing thousands of Roundup weed killer cancer lawsuits to reject a proposed settlement that would allow the glyphosate-based herbicide to remain on store shelves while shielding Bayer AG (OTCMKTS: BAYRY) from future cancer lawsuits.