3 Key Trends That Are Bullish for Recursion Pharmaceuticals Stock

As a biotech that's leaning heavily on artificial intelligence (AI) in every aspect of its business, Recursion Pharmaceuticals (NASDAQ: RXRX) is hooked into a handful of big trends that will likely define the future of its industry.There isn't any guarantee that the company will be a good investment on the force or direction of those trends alone. But there are three which are especially bullish for the stock thanks to how it's positioned, so let's take a look at each one and see what it could mean for Recursion and its shareholders.Among the top 20 biopharmaceutical companies, the average research and development (R&D) cost to advance a new drug program all the way from the discovery stage through regulatory review and commercialization was $2.2 billion in 2023, according to the analysts at Deloitte. Between 2022 and 2023, total R&D spending by that same group rose by 4.5%, reaching $145.5 billion. There isn't any indication of this trend slowing down, and many companies are spending more on R&D expenses as a percentage of their revenue than they were 10 years ago.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool