Why Recursion Pharmaceuticals Was Bouncing Higher on Tuesday

In an effort to save costs and make its financial resources last longer, Recursion Pharmaceuticals (RXRX 1.49%) is slimming down and streamlining. After the biotech updated its strategy to do so on Tuesday, investors became more hopeful on its future, bidding the stock up; it closed 1.6% higher at the end of the day. This rise outpaced that of the S&P 500 (^GSPC 0.55%), which increased by 0.55%. Job cuts coming, cash runway extendedBefore market open, Recursion disclosed in a tersely worded regulatory filin ...