Here's Why Shares in Recursion Pharmaceuticals Surged Today

Shares in biotech company Recursion Pharmaceuticals (RXRX 11.46%) surged by more than 12% by 11 a.m. ET today. The move is due to a de-risking event in its drug discovery pipeline.Taking full ownership of an important drugThe de-risking event relates to the acquisition of the 50% interest in an ENPP1 inhibitor program (REV102) that it didn't own from Rallybio (RLYB 39.57%). REV102 is being developed to treat hypophosphatasia (HPP) -- a rare and debilitating genetic disorder that affects bone development.Acc ...