Recursion falls after delay for GM2 gangliosidosis trial

• The shares of the clinical-stage biotechnology company Recursion Pharmaceuticals (RXRX -10.2%) are set to close at an all-time low on Thursday after the company announced a delay for its Phase 2 trial for REC-3599 in rare genetic disorder, infantile GM2 gangliosidosis (GM).
• Recursion's leadership has decided that a dose optimization study in sheep of Tay-Sachs disease will be in the best interests of patients before the enrollment of the trial can begin.
• The decision will delay the start of the mid-stage trial by approximately two years, the company said. Previously, Recursion (NASDAQ:RXRX) said it would begin the trial in the first half of 2022.
• Meanwhile, citing challenges posed by the Omicron variant in opening clinical sites, the company said that the enrollment of the first patient in its Phase 2 study for REC-4881 in Familial Adenomatous Polyposis is likely in either Q2 or Q3 2022. In November, the management said that the trial would begin in H1 2022.