CORPORATE FINANCIAL REPORTS 5-30-21

The following are recent financial reports as posted by selected Utah corporations: 

Recursion 

Recursion Pharmaceuticals Inc., based in Salt Lake City, reported a net loss of $30.7 million, or $1.33 per share, for the first quarter ended March 31. That compares with a loss of $18.4 million, or 85 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $2.6 million, up from $60,000 in the year-earlier quarter.

Recursion is a clinical-stage biotechnology company decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering, with the goal of improving the lives of patients and industrializing drug discovery.

“We are thrilled to have led Recursion through a successful IPO process which garnered support from new and existing healthcare and technology investors and better capitalized the company’s mission of decoding biology to radically improve lives,” Chris Gibson, co-founder and CEO, said in announcing the results.

Clene

Clene Inc. and subsidiary Clene Nanomedicine Inc., based in Salt Lake City, reported a net loss of $39.8 million, or 66 cents per share, for the first quarter ended March 31. That compares with a loss of $3.9 million, or 23 cents per share, for the same quarter a year earlier.

Revenue in the most recent quarter totaled $213,000, up from $70,000 in the year-earlier quarter.

Clene is a clinical-stage biopharmaceutical company dedicated to revolutionizing the treatment of neurodegenerative disease using bioenergetic nanocatalysis.

“Clene is off to a strong start in 2021, having made great progress across its programs,” Rob Etherington, president and CEO, said in announcing the results.

Owlet

Owlet Baby Care Inc., based in Lehi, reported a net loss of $7.9 million, or 73 cents per share, for the first quarter ended March 31. That compares with a loss of $2.1 million, or 20 cents per share, for the same quarter a year earlier.

Revenues in the most recent quarter were a company-record $21.9 million, up from $14.9 million in the year-earlier quarter.

Owlet offers a nursery ecosystem that delivers data-driven technology for modern parenting.

“The first quarter of 2021 exceeded our internal growth expectations, as we achieved both record revenue and gross margins,” Kurt Workman, CEO and co-founder, said in announcing the results.

“Adoption of our connected nursery technology among consumers continues to expand. Along these lines, we’ve continued to bolster our team to support our strong growth with key executive hires and board appointments that are integral to our compelling pipeline of innovative products and services.”