Recursion disclosed a leadership change and financial update as it reported mixed third‑quarter results. Co‑founder Chris Gibson will step down as CEO and become chairman; Najat Khan, PhD, the company’s chief research & development and chief commercial officer, will assume the CEO role. The company posted a Q3 net loss of $162.3 million, up 69% year‑over‑year, driven by higher R&D and business costs. Recursion also reported a pro forma cash balance of about $785 million after an at‑the‑market financing, extending runway into late 2027. Management framed the transition as positioning the company for a new operational chapter focused on delivering pipeline milestones and partnerships.