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An Introduction

The AI-powered drug discovery process is expected to grow by a compound annual growth rate of 30% between now and 2030 and that, according to Morgan Stanley, should result in as many as 50 novel therapies being brought to market by then and generate annual sales in excess of $50B.

The AI-focused Drug Discovery Stocks Portfolio

The 6 AI-focused clinical-stage drug discovery currently trading on North American stock exchanges are tracked in our AI-focused Drug Discovery Stocks Portfolio. Their stock performances for the month of August are highlighted below, in descending order, along with a description of their areas of focus, their market capitalizations, their product pipeline, their latest news, analyses and commentary on each, where pertinent and an update as to how the constituents performed during the market meltdown yesterday.

1. Exscientia (EXAI): UP 5.1% in August
   • Area of Focus: designs and develops differentiated medicines for diseases with high unmet patient needs (see details here)
   • Market Capitalization: $635M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • Exscientia Business Update for Second Quarter and First Half 2024
2. Absci Corporation (ABSI): No Change in August
   • Area of Focus: analyzes drug characteristics that may provide therapeutic benefit. (see details here)
   • Market Capitalization: $453M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • Absci Corporation Is A Penny Stock That Will Make You a Millionaire
     • Absci Corporation Reports Q2 Loss, Lags Revenue Estimates
3. Schrödinger (SDGR): DOWN 5.6% in August
   • Area of Focus: uses its platform to discover novel molecules which it leverages to build a pipeline of its own clinical programs in addition to selling access to its platform to other pharmaceutical firms (see details here)
   • Market Capitalization: $1,500M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • Schrödinger Among The Best Medical AI Companies
4. Recursion Pharmaceuticals (RXRX): DOWN 11.2% in August
   • Area of Focus: decodes biology by integrating technological innovations to industrialize drug discovery (see details here)
   • Market Capitalization: $1,710M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • The Bull Thesis for Recursion Pharmaceuticals Stock Just Got Stronger. Here’s Why
5. Relay Therapeutics (RLAY): DOWN 17.4% in August
   • Area of Focus: uses its platform to enhance small molecule therapeutic discovery in targeted oncology and genetic disease indications (see details here)
   • Market Capitalization: $866M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • Relay Therapeutics Reports Second Quarter 2024 Financial Results
6. AbCellera Biologics (ABCL): DOWN 21.5% in August
   • Area of Focus: searches for antibodies from natural immune responses which are then outsourced to their partners. (see details here)
   • Market Capitalization: $737M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • AbCellera Biologics Is A Top Contender Among Canada’s Best Penny Stocks in 2024
     • The Consensus Just Cut Its AbCellera Biologics Estimates For 2024

Summary

On average, the 6 constituents in our AI-focused Drug Discovery Stocks Portfolio (averaging $984M in market capitalization) went DOWN 7.8% in August vs. going UP 16.1% during July.

An Update

Tech stocks plummeted yesterday (Tuesday) after the ISM manufacturing index reported August figures below consensus expectations and that  raised fears about the strength of the economy and that drove down our AI-focused Drug Discovery Stocks Portfolio by 6.6% on the day.

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