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An Introduction

According to research from Grand View Research, the AI-powered drug discovery process is expected to grow by a compound annual growth rate of 30% between now and 2030 and, 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 munKNEE AI-focused Drug Discovery Stocks Portfolio

The 6 AI-focused clinical-stage drug discovery currently trading on North American stock exchanges are tracked in the munKNEE AI-focused Drug Discovery Stocks Portfolio. Their stock performances last week are highlighted below, in descending order, and MTD, along with a description of their areas of focus, their market capitalizations, their product pipeline and the latest news, analyses and commentary on each, where pertinent:

1. Recursion Pharmaceuticals (RXRX): UP 15.9% last week; DOWN 4.8% MTD
   • Area of Focus: decodes biology by integrating technological innovations to industrialize drug discovery (see details here)
   • Market Capitalization: $2,190M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • The Bull Thesis for Recursion Pharmaceuticals Stock Just Got Stronger. Here's Why
2. Exscientia (EXAI): UP 12.8% last week; UP 13.4% MTD
   • Area of Focus: designs and develops differentiated medicines for diseases with high unmet patient needs (see details here)
   • Market Capitalization: $776M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • Exscientia Business Update for Second Quarter and First Half 2024
3. Absci Corporation (ABSI): UP 12.0% last week; UP 2.0% MTD
   • Area of Focus: analyzes drug characteristics that may provide therapeutic benefit. (see details here)
   • Market Capitalization: $510M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • Absci Reports Business Updates and Second Quarter 2024 Financial and Operating Results
4. Relay Therapeutics (RLAY): UP 11.6% last week; DOWN 12.4% MTD
   • Area of Focus: uses its platform to enhance small molecule therapeutic discovery in targeted oncology and genetic disease indications (see details here)
   • Market Capitalization: $964M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • Relay Therapeutics Reports Second Quarter 2024 Financial Results
5. Schrödinger (SDGR): UP 0.7% last week; DOWN 10.8% MTD
   • 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: $1,450M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • Schrödinger Second Quarter 2024 Earnings
6. AbCellera Biologics (ABCL): No Change last week; DOWN 19.9% MTD
   • Area of Focus: searches for antibodies from natural immune responses which are then outsourced to their partners. (see details here)
   • Market Capitalization: $769M
   • Pipeline: (see here)
   • Latest News, Analyses and Commentary:
     • 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 $1.1B in market capitalization) went UP 6.6% last week but remain DOWN 10.3% MTD vs. +16.1% during the full month of July.

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