SDGR Schrodinger Inc.

61.45
+0.21  (+0%)
Previous Close 61.24
Open 61.19
52 Week Low 46.27
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Market Cap $4,332,540,239
Shares 70,505,130
Float 44,917,620
Enterprise Value $3,679,652,160
Volume 559,417
Av. Daily Volume 967,982
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Latest News

  1. First quarter total revenue of $32.1 million, up 23 percent year-over-year; Software revenue of $26.3 million, up 11 percent year-over-year

    Expanded agreement with AstraZeneca; New agreement with NVIDIA

    Development candidate selected for MALT1 inhibitor program; Internal pipeline progressing with plans to submit up to three investigational new drug applications to the FDA in 2022

    Company maintains full-year 2021 financial outlook

    Schrödinger, Inc. (NASDAQ:SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced financial results for the quarter ended March 31, 2021, and provided an update on the company.

    "We had strong execution across multiple facets of our business…

    First quarter total revenue of $32.1 million, up 23 percent year-over-year; Software revenue of $26.3 million, up 11 percent year-over-year

    Expanded agreement with AstraZeneca; New agreement with NVIDIA

    Development candidate selected for MALT1 inhibitor program; Internal pipeline progressing with plans to submit up to three investigational new drug applications to the FDA in 2022

    Company maintains full-year 2021 financial outlook

    Schrödinger, Inc. (NASDAQ:SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced financial results for the quarter ended March 31, 2021, and provided an update on the company.

    "We had strong execution across multiple facets of our business during the quarter," stated Ramy Farid, Ph.D., chief executive officer at Schrödinger. "We are continuing to advance our internal drug discovery pipeline and recently selected a development candidate for our MALT1 inhibitor program. Progress on our internal programs, coupled with our collaborators' successes with molecules we've helped discover, are powerful examples that our platform and approach generates high-quality development candidates. We look forward to seeing the full impact of our technology as pharmaceutical, biotechnology and materials companies adopt our platform on a larger scale."

    Today the company announced an expanded collaboration with AstraZeneca to deploy Schrödinger's computational platform to help accelerate drug discovery. The collaboration is an expansion of the agreement announced in September 2019, which was a pilot project across an initial small number of programs. Under the expanded agreement, AstraZeneca will fully deploy Schrödinger's platform across all its structurally-enabled small molecule discovery programs.

    First Quarter 2021 Financial Results

    • Revenue was $32.1 million for the first quarter of 2021, a 23 percent increase compared to the first quarter of 2020.
    • Software revenue was $26.3 million for the first quarter of 2021, an 11 percent increase compared to the first quarter of 2020.
    • Drug discovery revenue was $5.8 million for the first quarter of 2021, compared to $2.4 million in the first quarter of 2020.
    • Gross profit was $16.2 million in the first quarter of 2021, up three percent over the first quarter in 2020. Software gross margin was 78 percent in the first quarter of 2021, compared to 83 percent for the same period in the prior year.
    • Operating expenses for the first quarter of 2021 were $40.1 million, compared to $27.4 million in the first quarter of 2020.
    • Other income, which included losses on equity investments, changes in fair value of such investments and interest income, was $23.5 million in the first quarter of 2021 compared to a loss of $2.4 million for the first quarter of 2020. Other income for the first quarter of 2021 included a $24.8 million non-cash gain from the change in fair value of Schrödinger's equity stake in Morphic Therapeutic. Additionally, in the first quarter of 2021, Schrödinger sold its equity stake in Relay Therapeutics, Inc. for cash proceeds of $15.7 million, which resulted in a non-cash loss of $1.8 million as a result of the fair value based on the share price of the Relay Therapeutics common stock at the sales date.
    • Net loss, after adjusting for non-controlling interests, was $0.0 million for the first quarter of 2021, compared to a net loss of $13.8 million in the first quarter of 2020.

    Recent Business Highlights

    Continued revenue growth and strategic execution

    • Reported 23 percent total revenue growth in the first quarter of 2021, driven by significant increase in drug discovery revenue in addition to continued uptake of Schrödinger's core technologies including FEP+ and its enterprise solution, LiveDesign, as well as growth in new customers.
    • Ended the first quarter of 2021 with cash, cash equivalents, restricted cash and marketable securities of $649.0 million, compared to $643.2 million as of December 31, 2020.

    Progressed internal pipeline

    • Selected a development candidate for the company's MALT1 inhibitor program. Targeting MALT1 is emerging as a potential therapeutic strategy to treat certain relapsed or resistant B-cell lymphomas and chronic lymphocytic leukemia.
    • Continued to advance multiple programs toward IND-enabling studies; subject to completion of the preclinical data packages, the company expects to submit up to three IND applications in 2022, with the first submission to the FDA expected in the first half of next year.
    • Presented preclinical data on the company's CDC7 inhibitor program at the American Association for Cancer Research (AACR) Annual Virtual Meeting. The data showed that Schrödinger's picomolar CDC7 inhibitors were highly selective and inhibited tumor cell growth alone and in combination with several approved and investigational cancer treatments.
    • Advanced discovery efforts to allow addition of new programs to the company's internal pipeline in 2021.

    Continued investment in Schrödinger's computational platform

    • Formed a strategic partnership with NVIDIA to further optimize Schrödinger's software platform for the NVIDIA DGX SuperPODTM, an enterprise system that can be scaled to enable any organization to reach supercomputing speed and power. Optimizing Schrödinger's platform for the NVIDIA GPU framework is designed to give customers access to an all-in-one supercomputing solution for in silico drug and materials discovery.
    • Further expanded the domain of applicability for Schrödinger's software platform. Recently published research provided rationale for applying Schrödinger's free energy calculation technology, FEP+, to ion channels using structures generated by cryo-electron microscopy (cryo-EM). The company's scientists also published research describing a highly accurate method to predict the binding modes of small molecule inhibitors binding to protein targets with flexible binding sites, which have historically been challenging targets for structure-based drug design. Additionally, Schrödinger scientists co-authored a white paper describing how recent advances in protein production and cryo-EM can rapidly facilitate the structural enablement of drug targets.

    Full-Year 2021 Financial Outlook

    As of May 11, 2021, Schrödinger continues to expect total revenue to range from $124 million to $142 million, with software revenue expected to range from $102 million to $110 million and drug discovery revenue expected to range from $22 million to $32 million for the fiscal year ending December 31, 2021. Additional details are as follows:

    • Software revenue growth is expected to be higher in the second half of the year with the majority of second half growth in the fourth quarter of 2021.
    • Drug discovery revenue is expected to be highly variable quarter to quarter based on the timing of potential milestones related to collaborative agreements.
    • Schrödinger continues to aggressively fund R&D to advance its technology and drug discovery pipeline. The company expects operating expense growth to be higher than the 42% annual growth rate reported in 2020 and expects software gross margin to be lower than the 81% reported in 2020.

    Webcast and Conference Call Information

    Schrödinger will host a conference call to discuss its first quarter financial results on Tuesday, May 11, 2021, at 8:30 a.m. ET. The conference call can be accessed live by dialing (833) 727-9520 (domestic) or +1 (830) 213-7697 (international) and referring to conference ID 3297222. The webcast can also be accessed under "News & Events" in the investors section of Schrödinger's website, https://ir.schrodinger.com/news-and-events/event-calendar. The archived webcast will be available on Schrödinger's website following the event.

    About Schrödinger

    Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrödinger's multidisciplinary drug discovery team also leverages the software platform to advance collaborative programs and its own pipeline of novel therapeutics to address unmet medical needs.

    Founded in 1990, Schrödinger has over 450 employees and is engaged with customers and collaborators in more than 70 countries. To learn more visit www.schrodinger.com and follow us on LinkedIn and Twitter.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those regarding Schrödinger's expectations about the speed and capacity of its computational platform, the company's financial outlook for the fiscal year ending December 31, 2021, the company's plans to continue to invest in research and its strategic plans to accelerate the growth of its software business and advance its collaborative and internal drug discovery programs, the company's ability to improve and advance the science underlying its platform, including through the use of new technologies, the potential expansion of the domain of applicability of the company's platform, the company's ability to recognize potential benefits from its strategic partnerships, the clinical potential and favorable properties of the company's CDC7, MALT1, and Wee1 inhibitors, as well as the potential for its inhibitor programs to be used in combination with existing therapies, the timing of potential IND applications for its internal drug discovery programs, the ability to realize potential milestones, royalties or other payments under its collaborations, as well as the company's expectations related to the use of its cash, cash equivalents and marketable securities. Statements including words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," "would" and statements in the future tense are forward-looking statements. These forward-looking statements reflect Schrödinger's current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the company and on assumptions the company has made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond Schrödinger's control, including the demand for its software solutions, the ability to further develop its computational platform, the reliance upon third-party providers of cloud-based infrastructure to host its software solutions, the reliance upon its third-party drug discovery collaborators, the uncertainties inherent in drug development and commercialization, such as the conduct of research activities and the timing of and its ability to initiate and complete preclinical studies and clinical trials, whether results from preclinical studies will be predictive of the results of later preclinical studies and clinical trials, uncertainties associated with the regulatory review of clinical trials and applications for marketing approvals, the ability to retain and hire key personnel and the direct and indirect impacts of the ongoing COVID-19 pandemic on its business and other risks detailed under the caption "Risk Factors" and elsewhere in the company's Securities and Exchange Commission filings and reports, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed with the Securities and Exchange Commission on May 11, 2021, as well as future filings and reports by Schrödinger. Any forward-looking statements contained in this press release speak only as of the date hereof. Except as required by law, the company undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.

    Condensed Consolidated Statements of Operations (Unaudited)

    (in thousands, except for share and per share amounts)

     

    Three Months Ended March 31,

    2021

     

    2020

    Revenues:

    Software products and services

    $

    26,340

     

    $

    23,812

     

    Drug discovery

     

    5,787

     

     

    2,362

     

    Total revenues

     

    32,127

     

     

    26,174

     

    Cost of revenues:

    Software products and services

     

    5,906

     

     

    4,001

     

    Drug discovery

     

    10,057

     

     

    6,548

     

    Total cost of revenues

     

    15,963

     

     

    10,549

     

    Gross profit

     

    16,164

     

     

    15,625

     

    Operating expenses:

    Research and development

     

    21,448

     

     

    13,700

     

    Sales and marketing

     

    5,239

     

     

    4,789

     

    General and administrative

     

    13,389

     

     

    8,936

     

    Total operating expenses

     

    40,076

     

     

    27,425

     

    Loss from operations

     

    (23,912

    )

     

    (11,800

    )

    Other (expense) income:

    Loss on equity investments

     

    (1,781

    )

     

     

    Change in fair value

     

    24,824

     

     

    (3,079

    )

    Interest income

     

    420

     

     

    699

     

    Total other income (expense)

     

    23,463

     

     

    (2,380

    )

    Loss before income taxes

     

    (449

    )

     

    (14,180

    )

    Income tax expense

     

    74

     

     

    91

     

    Net loss

     

    (523

    )

     

    (14,271

    )

    Net loss attributable to noncontrolling interest

     

    (494

    )

     

    (445

    )

    Net loss attributable to Schrödinger common and limited common stockholders

    $

    (29

    )

    $

    (13,826

    )

    Net loss per share attributable to Schrödinger common and limited common stockholders, basic and diluted:

    $

     

    $

    (0.34

    )

    Weighted average shares used to compute net loss per share attributable to Schrödinger common and limited common stockholders, basic and diluted:

     

    70,071,625

     

     

    40,666,970

     

    Condensed Consolidated Balance Sheets (Unaudited)

    (in thousands, except for share and per share amounts)

     

    Assets

    March 31, 2021

     

    December 31, 2020

    Current assets:

    Cash and cash equivalents

    $

    133,122

     

    $

    202,296

     

    Restricted cash

     

    500

     

     

    500

     

    Marketable securities

     

    515,372

     

     

    440,395

     

    Accounts receivable, net of allowance for doubtful accounts of $60 and $60

     

    11,270

     

     

    31,423

     

    Unbilled and other receivables, net for allowance for unbilled receivables of $20 and $0

     

    7,020

     

     

    3,955

     

    Prepaid expenses

     

    7,954

     

     

    4,409

     

    Total current assets

     

    675,238

     

     

    682,978

     

    Property and equipment, net

     

    4,799

     

     

    5,140

     

    Equity investments

     

    52,931

     

     

    45,664

     

    Right of use assets

     

    8,865

     

     

    10,129

     

    Other assets

     

    2,356

     

     

    2,352

     

    Total assets

    $

    744,189

     

    $

    746,263

     

    Liabilities and Stockholders' Equity

    Current liabilities:

    Accounts payable

    $

    7,220

     

    $

    8,398

     

    Accrued payroll, taxes, and benefits

     

    10,345

     

     

    12,000

     

    Deferred revenue

     

    40,759

     

     

    45,403

     

    Lease liabilities

     

    3,576

     

     

    4,543

     

    Other accrued liabilities

     

    5,721

     

     

    2,861

     

    Total current liabilities

     

    67,621

     

     

    73,205

     

    Deferred revenue, long-term

     

    37,356

     

     

    41,164

     

    Lease liabilities, long-term

     

    6,836

     

     

    7,221

     

    Other liabilities, long-term

     

    600

     

     

    654

     

    Total liabilities

     

    112,413

     

     

    122,244

     

    Commitments and contingencies

     

     

    Stockholders' equity:

    Preferred stock, $0.01 par value. Authorized 10,000,000 shares; zero shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively

     

     

     

     

    Common stock, $0.01 par value. Authorized 500,000,000 shares; 61,300,675 and 60,713,534 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively

     

    613

     

     

    607

     

    Limited common stock, $0.01 par value. Authorized 100,000,000 shares; 9,164,193 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively

     

    92

     

     

    92

     

    Additional paid-in capital

     

    760,574

     

     

    752,558

     

    Accumulated deficit

     

    (129,588

    )

     

    (129,559

    )

    Accumulated other comprehensive income

     

    77

     

     

    317

     

    Total stockholders' equity of Schrödinger stockholders

     

    631,768

     

     

    624,015

     

    Noncontrolling interest

     

    8

     

     

    4

     

    Total stockholders' equity

     

    631,776

     

     

    624,019

     

    Total liabilities and stockholders' equity

    $

    744,189

     

    $

    746,263

     

    Condensed Consolidated Statements of Cash Flows (Unaudited)

    (in thousands)

     

    Three Months Ended March 31,

    2021

     

    2020

    Cash flows from operating activities:

    Net loss

    $

    (523

    )

    $

    (14,271

    )

    Adjustments to reconcile net loss to net cash used in operating activities:

    Loss on equity investments

     

    1,781

     

     

     

    Noncash revenue from equity investments

     

    (5

    )

     

    (46

    )

    Fair value adjustments

     

    (24,824

    )

     

    3,079

     

    Depreciation

     

    887

     

     

    877

     

    Stock-based compensation

     

    4,366

     

     

    1,775

     

    Noncash research and development expenses

     

    498

     

     

    435

     

    Noncash investment accretion

     

    1,955

     

     

    83

     

    Loss on disposal of property and equipment

     

    19

     

     

     

    Decrease (increase) in assets:

    Accounts receivable, net

     

    20,153

     

     

    2,404

     

    Unbilled and other receivables

     

    (3,065

    )

     

    5,154

     

    Reduction in the carrying amount of right of use assets

     

    1,264

     

     

    1,299

     

    Prepaid expenses and other assets

     

    (3,549

    )

     

    (1,106

    )

    Increase (decrease) in liabilities:

    Accounts payable

     

    (1,230

    )

     

    2,110

     

    Accrued payroll, taxes, and benefits

     

    (1,655

    )

     

    (2,289

    )

    Deferred revenue

     

    (8,447

    )

     

    (3,378

    )

    Lease liabilities

     

    (1,352

    )

     

    (1,266

    )

    Other accrued liabilities

     

    2,806

     

     

    (638

    )

    Net cash used in operating activities

     

    (10,921

    )

     

    (5,778

    )

    Cash flows from investing activities:

    Purchases of property and equipment

     

    (513

    )

     

    (843

    )

    Purchases of equity investments

     

     

     

    (2,869

    )

    Distribution from equity investment

     

    40

     

     

     

    Proceeds from sale of equity investments

     

    15,735

     

     

     

    Purchases of marketable securities

     

    (143,671

    )

     

    (127,109

    )

    Proceeds from maturity of marketable securities

     

    66,500

     

     

    42,908

     

    Net cash used in investing activities

     

    (61,909

    )

     

    (87,913

    )

    Cash flows from financing activities:

    Issuances of common stock upon initial public offering, net

     

     

     

    212,277

     

    Issuances of common stock upon stock option exercises

     

    3,656

     

     

    177

     

    Net cash provided by financing activities

     

    3,656

     

     

    212,454

     

    Net (decrease) increase in cash and cash equivalents and restricted cash

     

    (69,174

    )

     

    118,763

     

    Cash and cash equivalents and restricted cash, beginning of period

     

    202,796

     

     

    26,486

     

    Cash and cash equivalents and restricted cash, end of period

    $

    133,622

     

    $

    145,249

     

     

    Supplemental disclosure of cash flow and noncash information

    Cash paid for income taxes

    $

    119

     

    $

    64

     

    Supplemental disclosure of non-cash investing and financing activities

    Payment of deferred offering costs

     

     

     

    786

     

    Purchases of property and equipment

     

    52

     

     

    254

     

    Acquisitions of right of use assets in exchange for lease obligations

     

     

     

    1,778

     

    Reclassification of deferred financing costs to additional paid in capital

     

     

     

    1,858

     

     

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  2. Schrödinger (NASDAQ:SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced that management will provide a corporate overview at the Bank of America Securities 2021 Virtual Healthcare Conference. The presentation will take place virtually on Tuesday, May 11, 2021, at 3:30 pm. ET.

    The live webcast can be accessed under "News & Events" in the investors section of Schrödinger's website, https://ir.schrodinger.com/news-and-events/event-calendar and will be archived for approximately 14 days.

    About Schrödinger

    Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of…

    Schrödinger (NASDAQ:SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced that management will provide a corporate overview at the Bank of America Securities 2021 Virtual Healthcare Conference. The presentation will take place virtually on Tuesday, May 11, 2021, at 3:30 pm. ET.

    The live webcast can be accessed under "News & Events" in the investors section of Schrödinger's website, https://ir.schrodinger.com/news-and-events/event-calendar and will be archived for approximately 14 days.

    About Schrödinger

    Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrödinger's multidisciplinary drug discovery team also leverages the software platform to advance collaborative programs and its own pipeline of novel therapeutics to address unmet medical needs.

    Founded in 1990, Schrödinger has over 450 employees and is engaged with customers and collaborators in more than 70 countries. To learn more, visit www.schrodinger.com and follow us on LinkedIn and Twitter.

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  3. SHANGHAI, April 28, 2021 /PRNewswire/ -- Qiming's portfolio company Fanli.com went public today on Shanghai Stock Exchange via a reverse merger with Jiangxi Changjiu Biochemical (SHSE: 600228). The stock price is CNY 12.25 per share at the open of trading today, representing a market cap of CNY 10.085 billion.

    The company used "Fanli Technology" as its stock abbreviation to highlight its technology attribute, implying that it will enhance its technological capabilities to earn a growing expectation from the capital market.

    Qiming Venture Partners first invested in Fanli.com in 2011 in its first funding round and worked alongside the company for ten years. Qiming owns 4.48% of the company after the public listing.

    The listing of Fanli.com is…

    SHANGHAI, April 28, 2021 /PRNewswire/ -- Qiming's portfolio company Fanli.com went public today on Shanghai Stock Exchange via a reverse merger with Jiangxi Changjiu Biochemical (SHSE: 600228). The stock price is CNY 12.25 per share at the open of trading today, representing a market cap of CNY 10.085 billion.

    The company used "Fanli Technology" as its stock abbreviation to highlight its technology attribute, implying that it will enhance its technological capabilities to earn a growing expectation from the capital market.

    Qiming Venture Partners first invested in Fanli.com in 2011 in its first funding round and worked alongside the company for ten years. Qiming owns 4.48% of the company after the public listing.

    The listing of Fanli.com is the sixth public listing in the Qiming portfolio in 2021 and the 18th public listing since 2020.

    Founded in 2006, Fanli.com is a leading third-party online shopping guide platform in China, providing shopping guidance, advertising promotion and technical services to customers and merchants. As of June 30th, 2020, Fanli.com has more than 260 million registered users across the App, website and WeChat mini program. Fanli.com covers various consumer scenes, including shopping, travels, dining, ticketing, education, among others.

    Fanli.com has built user portraits and optimized search results with big data and artificial intelligence technology. This improved the conversion rate and optimized the operations, so that users can obtain brand discounts with greater convenience and efficiency.

    Mr. Ge Yongchang, Founder and CEO of Fanli.com, once said that the company would expand its business scope from the e-commerce sector to more consumer scenes such as lifestyle. Fanli.com will provide consumer users with shopping guidance and provide brands and merchants with integrated marketing services empowered by big data technology. Fanli.com will provide more innovative services via its platforms.

    About Qiming Venture Partners

    Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

    Currently Qiming Venture Partners manages nine US Dollar funds and six RMB funds with $5.9 billion in assets under management. Since our establishment, we have invested in outstanding companies in the TMT and healthcare industries at the early and growth stages.

    Since our debut, we have backed over 380 fast-growing and innovative companies. Over 130 companies are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange and Shenzhen Stock Exchange, or achieved exit through M&A and other means. There are also over 40 portfolio companies that have achieved unicorn status.

    Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi (SEHK:1810), Meituan (SEHK:3690), Bilibili (NASDAQ:BILI), Roborock (SHSE:688169), Gan & Lee Pharmaceuticals (SHSE: 603087), Tigermed (SZSE:300347, SEHK:3347), New Horizon Health (SEHK:6606), Zai Lab (NASDAQ:ZLAB, SEHK:9688))), Venus MedTech (SEHK:2500), CanSino Biologics (SEHK:6185, SHSE:688185), Schrödinger (NASDAQ:SDGR), APT Medical (SHSE:688617), Sanyou Medical (SHSE:688085), AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710), SinocellTech (SHSE: 688520), WeDoctor Group, and UBTech among many others.

    Cision View original content:http://www.prnewswire.com/news-releases/qimings-portfolio-company-fanlicom-goes-public-on-shanghai-stock-exchange-301278862.html

    SOURCE Qiming Venture Partners

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  4. Schrödinger (NASDAQ:SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced that it will host a conference call and webcast on Tuesday, May 11, 2021, at 8:30 a.m. ET to discuss first quarter 2021 financial results and provide a general business update.

    The live webcast can be accessed under "News & Events" in the investors section of Schrödinger's website, https://ir.schrodinger.com/news-and-events/event-calendar. To participate in the live call, please dial (833) 727-9520 (domestic) or +1 (830) 213-7697 (international) and refer to conference ID 3297222. The archived webcast will be available on Schrödinger's website for approximately 90 days following the event.

    About

    Schrödinger (NASDAQ:SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced that it will host a conference call and webcast on Tuesday, May 11, 2021, at 8:30 a.m. ET to discuss first quarter 2021 financial results and provide a general business update.

    The live webcast can be accessed under "News & Events" in the investors section of Schrödinger's website, https://ir.schrodinger.com/news-and-events/event-calendar. To participate in the live call, please dial (833) 727-9520 (domestic) or +1 (830) 213-7697 (international) and refer to conference ID 3297222. The archived webcast will be available on Schrödinger's website for approximately 90 days following the event.

    About Schrödinger

    Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrödinger's multidisciplinary drug discovery team also leverages the software platform to advance collaborative programs and its own pipeline of novel therapeutics to address unmet medical needs.

    Founded in 1990, Schrödinger has over 450 employees and is engaged with customers and collaborators in more than 70 countries. To learn more, visit www.schrodinger.com and follow us on LinkedIn and Twitter.

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  5. Schrödinger, Inc. (NASDAQ:SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today reported that on April 13, 2021, the company granted non-statutory stock options to purchase an aggregate of 7,450 shares of the company's common stock to three newly-hired employees. These grants were made pursuant to the company's 2021 Inducement Equity Incentive Plan, were approved by the compensation committee of the board of directors pursuant to a delegation by the company's board of directors and were made as a material inducement to such employees' acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation…

    Schrödinger, Inc. (NASDAQ:SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today reported that on April 13, 2021, the company granted non-statutory stock options to purchase an aggregate of 7,450 shares of the company's common stock to three newly-hired employees. These grants were made pursuant to the company's 2021 Inducement Equity Incentive Plan, were approved by the compensation committee of the board of directors pursuant to a delegation by the company's board of directors and were made as a material inducement to such employees' acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

    The stock options have an exercise price of $75.53 per share, equal to the closing price of Schrödinger's common stock on April 13, 2021. Each stock option has a ten-year term and vests over four years, with 25 percent of the shares underlying the option vesting when the employee completes 12 months of continuous service measured from the employment start date and the balance of the shares vesting in a series of successive equal monthly installments of 1/48 of the original number of shares upon the employee's completion of each additional month of service over the 36 months following the first anniversary of the employment start date. The inducement grants are subject to the terms and conditions of award agreements covering the grants and the company's 2021 Inducement Equity Incentive Plan.

    About Schrödinger

    Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrödinger's multidisciplinary drug discovery team also leverages the software platform to advance collaborative programs and its own pipeline of novel therapeutics to address unmet medical needs.

    Founded in 1990, Schrödinger has over 450 employees and is engaged with customers and collaborators in more than 70 countries. To learn more, visit www.schrodinger.com and follow us on LinkedIn and Twitter.

    View Full Article Hide Full Article
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