Schrodinger, Inc. - SDGR STOCK NEWS

Schrödinger (SDGR) has granted restricted stock units (RSUs) for 2,785 shares to four new employees as inducement awards. The grants, made under the company's 2021 Inducement Equity Incentive Plan, were approved by the compensation committee and comply with Nasdaq Listing Rule 5635(c)(4). The RSUs follow a four-year vesting schedule, with 25% vesting after 12 months of continuous service and the remaining 75% vesting in equal yearly installments over the following three years.

Schrödinger (SDGR) is expanding its computational platform initiative to predict toxicology risk in early drug discovery, receiving an additional $9.5 million from the Bill & Melinda Gates Foundation, following their initial $10 million grant in July 2024. The funding extends to April 2026 and will accelerate access to experimental structures. The technology aims to reduce drug development failures by identifying off-target protein binding risks. Once developed, the tools will be available to Gates Foundation grantees globally and Schrödinger's software customers, supporting drug development for diseases affecting low- and middle-income countries.

Schrödinger (SDGR) reported Q3 2024 financial results with total revenue of $35.3 million, down from $42.6 million in Q3 2023. Software revenue increased 10% to $31.9 million, while drug discovery revenue decreased to $3.4 million. The company announced a new collaboration with Novartis, receiving $150 million upfront with potential milestone payments up to $2.3 billion. Operating expenses rose to $86.2 million, and net loss was $38.1 million. The company updated its 2024 guidance, projecting software revenue growth of 8-13% and drug discovery revenue between $20-30 million.

Schrödinger (SDGR) has announced a significant collaboration with Novartis comprising two major agreements. First, a research collaboration and license agreement where Schrödinger will receive $150 million upfront and is eligible for up to $2.3 billion in milestone payments plus royalties. Second, an expanded three-year software agreement giving Novartis broader access to Schrödinger's computational predictive modeling technology.

The companies will jointly work on multiple development candidates in Novartis's core therapeutic areas. While both companies will share discovery responsibilities, Novartis will handle clinical development, manufacturing, and global commercialization. The royalty structure includes tiered mid single-digit to low double-digit percentages on net sales.

Schrödinger (Nasdaq: SDGR), a company leveraging physics-based computational platforms for therapeutics and materials discovery, has announced its upcoming participation at the Jefferies London Healthcare Conference. The company's management will engage in a fireside chat scheduled for Wednesday, November 20, at 8:30 a.m. GMT (3:30 a.m. ET). Interested parties can access the live webcast through the 'Investors' section of Schrödinger's website, where it will remain available for approximately 90 days after the event.

Schrödinger (Nasdaq: SDGR), a company specializing in physics-based computational platforms for therapeutics and materials discovery, has announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, before market opening. The company will hold a conference call and webcast at 8:00 a.m. ET. Investors can access the live webcast through the company's website, where it will remain available for approximately 90 days.

Schrödinger (SDGR) presented new preclinical data on SGR-3515, its investigational Wee1/Myt1 inhibitor, at the 36th EORTC-NCI-AACR Symposium. The data shows SGR-3515 achieves superior anti-tumor activity through dual inhibition of Wee1 and Myt1, with a favorable pharmacological profile supporting intermittent dosing. A Phase 1 dose-escalation study is ongoing with initial data expected in H2 2025. The company also presented data on its PRMT5-MTA inhibitor program, showcasing a novel series of selective compounds for peripheral and brain tumors.

Schrödinger (Nasdaq: SDGR) announced that new preclinical data on SGR-3515, its investigational Wee1/Myt1 inhibitor, and the company’s PRMT5-MTA inhibitor program will be presented at the 36th EORTC-NCI-AACR Symposium (ENA 2024) from October 23-25, 2024, in Barcelona, Spain.

The SGR-3515 presentation will highlight data characterizing SGR-3515 in preclinical oncology models, showing its potential as a therapy for advanced solid tumors. A Phase 1 clinical trial is ongoing. The PRMT5-MTA presentation will cover the discovery of a novel series of selective, potent PRMT5-MTA inhibitors optimized for peripheral and brain tumors.

Details of the presentations include:

• SGR-3515: October 23, 2024, 12PM-2PM CEST, Abstract Number: 147
• PRMT5-MTA: October 25, 2024, 9AM-3PM CEST, Abstract Number: 372

Schrödinger (Nasdaq: SDGR), a company revolutionizing drug and materials discovery through physics-based computational methods, has announced the granting of restricted stock units (RSUs) to eight new employees on September 13, 2024. The grants, totaling 7,025 shares of common stock, were approved under the company's 2021 Inducement Equity Incentive Plan and comply with Nasdaq Listing Rule 5635(c)(4). These RSUs are designed to vest over four years, with 25% vesting after the first year of continuous service and the remaining 75% vesting in equal yearly installments over the following three years. This move serves as a material inducement for the new hires, aligning their interests with the company's long-term success.