Schrodinger, Inc. - SDGR STOCK NEWS

Schrödinger (Nasdaq: SDGR) has secured a $4.9 million grant from the Bill & Melinda Gates Foundation to enhance drug discovery for non-hormonal contraceptives. This funding, aimed at a global women's health initiative, focuses on developing safe and effective contraceptive agents with better tolerability versus conventional methods. Schrödinger plans to utilize its advanced drug discovery platform for this project, showcasing its commitment to health and social responsibility objectives.

Schrödinger, Inc. (Nasdaq: SDGR) announced the grant of non-statutory stock options to purchase 7,250 shares of common stock to four newly hired employees on November 15, 2021. This grant, part of the 2021 Inducement Equity Incentive Plan, was made to induce employment acceptance and complies with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $45.45 per share, vesting over four years. Schrödinger utilizes a physics-based software platform for drug and materials discovery, serving various sectors globally.

Schrödinger, Inc. (Nasdaq: SDGR) reported third-quarter 2021 revenue of $29.9 million, up 16% year-over-year. Software revenue was $24.3 million, reflecting growth despite the impact of previous multi-year contracts. Drug discovery revenue increased to $5.6 million, driven by a collaboration with Bristol Myers Squibb. However, gross profit fell to $11.1 million, down from $15.3 million last year. Operating expenses surged to $45.8 million, leading to a net loss of $35 million. The company maintains a full-year revenue outlook of $124 million to $134 million.

Schrödinger (Nasdaq: SDGR) announced its participation in the Jefferies London Healthcare Conference, with a pre-recorded fireside chat presentation accessible on November 18, 2021, after 8:00 a.m. GMT. The webcast will be available on their website and archived for about 14 days. The company is recognized for its physics-based software platform that accelerates the discovery of therapeutics and materials, aiding biopharmaceutical firms and academic institutions globally. Founded in 1990, Schrödinger operates in over 70 countries with a team of over 500 employees.

Schrödinger, Inc. (Nasdaq: SDGR) announced new preclinical data on its small-molecule MALT1 inhibitors, to be presented at the American Society of Hematology's Annual Meeting from December 11-14, 2021, in Atlanta, Georgia. MALT1 inhibitors are a promising therapeutic route for certain non-Hodgkin B-cell lymphomas and chronic lymphocytic leukemia (CLL). The lead MALT1 inhibitor is expected to enter clinical trials next year. The presentation will cover characterization details, which may enhance investor interest and highlight the company's innovative drug discovery approach.

Schrödinger (Nasdaq: SDGR) will host a conference call on November 10, 2021, at 4:30 p.m. ET to discuss its third quarter 2021 financial results. The call will provide an update on the company's business and can be accessed via its website's investor section. Schrödinger specializes in a physics-based software platform aimed at revolutionizing therapeutic and material discovery, offering faster and cost-effective solutions for its clients in multiple sectors.

Schrödinger (Nasdaq:SDGR) and Centessa Pharmaceuticals (Nasdaq:CNTA) announced an exclusive collaboration to discover novel therapeutics targeting the orexin-2 receptor (OX2R), relevant for sleep disorders like narcolepsy. This partnership marks the first large-scale application of Schrödinger's computational platform in orexin agonist development, leveraging Orexia’s structural biology capabilities. Orexia will manage preclinical research and commercialization, while Schrödinger will receive upfront payments and potential royalties on global sales. The collaboration aims to explore orexin agonists for various disorders characterized by excessive daytime sleepiness.

Schrödinger, Inc. (Nasdaq: SDGR) announced on October 15, 2021 that it granted stock options for 35,550 shares to 13 new employees, as part of its 2021 Inducement Equity Incentive Plan. The options have an exercise price of $55.36 per share, matching the company's closing stock price on the granting date. These options will vest over four years, with 25% vesting after one year, and the remainder in monthly installments over the following three years. This move aims to attract talent and incentivize long-term commitment from the new hires.

Schrödinger, Inc. (Nasdaq: SDGR) has announced a strategic two-year collaboration with The University of Texas MD Anderson Cancer Center to advance its WEE1 inhibitor program. The partnership aims to optimize therapeutic development through biomarker-driven patient stratification and clinical study prioritization. Schrödinger's WEE1 inhibitors showed promising preclinical results, and the collaboration will investigate their potential as single agents and in combination therapies for specific cancer types. Schrödinger retains sole responsibility for development and commercialization of these compounds.