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Schrodinger, Inc. (symbol: SDGR) is a top-tier provider of state-of-the-art molecular simulations and enterprise software solutions, catering primarily to the pharmaceutical, biotechnology, and materials science industries. With its pioneering software, Schrodinger empowers scientists to accelerate research and development, cut down on research expenses, and make groundbreaking discoveries that might not be feasible otherwise.
Established in 1990, Schrodinger has continually invested in fundamental research, leading to numerous scientific breakthroughs in drug discovery and materials science. The company's researchers have contributed hundreds of peer-reviewed scientific publications, often cited as significant works in their respective fields.
Schrodinger operates through two main segments: Software and Drug Discovery. The Software segment focuses on selling advanced software that revolutionizes drug discovery across the life sciences industry. It also caters to customers in materials science. The Drug Discovery segment generates revenue from a portfolio of preclinical and clinical programs, both internally developed and through collaborations.
Schrodinger has established profound partnerships and collaborations with companies in biotechnology, pharmaceuticals, chemicals, and electronics. One notable collaboration is with Nimbus Therapeutics, a biotech firm co-founded by Schrodinger. The company's global presence includes operations in the U.S., Europe, Japan, and India.
Recent achievements highlight Schrodinger's continuous innovation and success. The predictive power of its software solutions has led to significant advancements in scientific research, enhancing the efficiency and efficacy of drug discovery processes. Schrodinger's commitment to excellence and scientific integrity ensures it remains at the forefront of its industry, driving forward the boundaries of what is possible in molecular simulations and drug discovery.
Schrödinger (Nasdaq: SDGR) announced the presentation of preclinical data from its CDC7 program at the AACR Annual Meeting. Targeting CDC7, a protein kinase critical for DNA replication, presents a novel therapeutic approach in cancer treatment. The presentation, titled "Discovery of novel CDC7 inhibitors that disrupt cell cycle dynamics and show anti-proliferative effects in cancer cells," is scheduled for April 10, 2021. Schrödinger’s software platform aids in accelerating the discovery of innovative therapeutics and materials across various sectors.
Schrödinger, Inc. (Nasdaq: SDGR) reported substantial financial results for Q4 and FY 2020, highlighting a 28% revenue growth in Q4, reaching $33 million, with software revenue surging by 42% to $25 million. The company ended 2020 with $643.2 million in cash and equivalents, enabling strategic investments for future growth. Importantly, Schrödinger entered a collaboration with Bristol Myers Squibb, securing a $55 million upfront payment, with potential milestone payments up to $2.7 billion. Looking ahead, the company expects FY 2021 revenue between $124 million and $142 million.
Schrödinger (Nasdaq: SDGR) announced its participation in the H.C. Wainwright Global Life Sciences Conference, scheduled for March 9-10, 2021. The event will feature a virtual corporate overview, which can be accessed via the 'News & Events' section on Schrödinger’s website. This recorded presentation will be available for approximately 14 days.
Schrödinger is revolutionizing drug and materials discovery through its innovative software platform.
Schrödinger, Inc. (Nasdaq: SDGR) has expanded its collaboration with Google Cloud, replacing a three-year agreement with a new five-year deal. This partnership will provide Schrödinger with hundreds of millions of GPU hours, tripling its previous throughput and enhancing its computational capacity for drug discovery and materials science. Schrödinger's Chief Information Officer emphasized this collaboration strengthens their leadership in molecular modeling and drug development. The goal is to accelerate drug discovery, enabling rapid exploration of chemical space.
Schrödinger (Nasdaq: SDGR) will present a corporate overview at the SVB Leerink Partners 10th Annual Global Healthcare Conference on February 26, 2021, at 3:00 p.m. ET. The event will be held virtually, and the live webcast can be accessed via the 'News & Events' section of Schrödinger's website, where it will also be archived for approximately 14 days. Schrödinger's software platform revolutionizes the discovery of therapeutics and materials, enabling faster and more cost-effective drug development.
Schrödinger (Nasdaq: SDGR) will host a conference call and webcast on March 4, 2021, at 8:30 a.m. ET to discuss its fourth quarter and year-end 2020 financial results. The event will also provide a general business update. The live webcast can be accessed in the investors section of Schrödinger's website. Founded in 1990, Schrödinger employs over 450 people and utilizes a physics-based software platform to enhance the discovery of therapeutic and material innovations, aiming to accelerate development while lowering costs.
Schrödinger, Inc. (Nasdaq: SDGR) presented promising preclinical data on its MALT1 inhibitor program targeting B-cell lymphomas at the 62nd ASH Annual Meeting. The newly identified MALT1 inhibitors demonstrated strong anti-tumor activity, both alone and in combination with existing therapies like ibrutinib and venetoclax. The company plans to advance this program into IND-enabling studies in the first half of 2021. This research showcases the potential for MALT1 inhibitors to offer alternative treatment options for patients resistant to standard therapies.
Schrödinger, Inc. (Nasdaq: SDGR) has announced a multi-year collaboration with Bristol Myers Squibb (NYSE: BMY) to discover and develop therapeutics across various disease areas. This partnership will leverage Schrödinger's physics-based computational platform along with Bristol Myers Squibb's development expertise. Under the agreement, Bristol Myers Squibb will pay Schrödinger $55 million upfront and potential milestone payments of up to $2.7 billion, plus royalties on net sales of commercialized products. Schrödinger will lead the discovery of development candidates for the collaboration.
Schrödinger, Inc. (Nasdaq: SDGR) reported a 29% revenue increase to $25.8 million for Q3 2020, driven by a 42% rise in software revenue. Drug discovery revenue fell by 24% to $2.9 million. Gross profit rose 43% to $15.3 million, with software gross margin remaining at 81%. Operating expenses rose 40% to $30.7 million, while other income surged to $18.7 million, including an $18 million gain from Relay Therapeutics. Net income reached $3.9 million, reversing a $11.5 million loss from the prior year. The company ended the quarter with $599.5 million in cash, bolstered by $325.6 million from equity financing.
Schrödinger, Inc. (Nasdaq: SDGR) reported Q3 2020 financial results with revenues of $25.8 million, a 29% increase from Q3 2019. Software revenue surged 42% to $22.9 million, while drug discovery revenue decreased 24% to $2.9 million. The gross profit rose to $15.3 million, up 43%, and the company posted a net income of $3.9 million, a significant improvement from a net loss of $11.5 million in the same quarter last year. Schrödinger ended the quarter with $599.5 million in cash and securities, following a $325.6 million equity offering.
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