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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), a company revolutionizing therapeutics and materials discovery through physics-based computational platforms, has announced the granting of restricted stock units (RSUs) to 13 new employees. On August 14, 2024, the company awarded a total of 7,500 RSUs as part of its 2021 Inducement Equity Incentive Plan. These grants, approved by the compensation committee, serve as a material inducement for employment in compliance with Nasdaq Listing Rule 5635(c)(4).
The RSUs have a four-year vesting schedule, with 25% vesting after 12 months of continuous service, followed by equal yearly installments over the subsequent three years. This move aligns with Schrödinger's strategy to attract and retain top talent in the competitive field of computational drug and materials discovery.
Schrödinger (SDGR), a company revolutionizing drug and materials discovery with its physics-based computational platform, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The company's management will engage in a fireside chat on Wednesday, September 4, 2024, at 3:20 p.m. ET.
Investors and interested parties can access the live webcast of the presentation through the 'Investors' section of Schrödinger's website. The recorded session will remain available for approximately 90 days after the event, providing an extended opportunity for those unable to attend the live presentation to gain insights into the company's developments and strategies.
Schrödinger (Nasdaq: SDGR) reported strong Q2 2024 financial results with total revenue of $47.3 million, a 35% increase year-over-year. Software revenue grew 21% to $35.4 million, while drug discovery revenue more than doubled to $11.9 million. The company launched a major initiative to expand its computational tools for predictive toxicology, funded by a $10 million grant from the Bill & Melinda Gates Foundation. Schrödinger expects to report initial clinical data for its lead programs SGR-1505 in 1H25, and SGR-2921 and SGR-3515 in 2H25. The company updated its 2024 financial outlook, maintaining software revenue growth guidance of 6-13% and drug discovery revenue expectations of $30-35 million.
Schrödinger (NASDAQ: SDGR) has launched an initiative to expand its computational platform for predictive toxicology in drug discovery. The project aims to develop tools to improve drug candidates' properties and reduce development failures due to off-target protein binding. Funded by a $10 million grant from the Bill & Melinda Gates Foundation, the initiative will leverage Schrödinger's physics-based platform and NVIDIA's AI technologies.
The resulting technology will be available to Gates Foundation grantees, Schrödinger's software customers, and for the company's drug discovery programs. This initiative addresses a significant challenge in drug development, as safety issues are a frequent cause of delays and failures. The project aligns with the FDA's Predictive Toxicology Roadmap and has the potential to accelerate drug discovery while reducing toxicity risks in preclinical and clinical studies.
Schrödinger (Nasdaq: SDGR), a company revolutionizing therapeutics and materials discovery with its physics-based computational platform, has announced it will release its second quarter 2024 financial results on Wednesday, July 31, 2024, after the financial markets close. The company will follow this with a conference call and webcast at 4:30 p.m. ET on the same day.
Investors and interested parties can access the live webcast through the 'Investors' section of Schrödinger's website. The webcast will remain archived on the site for approximately 90 days after the event, allowing for later viewing.
Schrödinger (Nasdaq: SDGR), a company using physics-based computational platforms for drug and materials discovery, has reported granting restricted stock units (RSUs) to eight new employees. The grants, totaling 9,990 shares of common stock, were made on July 12, 2024, under the company's 2021 Inducement Equity Incentive Plan.
These RSUs are part of the employees' compensation packages and were approved as a material inducement for their employment, in compliance with Nasdaq Listing Rule 5635(c)(4). The RSUs have 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 announced on June 11, 2024, the granting of stock options and restricted stock units (RSUs) under their 2021 Inducement Equity Incentive Plan. This includes 2,400 shares of common stock to a new hire and RSUs for 9,420 shares to seven new hires. The stock options, priced at $21.00 per share, have a 10-year term and vest over four years. The RSUs also vest over four years, with 25% vesting after the first year and the remaining shares vesting annually over the next three years. These grants were made as an employment inducement in accordance with Nasdaq Listing Rule 5635(c)(4).
Schrödinger (Nasdaq: SDGR) announced that its management will participate in a fireside chat at the Jefferies Global Healthcare Conference. The event is set for June 5, 2024, at 2:30 p.m. ET. The live presentation will be available via webcast in the 'Investors' section of Schrödinger's website and will be archived for 90 days.
Schrödinger (Nasdaq: SDGR) announced on May 16, 2024, the granting of restricted stock units (RSUs) for 4,090 shares of its common stock to three new employees under the 2021 Inducement Equity Incentive Plan. These grants were approved by the compensation committee and serve as a material inducement for employment as per Nasdaq Listing Rule 5635(c)(4). The RSUs vest over four years, with 25% vesting after 12 months of continuous service and the remaining 75% vesting in equal installments over the subsequent three years. The grants are subject to the terms of award agreements and the company’s equity plan.
Schrödinger, Inc. (Nasdaq: SDGR) reported first-quarter 2024 financial results with total revenue of $36.6 million and software revenue of $33.4 million. The company announced FDA clearance of an IND application for SGR-3515, a Wee1/Myt1 Inhibitor. SGR-1505 and SGR-2921 Phase 1 data readouts are expected in late 2024 or 2025. Despite a decrease in total revenue from the first quarter of 2023, Schrödinger remains optimistic about the growing interest in computational drug discovery and revenue growth opportunities.
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