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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 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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