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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 participation in a fireside chat at the Jefferies 13th Annual London Healthcare Conference on November 16, 2022, at 3:50 p.m. GMT (10:50 a.m. ET). The event aims to showcase Schrödinger's innovative physics-based computational platform that significantly enhances drug and material discovery. Interested parties can access the live discussion on the company's website, where it will also be archived for about seven days. Schrödinger operates globally with around 800 employees, focusing on unmet medical needs through its collaborative and proprietary programs.
Schrödinger, Inc. (SDGR) reported a 24% increase in total revenue for Q3 2022, reaching $37 million, driven by a 121% surge in drug discovery revenue. The company's software revenue remained stable at $24.7 million. However, operating expenses rose 38% to $63.4 million, resulting in a net loss of $39.9 million. Schrödinger has narrowed its full-year revenue guidance to $167 million to $175 million. Exciting developments include the opening of a Phase 1 trial for MALT1 inhibitor SGR-1505 and upcoming data presentations for CDC7 inhibitor SGR-2921 at the ASH meeting.
Schrödinger, Inc. (Nasdaq: SDGR) has announced the presentation of new preclinical data on its CDC7 inhibitor, SGR-2921, at the American Society of Hematology's 64th Annual Meeting in New Orleans from December 10-13, 2022. CDC7 is a cell cycle kinase crucial for DNA replication, and its inhibition serves as a promising approach for treating cancers like acute myeloid leukemia (AML). The company plans to initiate a Phase 1 trial of SGR-2921 for relapsed/refractory AML in the second half of 2023.
Schrödinger (Nasdaq: SDGR) will release its third quarter 2022 financial results on November 3, 2022, after market close, followed by a conference call at 4:30 p.m. ET. Participants can access the live webcast through the company’s investor website. Schrödinger is focused on transforming therapeutics and materials discovery via its physics-based computational platform, which speeds up molecule discovery for drug development and materials applications while reducing costs. Established in 1990, the company operates globally with over 700 employees.
Schrödinger (Nasdaq: SDGR) showcased its physics-based computational platform at its Platform Day on October 6, highlighting its role in drug discovery across 30 collaborations. Notably, a new collaboration with Lilly will yield an upfront payment and potential milestone payments totaling up to
Schrödinger (Nasdaq: SDGR) will host a hybrid Platform Day on October 6, 2022, at 10:00 AM ET in New York City. The event will showcase Schrödinger's physics-based computational technology and case studies from drug discovery collaborations. Attendance is limited for the investment community, but the presentation will also be available via a live webcast for individual investors and others. Registration is recommended at least 15 minutes before the event. For more details, visit Schrödinger's website.
Schrödinger (Nasdaq: SDGR) will present at Citi’s 17th Annual BioPharma Conference on September 7, 2022, at 10:30 a.m. ET. The management's discussion will be accessible via the company's website and archived for seven days. Known for its innovative physics-based software platform, Schrödinger enhances the discovery of therapeutics and materials, benefiting biopharmaceutical and industrial sectors globally. Founded in 1990, the company boasts over 700 employees and operates in more than 70 countries.
Schrödinger, Inc. (Nasdaq: SDGR) announced the grant of inducement equity awards to newly appointed CFO, Geoffrey Porges. The inducement grants include a stock option for 180,000 shares and performance-based restricted stock units for 90,000 shares. The stock option has an exercise price of $28.55 per share, reflecting the closing price on August 18, 2022. The option vests over four years while performance units depend on achieving specified performance goals. This move aligns with Nasdaq Listing Rule 5635(c)(4), emphasizing the company's strategy to attract top talent.
Schrödinger, Inc. (Nasdaq: SDGR) has appointed Geoffrey Porges as chief financial officer, bringing over 30 years of experience in the biopharmaceutical industry. He will oversee financial operations, investor relations, and corporate affairs as well as strategic planning for the company's pharmaceutical collaborations. Porges, previously at SVB Securities, expressed excitement about contributing to Schrödinger's growth, highlighting a strong balance sheet and revenue outlook. The company's physics-based software platform is revolutionizing drug discovery, enabling faster and cost-efficient therapeutic development.
Schrödinger, Inc. (Nasdaq: SDGR) reported a 38.5 million total revenue for Q2 2022, reflecting a 29% increase from the previous year. Software revenue reached 30.0 million with a 25% rise, while drug discovery revenue surged 48% to 8.5 million. Despite strong revenue growth, the company reported a net loss of 47.7 million, compared to 35.0 million in Q2 2021. Schrödinger is set to begin Phase 1 clinical trials for its MALT1 inhibitor, SGR-1505, in Q4 2022 and maintains a solid cash position of 513 million.
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