Schrodinger, Inc. - SDGR STOCK NEWS

Schrödinger, Inc. (Nasdaq: SDGR) has appointed Arun Oberoi to its Board of Directors, effective May 17, 2022. Mr. Oberoi, a former executive vice president at Red Hat, will also serve on the Audit Committee. His extensive experience in enterprise software is expected to support Schrödinger's growth and mission to enhance human health. Schrödinger specializes in a physics-based software platform that accelerates the discovery of therapeutics and materials, aiming to improve efficiency and reduce costs significantly compared to traditional methods.

Schrödinger (Nasdaq: SDGR) announced its participation in the Citi Biotech Virtual Co-Panel Day on May 18, 2022, at 10:00 a.m. ET. Karen Akinsanya, president of R&D, Therapeutics, will discuss Software, AI, and Bioinformatics in Drug Development. The panel will be accessible live via the investors section of Schrödinger’s website and will be archived for a week afterward. Schrödinger's innovative software platform significantly enhances the discovery of therapeutics and materials, supporting clients globally since its inception in 1990.

Schrödinger, Inc. (SDGR) reported a strong first quarter of 2022 with total revenue of $48.7 million, representing a 51% increase year-over-year. Software revenue reached $33.1 million, a 26% rise, driven by customer adoption. Gross profit was $28 million, a 73% increase, while the company recorded a net loss of $34.5 million. Schrödinger is on track with its pipeline, notably planning an IND submission for its MALT1 inhibitor, SGR-1505, in the first half of 2022. The company maintains its 2022 financial outlook, predicting total revenue of $161 million to $181 million.

Schrödinger (Nasdaq: SDGR) will report its Q1 2022 financial results on May 4, 2022, after market close. The company will host a conference call at 4:30 p.m. ET to discuss the results. Schrödinger uses a physics-based software platform for drug and materials discovery, leading to rapid and cost-effective development. Founded in 1990, it collaborates with global biopharmaceutical and industrial firms, academic institutions, and government labs, employing over 650 staff across 70 countries.

Schrödinger, Inc. (Nasdaq: SDGR) has granted stock options for 101,715 shares to 30 newly hired employees as an incentive for their employment acceptance. The options were issued under the company’s 2021 Inducement Equity Incentive Plan with an exercise price of $29.82, equal to the closing stock price on April 15, 2022. The vesting period is structured, with U.S. employees vesting monthly over four years, while employees in India and Japan will vest annually over three years. This move aims to enhance talent acquisition and retention as Schrödinger continues to innovate in drug discovery.

Schrödinger, Inc. (Nasdaq: SDGR) presented promising preclinical data on its Wee1 inhibitors at the AACR Annual Meeting. These inhibitors demonstrate strong anti-tumor activity and potential for monotherapy and combination therapy. The company plans to identify a Wee1 development candidate by 2022 and submit an IND application to the FDA in 2023. The study highlighted a compound, STC-8123, showing high selectivity and sustained anti-tumor effects without significant side effects, indicating a favorable dosing regimen.

Schrödinger, Inc. (Nasdaq: SDGR) announced the granting of non-statutory stock options for 42,425 shares to 17 new employees on March 15, 2022. This grant, part of the 2021 Inducement Equity Incentive Plan, serves as an inducement for employment acceptance, compliant with Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $28.81 per share, equal to the closing price on the grant date. Options vest over four years, with different vesting schedules for U.S. and India-based hires.

Schrödinger is focused on enhancing drug discovery through its physics-based software platform.

Schrödinger, Inc. (Nasdaq: SDGR) announced promising preclinical data on its small-molecule Wee1 inhibitors, to be presented at the AACR Annual Meeting in New Orleans (April 8-13, 2022). These inhibitors may induce apoptosis in tumor cells by triggering DNA damage. Early studies show significant anti-tumor activity in ovarian and uterine cancers. Schrödinger plans to select a development candidate later this year, with an emphasis on strong pharmacodynamics and potential use as monotherapy or in combination therapy.

Schrödinger (Nasdaq: SDGR) announced its participation in the Truist Securities Life Sciences AI Symposium on March 1, 2022. Karen Akinsanya, Ph.D., will join a panel discussing technology-enabled drug discovery at 10:10 a.m. ET. An on-demand workshop titled “Transforming Molecular Design of Novel Drug,” hosted by Ramy Farid, Ph.D., will also be available. Access details for the panel and workshop can be found in the investors section of Schrödinger's website. Founded in 1990, Schrödinger employs over 650 individuals and focuses on innovative drug discovery through its physics-based software platform.