Schrodinger Inc
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Health Care : Health Care Technology | Small Cap Blend
Company profile

Schrodinger, Inc. has developed a physics-based software platform, which enables discovery of molecules for drug development and materials applications. The software platform is used by biopharmaceutical and industrial companies, academic institutions and government laboratories around the world. The Company also leverages its software platform to advance collaborative programs and its own pipeline of therapeutics to address unmet medical needs. The Company operates through two segments: software and drug discovery. The software segment is focused on selling its software to transform drug discovery across the life sciences industry, as well as to customers in materials science industries. The drug discovery segment is focused on building a portfolio of preclinical and clinical programs, internally and through collaborations, which has advanced to various stages of discovery and development. The Company’s pipeline of drug discovery programs include MALT1, CDC7, Wee1, and SOS1/KRAS.

Postmarket

Last Trade
Delayed
$26.45
0.32 (1.22%)
Bid
--
Ask
--
B/A Size
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Market Hours

Closing Price
$26.13
Day's Change
-1.48 (-5.36%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
27.51
Day's Low
25.87
Volume
(Heavy Day)
Volume:
801,800

10-day average volume:
561,384
801,800

Schrodinger Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

8:30 am ET November 18, 2022 (BusinessWire) Print

Schrodinger, Inc. (Nasdaq: SDGR), whose physics-based computational platform is transforming the way therapeutics and materials are discovered, today reported that on November 15, 2022, the company granted non-statutory stock options to purchase an aggregate of 32,165 shares of the company's common stock to eight newly hired employees, including two newly hired employees based outside of the United States. These grants were made pursuant to the company's 2021 Inducement Equity Incentive Plan, were approved by the compensation committee of the board of directors pursuant to a delegation by the company's board of directors, and were made as a material inducement to such employees' acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The stock options have an exercise price of $22.27 per share, equal to the closing price of Schrodinger's common stock on November 15, 2022. Each stock option has a ten-year term and vests over four years, with 25 percent of the shares underlying the option vesting when the employee completes 12 months of continuous service measured from the employment start date and the balance of the shares vesting as follows: (i) for U.S.-based new hires, in a series of successive equal monthly installments of 1/48 of the original number of shares upon the employee's completion of each additional month of service over the 36-month period following the first anniversary of the employment start date; and (ii) for new hires based outside of the United States, in a series of successive equal annual installments of 1/4 of the original number of shares upon the employee's completion of each additional year of service over the three-year period following the first anniversary of the employment start date. The inducement grants are subject to the terms and conditions of award agreements covering the grants and the company's 2021 Inducement Equity Incentive Plan.

About Schrodinger

Schrodinger is transforming the way therapeutics and materials are discovered. Schrodinger has pioneered a physics-based computational platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The computational platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrodinger's multidisciplinary drug discovery team also leverages the software platform to advance collaborative and proprietary programs to address unmet medical needs.

Founded in 1990, Schrodinger has approximately 800 employees and is engaged with customers and collaborators in more than 70 countries. To learn more, visit www.schrodinger.com, follow us on LinkedIn or visit our blog, Extrapolations.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221118005034/en/

SOURCE: Schrodinger

Investor Contact: 
Jaren Madden
ir@schrodinger.com
comtex tracking

COMTEX_419187473/1006/2022-11-18T08:30:00

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