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Schrodinger, Inc. (SDGR) combines cutting-edge computational physics with life sciences innovation to transform drug discovery and materials development. This dedicated news hub provides investors and researchers with essential updates about the company's scientific advancements and strategic initiatives.
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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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