Schrodinger (SDGR) IPO Opens 53% Higher

Today's IPO for Schrodinger Inc. (NASDAQ: SDGR) opened for trading at $26 after pricing 11,882,352 shares of common stock at a public offering price of $17 per share.

Morgan Stanley, BofA Securities, Jefferies LLC and BMO Capital Markets Corp. are acting as joint book-running managers for the offering.

Schrödinger’s industry-leading computational platform to accelerate drug discovery and materials design is deployed by leading biopharmaceutical and industrial companies, academic institutions and government laboratories worldwide. Schrödinger is also applying its computational platform to a robust pipeline of drug discovery programs in collaboration with pharmaceutical companies and has co-founded leading biotech companies, including Nimbus Therapeutics. In addition, Schrödinger is using its platform to advance a pipeline of internal, wholly-owned drug discovery programs.

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