Business
Schrödinger Reports Financial Results for the Fourth Quarter and Full Year 2021
Delivered Strong Fourth Quarter, with Software Revenue of $38.6 Million, a 55 Percent Increase over Fourth Quarter of 2020 Full Year 2021 Total Revenue of
About this update from Schrodinger, Inc.
[{"type":"text","content":"\nDelivered Strong Fourth Quarter, with Software Revenue of $38.6 Million, a 55 Percent Increase over Fourth Quarter of 2020\n\nFull Year 2021 Total Revenue of $137.9 Million, up 28 Percent Year-over-Year, with Full Year 2021 Software Revenue of $113.2 Million, up 22 Percent Year-over-Year\n\nProvides Financial Outlook for 2022 and Outlines Key Strategic Goals for 2022-2023\n\n NEW YORK--(BUSINESS WIRE)--\nSchrödinger, Inc. (Nasdaq: SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced financial results for the fourth quarter and full year ended December 31, 2021, and provided its financial outlook for 2022.\n\nSchrödinger also announced today the promotion of Karen Akinsanya, Ph.D., from executive vice president and chief biomedical scientist to president of R&D, therapeutics. The promotion reflects Dr. Akinsanya’s extraordinary contributions to leading Schrödinger’s drug discovery team, which leverages the company’s platform at scale, as well as her strategic contributions to expanding and advancing the company’s collaborative and wholly-owned programs.\n\n“We are very pleased to have delivered a strong year, capped by fourth quarter software revenue of $38.6 million, a 55 percent increase over the fourth quarter of 2020. Looking ahead, we expect continued scale up and adoption of our software platform as our collaborators and customers continue to experience success in rapidly generating high-quality molecules to advance the next generation of therapeutics and materials,” said Ramy Farid, Ph.D., chief executive officer of Schrödinger. “I’m also thrilled to announce Karen’s promotion today. Karen came to Schrödinger in 2018 with a vision to transform and accelerate drug discovery and has made incredible progress building a pipeline and a team that spans discovery to early clinical development.”\n\n“Our software platform is critical to our success in both our collaborative and internal drug discovery pipeline, and we are pleased to see multiple programs advance into preclinical and clinical development. This includes seven collaborative programs that have advanced into the clinic, which underscores the impact of our platform,” stated Dr. Akinsanya. “Our internal pipeline is also advancing, and later this year we expect to initiate our first Phase 1 clinic...