SDGR Stock — Schrodinger Inc.: Cash, EV, Pipeline

What they do

We are transforming the way therapeutics and materials are discovered. Our differentiated, physics-based computational platform enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at a lower cost, compared to traditional methods.

Source: 10-K FY2025 via SEC EDGAR

Share price

$29.82

Market cap

$2,238.8M

Cash

$366.4M

Enterprise value

$1,872.4M

Balance sheet

Cash	$366.4M
Debt	$0.0M
Net cash	$366.4M
Enterprise value	$1,872.4M
Basic shares	74.8M shares
Fully diluted shares	74.8M shares
Fully diluted market cap	$2,230.7M
Cash per share	$4.90
Quarterly burn	$34.1M
Cash runway	12.1 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

74.8M

Pre-funded warrants

0.0M

Options

—

RSUs

—

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

74.8M

Cap table as of 2026-02-18.

Price history

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Upcoming catalysts

No upcoming catalysts on file for this company.

Full readout calendar →

Pipeline assets

SGR-1505

Phase 1 · Active Modality: small molecule (MALT1 inhibitor)

Target MALT1

Partnerships Company exploring strategic partnerships to advance development beyond the ongoing Phase 1 trials. FDA orphan drug designations for mantle cell lymphoma (Aug 2023) and Waldenström macroglobulinemia (Oct 2025); fast track designation for WM patients who failed ≥2 lines including a BTK inhibitor (Jun 2025).

Indications

Relapsed or refractory B-cell malignancies (incl. mantle cell lymphoma, Waldenström macroglobulinemia) (Phase 1)

Catalysts

— 2H 2026

Status note Novel oral MALT1 inhibitor. Phase 1 dose-escalation trial in patients with relapsed or refractory B-cell malignancies (up to 98 patients, U.S./Europe) ongoing; a Phase 1 healthy-volunteer trial (73 subjects) completed.

SGR-3515

Phase 1 · Active Modality: small molecule (Wee1/Myt1 inhibitor)

Target Wee1/Myt1

Partnerships Company exploring strategic partnerships to advance development beyond the ongoing Phase 1 trial.

Indications

Advanced solid tumors (Phase 1)

Catalysts

— Q2 2026

Status note Novel Wee1/Myt1 inhibitor for solid tumors, selected via the company's computational platform. Phase 1 dose-escalation trial in patients with advanced solid tumors ongoing.

BMS collaboration programs

Stage not disclosed · Active Modality: small molecule (discovery collaboration)

Partnerships Exclusive worldwide collaboration and license with Bristol-Myers Squibb (Nov 2020, amended Dec 2022); BMS eligible programs reduced to one remaining neurology target; up to $482M total milestones ($257M research/development/regulatory + $225M commercial), mid-single to low-double digit royalties.

Indications

Neurology (one target remaining) (Stage not disclosed)

Status note Drug discovery collaboration for small molecule compounds in oncology, neurology and immunology; as of Jun 30, 2026 only one neurology target remains active. Phase not disclosed in the excerpts.

Novartis collaboration programs

Stage not disclosed · Active Modality: small molecule (discovery collaboration)

Partnerships Research collaboration and license with Novartis Pharma AG (Nov 2024) plus expanded three-year software agreement; $150M upfront; up to $2.272B total milestones ($892M discovery/development + $1.38B commercial), mid-single to low-double digit royalties; Novartis solely responsible for development/manufacturing/commercialization of identified candidates.

Indications

Multiple therapeutic areas (Stage not disclosed)

Status note Discovery, research and preclinical development collaboration for small molecule compounds across specified therapeutic areas. Phase not disclosed in the excerpts.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	0	-101,500	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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SDGR — Schrodinger Inc. ☆

What they do

Balance sheet

Share structure

Price history

Upcoming catalysts

Pipeline assets

Specialist fund holders

Latest news

SDGR — Schrodinger Inc.