Schrödinger Inc.'s stock $(SDGR)$ soared 9% early Tuesday, after the company said it has entered a multi-year collaboration agreement with Swiss pharma Novartis AG (CH:NOVN) $(NVS)$, under which it will receive a $150 million upfront payment and be eligible for up to about $2.3 billion in milestone payments and royalties. The New York based Schrödinger said it will advance multiple development candidates into Novartis's portfolio. The companies also have an expanded three-year software agreement that will increase access for Novartis to Schrödinger's computational predictive modeling technology and enterprise informatics platform. "This expanded access enables Novartis to deploy Schrödinger's full suite of drug discovery technologies at industry-leading scale across its research sites," the company said in a statement. Schrödinger's stock has fallen 45% in the year to date, while the S&P 500 has gained 25.8%.
-Ciara Linnane
For more from MarketWatch: http://www.marketwatch.com/newsviewer
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
November 12, 2024 06:55 ET (11:55 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。