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        In its financial and business results for Q1 2023 (period ended 31 March 2023), New York-based AI drug discovery company Schr&ouml;dinger posted basic and diluted earnings per share of USD 1.8, beating analyst estimates of USD 1.28.&nbsp;
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        The company&rsquo;s revenue increased by 33% YoY to USD 64.8 million, with growth achieved across both its software products and services and drug discovery segments. The revenue contribution from the drug discovery segment increased from 32% in Q1 2022 to 50%, mainly due to a USD 25 million milestone payment from Bristol-Myers Squibb.
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        The company&rsquo;s clinical updates included 1) initiating a Phase I study of SGR-1505 for relapsed or refractory B-cell malignancies and 2) progressing IND-enabling studies in relation to SGR-2921, with IND submission expected in 1H 2023, and advancing SGR-3515 toward an IND submission in 2024.
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        For Q2 2023, Schr&ouml;dinger expects software revenue to range from USD 27 million to USD 31 million. As for the full-year 2023, the company expects to 1) grow software revenue between 13% to 17% and 2) achieve drug discovery revenue between USD 70 million to USD 90 million.
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    <a href="https://www.businesswire.com/news/home/20230504005223/en/">
      Company press release
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All Updates

Schrödinger beats analyst estimates in Q1 2023; records 33% YoY revenue growth