Shooting for $100M IPO, Schrödinger takes the wraps off its five internal drugs and discloses deal details
Just before last year’s JP Morgan confab kicked off, Schrödinger unveiled its first venture round featuring institutional investors before later closing the Series E at $110 million. This time around, the computational drug discovery experts are inserting themselves into the queue at the Nasdaq, gunning for a $100 million IPO.
Having honed its software expertise and built out its client base over three decades, Schrödinger boasts of a revenue stream that totaled $66.6 million in 2018. But as it devotes more of its attention to its internal pipeline, the New York company said it wanted to increase their capitalization and financial flexibility by entering the public market. There’s also a hint of M&A plans to come.
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