Stock Alert: Schrödinger Slips 25%

(RTTNews) - Shares of Schrödinger, Inc. (SDGR) are losing nearly 25% on Thursday morning after the company reported fourth-quarter results.

SDGR is currently trading at $74.40, down $24.74 or 24.95%, on the Nasdaq.

Fourth-quarter loss was $11.1 million wider than last year's loss of $6.8 million.

Revenues for the quarter increased 28% to $33.0 million from last year. Software revenues increased 42% to $25.0 million. Drug discovery revenue was $8.1 million for the fourth quarter of 2020, compared to $8.3 million last year.

Schrödinger provides computational platform to accelerate drug discovery and materials design for biopharmaceutical and industrial companies, academic institutions, and government laboratories worldwide.