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Schrodinger Shares Surge 55% After IPO Priced Above High End of Range >SDGR 12:39 pm ET February 6, 2020 (Dow Jones) Print By Colin Kellaher
Shares of Schrodinger Inc. (SDGR) jumped more than 55% in their trading debut Thursday after the drug discovery software company's upsized initial public offering of 11.9 million shares was priced at $17 apiece, above the expected range.
Schrodinger shares recently were trading at $26.54, up about 56%, after opening at $26.
The New York company, whose investors include D.E. Shaw and the Bill & Melinda Gates Foundation, previously said it planned to sell 10 million shares at $14 to $16 each in the IPO.
The company has granted the underwriters an option to buy up to 1.78 million additional shares.
Schrodinger Inc is headquartered in New York City, New York, United States and is a software publisher. The company's key areas of interest are Computational Chemistry Software, Molecular Modeling, Dockings, Homology Modeling, Cheminformatics, Pharmacophore Modeling, Qsars, Computational Biology, Computer Chemistry, Quantum Chemistry, Software For Chemistry. The company was founded in 1995.