Schrodinger Inc (SDGR)

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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.