Take a look at the GPCR S1 which is very complex given the Chinese roots (ShoutTi) and the registration in the Cayman's. As near as I can tell, SDGR is entitled to some royalty's on GBSR-1290 (a normal business practice for SDGR on drugs they help develop).
Also I think SDGR has some options to buy GPCR stock at low prices and has some standing on the GPCR board. I really can't tell though because the S1 GPCR incorporation arrangement in the Caymans is so complex but my sense is that SDGR has more interest in GPCR beyond the actual shares they currently own. But I could be wrong as I don't follow GPCR or SDGR much anymore. SDGR may well be advancing today for the reason you previously cited.
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