Why Is Schrödinger Stock Tumbling Today?
Portfolio Pulse from Vandana Singh
Schrödinger Inc's Q2 financial results show an adjusted EPS loss of $(0.79), higher than the previous year and missing consensus. Sales decreased by 8.5% to $35.19 million, beating consensus. Drug discovery revenue and software revenue also decreased. Zai Lab Limited has decided not to advance their discovery collaboration with Schrödinger. The company's 2023 drug discovery revenue is now expected to be $50 million-$70 million, down from the prior expectation of $70 million-$90 million. SDGR shares are down 22.40% at $38.96.
August 04, 2023 | 2:15 pm
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NEGATIVE IMPACT
Schrödinger's Q2 results show higher losses and decreased revenues. Zai Lab ends collaboration. Shares are down 22.40%.
Schrödinger's Q2 results missed consensus with higher losses and decreased revenues. The end of the collaboration with Zai Lab and the downward revision of the 2023 drug discovery revenue forecast are likely to negatively impact the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Zai Lab has decided not to advance their discovery collaboration with Schrödinger.
Zai Lab's decision to end the collaboration with Schrödinger may have implications for its own projects and partnerships, but the direct impact on its stock price is uncertain without more information.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50