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SCHRÖDINGER . Schrödinger Reports Second Quarter 2021 Financial Results and Provides Company Update August 12 , 2021 Second Quarter Total Revenue of $ 29.8 Million , Up 29 Percent Year - Over - Year ; Software Revenue of $ 24.1 Million , Up 15 Percent Year - Over - Year ; Company Maintains Full - Year 2021 Financial Outlook New Drug Discovery , Co - Development and Co - Commercialization Oncology Collaboration with Zai Lab Internal Pipeline Progressing with Plans to Submit Up to Three Investigational New Drug Applications to the FDA in 2022 NEW YORK -- ( BUSINESS WIRE ) -- Aug . 12 , 2021-- Schrödinger . Inc. ( Nasdaq : SDGR ) , whose physics - based software platform is transforming the way therapeutics and materials are discovered , today announced financial results for the quarter ended June 30 , 2021 , and provided an update on the company . " The second quarter was highly productive for Schrödinger . We continued to make progress on our key strategic priorities , including our investments to advance our internal drug discovery pipeline and drive adoption of our software , " stated Ramy Farid , Ph.D. , chief executive officer at Schrödinger . " We announced a collaboration on a new program with Zai Lab , which expands our pipeline and provides the option to co - develop and co - commercialize in collaboration with an established commercial leader in oncology . We look forward to sharing additional updates on our progress throughout the year , and remain committed to making strategic investments in our business to drive long - term growth of the company . " Recent Business Highlights Continued pipeline progress • During the second quarter , Schrödinger continued to advance its MALT1 , CDC7 and Wee1 preclinical development programs . The company has initiated IND - enabling studies for its MALT1 program , and CDC7 and Wee1 continue to advance toward IND - enabling studies . Subject to completion of the preclinical data packages , the company expects to submit up to three IND applications in 2022 , with the first submission to the FDA expected in the first half of next year . Schrödinger expects to present preclinical data from at least one of its internal programs in the second half of 2021 . • The company continued to advance discovery efforts to allow the addition of new programs to the company's internal pipeline in 2021 . Collaborations highlight continued strategic execution • In August , Schrödinger and Zai Lab Limited announced a global discovery , development and commercialization collaboration focused on a novel DNA damage response program in oncology . The research program will be conducted jointly by the Schrödinger and Zai Lab scientific teams . Following the selection of a development candidate , Zai Lab will assume primary responsibility for global development , manufacturing and commercialization . Schrödinger has the option to equally fund clinical development in the U.S. with Zai Lab , as well as the option to co - commercialize in the U.S. The companies will share research expenses for the program , and Zai Lab will make an upfront payment to Schrödinger to help fund Schrödinger's share of research costs . If Schrödinger elects to co - fund clinical development of a product candidate under the collaboration , it will be entitled to 50 percent of any profits from the commercialization of such product candidate in the U.S. Schrödinger will also be eligible to receive up to approximately $ 338 million in preclinical , development , regulatory and sales - based milestone payments . Additionally , Schrödinger is entitled to receive royalties on net sales outside the U.S.