secwatch.observer — SEC 8-K summary
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Issuer:     Schrodinger, Inc. (SDGR)
CIK:        0001490978
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001490978-24-000087
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Schrödinger enters $2.272B collaboration with Novartis; $150M upfront
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- Upfront payment of $150 million to be paid after HSR waiting period expires.
- Eligible for up to $892M in discovery/development milestones and $1.38B in commercial milestones across initial project plans.
- Eligible for tiered royalties on net sales of collaboration products: mid-single-digit to low-double-digit percent, subject to reductions.
- Research term for each project plan is generally four years; Novartis responsible for clinical development and commercialization.
- Exclusivity provisions prevent Schrödinger from working on collaboration targets with third parties for specified period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1490978/000149097824000087/0001490978-24-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1490978/000149097824000087/sdgr-20241111.htm
  HTML page:      https://secwatch.observer/filing/0001490978-24-000087

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer