Schrodinger, Inc. — Form 10-Q
Filed November 4, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
Schrodinger and Novartis amended their November 2024 Research Collaboration and License Agreement (effective September 14, 2026). Key changes: elimination of 'all-in' compensation structure; replacement of one collaboration target with 'New Target 1' (treating prior target as discontinued); addition of 'New Target 2' as new collaboration target; revised discovery, development, and sales milestone payment tables (dollar amounts redacted); and extended resource reallocation and wind-down procedures. Novartis retains unilateral replacement rights; specific payment amounts and target identities are heavily redacted.
Why this rating
Amendment modifies existing deal terms but most financial details are redacted. No new revenue or material dollar impact is transparently disclosed. Represents operational flexibility within an existing partnership, not a transformational change to company scale.
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