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NEW YORK/CAMBRIDGE - Ajax Therapeutics, Inc. and Schrödinger, Inc. (NASDAQ:SDGR), a $1.56 billion market cap biotech company with robust revenue growth of 22% over the last twelve months, announced Thursday they are expanding their exclusive research collaboration to include a new Janus kinase (JAK) target, building on their partnership that began in 2019. According to InvestingPro analysis, Schrödinger maintains a strong financial position with a healthy current ratio of 3.45.
The companies have been working together to develop novel JAK inhibitors, combining Schrödinger’s computational platform with Ajax’s structural biology insights. Their lead candidate from the collaboration, AJ1-11095, is currently in Phase 1 clinical trials for myelofibrosis treatment. With analysts setting price targets between $26 and $39, InvestingPro subscribers can access detailed analysis and 6 additional key insights about Schrödinger’s growth potential.
Under the expanded agreement, the companies will jointly discover a development candidate for the new JAK target, with Ajax taking responsibility for clinical development and commercialization. Schrödinger will be eligible to receive discovery and development milestones, sales milestones, and single-digit royalties on net sales of any resulting products. The company’s strong cash position relative to debt, as highlighted by InvestingPro’s comprehensive research reports available for over 1,400 US stocks, positions it well for continued R&D investments.
The collaboration aims to develop inhibitors that could address both oncology indications and inflammatory and autoimmune disorders. The companies are focusing on creating more selective and potent JAK inhibitors than those currently available.
"Given our teams’ history of success in creating more selective and potent JAK2 inhibitors, we expect to take a similar approach to this new JAK target," said Martin Vogelbaum, chief executive officer of Ajax Therapeutics, in the press release.
Schrödinger, which co-founded Ajax and maintains an equity stake in the company, also participated in Ajax’s recent $95 million Series C financing completed in 2024.
AJ1-11095, the lead candidate from their collaboration, was designed to selectively bind the Type II conformation of the JAK2 kinase, potentially providing greater efficacy compared to currently approved JAK2 inhibitors that bind the Type I conformation.
In other recent news, Schrödinger reported software revenues of $49 million for the first quarter of 2025, surpassing its guidance range of $44-48 million. The company anticipates software revenue growth of 10-15% for the full year 2025, equating to around $203 million at the midpoint of guidance. Morgan Stanley has assumed coverage of Schrödinger with an Equalweight rating, lowering the price target from $31.00 to $28.00. The U.S. Food and Drug Administration has granted Fast Track designation to Schrödinger’s MALT1 inhibitor, SGR-1505, for adult patients with Waldenström macroglobulinemia. This designation allows for more frequent FDA communications and potential accelerated approval pathways. Schrödinger also announced the appointment of Richie Jain as the new Chief Financial Officer, succeeding Geoffrey Porges. Jain previously held positions at Morgan Stanley and Boston Scientific, bringing a wealth of experience to his new role. The company has reaffirmed its financial expectations for 2025, maintaining its revenue guidance for the second quarter.
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