Schrödinger Shares Fall After Job Cuts, CFO Exit

Dow Jones

May 21, 2025

By Roshan Fernandez

Shares of Schrödinger dipped after the company disclosed job cuts and said its chief financial officer would be departing.

Shares were down 8.2% to $21.63 during Tuesday's trading, though shares are up about 12% year to date.

Schrödinger, which makes software for drug development and materials design, said Tuesday that its chief financial officer, Geoffrey Porges, was leaving by mutual agreement. Richie Jain, the senior vice president of strategic finance and head of corporate and business development, will succeed Porges as CFO, the company said.

New York-based Schrödinger said Monday that it plans to cut about 60 employees, or 7% of its full-time workforce. The cuts and other cost reductions are part of a broader effort that will trim annualized operating expenses by about $30 million.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

May 20, 2025 14:57 ET (18:57 GMT)

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Richie Jain, the senior vice president of strategic finance and head of corporate and business development, will succeed Porges as CFO, the company said. \n\n\n  New York-based Schrödinger said Monday that it plans to cut about 60 employees, or 7% of its full-time workforce. The cuts and other cost reductions are part of a broader effort that will trim annualized operating expenses by about $30 million. \n\n\n \n\n\n  Write to Roshan Fernandez at roshan.fernandez@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 20, 2025 14:57 ET (18:57 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}