When sell-side analyst Evan Seigerman was preparing to start covering the startup Schrödinger this spring, he rang up the $3.5 billion biotech’s chief financial officer, Geoffrey Porges, to get up to speed.
On the phone with Porges, Seigerman referred to Schrödinger as an AI company. Porges interrupted him: Schrödinger isn’t an AI company — it’s a proprietary software and drug company.
“In my view, that highlighted how they think about what they’re doing,” Seigerman, who tracks biopharma stocks at BMO Capital Markets, told Endpoints News. “They really want to be seen as a drug company that also has this software platform that delivers revenue.”
Geoffrey Porges As investor interest in AI has exploded this year, Schrödinger’s executives have gone on a hype-busting tour. Founded in 1990, the biotech has spent decades developing software to simulate atoms and molecules by using physics as well as machine-learning…
Click here to view original post
