Richie Jain to succeed Geoffrey Porges as CFO
Schrödinger (NASDAQ:SDGR) today announced that the company and Geoffrey Porges, MBBS., have mutually agreed that Dr. Porges will depart from his role as chief financial officer to pursue other opportunities. Richie Jain, who previously served as Schrödinger's senior vice president, strategic finance and head of corporate and business development, will succeed Geoffrey Porges as chief financial officer. Dr. Porges will serve as an advisor to the company through June 6, 2025, to ensure a smooth transition.
"I want to thank Geoff for his commitment and service during his tenure. He strengthened the company's financial profile to support continued investments across our business and led the finance organization through important milestones. We wish him well in his future endeavors and look forward to his advice as we position the company for future success," stated Ramy Farid, Ph.D., chief executive officer at Schrödinger. "Richie has made significant contributions during his tenure, including working across the company to pursue strategic initiatives, and secure and expand strategic collaborations. His deep financial expertise and strong understanding of our business make him uniquely suited to lead our finance organization. We look forward to his continued leadership."
As chief financial officer, Mr. Jain will oversee the company's financial operations, strategic planning, investor relations, corporate development and business development transactions. Mr. Jain joined Schrödinger from Morgan Stanley where he held positions of increasing responsibility, most recently as a managing director in the healthcare investment banking and mergers & acquisitions departments. Prior to that, he was an electrical engineer at Boston Scientific's cardiac rhythm management business. Mr. Jain received a B.S. in electrical engineering from the University of Michigan and earned his M.B.A. from the University of Chicago Booth School of Business.
Schrödinger is reaffirming its financial expectations for the full year 2025, as well as its second quarter 2025 software revenue guidance, previously provided in its first quarter financial results press release and conference call on May 7, 2025.
About Schrödinger
Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger's software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs and is advancing three clinical-stage oncology programs. Founded in 1990, Schrödinger has over 800 employees operating from 15 locations globally. To learn more, visit www.schrodinger.com, follow us on LinkedIn and Instagram, or visit our blog, Extrapolations.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those statements regarding Schrödinger's expectations about the speed and capacity of its computational platform, the long-term potential of its business, and its financial outlook for the fiscal year ending December 31, 2025 and second quarter ending June 30, 2025. Statements including words such as "aim," "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "goal," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," "would" and statements in the future tense are forward-looking statements. These forward-looking statements reflect Schrödinger's current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the company and on assumptions the company has made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and important factors that are beyond Schrödinger's control, including the demand for its software platform, its ability to further develop its computational platform, its reliance upon third-party providers of cloud-based infrastructure to host its software solutions, its reliance upon its third-party drug discovery collaborators, the uncertainties inherent in drug development and commercialization, such as the conduct of research activities and the timing of and its ability to initiate and complete preclinical studies and clinical trials, whether results from preclinical studies will be predictive of the results of later preclinical studies and clinical trials, uncertainties associated with the regulatory review of IND submissions, clinical trials and applications for marketing approvals, the ability to retain and hire key personnel and other risks detailed under the caption "Risk Factors" and elsewhere in the company's Securities and Exchange Commission filings and reports, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the Securities and Exchange Commission on May 7, 2025, as well as future filings and reports by the company. Any forward-looking statements contained in this press release speak only as of the date hereof. Except as required by law, Schrödinger undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.
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Jaren Madden
Schrödinger, Inc.
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617-286-6264
Matthew Luchini (Investors)
Schrödinger, Inc.
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Allie Nicodemo (Media)
Schrödinger, Inc.
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