Why Schrodinger Stock Is Rising Today

Schrodinger (NASDAQ:SDGR) is starting the week on a strong note. The company's shares are up by 12.6% as of 11:44 a.m. EST on Monday. Investors are bidding up Schrodinger's stock today following the company's announcement that it has entered into a collaboration agreement with pharma giant Bristol Myers Squibb (NYSE:BMY). 

Schrodinger uses physics-based software to discover molecules for drug development. Today, the company announced that it has penned an agreement to discover and develop medicines across several disease areas in collaboration with Bristol Myers. Schrodinger will handle the discovery part; Bristol Myers will develop, manufacture, and commercialize the drug candidates.

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Source Fool.com