Benzinga | Nov 23, 2020 11:36AM EST

Why Schrodinger's Stock Is Trading Higher Today

Schrodinger (NASDAQ:SDGR) shares are trading higher on Monday after the company announced a collaboration with Bristol Myers Squibb in which Schrodinger will receive a $55 million upfront payment.

Schrodinger is a healthcare-based software company. Its operating segments are Software and Drug discovery. Through the Software segment, the company is focused on selling software to transform drug discovery across the life sciences industry and customers in materials science industries.

Schrodinger shares are trading up 12.49% at $68.17 at time of publication on Monday. The stock has a 52-week high of $99.50 and a 52-week low of $25.50.