SDGR

Schrödinger Inc

research_scan theme='biotech-genomics'; value_chain_position='picks-and-shovels'; Physics-based + ML drug-discovery software with recurring license revenue (the only durable AI-DD subscription line in the public-market cohort) plus in-house pipeline (SGR-1505 MALT1, SGR-2921 CDC7, SGR-3515 Wee1/Myt1) for optionality. Software ARR is the cleanest counter-test to the C-04 'AI-service gross margin holds above 60% at two or more hyperscalers' falsification criterion at the platform layer.