Schrodinger, Inc.

Thank you for standing by. Welcome to Schrodinger's conference call to review the company's first quarter financial results. My name is Kevin, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you need to press star 1 on your telephone. If you require any further assistance, please press star then 0. Please be advised that this call is being recorded at the company's request Now, I would like to introduce your host for today's conference call, Jared Madden, Senior Vice President of Investor Relations and Corporate Communications. Please go ahead.

Thank you, and hello, everyone. Welcome to today's call, during which we provide an update on the company and review our financial results for the first quarter of 2021. Earlier this morning, we issued a press release summarizing our financial results and progress across the company, which is available on our website at www.schrodinger.com. Here with me on our call today are Rami Fareed, President and Chief Executive Officer, Karen Akinsanya, Executive Vice President, Chief Biomedical Scientist and Head of Discovery R&D, and Joel Lebowitz, Executive Vice President and Chief Financial Officer. Following our prepared remarks, we'll open the call for Q&A. I'd like to remind you that during today's call, management will make statements related to our business that are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including without limitation statements related to our future financial performance, including our outlook for the year 2021, the potential advantages of our platform, our strategic plans to accelerate the growth of our software business and advance our collaborative and internal drug discovery programs, risks relating to the COVID-19 pandemic, our expectations related to the use of our cash, cash equivalents, marketable securities, as well as our other future operating expenses. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. Actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks, and factors that are beyond our control, including the demand for our software solutions, our ability to further develop our computational platform, our reliance upon our drug discovery collaborators, and other risks detailed under the caption risk factors, and elsewhere in our most recent Securities and Exchange Commission filings and reports. Except as required by law, We undertake no duty or obligation to update any forward-looking statements discussed on this call as a result of new information, future events, changes in expectations, or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to today. And with that, I'd like to turn the call over to Rami.

Thanks, Sharon, and thank you everyone for joining us today. At Schrodinger, we have developed a computational platform that is transforming the way therapeutics and materials are discovered. The platform is enabling our customers and our internal drug discovery team to discover high-quality molecules for drug development and materials applications faster, at lower cost, and with, we believe, a higher probability of success compared to traditional methods. We license our platform to pharmaceutical, biotech, and materials companies and universities and government labs worldwide. We are also leveraging our platform and a number of drug discovery programs in collaboration with pharmaceutical and biotech companies. And we are advancing an internal drug discovery pipeline, which Karen will review shortly. As we look out at the next decade, we believe that increasing speed of computing, expanding access to high-resolution three-dimensional protein structures, coupled with our platform's ability to predict molecular properties with a high degree of accuracy, will allow us to broadly explore even greater chemical space and ultimately enable us to identify novel, high-quality development candidates for a broad range of targets within as little as one year from program launch. Beyond the progress we are making across our internal drug discovery pipeline, we are continuing to see exciting examples of the power of our platform and the potential for continued scale-up by the industry. In March, our collaborative Morphic Therapeutic reported promising clinical results from one of their integrin programs for the treatment of inflammatory bowel disease. We also recently expanded our collaboration with AstraZeneca to fully deploy our platform across all their structurally enabled discovery programs. We are making continued investments in the science underlying our platform to maintain our leadership position in physics-based computation and machine learning, with a focus on increasing accuracy of the predictions and expanding the domain of applicability, to wider range of therapeutic targets and industrial applications. We also continue to look for opportunities to make supercomputing even more accessible for our customers. Last month, we established a strategic collaboration with Nvidia to further optimize our platform for one of Nvidia's key enterprise systems designed to enable companies to reach supercomputing power. As you'll hear shortly from Joel, we are in a strong financial position, ending the quarter with cash resources of $649 million. This allows us to continue to invest in our science, invest in growing our software business, advance our internal pipeline, and add new talent to support our strategic initiatives. We're excited by the progress we've made so far this year across all aspects of our business. We are continuing to navigate the challenges of COVID-19 and are planning for a return to several of our offices in the fourth quarter. We appreciate the dedication of all our employees, and we are optimistic about the ability to return to working together in person again. I'll now turn the call over to Karen for an update on our drug discovery programs.