Schrodinger's SGR-1505 Receives Fast Track Designation From US FDA

(RTTNews) - Schrodinger, Inc. (SDGR), Friday announced that the U.S. Food and Drug Administration has assigned a Fast Track Designation for SGR-1505, a clinical stage MALT1 inhibitor, for the treatment of adult patients with Waldenstrom macroglobulinemia that have failed at least two lines of therapy, including a Bruton's tyrosine kinase inhibitor.

Currently, SGR-1505 is being evaluated in a Phase 1 clinical study as a treatment for patients with relapsed/refractory B-cell malignancies.

The company expects to discuss Phase 1 study findings and recommended Phase 2 dose with the FDA later this year.

In the pre-market hours, SDGR is trading at $20.84, up 1.70 percent on the Nasdaq.