That'd be great.Sure. Are you involved in their platform or drug discovery? But maybe Karen knows of -- has a different thought.Nothing direct, but I think everyone is aware that certain trials have been delayed.

We continually evaluate our drug discovery programs in order to focus on those with the best chance for success. And I seriously doubt that when this current crisis is over that somehow there'll be a shift in that. 0000034869 00000 n

We anticipate that we will record a gain in the third quarter commensurate with the approximately 422,000 shares owned by Schrodinger, and these will be mark-to-market each quarter. It has been talked about publicly in the media, but we don't have any specific information about the impact on customers' particular trial.Actually, I might add that the momentum in the quarter really was largely underpinned by continued increasing adoption of our solutions by some of our largest customers. Investing Basics Operator?Thank you. In some cases, we are experiencing variability in certain collaboration program timelines impacted by COVID-19 that could result in delays in reaching certain milestones and impact the timing of revenue in the second half of 2020.Turning to our internal programs. We are also excited because the alliance is using LiveDesign, our enterprise solution that enables full project management and interactive collaboration among discovery teams at numerous sites and across many traditionally siloed areas of research. In the second quarter, we continued to see strong momentum, recording $23.1 million in total revenue, an increase of 21% compared to the second quarter of 2019. Operating expenses were $30.7 million for the quarter, up 29% versus the same period of 2019, primarily reflecting the continued investment in research and development for the advancement of our technology platform and support of our internal drug discovery programs, several of which are now in late stage discovery.The growth relative to 2019 also reflects the increased costs associated with operating as a public company. 0000004232 00000 n Congrats on the quarter. 0000005564 00000 n 0000028479 00000 n Nice update there with the agreement with Gates Ventures. Our next-generation WEE1 inhibitors are highly selective, and we believe have the potential to be used in optimized dosing regimens.I'll round out the discussion of our internal programs with two more updates.

As part of the acquisition, we received $4.6 million in cash from our share of an upfront payment related to our equity stake in Petra. And are there any economics in that pipeline?There are economics. As part of our ongoing efforts to deepen our software solutions for materials science applications, we entered into a three-year agreement in June with Gates Ventures to develop and apply novel, accurate atomistic simulation methods to improve battery performance. 0000052346 00000 n Software sales could also be affected by the limited ability to engage with customers in person as the crisis continues.

0000018759 00000 n So that's what the collaboration is about is to fund basic research, and I think we have a pretty good track record of working on really hard problems and solving them.And so -- and then to answer your other question, yes, we -- the agreement allows for us to take that technology that we hopefully develop -- again, it's basic research. We believe that multi-targeted approaches will likely be necessary to achieve a durable therapeutic response in most cancers harboring mutant KRAS. It also includes the beginnings and early scientific works with 0000036571 00000 n 0000007134 00000 n Thank you.

One is to partner these with companies that already have existing assets in the pathway. Our plan for 2021 initiation of GLP tox studies in support of regulatory interactions, including pre-IND meetings with the FDA and IND filings are on track.Our picomolar CDC7 inhibitors show excellent potency in our biochemical assays and deeper growth inhibition responses in preclinical acute myeloid leukemia models, when compared to other known CDC7 inhibitors. That being said, through the first half of 2020, we have been pleased with the execution of our strategy to grow our customer base and increase adoption of our solutions, which resulted in 35% software revenue growth versus the first half of 2019.On the discovery side of our business, we achieved revenues of $2.2 million in the second quarter compared to $4.5 million in the same quarter last year. And last question on the Relay equity, is there a ongoing relationship with that company? Our next question comes from the line of Do Kim with BMO Capital Markets. And I'll just remind everybody that we under our hosting solutions really provide -- we host only access to our license. It doesn't make any sense, right? 0000006558 00000 n So I think the trends that we're seeing now of broader and broader adoption, and this idea that you really can, by deploying the technology on a large scale, really reduce the number of compounds that are made which significantly, of course, reduces the cost associated with getting to a development candidate, of course, reduces the time and really does result in higher-quality compounds. And we're not hearing anything about changes in plans on the development side.

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