08:35 AM EDT, 06/27/2025 (MT Newswires) -- Schrodinger (SDGR) said Friday the US Food and Drug Administration has granted fast track designation to SGR-1505 for treating relapsed or refractory Waldenstrom macroglobulinemia, a rare form of blood cancer.

The treatment targets adult patients who have failed at least two prior therapies, including a Bruton's tyrosine kinase inhibitor, the company said.

SGR-1505 is in a phase 1 study and has shown early signs of efficacy in several B-cell cancers, including Waldenstrom macroglobulinemia, Schrodinger said.

Schrodinger also said it plans to discuss phase 1 results and a proposed phase 2 dose with the FDA later this year.

Shares of the company were up over 2.7% in recent Friday premarket activity.