Schrodinger falls after ending blood cancer therapy development on patient deaths

Shares of drug developer Schrodinger SDGR.O slump 19.1% to $16.05 premarket

Company says it will stop the development of its experimental therapy, SGR-2921, for two types of blood cancer after it was considered to have contributed to two patient deaths in an early-stage study

"Patient safety is our first priority," SDGR's medical chief says. "While disappointing given the early clinical activity observed, we believe this is the right decision for patients"

Up to last close, shares up 2.9% YTD