As it cuts costs and pipeline, Bristol Myers hands back a cancer drug to Schrödinger

Bris­tol My­ers Squibb will give back a pre­clin­i­cal can­cer drug to Schrödinger, re­turn­ing the SOS1 in­hibitor that was part of a 2020 deal be­tween the com­pa­nies.

The move is part of a cost-cut­ting and pipeline trim­ming ini­tia­tive at Bris­tol My­ers, which is work­ing to re­set its op­er­a­tions un­der new CEO Chris Boern­er. Schrödinger an­nounced the news with its first-quar­ter earn­ings re­sults on Thurs­day.

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