This Biotech Stock Has Doubled Its Value Today—Here's Why [Yahoo! Finance]
Monte Rosa Therapeutics, Inc. (GLUE)
Company Research
Source: Yahoo! Finance
The agreement is for Monte Rosa's MRT-6160 drug and other potential treatments for immune system diseases. Shares of Monte Rosa more than doubled on the news. Shares of Monte Rosa Therapeutics ( GLUE ) more than doubled Monday after the biotechnology company struck an exclusive development and commercialization license agreement with Novartis ( NVS ) for its treatments for immune system diseases that could be worth more than $2 billion. The company said that Novartis will pay $150 million up front for exclusive worldwide rights to develop, manufacture, and commercialize its molecular glue degrader (MGD) drug, MRT-6160, currently in a Phase 1 trial , as well as other MGDs. Monte Rosa explained that it could then receive up to $2.1 billion in "development, regulatory, and sales milestones, beginning upon initiation of Phase 2 studies, as well as tiered royalties on ex-U.S. net sales." Novartis will be responsible for all clinical development and commercialization, starting with
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GLUE
News
- Monte Rosa Therapeutics Provides Corporate Update and Key Anticipated Milestones for 2025GlobeNewswire
- Monte Rosa Therapeutics to Present at the 43rd Annual J.P. Morgan Healthcare ConferenceGlobeNewswire
- Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE) was downgraded by analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating. They now have a $11.00 price target on the stock, down previously from $14.00.MarketBeat
- Monte Rosa Therapeutics Appoints Dr. Eric A. Hughes to Board of Directors [Yahoo! Finance]Yahoo! Finance
- Monte Rosa Therapeutics Appoints Dr. Eric A. Hughes to Board of DirectorsGlobeNewswire
GLUE
Earnings
- 8/8/24 - Beat
GLUE
Sec Filings
- 1/10/25 - Form 8-K
- 1/6/25 - Form 4
- 1/6/25 - Form 4
- GLUE's page on the SEC website