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
- NLRP3 Protein Inhibitors Clinical Trial Pipeline Appears Robust With 20+ Key Pharma Companies Actively Working in the Therapeutics Segment | DelveInsight | DelveInsight [Yahoo! Finance]Yahoo! Finance
- Monte Rosa Therapeutics to Participate in the Jefferies London Healthcare ConferenceGlobeNewswire
- Owning 47% shares,institutional owners seem interested in Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE), [Yahoo! Finance]Yahoo! Finance
- Monte Rosa Therapeutics (GLUE) Reports Q3 Loss, Tops Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Monte Rosa Therapeutics Announces Third Quarter 2024 Financial Results and Provides Corporate UpdateGlobeNewswire
GLUE
Earnings
- 8/8/24 - Beat
GLUE
Sec Filings
- 11/14/24 - Form SC
- 11/12/24 - Form SC
- 11/7/24 - Form 10-Q
- GLUE's page on the SEC website