Overview

* Monte Rosa Q2 collaboration revenue rises significantly, driven by Novartis partnership

* Net loss for Q2 reduced compared to last year

* Strong cash position expected to fund operations into 2028

Outlook

* Company's cash position expected to fund operations into 2028

Result Drivers

* NOVARTIS PARTNERSHIP - Collaboration revenue boosted by Novartis $150 mln upfront payment

* R&D EXPENSES - Increased due to MRT-2359 study and QuEEN discovery engine development

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $23.19

Collabor mln

ation

Revenue

Q2 Net -$12.30

Income mln

Q2 $38.75

Operatin mln

g

Expenses

Q2 -$15.55

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Monte Rosa Therapeutics Inc ( GLUE ) is $17.00, about 74.4% above its August 6 closing price of $4.36

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)