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Monte Rosa Therapeutics

GLUE Rare disease Lead: Phase 2 5 Biotech Distilled articles ↓ 23 filings & releases ↓ Cash $45.2M (Sep 30, 2026) ↓ 5 verdicts ↓ 5 timing quotes ↓
CardiovascularDermatologyImmunologyMetabolicOncology Small Molecule

Market cap $903M 85.5M shares (10-Q, Oct 30, 2026) × $10.57 close Nov 6, 2026

Most recent annual filing: 2026-03-17

Catalyst timeline

8 trackedQuarter catalyst calendar →
  1. MRT-6160 Ph2 start2026MRT-6160 Ph2 start, 2026, routine
  2. MRT-8102 GFORCE-3 Ph2 start4Q 2026MRT-8102 GFORCE-3 Ph2 start, 4Q 2026, notable
  3. MRT-9347 IND filing4Q 2026MRT-9347 IND filing, 4Q 2026, notable
  4. MRT-8102 GFORCE-2 Ph2 start1H 2027MRT-8102 GFORCE-2 Ph2 start, 1H 2027, notable
  5. next-generation NEK7 MGD and CCNE12027next-generation NEK7 MGD and CCNE1, 2027, notable
  6. second-generation NEK7 MGD IND filing2027second-generation NEK7 MGD IND filing, 2027, notable
  7. CCNE1 MGD IND filing2027CCNE1 MGD IND filing, 2027, notable
  8. CCNE1 IND filing2027CCNE1 IND filing, 2027, notable

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (7 active programs)

Technology platforms

QuEEN

Quantitative and Engineered Elimination of Neosubstrates — AI/ML-enabled, target-centric molecular glue degrader discovery engine combining geometric deep learning for protein surface characterization, high-throughput screening, structural biology, and proprietary MGD library of 75,000+ compounds. Focused on immunology, inflammation, cardiovascular, oncology, and CNS diseases.

Roche Collaboration Platform · Roche

Strategic collaboration with Roche to identify and develop MGDs against cancer and neurological disease targets using Monte Rosa's QuEEN discovery platform. Monte Rosa leads preclinical discovery; Roche gains exclusive rights for further development upon defined handoff criteria.

Novartis I&I Collaboration Platform · Novartis

Collaboration, option, and license agreement with Novartis for discovery and development of degraders targeting immunology and inflammation programs. Monte Rosa applies QuEEN engine for one licensed I&I program and two optioned preclinical I&I programs; Novartis responsible for development and commercialization.

QuEEN · Novartis

AI/ML-enabled QuEEN engine for the discovery and development of molecular glue degraders (MGDs); focus areas include immunology and inflammation

Capital (as filed)

Cash
$45.2M cash and cash equivalents · Sep 30, 2026 (10-Q)
Operating cash flow
−$41.0M quarter Jun 30, 2026 → Sep 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$626M cash, runway 2029 per the update of Oct 28, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (5)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (5 calls)

Every verdict Biotech Distilled has published on Monte Rosa Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-04-14 Buy core Monte Rosa Therapeutics (GLUE) - Scientific Deep Dive for MRT-2359, MRT-8102, and Pipeline Products Cash-rich platform biotech with Big Pharma validation and runway into 2029 makes it a compelling long-term accumulation play while Phase 2 data resolves.
  2. 2026-08-07 Buy core UPDATE: Monte Rosa Therapeutics (GLUE) - Novartis Pushes the Button Novartis activating Phase 2 for MRT-6160 retires the key sell trigger, GFORCE-1 enrollment is complete, and the fortified balance sheet with no ATM usage supports continued accumulation.
  3. 2026-09-09 Buy core UPDATE: Monte Rosa Therapeutics (GLUE) - The $50 Million Number A $50M non-dilutive Novartis milestone payment on Sjögren's Phase 2 initiation further de-risks the balance sheet while the sell trigger remains retired; GFORCE-1 calprotectin readout remains the key gate.
  4. 2026-10-01 Buy core UPDATE: Monte Rosa Therapeutics (GLUE) - The Calprotectin Number Calprotectin fell 56% confirming upstream mechanism differentiation, but tolerability worsens at higher doses and GFORCE-2 slipped to H1 2027; weakness may be an accumulation window for long-term holders.
  5. 2026-10-29 Buy core UPDATE: Monte Rosa Therapeutics (GLUE) - Rung Two: $37.5 Million A second Novartis Phase 2 milestone ($37.5M, $87.5M total) in psoriatic arthritis further validates the partnered program and extends runway while the stock trades down 24% from September levels.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (5 quotes from 3 filings)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (23)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Aug 6, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

9 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)