Monte Rosa reports Q3 net loss $23.9M; announces Novartis deal for VAV1 degraders with $150M upfront

Monte Rosa Therapeutics, Inc.

Net loss of $23.9M for Q3 2024; collaboration revenue of $9.2M from Roche.
Global license with Novartis for VAV1 MGDs: $150M upfront, up to $2.1B milestones, U.S. P&L share.
MRT-6160 Phase 1 SAD/MAD ongoing; initial safety and PD data expected by Q1 2025.
MRT-2359 Phase 1/2 in MYC-driven tumors; updated results and Phase 2 guidance by year-end 2024.
Cash $247.1M at Sept 30; plus $150M Novartis upfront extends runway into 2028.

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