Monte Rosa names first development candidate MRT-2359 targeting GSPT1; Q3 net loss $19.8M

Monte Rosa Therapeutics, Inc.

Selected MRT-2359 as first development candidate; initiated IND-enabling studies for mid-2022 IND submission.
Q3 2021 net loss $19.8M vs $6.6M in Q3 2020; R&D expenses $15.1M up from $5.5M.
Cash and equivalents $367M as of Sept 30, 2021, expected to fund operations into late 2024.
Presented preclinical data on GSPT1 degraders for Myc-driven cancers at AACR-NCI-EORTC.
NEK7 program in lead optimization; expect at least one more program to enter lead optimization in 2021.

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