CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Monte Rosa Therapeutics Q3 collaboration revenue jumps on Novartis milestone payment

By Reuters News


Overview

  • Biotechnology firm's Q3 collaboration revenue rose sharply, driven by Novartis milestone payments

  • Company posted Q3 net profit, reversing a loss from prior year period

  • Q3 operating expenses increased due to higher R&D and G&A costs


Outlook

  • Monte Rosa expects cash resources to support operations into 2029

  • Company plans to start Phase 2 MRT-8102 gout study in Q4 2026, data in H2 2027

  • Phase 2b MRT-8102 study in coronary artery disease expected to begin in H1 2027


Result Drivers

  • NOVARTIS MILESTONE - Q3 collaboration revenue rose mainly due to a $50 mln milestone from Novartis for starting Phase 2 study of MRT-6160 in Sjögren’s disease

  • R&D SPENDING - Higher R&D expenses reflected increased investment in development and discovery programs

  • INTEREST INCOME - Higher interest income contributed to net profit in the quarter


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Collaboration Revenue

$54.37 mln

Q3 Net Income

$3.06 mln

Q3 Operating Expenses

$56.31 mln

Q3 Loss From Operations

$1.94 mln

Q3 Pretax Profit

$3.78 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "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. is $27.00, about 149.5% above its November 4 closing price of $10.82


Reuters Recommended Reads

  • Nov 4 - Nurix says Sanofi discontinues autoimmune disease drug program

  • Nov 3 - Ultragenyx Q3 revenue rises, net loss narrows

  • Nov 4 - Vir Biotechnology Q3 net loss narrows on lower R&D costs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.