Monte Rosa Therapeutics Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Red would require a finding against substance, and there is none: $666.2 million of cash as of March 31, 2026, no interest-bearing debt, $521.9 million of equity, an Altman Z of 4.62, effective disclosure controls and a runway the company itself puts "into 2029" against an operating cash outflow of $37.4 million per quarter. Green would require proof that the business carries itself: there is no approved product, no product revenue and an accumulated deficit of $521.7 million. All reported revenue comes from two customers and follows a recognition calendar rather than demand, and the most advanced clinical asset sits with Novartis, which also decides when Phase 2 begins. That is a weighty open operational question, but not a threat to substance — hence yellow. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Monte Rosa Therapeutics builds molecular glues that send disease-causing proteins to the cell's garbage disposal, and has raised $1.3 billion from securities sales and partner agreements since inception — without ever selling a drug. Reported revenue is an accounting calendar: $123.7 million in 2025, then $4.2 million instead of $84.9 million in the first quarter of 2026, turning $46.9 million of profit into a $44.5 million loss. What is proven: a very solid treasury of $666.2 million with no interest-bearing debt, $320.0 million of upfront payments from Roche and Novartis, and measurable evidence of effect for MRT-8102 in humans. Against that stand dilution from 65.5 million to 84.5 million shares in four months, a lead asset handed to Novartis, and milestones that only start flowing once Phase 2 studies begin. Not investment advice.
Balance sheet and liquidity
As of March 31, 2026 the company held $666.2 million in cash and marketable securities against total assets of $736.4 million and equity of $521.9 million. There is no interest-bearing debt; the largest liability is $136.7 million of partner money already collected but not yet earned. Management states a cash runway "into 2029."
Technology and partners
Roche paid $50.0 million upfront in November 2023, Novartis a further $150.0 million in December 2024 and another $120.0 million in September 2025 — $320.0 million in total, with no repayment obligation and no shares issued. The MRT-8102 interim data of January 7, 2026 show effect in humans: hsCRP down 85 percent after four weeks in 24 subjects.
Earning power
There is no approved product and no product revenue; the accumulated deficit stood at $521.7 million as of March 31, 2026. Reported revenue follows an accounting calendar: $4.2 million in the first quarter of 2026 against $84.9 million a year earlier, down 95 percent — turning $46.9 million of profit into $44.5 million of loss.
Dilution
Share count rose from 65,543,723 on December 31, 2025 to 84,479,418 on May 1, 2026 — up 28.9 percent in four months, driven by the January 2026 placement of 13,000,000 shares at $24.00. On top of that sit 16,997,266 pre-funded warrants, 15,989,324 options, 1,149,012 restricted stock units and an untouched $100.0 million at-the-market program.
Dependence on two customers
All reported revenue comes from Roche and Novartis. The most advanced clinical asset, MRT-6160, has been licensed to Novartis since October 2024; in-house research spending on it fell to $11,000 in the first quarter of 2026 from $3.981 million a year earlier. The up to $2.1 billion of milestones only begins flowing once Phase 2 studies start, and Novartis decides that.
Valuation
Roughly $1.9 billion of market capitalization ($22.78 on July 24, 2026) — around $2.3 billion including the pre-funded warrants — stands against $666.2 million of cash. The market therefore pays roughly $1.3 billion to $1.6 billion for the pipeline. Nine analyst ratings averaged a $33.17 target while 20.7 percent of the float was sold short (data as of July 25, 2026).
Worth Noting
GLUE reached our research list as number 13 of 28 U.S. hits in our in-house Moglen weekly ranking (as of July 25, 2026, relative strength rating 96) — part of our series filling the top 50 of that ranking with analyses. The scanner lists are recalculated daily.
What the scanner measures: at least 15 percent price gain over four trading days, at least $10 million of average daily dollar volume and a relative strength rating of 70 or higher. Those are purely price-based criteria and say nothing about company quality.
Metric trap: price-to-sales and price-earnings ratios are misleading for Monte Rosa. There are no earnings, and the reported revenue is not sales revenue but the recognized portion of upfront payments already collected. The Piotroski F-Score (5 of 9) and the Altman Z-Score (4.62) likewise assume profit and revenue quantities that do not exist here in that form.
Currency note: the most recent quarterly report (Form 10-Q) is dated May 7, 2026 and has been fully analysed. Filings after it were reviewed — the Form 8-K of June 11, 2026 (annual meeting), the Schedule 13D/A of July 6, 2026, further Schedule 13G/A filings, and Form 4 insider filings and Form 144 sale notices through July 17, 2026. There is no merger, no take-private, no going-private transaction and no delisting.
Risk of confusion: the ticker GLUE belongs to Monte Rosa Therapeutics, Inc. of Boston (CIK 1826457), not to an adhesives maker. The name refers to molecular glue degraders. The Swiss subsidiary Monte Rosa Therapeutics AG in Basel is not separately listed; it is the contracting party in the Roche and Novartis agreements.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at GLUE since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 6.30 $ to 25.30 $ · Last price: 12.60 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Biotechnology
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Monte Rosa Therapeutics Inc GLUE | 1.1 | – | 51.9 | -465.2 | – | 63.5 | 98.1 |
| Vertex Pharmaceuticals Inc VRTX | 130.6 | 31.3 | 24.5 | 55.0 | 38.1 | 9.6 | 33.4 |
| Regeneron Pharmaceuticals Inc REGN | 82.0 | 19.9 | 13.1 | 44.5 | 20.7 | 1.0 | 35.5 |
| Moderna Inc MRNA | 62.7 | – | 4.6 | -66.0 | -131.1 | -39.2 | 532.3 |
| argenx NV ARGX | 61.9 | 38.1 | 34.2 | 59.1 | 32.0 | 89.6 | 30.9 |
| Revolution Medicines Inc RVMD | 40.9 | – | -9.7 | -174,708.6 | 0.0 | -100.0 | 338.3 |
| BeiGene, Ltd. ONC | 40.0 | 63.1 | 34.1 | 88.9 | 19.1 | 40.2 | 6.4 |
| Alnylam Pharmaceuticals Inc ALNY | 32.6 | 61.8 | 28.4 | 79.7 | 23.0 | 65.2 | -48.1 |
| Royalty Pharma Plc RPRX | 32.5 | 31.8 | 19.6 | 95.8 | 100.3 | 5.1 | 68.6 |
| Median of companies shown | 40.9 | 34.9 | 24.5 | 55.0 | 21.8 | 9.6 | 35.5 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2019 | 0 | -8 | -8 | -0.18 | -6 | -12 | 11 |
| 2020 | 0 | -28 | -36 | -0.82 | -23 | -49 | 49 |
| 2021 | 0 | -73 | -74 | -1.59 | -59 | 348 | 366 |
| 2022 | 0 | -112 | -109 | -2.30 | -92 | 271 | 342 |
| 2023 | 0 | -143 | -135 | -2.63 | -44 | 179 | 304 |
| 2024 | 76 | -81 | -73 | -0.98 | 42 | 223 | 439 |
| 2025 | 124 | -54 | -39 | -0.59 | -23 | 233 | 449 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.22 | – | 61 | 593.00 | 22.20 | 129 | 129 |
| 2025: Q1 | 0.57 | – | 85 | 7,882.00 | 55.20 | -46 | -47 |
| 2025: Q2 | -0.15 | – | 23 | 394.00 | -53.00 | -35 | -36 |
| 2025: Q3 | -0.33 | – | 13 | 38.50 | -212.10 | 100 | 100 |
| 2025: Q4 | -0.70 | -421.80 | 3 | -95.40 | -1,658.90 | -43 | -44 |
| 2026: Q1 | -0.68 | -220.10 | 4 | -95.00 | -1,057.10 | -37 | -39 |
| 2026: Q2 | – | – | 9 | -61.20 | -482.20 | -44 | -49 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 17 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
- 21-EMA Trend
- Above 21-EMA Pullback
- Above the 50- & 200-SMA
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- High ADR (≥5%)
- Mark Minervini: Trend Criteria — 1 Month
- Power Trend
- RS Leader (≥90)
- Richard Moglen: 1 Week Top Performers
- Stan Weinstein: Stage 2
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -1.45 | -2.02 – -0.41 | 66 | -214.1% | 7 |
| 12/31/2027 | -1.87 | -2.91 – 0.24 | 57 | -29.7% | 7 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Monte Rosa Therapeutics setzt künstliche Intelligenz und maschinelles Lernen als festen Bestandteil der eigenen Wirkstoff-Suchmaschine QuEEN ein — die Firma verkauft keine KI, sondern nutzt sie, um Zielproteine und passende molekulare Kleber zu finden.
View the full file — quotes, sources, reviewed filings
„We combine our artificial intelligence or “AI” / machine learning or “ML” engines with multiple proprietary experimental tools to identify therapeutically relevant target proteins amenable to degradation by our MGDs."
Wir verbinden unsere Maschinen für künstliche Intelligenz („AI“) und maschinelles Lernen („ML“) mit mehreren eigenen Laborwerkzeugen, um therapeutisch bedeutsame Zielproteine zu finden, die sich mit unseren molekularen Klebern abbauen lassen.
10-K · 2026-03-17 · View SEC filing
„We have developed sophisticated and proprietary AI-powered algorithms to mine databases of protein sequences and structures, including structures determined from x-ray crystallography and cryoEM, and structures from predicted protein folding."
Wir haben ausgefeilte, eigene KI-gestützte Algorithmen entwickelt, um Datenbanken mit Proteinsequenzen und -strukturen auszuwerten, darunter Strukturen aus Röntgenkristallographie und Kryo-Elektronenmikroskopie sowie Strukturen aus vorhergesagter Proteinfaltung.
10-K · 2026-03-17 · View SEC filing
„Under the 2025 Novartis Agreement, we will apply our proprietary AI/ML-enabled QuEEN™ engine for the discovery and development of degraders for the First Licensed Program and the Optioned I&I Programs."
Nach der Novartis-Vereinbarung von 2025 setzen wir unsere eigene, mit künstlicher Intelligenz und maschinellem Lernen betriebene QuEEN-Maschine für die Entdeckung und Entwicklung von Abbau-Wirkstoffen für das erste lizenzierte Programm und die optionierten Immunologie-Programme ein.
10-Q · 2026-05-07 · View SEC filing
„We continue to build and integrate AI into our business, in particular as a component of our QuEEN TM drug discovery engine, and this innovation presents risks and challenges that could affect its adoption, and therefore our business."
Wir bauen künstliche Intelligenz weiter aus und binden sie in unser Geschäft ein, insbesondere als Bestandteil unserer QuEEN-Wirkstoffsuchmaschine; diese Neuerung bringt Risiken und Herausforderungen mit sich, die ihre Verbreitung und damit unser Geschäft beeinträchtigen können.
10-K · 2026-03-17 · View SEC filing
Filings Reviewed: 10-Q 2026-05-07 · 10-K 2026-03-17 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-K 2025-03-20 · 8-K 2026-01-07
Rated on July 26, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years no data
- More than 10% revenue growth is expected for the coming year 30.8%
- Share count grows by less than 3% a year 11.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 41.3%
- Gross margin at 40% or higher and without meaningful erosion no data
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 338 m net cash
- Operating cash flow covers the profits of the last three years 222 m
- Return on capital at 15% or higher, or up versus two years ago -14.1%
- Insiders hold at least 10% or are net buyers 0.6%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
1/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% –
- Exp. sales growth 3Y > 5% -32.1%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% -32.1%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% -16.6%
- ROCE > 15% -14.1%
- Expected return > 10% -33.8%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Jul 16, 2026 | Warmuth Markus | President & CEO | Sell | 9,500 | 23.18 | 220,219 |
| Jul 15, 2026 | Champoux Jennifer | Chief Operating Officer | Sell | 4,351 | 23.38 | 101,730 |
| Jul 15, 2026 | Champoux Jennifer | Chief Operating Officer | Other | 4,351 | 3.98 | 17,317 |
The company
About the Company
Monte Rosa Therapeutics, Inc., ein Biotechnologieunternehmen in der klinischen Phase, beschäftigt sich mit der Entwicklung neuartiger niedermolekularer Präzisionsmedikamente, die die natürlichen Mechanismen des Körpers nutzen, um therapeutisch relevante Proteine selektiv abzubauen.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 173
- Headquarters
- Boston, MA
- Address
- 321 Harrison Avenue, 02118 Boston, United States
- Phone
- 617 949 2643
- Website
- monterosatx.com
- IPO Date
- 06/24/2021
- ISIN
- US61225M1027
Management
| Name | Title | Birth Year |
|---|---|---|
| Markus Warmuth M.D. | President, CEO & Director | 1971 |
| Philip Nickson J.D., Ph.D. | Chief Business & Legal Officer | 1979 |
| Filip Janku M.D., Ph.D. | Chief Medical Officer | 1974 |
| Matthew Bowen | Corporate Controller & Principal Accounting Officer | 1989 |
| Jennifer Champoux | Chief Operating Officer | 1972 |
| Magnus Walter DPHIL | Chief Technology Officer | – |
| John C. Castle Ph.D. | Chief Data & Information Officer | 1971 |
| Sharon Townson Ph.D. | Chief Scientific Officer | 1975 |
| Andrew Funderburk | Chief Investor Relations and Strategy Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.