What's Going On Cancer Player Monte Rosa Therapeutics Stock Today?

Monte Rosa Therapeutics Inc GLUE entered into a strategic collaboration and licensing agreement with Roche Holdings AG RHHBY to discover and develop molecular glue degraders (MGDs) against targets in cancer and neurological diseases.

Under the terms of the agreement, Monte Rosa will receive an upfront payment of $50 million and is eligible to receive future milestone payments that could exceed $2 billion, as well as tiered royalties. 

The parties also agreed on a mechanism to expand the collaboration on multiple targets within the first two years. 

In that case, additional payments for nomination, preclinical, clinical, commercial, and sales milestones are due, as well as tiered royalties on the resulting products. 

Monte Rosa Therapeutics will lead discovery and preclinical activities against multiple select cancer and neurological disease targets to a defined point. 

Roche gains the right to exclusively pursue further preclinical and clinical development of the compounds. 

Monte Rosa retains full ownership of its pipeline programs. Concurrently, Monte Rosa released interim data from the Phase 1 dose escalation part of its ongoing Phase 1/2 study of MRT-2359 in patients with MYC-driven solid tumors.

Interim clinical data from the MRT-2359 study have demonstrated favorable tolerability, pharmacokinetic (PK), and pharmacodynamic (PD) profiles in heavily pretreated patients with lung and high-grade neuroendocrine cancer. 

MRT-2359 has been demonstrated to reduce GSPT1 protein levels in patient tumors and has shown evidence of tumor size reductions, including partial responses, in heavily pretreated patients with biomarker-positive tumors. 

Clinical activity was seen across all dose levels. Of the six biomarker-positive patients, two achieved a partial response (PR), one confirmed, and one unconfirmed, and one experienced durable stable disease (SD). 

One patient with an unevaluable biomarker status also experienced durable SD.

Price Action: GLUE shares are down 15.30% at $4.24 on the last check Tuesday.