Monte Rosa Therapeutics reports Q1 EPS (53c), consensus (57c)

Reports Q1 revenue $1.1M, consensus $1.4M. “We’re excited by the significant advances made across our entire portfolio, including both our oncology and immunology/inflammation programs,” said CEO Markus Warmuth. “Our Phase 1/2 clinical trial evaluating MRT-2359 for MYC-driven solid tumors is on track and we plan to announce the recommended Phase 2 dose later this quarter and to report clinical data from this program in the second half of the year. We eagerly anticipate the initiation of a Phase 1 study of MRT-6160, the first of our MGD drug candidates for immune-related diseases, in mid-2024, with results from the study expected in Q1 2025…The rapid and efficient progression of our pipeline clearly illustrates the power of our AI/ML-driven QuEEN discovery engine. Through our ongoing internal efforts as well as our research collaboration with Roche, we look forward to continuing this strong progress.”