Monte Rosa Therapeutics Q2 revenue drops, net loss widens on higher R&D
GLUE•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "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 $29.00, about 85.8% above its August 5 closing price of $15.61
Q2 results and key drivers
- US biotech firm's Q2 collaboration revenue fell sharply yr/yr
- Company posted wider Q2 net loss as operating expenses increased
- Cash and securities of $626 mln expected to support operations into 2029
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Collaboration Revenue | $8.97 mln | ||
| Q2 Net Loss | $43.40 mln | ||
| Q2 Operating Expenses | $58.10 mln | ||
| Q2 Operating Income | -$49.13 mln |
Result drivers
- R&D spending - Higher Q2 R&D expenses driven by increased investment in MRT-8102 and other development programs
