Monte Rosa Therapeutics, Inc.

Monte Rosa Therapeutics reported collaboration revenue of $123.7 million for FY 2025, up 63% YoY from $75.6 million in 2024, driven by progress under Roche and Novartis agreements, including $150 million upfront from Novartis for VAV1 MGDs and $120 million from the 2025 Novartis deal. Total operating expenses rose 13% to $177.9 million, with R&D up 16% to $141.5 million due to clinical advancement of MRT-2359, MRT-8102, and preclinical programs like CDK2/CCNE1, while G&A increased modestly to $36.4 million. Loss from operations improved to -$54.2 million from prior year levels, yielding net loss of -$38.6 million versus -$72.7 million in 2024, aided by $14.5 million other income mainly from interest. Balance sheet strengthened with $448.7 million total assets, including $393.2 million current assets ($129.9 million cash equivalents, $247.2 million marketable securities), and $233.1 million stockholders' equity. Cash burn from operations was -$22.8 million, with net cash decrease of -$94.3 million offset by $30.4 million financing. Post-year, $323.8 million net proceeds from January 2026 public offering extend runway into 2029, supporting Phase 2 trials for MRT-2359/MRT-8102 and pipeline expansion.

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