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what it is
Monte Rosa builds cancer drugs that force bad proteins to get destroyed.
how it gets paid
Last year Monte Rosa made $76M in revenue. Collaboration revenue was the main engine at $41.8M, or 55% of sales.
what just happened
Monte Rosa posted about $121M in one quarter (lumpy collaboration/upfront math) while FY sales on this page stay $76M; EPS on that quarter print was still about -$0.33. Label the period before you compare quarters to FY.
At a glance
B balance sheet — gets the job done, barely
-$0.98 fy2024 eps est
$76M FY2024 revenue (filing/bridge line on this page—same as body; not a separate Street est)
~-107% operating margin on feed — losses > sales
1.85 beta
xvary composite: 55/100 — below average
What they do
Monte Rosa builds cancer drugs that force bad proteins to get destroyed.
QuEEN → protein-degradation platform → so what: it hunts targets before you spend years on one dead end. You are not buying a single drug here; you are buying 2 oncology shots from one engine. The engine is small: 134 employees and $36M of long-term debt keep the burn visible.
How they make money
$76M
annual revenue
collaboration revenue
$41.8M
upfront licensing
$15.2M
milestone payments
$11.4M
research services
$7.6M
The products that matter
partner-funded platform revenue
Collaboration revenue
$41.8M · ~55% of FY revenue
largest line in the $76M FY table—still partnership dollars, not product sales. the rest is upfront, milestones, and research services, which tells you GLUE is still monetizing science deals rather than approved medicines.
current cash engine
lead oncology candidate
MRT-2359
phase 1/2 · lead asset
this asset produces none of the $76M current revenue today, yet a large part of the ~$1B valuation depends on it proving the platform works in patients.
pipeline proof
inflammatory disease candidate
MRT-8102
phase 1 · H1 2026 catalyst
phase 1 data is expected in H1 2026, which makes this one of the few dated readouts that can broaden the story beyond a single lead program.
next catalyst
Key numbers
$121M
quarterly revenue
One quarter now exceeds the full-year estimate by $45M, which is what happens when biotech revenue lurches.
$76M
fy2024 sales
The annual sales plan is tiny next to a $1B market cap. That gap is why every print matters.
-107.3%
operating margin
Matches the earnings section: operating losses exceed revenue on this feed—classic cash-burn biotech math.
$36M
long debt
Debt is small in absolute terms, but $36M matters when the business is still burning cash.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 2 — safer than 80% of stocks
- price stability 5 / 100
- long-term debt $36M (3% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for GLUE right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Monte Rosa posted $121M in quarterly revenue, but EPS was still -$0.33.
Revenue was up 847% vs. prior year. The company is still unprofitable, with annual operating margin at -107.3%.
$121M
rev (q)
-$0.33
eps (q)
~+847%
rev vs. prior year (q)
quarterly revenue
The $121M quarter matters because it shows the platform can produce real sales, even while losses stay ugly.
source: company earnings report, 2026
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What could go wrong
the #1 risk is clinical failure in MRT-2359 or weak platform read-through from MRT-8102. this company is still being valued on future validation, not on a commercial base.
med
lead-asset failure
MRT-2359 is the lead clinical proof point. if the phase 1/2 program fails to show enough signal, a ~$1B story loses its center of gravity fast.
impact: the main valuation pillar breaks before any product revenue exists to catch it.
med
platform concentration
GLUE has $76M of revenue, but the business case still comes down to one unproven molecular glue platform. there is no approved drug franchise here yet.
impact: if the broader platform fails, you do not just lose one program — you lose the premium multiple.
med
cash burn and dilution
the ATM program was terminated in jan 2026, but a clinical-stage biotech with no product sales still lives on outside capital, milestone timing, or both.
impact: even with only $36M of long-term debt, future funding can still dilute existing shareholders.
med
revenue quality
the 11.54% profit margin and current revenue base come from collaborations, not recurring product demand. that can make results look steadier than they really are.
impact: if partnership revenue slows, the market is left staring directly at losses and the pipeline clock.
four identified risks. combined exposure: most of the current thesis, because there is still no approved-product revenue to diversify the story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
MRT-8102 phase 1 data
expected in H1 2026. if it lands well, GLUE stops looking like a one-asset story.
numbers
$15.6M revenue versus the next quarter setup
that is the current revenue expectation. missing it would matter because the company is still buying time with collaboration income.
financing
life after the ATM termination
the jan 2026 termination helped sentiment. your next question is whether cash needs reappear as trials expand.
volatility
the stock's own behavior
a 1.85 beta and 5 / 100 price stability mean the tape will react hard to both good science and bad science.
Analyst rankings
risk rank
2
safer than 80% of stocks on balance-sheet metrics. in human-speak, the financing setup looks calmer than the science risk does.
beta
1.85
this stock tends to move more than the market. if the index sneezes, small biotech names like this usually do not whisper.
price stability
5 / 100
extremely low stability. translation: do not expect a smooth chart while the company is still proving the platform.
source: institutional data
Institutional activity
institutional ownership data for GLUE is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$18
current price
n/a
target midpoint · n/a from current
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