Monte Rosa Therapeutics dips after $200 mln equity offering launched

Monte Rosa Therapeutics

08/01/2026 11:43

** Monte Rosa Therapeutics GLUE.O shares down 1.1% premarket at $23.03 as it looks to raise equity

    ** Boston, Massachusetts-based firm late Weds commenced $200 mln offering comprising stock and pre-funded warrants

    ** GLUE shares on Weds surged 45% to close at over 4-yr high of $23.28 after co early in day said its heart drug, MRT-8102, sharply lowered inflammation in an early-stage trial

    ** Co intends to use net offering proceeds to fund advancement of MRT-8102 in chronic inflammatory diseases including atherosclerotic cardiovascular disease (ASCVD), and for continued development of its QuEENTM platform, and for other purposes, per the offering prospectus

    ** Jefferies, TD Cowen and Piper Sandler joint bookrunners, joined by Wedbush and LifeSci Capital as passive bookrunners

** GLUE has ~65.1 mln shares outstanding for $1.5 bln market cap

** Through Weds close, stock has tripled over the past three months

    ** All 9 analysts are bullish and their median PT is $30, up from $18 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))