Overview

• US biotech firm's Q1 collaboration revenue fell 95% yr/yr

• Company posted Q1 net loss after prior-year profit

• Cash position rose after $345 mln equity offering in January

Outlook

• Monte Rosa expects GFORCE-1 trial readout in subjects with elevated CVD risk in H2 2026

• Company plans to initiate multiple MRT-8102 Phase 2 studies starting in H2 2026

• Monte Rosa expects cash resources to fund operations and capital expenditures into 2029

Result Drivers

• HIGHER R&D SPENDING - Increased Q1 R&D expenses driven by spending on MRT-8102 program and other pipeline development efforts

• HIGHER ADMINISTRATIVE COSTS - G&A expenses rose due to increased headcount and public company support costs

Company press release: ID:nGNX8VK8DY

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Collaboration Revenue		$4.21 mln
Q1 Net Income		-$44.50 mln
Q1 Operating Expenses		$54.24 mln
Q1 Operating Income		-$50.03 mln

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"

• Wall Street's median 12-month price target for Monte Rosa Therapeutics Inc is $30.00, about 47.1% above its May 6 closing price of $20.39

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