BUZZ-Monte Rosa Therapeutics surges on licensing deal with Novartis

Reuters

2024/10/28

** Shares of drug developer Monte Rosa Therapeutics rise 37.22% to $6.84 ** Novartis will pay GLUE $150 million upfront for a global license to develop, manufacture and sell some drug candidates

** GLUE will also be eligible for future payments of up to $2.1 billion in development, regulatory, and sales milestones

** The agreement is expected to accelerate the development of MRT-6160, which is in an early-stage study for immune-mediated conditions

** GLUE stock up ~20% YTD

(Reporting by Sriparna Roy in Bengaluru) ((mailto:Sriparna.Roy@thomsonreuters.com;))

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