JPMorgan lowered the firm’s price target on Monte Rosa Therapeutics to $11 from $31 and keeps an Overweight rating on the shares following the initial Phase 1 data disclosure for the company’s lead oncology candidate MRT-2359. The analyst views the initial activity signal in MYC+/NE-type tumors as promising, but one that will take time to solidify with additional study recruitment and patient follow-up. The firm now sees MRT-2539 being a solid-tumor focused agent, foregoing its prior forecasts in multiple myeloma.
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Read More on GLUE:
- Monte Rosa Therapeutics Announces Strategic Collaboration with Roche to Discover Novel Molecular Glue Degraders Targeting Cancer and Neurological Diseases
- Monte Rosa Therapeutics Announces Interim PK/PD and Clinical Data for MRT-2359 in Phase 1/2 Trial for MYC-Driven Solid Tumors
- Monte Rosa Therapeutics announces strategic collaboration with Roche
- Monte Rosa Therapeutics announces interim PK/PD, clinical data for MRT-2359
