Business
Monte Rosa Therapeutics Announces First Quarter 2023 Financial Results and Provides Corporate Update
On track to present initial data from Phase 1/2 clinical trial of MRT-2359 in MYC-driven solid tumors in the second half of 2023Cash runway into 2025 supports
About this update from Monte Rosa Therapeutics, Inc.
[{"type":"text","content":"On track to present initial data from Phase 1/2 clinical trial of MRT-2359 in MYC-driven solid tumors in the second half of 2023Cash runway into 2025 supports operations and advancement of pipeline of novel molecular glue degraders to key inflection points BOSTON, May 11, 2023 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (Nasdaq: GLUE), a clinical-stage biotechnology company developing novel molecular glue degrader (MGD)-based medicines, today reported business highlights and financial results for the quarter ended March 31, 2023. “During the first quarter, we made significant progress with our Phase 1/2 clinical trial of MRT-2359 in MYC-driven solid tumors. This trial continues to attract top oncologists and academic centers, and patient enrollment is on track for us to have initial data to share in the second half of the year. We remain excited about the prospect of bringing a potential therapeutic option to a range of indications driven by MYC, one of the most frequently altered families of oncogenes,” said Markus Warmuth, M.D., CEO of Monte Rosa. “Furthermore, we expect to declare a development candidate in our VAV1 program in the second quarter. This milestone will mark a significant advancement in our pipeline of MGD-based medicines in the field of immunology and inflammation. We believe the underlying biology and our preclinical data support the potential of our VAV1-directed MGD to provide clinical benefit in multiple autoimmune diseases. Our continued progress with our pipeline speaks to the power of our QuEEN discovery engine and our position as a leading molecular glue degrader company. Backed by a strong balance sheet and a sharp focus on developing impactful medicines, we look forward to continuing to further the development of our molecular glue therapeutics.” FIRST QUARTER 2023 AND RECENT HIGHLIGHTS Presented preclinical data highlighting the preferential activity of MRT-2359, an orally bioavailable GSPT1-directed MGD, in MYC-driven tumor cells at the American Association for Cancer Research (AACR) Annual Meeting 2023 in Orlando, FLAppointed Jan Skvarka, Ph.D., MBA, an accomplished biopharmaceutical executive with extensive operational, strategic, and financial expertise to the Company’s Board of Directors UPCOMING MILESTONES On track to announce initial clinical data, including pharmacokinetic (PK), pharmaco...