Novartis Starts Phase 2 Sjögren's Trial for MRT-6160, Triggering $50M Milestone to Monte Rosa
GLUE has more than doubled off its 52-week low of $4.79.
Summary
Novartis has initiated a Phase 2a/b study of MRT-6160 in Sjögren's disease, triggering a $50 million milestone payment to Monte Rosa. This is the first of several planned Phase 2 studies under the global license agreement, with Monte Rosa eligible for up to $2.1 billion in total milestones. The study will evaluate efficacy, safety, and tolerability over up to 52 weeks to support Phase 3 dose selection. This follows the Q2 update that highlighted a $626M cash position and extended runway into 2029. The milestone validates the VAV1 degrader program and provides non-dilutive capital.
At the time of this announcement, GLUE was trading at $13.99 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $4.79 to $25.77. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.