Piper Sandler raised the firm’s price target on Monte Rosa Therapeutics (GLUE) to $20 from $16 and keeps an Overweight rating on the shares after the company announced a global exclusive development and commercialization license agreement with Novartis (NVS) to advance VAV1 MGDs, including MRT-6160, for $150M upfront, up to $2.1B in milestones, 30% U.S. profit/loss share, and tiered outside-U.S. royalties.
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Read More on GLUE:
- Monte Rosa Enters Global License Agreement with Novartis
- Monte Rosa announces global license agreement with Novartis
- Monte Rosa Therapeutics presents preclinical data at ENA 2024
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