10-K Filing

Monte Rosa Therapeutics, Inc. CIK: 1826457 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0000950170-22-004927`
Period End Date	20211231
Filing Date	20220329
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	glue-20211231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 28 Cash Flow Statement 63 Stockholders Equity 24

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$346.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.70M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.60M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$348.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$43.59M	USD	Point-in-time
Temporary Equity, Par or Stated Value Per Share	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Temporary Equity, Par or Stated Value Per Share	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.32M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.62M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$5.34M	USD	Point-in-time
Convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	77.63M	shares	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$1.16M	USD	Point-in-time
Convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	0.00	shares	Point-in-time
Convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Total assets	`Assets`	$49.38M	USD	Point-in-time
Convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	53.63M	shares	Point-in-time
Total assets	`Assets`	$366.33M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	53.63M	shares	Point-in-time
Convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	97.50M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.07M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.56M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.53M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	46.79M	shares	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$10.08M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	1.69M	shares	Point-in-time
Preferred stock tranche obligations	`PreferredStockTrancheObligationsCurrent`	$19.68M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	46.54M	shares	Point-in-time
Preferred stock tranche obligations	`PreferredStockTrancheObligationsCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.27M	USD	Point-in-time
Defined benefit plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.07M	USD	Point-in-time
Defined benefit plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$30.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.81M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible preferred stock, $0.0001 par value; no shares authorized, issued, or outstanding as of December 31, 2021; and 77,631,514 shares authorized and 53,631,514 shares issued and outstanding as of December 31, 2020	`TemporaryEquityValueExcludingAdditionalPaidInCapital`	$67.76M	USD	Point-in-time
Convertible preferred stock, $0.0001 par value; no shares authorized, issued, or outstanding as of December 31, 2021; and 77,631,514 shares authorized and 53,631,514 shares issued and outstanding as of December 31, 2020	`TemporaryEquityValueExcludingAdditionalPaidInCapital`	-	USD	Point-in-time
Common stock, $0.0001 par value; 500,000,000 shares authorized, 46,794,295 shares issued and 46,535,966 shares outstanding as of December 31, 2021; and 97,500,000 shares authorized, 2,180,803 shares issued and 1,685,534 outstanding as of December 31, 2020	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.0001 par value; 500,000,000 shares authorized, 46,794,295 shares issued and 46,535,966 shares outstanding as of December 31, 2021; and 97,500,000 shares authorized, 2,180,803 shares issued and 1,685,534 outstanding as of December 31, 2020	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$471.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$404.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.02M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-48.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-122.03M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$48.73M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$347.51M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$366.33M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$49.38M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$24.00M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$57.16M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$15.73M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.00M	USD	Annual
Total operating expenses	`OperatingExpenses`	$72.88M	USD	Annual
Total operating expenses	`OperatingExpenses`	$28.01M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-72.88M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-28.01M	USD	Annual
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$9.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$46.00K	USD	Annual
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-162.00K	USD	Annual
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-198.00K	USD	Annual
Changes in fair value of preferred stock tranche obligations, net	`ChangesInFairValueOfPreferredStockTrancheObligationsNet`	$-960.00K	USD	Annual
Changes in fair value of preferred stock tranche obligations, net	`ChangesInFairValueOfPreferredStockTrancheObligationsNet`	$-7.68M	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-7.87M	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-1.08M	USD	Annual
Net loss	`NetIncomeLoss`	$-35.88M	USD	Annual
Net loss	`NetIncomeLoss`	$-73.96M	USD	Annual
Provision for pension benefit obligation	`ProvisionForPensionBenefitObligation`	$-1.06M	USD	Annual
Provision for pension benefit obligation	`ProvisionForPensionBenefitObligation`	$-965.00K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-36.94M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-74.92M	USD	Annual
Net loss	`NetIncomeLoss`	$-35.88M	USD	Annual
Net loss	`NetIncomeLoss`	$-73.96M	USD	Annual
Net loss per share attributable to common stockholdersbasic and diluted	`EarningsPerShareBasicAndDiluted`	$-23.65	USD	Annual
Net loss per share attributable to common stockholdersbasic and diluted	`EarningsPerShareBasicAndDiluted`	$-2.96	USD	Annual
Weighted-average number of shares outstanding used in computing net loss per common sharebasic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.00M	shares	Annual
Weighted-average number of shares outstanding used in computing net loss per common sharebasic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.52M	shares	Annual

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Proceeds from initial public offering, net of underwriting discount	`ProceedFromInitialPublicOfferingNetOfUnderwritingDiscount`	$17.89M	USD	Annual
Proceeds from initial public offering, net of underwriting discount	`ProceedFromInitialPublicOfferingNetOfUnderwritingDiscount`	$17.89M	USD	Annual
Net loss	`ProfitLoss`	$-73.96M	USD	Annual
Net loss	`ProfitLoss`	$-35.88M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$5.20M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$354.00K	USD	Annual
Depreciation	`Depreciation`	$537.00K	USD	Annual
Depreciation	`Depreciation`	$2.13M	USD	Annual
Changes in fair value of preferred stock tranche obligations	`ChangesInFairValueOfPreferredStockTrancheObligationsNet`	$-960.00K	USD	Annual
Changes in fair value of preferred stock tranche obligations	`ChangesInFairValueOfPreferredStockTrancheObligationsNet`	$-7.68M	USD	Annual
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-17.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.38M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$704.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-706.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.44M	USD	Annual
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.13M	USD	Annual
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$6.59M	USD	Annual
Defined benefit plan liability	`DefinedBenefitPlanOtherChanges`	$-1.11M	USD	Annual
Defined benefit plan liability	`DefinedBenefitPlanOtherChanges`	$-1.07M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.05M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-59.36M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.39M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.73M	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$79.00K	USD	Annual
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.39M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.65M	USD	Annual
Proceeds from issuance of convertible preferred stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$60.50M	USD	Annual
Proceeds from issuance of convertible preferred stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$143.00M	USD	Annual
Payment of convertible preferred stock issuance costs	`PaymentsOfStockIssuanceCosts`	$231.00K	USD	Annual
Payment of convertible preferred stock issuance costs	`PaymentsOfStockIssuanceCosts`	$440.00K	USD	Annual
Proceeds from initial public offering, net of underwriting discount of $17,895	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Proceeds from initial public offering, net of underwriting discount of $17,895	`ProceedsFromIssuanceInitialPublicOffering`	$237.75M	USD	Annual
Payment of initial public offering issuance costs	`PaymentsForRepurchaseOfInitialPublicOffering`	$3.11M	USD	Annual
Payment of initial public offering issuance costs	`PaymentsForRepurchaseOfInitialPublicOffering`	-	USD	Annual
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$149.00K	USD	Annual
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$377.56M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$60.06M	USD	Annual
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$33.62M	USD	Annual
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$308.55M	USD	Annual
Cash, cash equivalents and restricted cashbeginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.86M	USD	Point-in-time
Cash, cash equivalents and restricted cashbeginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.24M	USD	Point-in-time
Cash, cash equivalents and restricted cashbeginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.86M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.24M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$346.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.70M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$5.34M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.16M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.86M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.24M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Conversion of convertible preferred stock into common stock	`ConversionOfConvertiblePreferredStockIntoCommonStock`	-	USD	Annual
Conversion of convertible preferred stock into common stock	`ConversionOfConvertiblePreferredStockIntoCommonStock`	$231.17M	USD	Annual
Settlement of preferred stock tranche obligation	`SettlementOfPreferredStockTrancheObligation`	-	USD	Annual
Settlement of preferred stock tranche obligation	`SettlementOfPreferredStockTrancheObligation`	$20.64M	USD	Annual
Conversion of convertible note payable and accrued interest into Series A convertible preferred stock	`ConversionOfConvertibleNotePayableAndAccruedInterestIntoSeriesAConvertiblePreferredStock`	-	USD	Annual
Conversion of convertible note payable and accrued interest into Series A convertible preferred stock	`ConversionOfConvertibleNotePayableAndAccruedInterestIntoSeriesAConvertiblePreferredStock`	$754.00K	USD	Annual
Purchases of property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$656.00K	USD	Annual
Purchases of property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$458.00K	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$231.00K	USD	Annual
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$440.00K	USD	Annual
Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$48.73M	USD	Point-in-time
Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$347.51M	USD	Point-in-time
Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$12.15M	USD	Point-in-time
Balance (in shares)	`TemporaryEquitySharesOutstanding`	53.63M	shares	Point-in-time
Balance (in shares)	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time
Restricted common stock vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardVesting`	$1.00K	USD	Annual
Issuance of convertible preferred stock, net of issuance costs, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	31.07M	shares	Point-in-time
Conversion of convertible preferred stock into common stock	`StockIssuedDuringPeriodValueConversionOfUnits`	$231.17M	USD	Annual
Issuance of common stock in connection with initial public offering, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$234.65M	USD	Annual
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$148.00K	USD	Annual
Exercise of common stock options, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	90,381.00	shares	Annual
Provision for pension benefit obligation	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.06M	USD	Annual
Provision for pension benefit obligation	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-965.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.20M	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$354.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-35.88M	USD	Annual
Net loss	`NetIncomeLoss`	$-73.96M	USD	Annual
Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$48.73M	USD	Point-in-time
Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$347.51M	USD	Point-in-time
Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$12.15M	USD	Point-in-time
Balance (in shares)	`TemporaryEquitySharesOutstanding`	53.63M	shares	Point-in-time
Balance (in shares)	`TemporaryEquitySharesOutstanding`	0.00	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.