10-Q Filing

Monte Rosa Therapeutics, Inc. CIK: 1826457 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000950170-22-009324`
Period End Date	20220331
Filing Date	20220511
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	glue-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 32 Cash Flow Statement 64 Stockholders Equity 22

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$168.44M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$346.07M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.31M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	46.85M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	46.79M	shares	Point-in-time
Marketable Securities	`MarketableSecurities`	-	USD	Point-in-time
Marketable Securities	`MarketableSecurities`	$178.86M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	46.54M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.60M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	46.63M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$320.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$348.67M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.32M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssets`	-	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssets`	$6.91M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$5.34M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$5.33M	USD	Point-in-time
Total assets	`Assets`	$366.33M	USD	Point-in-time
Total assets	`Assets`	$346.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.51M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$6.46M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$10.08M	USD	Point-in-time
Current portion of operating lease liability	`CurrentPortionOfOperatingLeaseLiability`	$1.52M	USD	Point-in-time
Current portion of operating lease liability	`CurrentPortionOfOperatingLeaseLiability`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.49M	USD	Point-in-time
Defined benefit plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.18M	USD	Point-in-time
Defined benefit plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.18M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$5.46M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.13M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value; 500,000,000 shares authorized, 46,854,535 shares issued and 46,630,711 shares outstanding as of March 31, 2022; and 500,000,000 shares authorized, 46,794,295 shares issued and 46,535,966 shares outstanding as of December 31, 2021	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, $0.0001 par value; 500,000,000 shares authorized, 46,854,535 shares issued and 46,630,711 shares outstanding as of March 31, 2022; and 500,000,000 shares authorized, 46,794,295 shares issued and 46,535,966 shares outstanding as of December 31, 2021	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$473.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$471.57M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.02M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-145.97M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-122.03M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$347.51M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-48.73M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-60.62M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$325.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$366.33M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$346.00M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$9.27M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$17.91M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.39M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.50M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.30M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-24.30M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-11.50M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$149.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$6.00K	USD	1 Quarter
Foreign currency exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$182.00K	USD	1 Quarter
Foreign currency exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$96.00K	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$125.00K	USD	1 Quarter
Changes in fair value of preferred stock tranche obligations, net	`ChangesInFairValueOfPreferredStockTrancheObligationsNet`	-	USD	1 Quarter
Changes in fair value of preferred stock tranche obligations, net	`ChangesInFairValueOfPreferredStockTrancheObligationsNet`	$-960.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-772.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$370.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.28M	USD	1 Quarter
Provision for pension benefit obligation	`ProvisionForPensionBenefitObligation`	$136.00K	USD	1 Quarter
Provision for pension benefit obligation	`ProvisionForPensionBenefitObligation`	$34.00K	USD	1 Quarter
Unrealized loss on available-for-sale securities	`DebtSecuritiesAvailableForSaleRealizedLoss`	$146.00K	USD	1 Quarter
Unrealized loss on available-for-sale securities	`DebtSecuritiesAvailableForSaleRealizedLoss`	-	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-24.04M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.14M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-23.93M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLoss`	$-12.28M	USD	1 Quarter
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$7.18	USD	1 Quarter
Net loss per share attributable to common stockholders-basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.51	USD	1 Quarter
Weighted-average number of shares outstanding used in computing net loss per common sharebasic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	46.60M	shares	1 Quarter
Weighted-average number of shares outstanding used in computing net loss per common sharebasic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.71M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-12.28M	USD	1 Quarter
Net loss	`ProfitLoss`	$-23.93M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.25M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$252.00K	USD	1 Quarter
Depreciation	`Depreciation`	$753.00K	USD	1 Quarter
Depreciation	`Depreciation`	$274.00K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$379.00K	USD	1 Quarter
Net accretion of discounts/premiums on marketable securities	`AccretionOfDiscountsPremiumsOnMarketableSecuritiesNet`	$-45.00K	USD	1 Quarter
Net accretion of discounts/premiums on marketable securities	`AccretionOfDiscountsPremiumsOnMarketableSecuritiesNet`	-	USD	1 Quarter
Changes in fair value of preferred stock tranche obligations	`ChangesInFairValueOfPreferredStockTrancheObligationsNet`	-	USD	1 Quarter
Changes in fair value of preferred stock tranche obligations	`ChangesInFairValueOfPreferredStockTrancheObligationsNet`	$-960.00K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$125.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.38M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$608.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-906.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.18M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-738.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-3.56M	USD	1 Quarter
Defined benefit plan liability	`DefinedBenefitPlanOtherChanges`	$-41.00K	USD	1 Quarter
Defined benefit plan liability	`DefinedBenefitPlanOtherChanges`	-	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	-	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-375.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-27.40M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.81M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.69M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.22M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$125.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$178.96M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.22M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-180.52M	USD	1 Quarter
Proceeds from issuance of convertible preferred stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	-	USD	1 Quarter
Proceeds from issuance of convertible preferred stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$143.00M	USD	1 Quarter
Payment of convertible preferred stock issuance costs	`PaymentsOfStockIssuanceCosts`	$231.00K	USD	1 Quarter
Payment of convertible preferred stock issuance costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$153.00K	USD	1 Quarter
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$142.77M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$153.00K	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$126.74M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-207.77M	USD	1 Quarter
Cash, cash equivalents and restricted cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Cash, cash equivalents and restricted cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$169.60M	USD	Point-in-time
Cash, cash equivalents and restricted cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.86M	USD	Point-in-time
Cash, cash equivalents and restricted cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.64M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$169.60M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.86M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$168.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$346.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.31M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$5.33M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.16M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$169.60M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.86M	USD	Point-in-time
Cash, cash equivalents and restricted cashend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.64M	USD	Point-in-time
Settlement of preferred stock tranche obligation	`SettlementOfPreferredStockTrancheObligation`	$20.64M	USD	1 Quarter
Settlement of preferred stock tranche obligation	`SettlementOfPreferredStockTrancheObligation`	-	USD	1 Quarter
Purchases of property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$794.00K	USD	1 Quarter
Purchases of property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.17M	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$231.00K	USD	1 Quarter
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$347.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$-48.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$-60.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$325.88M	USD	Point-in-time
Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$325.88M	USD	Point-in-time
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$153.00K	USD	1 Quarter
Exercise of common stock options, Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	60,240.00	shares	1 Quarter
Issuance of convertible preferred stock, net of issuance costs, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	31.07M	shares	Point-in-time
Provision for pension benefit obligation	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$34.00K	USD	1 Quarter
Provision for pension benefit obligation	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$136.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$252.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.25M	USD	1 Quarter
Unrealized loss on available-for-sale securities	`AvailableForSaleDebtSecuritiesGrossUnrealizedLoss`	$146.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.28M	USD	1 Quarter
Balance	`StockholdersEquity`	$347.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$-48.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$-60.62M	USD	Point-in-time
Balance	`StockholdersEquity`	$325.88M	USD	Point-in-time
Balance	`TemporaryEquityCarryingAmountAttributableToParent`	$325.88M	USD	Point-in-time

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