10-Q Filing

Monte Rosa Therapeutics, Inc. CIK: 1826457 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-021201`
Period End Date	20230331
Filing Date	20230511
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	glue-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 36 Cash Flow Statement 67 Stockholders Equity 19

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.91M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.31M	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Marketable securities	`MarketableSecurities`	$207.91M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$179.89M	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivables`	$2.17M	USD	Point-in-time
Other receivables	`OtherReceivables`	$7.66M	USD	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
Current restricted cash	`RestrictedCashCurrent`	$960.00K	USD	Point-in-time
Current restricted cash	`RestrictedCashCurrent`	$960.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.44M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	49.45M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$240.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$275.89M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	49.45M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	49.32M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$33.27M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	49.36M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.07M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$34.83M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$30.53M	USD	Point-in-time
Restricted cash, net of current	`RestrictedCashNoncurrent`	$4.32M	USD	Point-in-time
Restricted cash, net of current	`RestrictedCashNoncurrent`	$4.32M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$351.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$278.00K	USD	Point-in-time
Total assets	`Assets`	$342.39M	USD	Point-in-time
Total assets	`Assets`	$309.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.38M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$10.24M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$14.58M	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$3.13M	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$2.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.52M	USD	Point-in-time
Defined benefit plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.53M	USD	Point-in-time
Defined benefit plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.51M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$43.27M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$43.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$65.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$70.98M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 500,000,000 shares authorized, 49,271,905 shares issued and 49,360,984 shares outstanding as of March 31, 2023; and 500,000,000 shares authorized, 49,445,802 shares issued and 49,323,531 shares outstanding as of December 31, 2022	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, $0.0001 par value; 500,000,000 shares authorized, 49,271,905 shares issued and 49,360,984 shares outstanding as of March 31, 2023; and 500,000,000 shares authorized, 49,445,802 shares issued and 49,323,531 shares outstanding as of December 31, 2022	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$503.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$507.69M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-262.57M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-230.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$325.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$243.73M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$347.51M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$271.41M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$309.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$342.39M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$17.91M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$26.75M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.50M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.39M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.30M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$34.26M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-34.26M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-24.30M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$2.44M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$149.00K	USD	1 Quarter
Foreign currency exchange gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-85.00K	USD	1 Quarter
Foreign currency exchange gain (loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$96.00K	USD	1 Quarter
Gain (loss) on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Gain (loss) on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$125.00K	USD	1 Quarter
Loss on sale of marketable securities	`MarketableSecuritiesGainLoss`	$-131.00K	USD	1 Quarter
Loss on sale of marketable securities	`MarketableSecuritiesGainLoss`	-	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$370.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$2.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-32.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.93M	USD	1 Quarter
Net loss per share attributable to common stockholders-basic	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.51	USD	1 Quarter
Net loss per share attributable to common stockholders-basic	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.65	USD	1 Quarter
Net loss per share attributable to common stockholders-diluted	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.51	USD	1 Quarter
Net loss per share attributable to common stockholders-diluted	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.65	USD	1 Quarter
Weighted-average number of shares outstanding used in computing net loss per common share-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	49.35M	shares	1 Quarter
Weighted-average number of shares outstanding used in computing net loss per common share-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	46.60M	shares	1 Quarter
Weighted-average number of shares outstanding used in computing net loss per common share-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.35M	shares	1 Quarter
Weighted-average number of shares outstanding used in computing net loss per common share-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	46.60M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-32.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.93M	USD	1 Quarter
Provision for pension benefit obligation	`ProvisionForPensionBenefitObligation`	$14.00K	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`	$-345.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-24.04M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-31.68M	USD	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-32.04M	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`	$3.97M	USD	1 Quarter
Depreciation	`Depreciation`	$753.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.15M	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	-	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`	$-1.27M	USD	1 Quarter
Loss on sale of marketable securities	`MarketableSecuritiesRealizedGainLoss`	-	USD	1 Quarter
Loss on sale of marketable securities	`MarketableSecuritiesRealizedGainLoss`	$-131.00K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$125.00K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-2.05M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.32M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$608.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.18M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$306.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-3.56M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-3.29M	USD	1 Quarter
Defined benefit plan liability	`DefinedBenefitPlanOtherChanges`	$7.00K	USD	1 Quarter
Defined benefit plan liability	`DefinedBenefitPlanOtherChanges`	$-41.00K	USD	1 Quarter
Right-of-use assets and operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$6.89M	USD	1 Quarter
Right-of-use assets and operating lease liabilities	`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`	$-23.41M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.69M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.18M	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`	$67.82M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$178.96M	USD	1 Quarter
Proceeds From Maturity Of Marketable Securities	`Proceedsfrommaturityofmarketablesecurities`	-	USD	1 Quarter
Proceeds From Maturity Of Marketable Securities	`Proceedsfrommaturityofmarketablesecurities`	$51.70M	USD	1 Quarter
Proceeds From Sale Of Marketable Securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$45.63M	USD	1 Quarter
Proceeds From Sale Of Marketable Securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-180.52M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$20.33M	USD	1 Quarter
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$18.00K	USD	1 Quarter
Proceeds from exercise of employee stock options	`ProceedsFromStockOptionsExercised`	$153.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$18.00K	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`	$-3.06M	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`	$57.13M	USD	Point-in-time
Cash, cash equivalents and restricted cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.64M	USD	Point-in-time
Cash, cash equivalents and restricted cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Cash, cash equivalents and restricted cashbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$60.19M	USD	Point-in-time
Cash, cash equivalents and restricted cash-end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.13M	USD	Point-in-time
Cash, cash equivalents and restricted cash-end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.64M	USD	Point-in-time
Cash, cash equivalents and restricted cash-end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash-end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$60.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.91M	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`	$5.28M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.13M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$143.64M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.41M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$60.19M	USD	Point-in-time
Reduction of right-of-use assets for lease incentives receivable	`ReductionOfRightOfUseAssetsForLeaseIncentivesReceivable`	$3.43M	USD	1 Quarter
Reduction of right-of-use assets for lease incentives receivable	`ReductionOfRightOfUseAssetsForLeaseIncentivesReceivable`	-	USD	1 Quarter
Purchases of property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$794.00K	USD	1 Quarter
Purchases of property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$4.40M	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance begening period	`StockholdersEquity`	$325.88M	USD	Point-in-time
Balance begening period	`StockholdersEquity`	$243.73M	USD	Point-in-time
Balance begening period	`StockholdersEquity`	$347.51M	USD	Point-in-time
Balance begening period	`StockholdersEquity`	$271.41M	USD	Point-in-time
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$153.00K	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$18.00K	USD	1 Quarter
Exercise of common stock options, Shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	4,261.00	shares	1 Quarter
Provision for pension benefit obligation	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$34.00K	USD	1 Quarter
Provision for pension benefit obligation	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$14.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.25M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.97M	USD	1 Quarter
Unrealized loss on available-for-sale securities	`AvailableForSaleDebtSecuritiesGrossUnrealizedLoss`	$345.00K	USD	1 Quarter
Unrealized loss on available-for-sale securities	`AvailableForSaleDebtSecuritiesGrossUnrealizedLoss`	$146.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-32.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.93M	USD	1 Quarter
Balance end period	`StockholdersEquity`	$325.88M	USD	Point-in-time
Balance end period	`StockholdersEquity`	$243.73M	USD	Point-in-time
Balance end period	`StockholdersEquity`	$347.51M	USD	Point-in-time
Balance end period	`StockholdersEquity`	$271.41M	USD	Point-in-time

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