Monte Rosa Therapeutics Inc. shares fell nearly 4.8% in morning trading on Monday, dropping to $13.61 after the biotech firm reported second-quarter revenue that trailed analyst expectations.
The company’s Q2 2026 revenue totaled $8.97 million, missing the consensus estimate of $12.88 million, according to data compiled by the firm. The earnings update was released on August 6, 2026.
In clinical developments, Monte Rosa dosed the first patient in its Phase 2 MODeFIRe-1 study on August 24, 2026. The trial is evaluating the company’s lead oncology candidate, MRT-2359, in combination with apalutamide for patients with androgen receptor mutation-positive metastatic castration-resistant prostate cancer. The stock’s current price of $13.61 remains well below its 52-week high of $25.77 and near its 52-week low of $4.54.
The company also highlighted its MRT-8102 program, which targets inflammation-related indications. Monte Rosa noted that Novo Nordisk’s late-stage trial failure in late July involving a similar approach has created headwinds for the program. Analysts at Guggenheim trimmed their price target on Monte Rosa shares following the earnings report.
The broader market showed modest declines on the day of the earnings release, with the Nasdaq Composite falling 0.7% and the S&P 500 down 0.3%.
