Monte Rosa Therapeutics Inc. (NASDAQ:GLUE) shares surged 20.03% to $14.32 in the pre-market session on Thursday as investors looked ahead to expanded Phase 1 data from the biotech’s experimental cardiovascular drug MRT-8102.
The Boston-based clinical-stage biotechnology company said Wednesday that management will host a live conference call and webcast Thursday at 8:00 a.m. ET to discuss results from the GFORCE-1 Phase 1 study.
GFORCE-1 Results
Management will review results from the Phase 1 GFORCE-1 study of MRT-8102. The drug is a NEK7-directed molecular glue degrader (MGD) being tested in people with elevated cardiovascular disease (CVD) risk.
The presentation will cover safety and activity data across multiple dose levels after four weeks of treatment.
Monte Rosa also said it will showcase “pioneering data” on how MRT-8102 modulates multiple drivers of atherosclerotic cardiovascular disease (ASCVD).
Trading Metrics, Technical Analysis
Monte Rosa has a market capitalization of $1.02 billion, a 52-week high of $25.77 and a 52-week low of $7.24. The company has approximately 85.31 million shares outstanding.
The Relative Strength Index (RSI) of GLUE stands at 32.21.
The mid-cap stock has gained 59.07% over the past 12 months.
Price Action: GLUE closed Wednesday’s regular session at $11.93, up 1.62%, according to Benzinga Pro data
Benzinga’s Edge Stock Rankings indicate Monte Rosa stock has a negative price trend across all time frames.
See More: Top Value Stocks
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
Login to comment