Monte Rosa Therapeutics Announces $25 Million Registered Direct Offering, Priced At- the-Market Under Nasdaq Rules
26 Outubro 2023 - 5:30PM
Monte Rosa Therapeutics, Inc. (Nasdaq: GLUE), a clinical-stage
biotechnology company developing novel molecular glue degrader
(MGD)-based medicines, today announced that it has raised $25
million at-the-market from a life sciences-dedicated investor.
The company has entered into a definitive agreement for the
issuance and sale of pre-funded warrants to purchase 10,000,400
shares of its common stock at an offering price of $2.4999 per
pre-funded warrant, which represents the closing price for the
common stock on October 25th less the $0.0001 per share exercise
price for each pre-funded warrant. The pre-funded warrants will be
immediately excercisable at a nominal exercise price of $0.0001 per
share and may be exercised at any time until the pre-funded
warrants are exercised in full. The closing of the offering is
expected to occur on or about October 30, 2023, subject to the
satisfaction of customary closing conditions.
The gross proceeds to Monte Rosa from this offering are expected
to be approximately $25 million, before deducting certain offering
expenses. Monte Rosa intends to use the net proceeds from the
offering towards its further advancement of its clinical and late
preclinical pipeline, including MRT-2359, its orally bioavailable,
GSPT1-directed MGD, MRT-6160, its orally bioavailable VAV1-directed
MGD, and its NEK7 program, to key value inflection points.
The securities above are being offering pursuant to a shelf
registration statement on Form S-3 (333-266003) that was filed with
the Securities and Exchange Commission (the “SEC”) on July 1, 2022,
and was declared effective by the SEC on July 13, 2022. The
offering is being made only by means of the written prospectus and
prospectus supplement that form a part of the registration
statement. A prospectus supplement relating to and describing the
terms of the offering will be filed with the SEC and will be
available on the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of offers to buy any of the securities being offered,
and shall not constitute an offer, solicitation or sale of any
security in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Monte RosaAbout Monte Rosa Monte Rosa
Therapeutics is a clinical-stage biotechnology company developing
highly selective molecular glue degrader (MGD) medicines for
patients living with serious diseases in the areas of oncology,
autoimmune and inflammatory diseases, and more. MGDs are small
molecule protein degraders that have the potential to treat many
diseases that other modalities, including other degraders, cannot.
Monta Rosa’s QuEEN™ (Quantitative and Engineered Elimination of
Neosubstrates) discovery engine combines AI-guided chemistry,
diverse chemical libraries, structural biology and proteomics to
identify degradable protein targets and rationally design MGDs with
unprecedented selectivity. The QuEEN discovery engine enables
access to a wide-ranging and differentiated target space of
well-validated biology across multiple therapeutic areas. Monte
Rosa has developed the industry’s leading pipeline of MGDs, which
spans oncology, autoimmune and inflammatory disease and beyond. For
more information, visit www.monterosatx.com
Forward-Looking StatementsThis communication
includes express and implied “forward-looking statements,”
including forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include all statements that are not historical facts and
in some cases, can be identified by terms such as “may,” “might,”
“will,” “could,” “would,” “should,” “expect,” “intend,” “plan,”
“objective,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “continue,” “ongoing,” or the negative of these terms,
or other comparable terminology intended to identify statements
about the future. Forward-looking statements contained herein
include, but are not limited to, the expected closing of the
offering and the Company’s anticipated uses of capital to further
advance its clinical and late preclinical pipeline, including
MRT-2359, MRT-6160, and its NEK7 program, to key value inflection
points. By their nature, these statements are subject to numerous
risks and uncertainties, including those risks and uncertainties
set forth in our most recent Annual Report on Form 10-K for the
year ended December 31, 2022, filed with the U.S. Securities and
Exchange Commission on March 16, 2023, and any subsequent filings,
that could cause actual results, performance or achievement to
differ materially and adversely from those anticipated or implied
in the statements. You should not rely upon forward-looking
statements as predictions of future events. Although our management
believes that the expectations reflected in our statements are
reasonable, we cannot guarantee that the future results,
performance, or events and circumstances described in the
forward-looking statements will be achieved or occur. Recipients
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date such statements are
made and should not be construed as statements of fact. We
undertake no obligation to publicly update any forward-looking
statements, whether as a result of new information, any future
presentations, or otherwise, except as required by applicable law.
Certain information contained in these materials and any statements
made orally during any presentation of these materials that relate
to the materials or are based on studies, publications, surveys and
other data obtained from third-party sources and our own internal
estimates and research. While we believe these third-party studies,
publications, surveys and other data to be reliable as of the date
of these materials, we have not independently verified, and make no
representations as to the adequacy, fairness, accuracy or
completeness of, any information obtained from third-party sources.
In addition, no independent source has evaluated the reasonableness
or accuracy of our internal estimates or research and no reliance
should be made on any information or statements made in these
materials relating to or based on such internal estimates and
research.
InvestorsAndrew Funderburk, Kendall
IRafunderburk@kendallir.com
MediaCory Tromblee, Scient
PRmedia@monterosatx.com
Monte Rosa Therapeutics (NASDAQ:GLUE)
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