Monte Rosa skyrockets 44% on $5.7 bn Novartis deal
Monte Rosa Therapeutics logged its best session since October 2024, surging 44% after sealing a $5.7 billion collaboration with Novartis for immune-mediated diseases. The deal brings $120 million upfront, milestone payments, and royalties, while extending Monte Rosa's cash runway. Retail sentiment turned 'extremely bullish' as traders bet on a breakout above $12.40, its 52-week high.