This Biotech Stock Has Doubled Its Value Today—Here's Why

Key TakeawaysMonte Rosa Therapeutics signed a development and commercialization deal with Novartis that could pay the biotech up to $2.1 billion.The agreement is for Monte Rosa's MRT-6160 drug and other potential treatments for immune system diseases.Shares of Monte Rosa more than doubled on the news. Shares of Monte Rosa Therapeutics (GLUE) more than doubled Monday after the biotechnology company struck an exclusive development and commercialization license agreement with Novartis (NVS) for its treatments ...