Estados financieros detallados de Monte Rosa Therapeutics, Inc. (GLUE): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 92.9%, margen operativo -6.3%, margen neto -5.6%.
Al precio actual de $12.65, GLUE presenta beneficios negativos (P/E no significativo) y un ROE del -43.31%. La capitalización bursátil es de $1.1B.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | $75.6M | $123.7M |
| Coste de Ventas | $72000 | $537000 | 0 | 0 | $6.2M | $8.1M | $8.4M |
| Beneficio Bruto | -$72000 | -$537000 | 0 | 0 | -$6.2M | $67.5M | $115.3M |
| I+D | $7.3M | $23.5M | $57.2M | $85.1M | $105.0M | $121.6M | $141.5M |
| Generales y Administrativos | $644000 | $4.0M | $15.7M | $27.3M | $32.0M | $35.2M | $36.4M |
| Gastos Operativos | $8.0M | $27.5M | $72.9M | $112.4M | $137.1M | $148.6M | $169.5M |
| Beneficio Operativo | -$8.0M | -$28.0M | -$72.9M | -$112.4M | -$143.3M | -$81.1M | -$54.2M |
| EBITDA | -$7.7M | -$27.5M | -$71.8M | -$101.0M | -$128.8M | -$62.0M | -$31.4M |
| Gastos por Intereses | $1000 | 0 | 0 | $3.8M | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$7.7M | -$35.9M | -$74.0M | -$108.5M | -$135.0M | -$70.1M | -$39.7M |
| Impuestos | 0 | 0 | 0 | 0 | $338000 | $2.6M | -$1.1M |
| Beneficio Neto | -$8.0M | -$35.9M | -$74.0M | -$108.5M | -$135.4M | -$72.7M | -$38.6M |
| BPA | $-0.18 | $-0.82 | $-1.59 | $-2.30 | $-2.63 | $-0.98 | $-0.59 |
| BPA Diluido | $-0.18 | $-0.82 | $-1.59 | $-2.30 | $-2.63 | $-0.98 | $-0.59 |
| Acciones en Circulación (Diluidas) | $44.0M | $44.0M | $46.5M | $47.2M | $51.4M | $73.9M | $65.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $12.8M | $2.8M | $4.2M | $9.0M |
| Beneficio Bruto | $12.8M | $2.8M | $2.2M | $9.0M |
| Beneficio Operativo | -$33.0M | -$49.7M | -$50.0M | -$49.1M |
| EBITDA | -$28.2M | -$44.0M | -$42.4M | -$41.3M |
| Beneficio Neto | -$27.1M | -$46.1M | -$44.5M | -$43.4M |
| BPA | $-0.44 | $-0.70 | $-0.53 | $-0.51 |
| BPA Diluido | $-0.44 | $-0.70 | $-0.53 | $-0.51 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $6.0M | $41.7M | $346.1M | $54.9M | $128.1M | $224.3M | $129.9M |
| Inversiones a Corto | 0 | 0 | 0 | $207.9M | $104.3M | $147.9M | $247.2M |
| Cuentas por Cobrar | 0 | 0 | 0 | $7.7M | $505000 | $173000 | $4.6M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $9.8M | $43.6M | $348.7M | $275.9M | $236.2M | $377.4M | $393.2M |
| Inmovilizado Material | $1.3M | $4.6M | $12.3M | $61.9M | $62.6M | $56.3M | $50.4M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $11.1M | $49.4M | $366.3M | $342.4M | $303.8M | $438.7M | $448.7M |
| Cuentas por Pagar | $3.2M | $7.1M | $6.6M | $7.9M | $11.2M | $17.2M | $3.5M |
| Deuda a Corto | $750000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $4.3M | $29.3M | $16.6M | $25.6M | $46.6M | $156.9M | $64.2M |
| Deuda a Largo | 0 | $67.8M | 0 | 0 | 0 | 0 | $34.8M |
| Pasivos Totales | $23.2M | $98.1M | $18.8M | $71.0M | $124.5M | $215.8M | $215.6M |
| Reservas | -$12.2M | -$48.1M | -$122.0M | -$230.5M | -$365.9M | -$438.6M | -$477.2M |
| Patrimonio Neto | -$12.1M | -$48.7M | $347.5M | $271.4M | $179.2M | $222.9M | $233.1M |
| Deuda Total | $750000 | $67.8M | 0 | $47.0M | $46.0M | $42.7M | $39.2M |
| Deuda Neta | -$5.2M | $26.1M | -$346.1M | -$215.8M | -$186.4M | -$329.4M | -$337.9M |
| Capital Circulante | $5.5M | $14.3M | $332.0M | $250.3M | $189.6M | $220.5M | $329.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $208.3M | $129.9M | $159.9M | $90.1M |
| Activos Totales | $459.8M | $448.7M | $736.4M | $696.1M |
| Pasivos Totales | $214.0M | $215.6M | $214.5M | $211.0M |
| Patrimonio Neto | $245.8M | $233.1M | $521.9M | $487.3M |
| Deuda Total | $40.2M | $39.2M | $39.1M | $38.0M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$7.7M | -$35.9M | -$74.0M | -$108.5M | -$135.4M | -$72.7M | -$38.6M |
| Amortizaciones | $72000 | $537000 | $2.1M | $3.7M | $6.2M | $8.1M | $8.4M |
| Compensación en Acciones | 0 | $354000 | $5.2M | $11.7M | $16.7M | $18.1M | $18.9M |
| Cambio en Capital Circulante | $1.8M | $4.3M | $6.3M | -$2.1M | $72.5M | $91.4M | -$9.2M |
| Flujo de Caja Operativo | -$6.2M | -$23.1M | -$59.4M | -$92.5M | -$43.8M | $42.0M | -$22.8M |
| Inversiones (CapEx) | -$1.4M | -$3.4M | -$9.7M | -$12.9M | -$19.0M | -$4.0M | -$4.7M |
| Adquisiciones | 0 | 0 | $79000 | $109000 | $62000 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | -$641000 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$7.6M | -$26.4M | -$69.1M | -$105.4M | -$62.8M | $38.0M | -$27.5M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $100.4M | -$43.0M | -$37.4M | -$81.5M |
| Inversiones (CapEx) | -$651000 | -$767000 | -$1.9M | -$6.6M |
| Flujo de Caja Libre | $99.8M | -$43.8M | -$39.2M | -$88.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $4.4M | $4.3M | $5.9M | $11.9M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | | | +63.5% |
| Crecimiento Beneficio Neto (anual) | | -347.5% | -106.1% | -46.7% | -24.7% | +46.3% | +46.9% |
| Crecimiento BPA (anual) | | -355.6% | -93.9% | -44.7% | -14.3% | +62.7% | +39.8% |
| Cambio en Acciones (anual) | | +0.0% | +5.8% | +1.5% | +8.8% | +43.8% | -11.3% |
| Crecimiento FCF (anual) | | -249.9% | -161.3% | -52.5% | +40.4% | +160.5% | -172.3% |
| Margen Bruto | | | | | | 89.3% | 93.2% |
| Margen Operativo | | | | | | -107.3% | -43.8% |
| Margen EBITDA | | | | | | -82.0% | -25.4% |
| Margen Neto | | | | | | -96.1% | -31.2% |
| Margen FCF | | | | | | 50.3% | -22.2% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.3% | -3.7% | 2.8% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.17 | $-0.60 | $-1.48 | $-2.23 | $-1.22 | $0.51 | $-0.42 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $44.0M | $44.0M | $46.5M | $47.2M | $51.4M | $73.9M | $65.5M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -43.31% |
| Rentabilidad sobre capital invertido | -28.19% |
| Rentabilidad sobre activos | -23.15% |
| Margen bruto | 92.94% |
| Margen operativo | -633.04% |
| Margen neto | -560.85% |
Salud financiera
| Deuda / Patrimonio | 0.08 |
| Ratio corriente | 9.52 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -117.67 | -25.83 | -12.84 | -3.31 | -2.15 | -7.08 | -26.58 |
| P/VC | -76.72 | -19.13 | 2.73 | 1.32 | 1.62 | 2.30 | 4.41 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6.78 | 8.31 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 89.3% | 93.2% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -107.3% | -43.8% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -96.1% | -31.2% |