DGAP-Adhoc Ad hoc: MorphoSys AG Raises its Financial Guidance for the Full Year 2020
DGAP-Ad-hoc: MorphoSys AG / Key word(s): Change in Forecast
Ad hoc release according to article 17 para. 1 MAR
Ad hoc: MorphoSys AG Raises its Financial Guidance for the Full Year 2020
MorphoSys AG (FSE: MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ: MOR) announces today an increase in its financial guidance for the financial year 2020 after preliminary completion of the latest evaluation of MorphoSys' financial performance.
Based on the preliminary unaudited consolidated results for the first nine months 2020, MorphoSys now expects Group revenues in the range of €317 to €327 million (previously: €280 to €290 million) and an EBIT in the range of €10 to €20 million (previously: €-15 to €+5 million). R&D expenses are expected to remain unchanged in the range of €130 to €140 million.
The updated guidance reflects higher revenues from partnerships and collaborations and Tremfya(R) royalties are expected to be at the upper end of guidance. In addition, it now also includes revenues from product sales of Monjuvi(R) following its approval and subsequent launch in the U.S.
In the first nine months of 2020, MorphoSys recorded Group revenues of €291.7 million and an EBIT of €101.8 million. Further details will be published in the Company's Q3 report on November 11, 2020.
END OF AD HOC RELEASE
Information and Explanation of the Issuer to this News:
MorphoSys is a commercial-stage biopharmaceutical company dedicated to the discovery, development and commercialization of exceptional, innovative therapies for patients suffering from serious diseases. The focus is on cancer. Based on its leading expertise in antibody, protein and peptide technologies, MorphoSys, together with its partners, has developed and contributed to the development of more than 100 product candidates, of which 27 are currently in clinical development. In 2017, Tremfya(R), marketed by Janssen for the treatment of plaque psoriasis, became the first drug based on MorphoSys' antibody technology to receive regulatory approval. In July 2020, the U.S. Food and Drug Administration (FDA) granted accelerated approval of the company's proprietary product Monjuvi(R) (tafasitamab-cxix) in combination with lenalidomide in patients with a certain type of lymphoma. Headquartered near Munich, Germany, the MorphoSys group, including the fully owned U.S. subsidiary MorphoSys US Inc., has ~500 employees.
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