Ups and downs in Germany’s Morphosys’ future

Bavaria-based biotech company Morphosys has published its 2017 financial results, which show that the group’s revenues increased 33% (€67m), yet losses increased as well. However, analysts’ main concern is that Morphosys is expected to be down again at the end of 2018, with €110-120m losses (EBIT). The main propeller for sales is the psoriasis drug Tremfya, which has been licensed to Janssen (J&J). However, Morphosys has surprised the market today as it has announced the results from the L-Mind clinical trial, assessing the investigational therapy MOR208 (monoclonal antibody) in combination with Lenalidomid in patients with the R/RDLBCL lymphoma. The new therapy has shown efficacy, confirming the results from previous clinical trials. Morphosys’ management has said it now intends to accelerate FDA’s approval as much as possible.  Morphosys’ shares have risen over 3% (Frankfurt) after the results were announced.

(Source: Morphosys)