MorphoSys AG American Depositary Shares - MOR STOCK NEWS

MorphoSys AG will announce its Q3 and 9-month 2020 results on November 11, 2020, at 10:00 PM CET. A conference call will follow on November 12, 2020, at 2:00 PM CET to discuss the financial outcomes and outlook for 2020. MorphoSys, focusing on innovative therapies, particularly for cancer, has developed over 100 product candidates, with 27 in clinical development. The company had its product Monjuvi receive accelerated FDA approval in July 2020, marking a significant milestone.

MorphoSys AG has updated its financial guidance for 2020, projecting Group revenues between €317 million and €327 million, an increase from a previous range of €280 million to €290 million. The expected EBIT is adjusted to €10 million to €20 million, up from €-15 million to €5 million. This revision highlights higher revenues from partnerships, increased royalties from Tremfya, and sales from Monjuvi, which launched in the U.S. The company reported revenues of €291.7 million and EBIT of €101.8 million during the first nine months of 2020.

MorphoSys AG (FSE: MOR; NASDAQ: MOR) announced that its licensee, Janssen Research & Development, received a positive opinion from the European Medicines Agency (EMA)'s CHMP for the expanded use of Tremfya (guselkumab) to treat adults with active psoriatic arthritis (PsA) in the EU. Tremfya is already approved for moderate to severe plaque psoriasis. The recommendation is based on data from Phase 3 studies demonstrating efficacy and safety. A final decision from the EC regarding the PsA indication is anticipated later this year.

MorphoSys AG (FSE:MOR; NASDAQ:MOR) successfully issued €325 million in convertible bonds due in 2025. The bonds, priced at a 0.625% coupon, will convert into shares at a premium of 40% over the reference price. The issuance aims to optimize financing and bolster corporate development, including M&A opportunities. Settlement is expected around October 16, 2020. CEO Jean-Paul Kress emphasized investor support and confidence in the company’s growth prospects. However, existing shareholders were excluded from pre-emptive rights for these bonds.

MorphoSys AG has announced the launch of an offering for approximately EUR 325 million in convertible bonds due 2025. The bonds will be convertible into up to 2.65 million new and/or existing shares, with a coupon rate between 0.625% and 1.125% per annum. Existing shareholders will not have pre-emptive rights. The offering is aimed at institutional investors and is expected to settle around October 16, 2020. Proceeds will be allocated for general corporate purposes, including proprietary development and M&A transactions.

MorphoSys AG (FSE:MOR, NASDAQ:MOR) announced that Jens Holstein, Chief Financial Officer, will step down effective December 31, 2020. Holstein's tenure since 2011 significantly contributed to the company's growth and operational success. MorphoSys is currently searching for a successor to ensure a smooth transition. The company's leadership expressed gratitude for Holstein's impact, highlighting its solid operational and financial position for future growth. MorphoSys focuses on innovative therapies, especially in oncology, with multiple candidates in clinical development.

MorphoSys AG (FSE:MOR, NASDAQ:MOR) and I-Mab (NASDAQ:IMAB) announced FDA clearance for the Investigational New Drug application for MOR210/TJ210, aimed at treating advanced solid tumors. The Phase 1 clinical trial, starting in Q4 2020, will evaluate the drug's safety and efficacy. MOR210/TJ210, a monoclonal antibody targeting C5aR1, shows promise in preclinical studies for enhancing anti-tumor responses by blocking immunosuppressive cells. The collaboration grants I-Mab exclusive rights in Greater China, with MorphoSys retaining rights elsewhere. A successful trial could lead to significant advancements in cancer therapy.

MorphoSys AG (FSE: MOR; NASDAQ: MOR) and Incyte will host a conference call and webcast on September 29, 2020, at 9:00 a.m. EDT to discuss tafasisitamab's development and commercial prospects. The call features Dr. Gilles Salles, who has led significant research on tafasisitamab for treating diffuse large B-cell lymphoma (DLBCL).

The drug, co-commercialized with Incyte, is FDA approved for DLBCL patients not eligible for stem cell transplant. It is also under review in the EU.

MorphoSys AG and Incyte announced the inclusion of Monjuvi^® (tafasitamab-cxix) in the National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines for B-cell Lymphomas. Monjuvi is now recommended with lenalidomide for previously-treated adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) who are not eligible for autologous stem cell transplant. This designation supports access to advanced therapeutic options for patients with limited treatment avenues.