MorphoSys AG American Depositary Shares - MOR STOCK NEWS

MorphoSys and Incyte presented final five-year follow-up data from the Phase 2 L-MIND study at the American Association for Cancer Research Annual Meeting 2023. The study focused on the effectiveness of Monjuvi, an immunotherapy, combined with lenalidomide, in treating adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL). Key findings included an overall response rate of 57.5%, with a complete response in 41.2% of patients. Importantly, the median overall survival was reported at 33.5 months. No new safety concerns arose, with most adverse events being grade 1 or 2. This data reinforces Monjuvi's potential as a viable treatment option for patients who are not candidates for autologous stem cell transplants.

MorphoSys AG (FSE: MOR; NASDAQ: MOR) reported significant financial results for Q4 and the full year 2022. U.S. net product sales of Monjuvi reached $25.3 million in Q4 and $89.4 million for the full year, with total revenues of €81.6 million in Q4 and €278.3 million for 2022, up 54% year-over-year. Despite a consolidated net profit of €329.4 million in Q4, driven by recognized finance income, the company announced an operating loss of €68.4 million. For 2023, MorphoSys projects Monjuvi sales between $80 million and $95 million and R&D expenses between €290 million and €315 million, prioritizing clinical trials in its oncology pipeline.

MorphoSys AG will release its 2022 financial results on March 15, 2023, at 09:00 pm CET. Following this, a conference call is scheduled for March 16, 2023, at 01:00 pm CET, where the management team will discuss the results and provide a 2023 outlook. The session will include a presentation and a Q&A segment. The event will be accessible via a live webcast on the Investors section of MorphoSys' website. Participants can register for phone access in advance. A replay will be available post-event. MorphoSys aims to transform cancer treatment through innovative therapies.

MorphoSys AG has announced the cessation of its pre-clinical research programs to optimize costs, resulting in a 17% workforce reduction at its headquarters in Planegg, Germany. Despite promising data from these programs, the company needs significant investment to move them forward. MorphoSys aims to concentrate its resources on its mid- to late-stage oncology pipeline while exploring alternative options for the halted research. This strategic shift is part of ongoing efforts to enhance efficiency and focus on key clinical developments.

MorphoSys AG has announced the cessation of its pre-clinical research programs to streamline its cost structure. Although the existing data from these programs show promise, significant investments would be required to advance them to clinical trials. This decision will lead to a reduction of approximately 17% of the workforce at its headquarters in Germany. The company's focus will now shift to its mid- to late-stage oncology pipeline, including three Phase 3 trials. The most notable is the MANIFEST-2 study of pelabresib, with topline data expected in early 2024. MorphoSys aims to direct resources toward enhancing patient care in oncology.

MorphoSys AG announced that topline data from the Phase 3 MANIFEST-2 study, investigating pelabresib in combination with ruxolitinib for myelofibrosis, is now expected in early 2024. This is a slight delay from previous estimates of the first half of 2024. CEO Jean-Paul Kress expressed optimism based on Phase 2 results indicating pelabresib's potential to improve treatment outcomes. Further details will be shared at the upcoming J.P. Morgan Healthcare Conference on January 11, 2023, highlighting the company’s ongoing commitment to oncology innovation.