Morphic Holding, Inc. - MORF STOCK NEWS

Morphic Therapeutic (Nasdaq: MORF) announced a webcast and conference call to discuss the positive results from its Phase 1 trial of MORF-057, an oral selective α4β7 integrin inhibitor for Inflammatory Bowel Disease. This event will follow the presentation at the ECCO 2021 Virtual Congress and is scheduled for July 9, 2021, at 8:00 a.m. ET. The presentation will be led by Adrian S. Ray, focusing on the drug’s target engagement in healthy subjects. The live webcast will be accessible on their website, with an archived replay available afterward.

Morphic Therapeutic (Nasdaq: MORF) announced new Phase 1 data for MORF-057, an oral selective α4β7 integrin inhibitor for inflammatory bowel disease (IBD), to be presented at the ECCO 2021 Virtual Congress on July 9. The study showed that all dosing regimens were well-tolerated, with mild adverse events. High receptor occupancy (RO) levels were confirmed, achieving complete saturation at the 100 mg BID dose. The results support the tolerability and pharmacodynamic profile of MORF-057 and provide a foundation for the upcoming Phase 2 ulcerative colitis program.

Morphic Therapeutic, listed on Nasdaq as MORF, announced that its leadership will present at the Jefferies Virtual Healthcare Conference on June 4, 2021, at 9:00 AM ET. The event will feature a live webcast available on Morphic's investor website, along with an archived replay following the conference. Morphic Therapeutic focuses on developing oral integrin therapies targeting serious chronic diseases such as autoimmune and cardiovascular diseases, leveraging its proprietary MInT technology platform in collaboration with major partners.

Morphic Therapeutic (MORF) expanded its collaboration with Janssen Pharmaceuticals for a third program, achieving positive preliminary results from the Phase 1 clinical trial of MORF-057. The drug demonstrated over 95% receptor occupancy in treated subjects and was well tolerated. Additionally, Morphic raised $245 million through an upsized public offering, which will support operations until late 2024. The company reported a Q1 2021 net loss of $21.3 million on $3.3 million in revenue, with significant cash reserves of $448.3 million as of March 31, 2021.

Morphic Therapeutic announces the appointment of Susannah Gray to its Board of Directors, bringing extensive healthcare finance experience. Gray, previously EVP at Royalty Pharma, is expected to enhance Morphic's strategic direction as it develops oral integrin therapies. Concurrently, Otello Stampacchia steps down from the board, while Vikas Goyal will not seek re-election at the end of his term. Both departures mark a transition in leadership, with management expressing gratitude for their contributions to Morphic's growth.

Morphic Therapeutic (Nasdaq: MORF) announced promising preclinical data on its αvβ8 integrin inhibitor, showcasing its ability to enhance immune response against checkpoint-inhibitor resistant tumors. Presented at the AACR Annual Meeting, results indicated that the oral inhibitor effectively combines with anti-PD-1 treatment, demonstrating significant efficacy in breast cancer models. This breakthrough is seen as a potential method to convert 'cold' tumors into 'hot' tumors, enhancing the effectiveness of immuno-oncology therapies.

Morphic Holding, Inc. (Nasdaq: MORF) announced a public offering of 3,500,000 shares at $70.00 per share, aiming for approximately $245 million in gross proceeds. The offering, set to close around March 5, 2021, includes a 30-day option for underwriters to buy an additional 525,000 shares. The funds will support research and development for its product candidates, including MORF-057, and other operational needs. Joint bookrunners include Jefferies, Cowen, BMO Capital Markets, and RBC Capital Markets.

Morphic Holding, Inc. (Nasdaq: MORF) has announced a proposed underwritten public offering of $200 million in common stock, with an option for underwriters to purchase an additional $30 million. The offering aims to fund research, clinical development, and operational needs related to its product candidates, including MORF-057. Jefferies, Cowen, BMO Capital Markets, and RBC Capital Markets are the joint bookrunners. The offering is subject to market conditions and regulatory approvals, with details outlined in a preliminary prospectus to be filed with the SEC.

Morphic Therapeutic (MORF) reported positive interim results from its Phase 1 trial of MORF-057, an oral α4β7 integrin inhibitor aimed at treating inflammatory bowel disease (IBD). The drug showed over 95% mean receptor occupancy across the three highest dose cohorts, with no serious adverse events observed. The trial demonstrated that MORF-057 was well tolerated at doses ranging from 25 mg to 400 mg. Current studies are ongoing, including multiple ascending doses and food effect trials, with full results expected later in 2021.