MORPHOSYS AG ORD - MPSYF STOCK NEWS

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.

MorphoSys AG (FSE:MOR, NASDAQ:MOR) reported preliminary Monjuvi U.S. net product sales of US$89.4 million for 2022, with US$25.3 million in the fourth quarter. The company anticipates 2023 sales between US$80 million and US$95 million. Financial liabilities from its collaboration with Incyte decreased to approximately €220 million from €580 million due to changes in sales expectations. MorphoSys maintains a gross margin of 75% to 80% on sales while planning R&D expenses of €290 million to €315 million for 2023.

MorphoSys AG has released its financial calendar for 2023, detailing key dates for financial reports and conference calls. Notable dates include:

• March 15, 2023: Year-End Results 2022
• May 3, 2023: First Quarter Interim Statement
• August 9, 2023: Half-Year Report
• November 15, 2023: Third Quarter Interim Statement
• May 17, 2023: Annual General Meeting

The company aims to advance cancer treatment through innovative biopharmaceutical solutions.

MorphoSys AG announced that the GRADUATE I and II studies, partnered with Roche, did not meet their primary endpoint of slowing clinical decline in patients with early Alzheimer's disease. The studies evaluated gantenerumab, which showed lower than expected beta-amyloid removal. Despite this setback, gantenerumab was well tolerated during the trial. The Phase 3 program involved 1,965 participants over 27 months. The topline findings will be presented at the CTAD Conference on November 30, 2022.

MorphoSys AG (FSE:MOR, NASDAQ:MOR) will release its Q3 and 9-month 2022 financial results on November 16, 2022, at 10:00 pm CET. A conference call will be held the following day, November 17, 2022, at 2:00 pm CET, featuring a management presentation and a Q&A session. The event will provide insights into their financial performance and outlook for 2022. Investors can access a live webcast and presentation on the company’s website and participate via phone by pre-registering for dial-in details. A replay will be available post-event.

MorphoSys U.S. Inc. announced new data presentations at the 64th American Society of Hematology (ASH) Annual Meeting, showcasing pelabresib for myelofibrosis and tafasitamab for diffuse large B-cell lymphoma (DLBCL). The data, featured in 14 presentations, includes findings from pivotal studies MANIFEST-2 and frontMIND, emphasizing the therapies' potential to enhance treatment for challenging blood cancers. Tim Demuth, Chief Research and Development Officer, highlighted the commitment to improving first-line treatment options and showcased the quality of ongoing research.

MorphoSys AG announced preliminary results from the Phase 1/2 trial of tulmimetostat (CPI-0209) in heavily pretreated cancer patients, showing responses in several tumor types. Data presented during the 34th EORTC-NCI-AACR Symposium indicated disease stabilization in cohorts including metastatic prostate cancer and endometrial carcinoma. At the July 16, 2022 cutoff, 51 of 52 patients were treated, with notable responses in ovarian cancer and mesothelioma. Safety evaluation revealed common adverse effects like thrombocytopenia and diarrhea. These findings support further investigation into tulmimetostat's therapeutic potential.